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Reporting a Rate Spread
Answer by Dan Persfull, BOL Guru
Guru Bio

Question:  Should a Rate Spread be reported on HMDA LAR for HMDA-reportable Action 1 Reverse Mortgages?


Answer:  A Rate Spread should not be reported if it's an open-end line of credit (HELOC). If it's closed-end line of credit, yes. See the FAQs.

First published on BankersOnline.com 9/27/10









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