We had a mtg subsidiary company that has been merged into the bank. We will consolidate the LAR for filing this year.
The bank had purchased loans from the sub prior to the merger. The subsidiary reported the loans as originated and sold. The bank has always reported with the Purchaser code 8 – Affiliate. Will the loans purchased prior to the merger be shown twice on the combined LAR – once as the orig and once as purchased? Since the merger no need to “sell” the loan so just need to figure out how to report the beginning of the year.