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#1767590 - 12/14/12 06:25 PM Double reporting
mll Offline
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Joined: May 2010
Posts: 131
If a bank knows that the third party where the loans were purchased from, is reporting (HMDA)these loans, is the bank required to report as well? I seem to remember somewhere in the regulation, that HMDA data should not be reported by both.

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#1767596 - 12/14/12 06:27 PM Re: Double reporting mll
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
The entity that makes the credit decision reports the loan as an origination and if the loan is purchased by another entity they report it as a purchased loan.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1767601 - 12/14/12 06:33 PM Re: Double reporting mll
mll Offline
100 Club
Joined: May 2010
Posts: 131
Okay, that makes sense. Thank you!

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