Thread Options
#1212974 - 07/06/09 05:51 PM HMDA
midwestgal Offline
Member
Joined: Apr 2008
Posts: 89
Midwest
HMDA newbie here:

Is there such a thing as having branches in two different MSA's?

And if so, do we need to report for both?

Wouldn't we just report for where the main branch is located?
Thanks for the help!

Return to Top
HMDA

   
HMDA Academy
#1212988 - 07/06/09 06:05 PM Re: HMDA midwestgal
hmdagal Offline
Power Poster
hmdagal
Joined: Dec 2002
Posts: 3,816
If your institution must report under HMDA, you would report all loan applications from all branches.

Yes, you can have branches in more than one MSA.

Return to Top
#1212989 - 07/06/09 06:05 PM Re: HMDA midwestgal
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,710
Bloomington, IN
Quote:
Is there such a thing as having branches in two different MSAs?


Yes. We currently have branches in 2 MSAs.

Quote:
And if so, do we need to report for both?

Wouldn't we just report for where the main branch is located?


All loans made in the MSAs where you are located will be reported on you financial institution's LAR with the appropriate census information. Loans outside the MSA you can report NA for the census information if you wish.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#1213025 - 07/06/09 06:51 PM Re: HMDA Dan Persfull
midwestgal Offline
Member
Joined: Apr 2008
Posts: 89
Midwest
Thank you both for the help!

Return to Top

Moderator:  SMQ, CRCM