Is a cd secured HIL loan HMDA reportable? - I believe a refi of a cd secured loan is NOT reportable but don't know about the 1st one.

Plus - on an advanced search I have been entering what I want to search and then choose 'more than 3 years' and leave less than ..... blank...the search results only go back about 3 months; not 3 years...what am I doing wrong?

I'm not sure about your search results because I always have poor results aswell.

However for the HMDA loan. It depends if your institution reports Home Improvement loans that aren't secured by a dwelling.

If they do report them, then yes it's a reportable loan.

...thanks - and what are your thoughts about the refi of that loan - reportable or not....I say no....

No, a refinance is a dwelling secured loan that satisfies and replaces a dwelling secured loan to the same borrower.

Agreed. Sorry, for some reason I didn't read that part.

Yes, it is reportable. Also document the file if the borrower had bad credit and the bank is making the loan on the basis of the collateral.

During one FL exam there was a matched pair for HIP loans. Bank policy was not to lend for a recent (1 year) bankruptcy. HIP loan to white borrower approved and to black applicant denied. White borrower had $10K loan with $20K on-up CD. Black applicant was renting and wanted HIP loan to fix up his apartment.

(Documentation in file cleared the match - loans to bankrupt could be approved if amply and entirely secured.)

"Yes, it is reportable."

It is only reportable if it is classified as a HIP by the institution as it is not dwelling secured. Many banks would classify this as a CD secured loan regardless of the purpose.

Actually - I'm glad I read this thread - can a bank choose to NOT report unsecured HIL loans? And therefore NOT classify them as HILs? We have reported them previously but I want to stop it.

We do not report cd or auto secured HIL's.

Most of the banks that I work with do not have a home improvement classification and therefor never report any HILs unless secured by a dwelling.

Is a CD secured loan for the purpose of down payment for a home HMDA reportable?

No: A home purchase loan is any loan secured by and made for the purpose of purchasing a dwelling.