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#1773225 - 01/07/13 07:31 PM HMDA LAR - Prop Location
Dallas Fan Offline
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Joined: Feb 2008
Posts: 219
RIC
I am conducting a review and noticed some entries on LAR where they put "NA" for prop location because the loan app was withdrawn. I think NA is only to be used for Preapproval Requests and you are still required to have prop location even if loan is withdrawn. Am I correct?

Thanks!

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HMDA

#1773235 - 01/07/13 07:40 PM Re: HMDA LAR - Prop Location Dallas Fan
Truffle Royale Offline

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yes

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#1773237 - 01/07/13 07:42 PM Re: HMDA LAR - Prop Location Dallas Fan
RR Becca Offline
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RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
the only exception would be purchase of a mobile home when the location of the mobile home was as yet undetermined. Then you can have NA for location on a withdrawn or denied application.
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#1773252 - 01/07/13 08:01 PM Re: HMDA LAR - Prop Location Dallas Fan
raitchjay Online
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OK
Or if the property isn't in an MSA where your bank has a branch (happens here a lot).
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#1773268 - 01/07/13 08:24 PM Re: HMDA LAR - Prop Location Dallas Fan
Dallas Fan Offline
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RIC
Thanks for the help!

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#1773403 - 01/07/13 11:38 PM Re: HMDA LAR - Prop Location raitchjay
hmdagal Offline
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hmdagal
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Originally Posted By: raitchjay
Or if the property isn't in an MSA where your bank has a branch (happens here a lot).


If you're also a CRA reporter this doesn't apply.

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#1773423 - 01/08/13 04:15 AM Re: HMDA LAR - Prop Location Dallas Fan
raitchjay Online
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Joined: Oct 2009
Posts: 9,232
OK
I always forget that since we're not a CRA reporter. Thanks for the reminder hmdagal.
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