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#178085 - 04/08/04 09:23 PM HMDA Rate Spread
BankerMama Offline
Diamond Poster
BankerMama
Joined: Jun 2001
Posts: 1,543
What is entered as APR on the rate spread calculator when it is a HMDA reportable loan but considered business purpose such as rental property therefore Reg Z is NOT required and you have no APR? Do we use the base rate?

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#178086 - 04/08/04 09:26 PM Re: HMDA Rate Spread
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,849
Bloomington, IN
You enter NA. If the loan is not subject to Reg. Z you do not have to worry about the rate spread.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#178087 - 04/08/04 09:27 PM Re: HMDA Rate Spread
BankerMama Offline
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BankerMama
Joined: Jun 2001
Posts: 1,543
OH!!! I missed that one. Sometimes can't see the forest for the trees! Thanks.

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