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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
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
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Dan Persfull
Joined: Aug 2002
Posts: 46,635
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.
The opinions expressed are mine and they are not to be taken as legal advice.

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