Most Popular Compliance Content
HMDA Info on Brokered Loans
02/02/2004
We are a de novo bank (8 months old) and our service area has been designated an MSA. For 2004 we will be a HMDA reporting bank. We have a Real Estate department that originates loans under broker agreements with loans being closed in the name of the investors. One of the brokers requires loans to be closed in the bank's name. Do we need to collect information on all brokered loans or just the ones closed in our name? We will be collecting HMDA information on all required loans that we carry on our books.
Reporting Small Dollar Withdrawn App
02/02/2004
I have an application which was withdrawn. The purpose is for earnest money on the purchase of a house. The amoount is $500.00. I am not sure if this is reportable on the HMDA LAR.
CRA Comment Letter (Suggestions)
02/01/2004
Now that the agencies have finally issued proposed revision to the CRA regulation, it is time to stand up and be counted.
Construction Loans
02/01/2004
Question: If we check and verify information that is in a credit report, does this make us an investigative credit reporter?
CRA: How Not to Change a Regulation
02/01/2004
The proposal, following on the advance notice of proposed rulemaking, is now out. It may look innocuous - at first glance. But look again, carefully.