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HMDA Reporting on Refinanced HELOC
Answer by Dan Persfull, BOL Guru
Guru Bios
Question: When you refinance a HELOC loan into another HELOC loan (refinance with a different HMDA product), does this have to be reported on HMDA? We currently do not report HELOC loans on HMDA. Does the refinance override that it is a HELOC?
Answer: You'll find your answer in these FAQs under loan purpose.
First published on BankersOnline.com 3/31/08
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