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Moible home with new changes

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  • March 30, 2016 at 11:38 am EDT #9024
    kcco
    Member

    I recently listened to a webinar on The New World of HMDA with Jack. If an older mobile home does not meet HUD standards; and may or may not have the HUD cert label OR the other plate with the Safety Standards, how would we report a loan that is for the purpose to purchase, improve, or refinance the property? Still report as a mobile home..or a 1-4..or not at all?

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  • April 1, 2016 at 10:24 am EDT #9034
    rcooper
    Member

    These would not be reportable as of 1/1/18.

    April 2, 2016 at 6:12 am EDT #9037
    jholzknecht
    Keymaster

    Under the revised HMDA rules, effective January 1, 2018, mobile homes constructed before June 15, 1976, are excluded from reporting, regardless of whether they are used as residences. Manufactured homes continue to be reportable.

    April 2, 2016 at 6:12 am EDT #9038
    jholzknecht
    Keymaster

    Under the revised HMDA rules, effective January 1, 2018, mobile homes constructed before June 15, 1976, are excluded from reporting, regardless of whether they are used as residences. Manufactured homes continue to be reportable.

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