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#1622133 - 10/31/11 04:30 PM Applications taken in/out of SMSA
Patricia Offline
Gold Star
Joined: Mar 2011
Posts: 327
Kansas
The bank I work for just purchased a branch located in a SMSA and have not been a HMDA reporter prior to this purchase. So on the LAR's do we report all applications taken? That is, even from the bank not located in a SMSA?

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#1622143 - 10/31/11 04:39 PM Re: Applications taken in/out of SMSA Patricia
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,455
Bloomington, IN
Once you become subject to reporting all loans you process that meet the definition of a home purchase, home improvement or a refinancing are reportable. If they are located outside a MSA then you have options on the census reporting.

Search the GIR using outside as the search term and you will find additional information.

http://www.ffiec.gov/hmda/guide.htm
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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