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#1295469 - 11/30/09 05:36 PM
Type of Purchaser
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100 Club
Joined: Mar 2005
Posts: 105
Arkansas
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Could someone tell me when would you use a code 9 (other type of purchaser) on the LAR? Thanks in advance.
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#1295540 - 11/30/09 06:31 PM
Re: Type of Purchaser
Truffle Royale
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Diamond Poster
Joined: Feb 2004
Posts: 1,110
South
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Truffle - is there any written guidance on this other than in the examiner's mind. We have used 9 pretty much across the board on loans sold secondary and the FDIC is doing a HMDA data intergrity review. Using 9 has not been an issue the last 2 exams.
Thanks!
Last edited by beegee; 11/30/09 06:33 PM.
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#1295684 - 11/30/09 08:19 PM
Re: Type of Purchaser
Truffle Royale
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Diamond Poster
Joined: Feb 2004
Posts: 1,110
South
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Thanks Truffle and Kaybee - looks like a resubmit coming....
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#1368858 - 04/02/10 08:39 PM
Re: Type of Purchaser
Truffle Royale
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Power Poster
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
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So how does everyone code the entities who do not show up on NIC? Some are obviously finance companies, etc. But what about those that aren't so easily identified?
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#1504999 - 02/03/11 11:06 PM
Re: Type of Purchaser
Kathleen O. Blanchard
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100 Club
Joined: Feb 2009
Posts: 238
Midwest
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I am wondering if anyone has additional information on what purchaser type code should be reported by institutions selling loans in the Mortgage Partnership Finance (MPF) program through the Federal Home Loan Bank (FHLB). Looks like some posts indicate code 7 since they are a "domestic entity other", while others indicate code 9.
Can anyone help clarify?
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#1506619 - 02/08/11 04:48 PM
Re: Type of Purchaser
Kathleen O. Blanchard
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100 Club
Joined: Feb 2009
Posts: 238
Midwest
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I just heard back from the HMDA help line and was instructed to use "9" for FHLB.
Truff & Kaybee - thank-you both for your help.
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#1510256 - 02/15/11 04:33 PM
Re: Type of Purchaser
Kathleen O. Blanchard
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100 Club
Joined: Aug 2002
Posts: 133
SOMEWHERE
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Are loans still considered "purchased" if they are divested along with the sale of an entire branch?
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Opinions do not reflect opinion of employer and cannot be relied upon as advise.
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#2180232 - 05/30/18 08:04 PM
Re: Type of Purchaser
#1hogfan
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Power Poster
Joined: Apr 2001
Posts: 4,828
Between the lines
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Reviving this thread, (an oldie, but a goodie) Now that we have Purchaser Codes 71 and 72, what do we do with "Domestic Entity Other"?
I'm thinking 71, but would like some input on that.
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