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We have a loan that is secured with 262 acres of land/1 acre with a house/barn. The land used to be farmland–tax returns show $21,000 in income from farm. This is a refinance. We believe this is HMDA reportable because it is a dwelling secured loan refinanced with a dwelling secure loan. We just don’t know what call code to use. The appraisal identifies almost 70% of the land as woods/tillable (26%). Do we call code this as 1b Farmland?
I agree with your HMDA analysis. The loan appears to be a HMDA reportable refinance.
Your jump from HMDA to Call Report instructions confuses me; the two are not related.
My call reporting skills are very rusty, but I believe that code 1b is the appropriate code. Hopefully someone with real call report skills can provide a more definitive answer.
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