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Does the temporary financing exclusion in HMDA care if we refinance the loan or if the loan goes elsewhere at the end of the short term? We have a lot of instances where a customer wants to purchase, rehab, and then try to go secondary market. I feel like these loans are not reportable because the purpose is short term financing. I know if the purpose is to purchase, renovate, then sell, we do report. I wasn’t sure in a situation where the financing is just termporary until it can be put on long term financing by the same borrower but possibly with another lender.
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