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HMDA Reporting - Dollar Amount
Answer by Jim Bedsole and Dan Persfull, BOL Gurus
Guru Bio
Question: Is there a dollar amount connected with HMDA reporting for a multiunit complex, apartments or condos?
Answer by Jim Bedsole: No, the size of the loan is never a factor in determining HMDA reporting requirements.
Answer by Dan Persfull: With one exception, if the loan is for less than $500 then it is not subject to reporting. I'm not sure how many financial institutions would still make such a small loan.
First published on BankersOnline.com 2/12/07
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