Are Pre Qualifications Hmda Reportable?
Do You Have a Preapproval Program? .. . If You Have a Pre-Approval Program, It's a Big Deal Because It's Something You Are Required to Report on Your Hmda-Lar...
Do you have a preapproval program? ... If you have a pre-approval program, it's a big deal because it's something you are required to report on your HMDA-LAR.
What is reportable under HMDA?
A consumer purpose, dwelling secured loan is HMDA reportable regardless of purpose. ... A business purpose, dwelling secured loan is only HMDA reportable if the purpose of the loan is to purchase a dwelling, refinance a dwelling or improve a dwelling or the real property on which the dwelling is located.
What is not reportable HMDA?
If the loan was to purchase a commercial dwelling, it must be secured by a dwelling to be HMDA reportable. If the purchase money loan was secured by a commercial office building (not a dwelling) or a CD, it is not reportable even though the purpose was to purchase an apartment building or a rental property.
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