Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums HMDA Monitoring info on consolidating credit cards
Thread Options
#1864880 - 10/24/13 09:57 PM Monitoring info on consolidating credit cards
Glo Offline
Gold Star
Joined: Jul 2005
Posts: 394
Arkansas
If there is a loan to consolidate debt(credit cards), is it required to collect monitoring information since it will not be HMDA reportable?

Return to Top
HMDA

   
HMDA Academy
#1864883 - 10/24/13 10:00 PM Re: Monitoring info on consolidating credit cards Glo
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,388
Galveston, TX
No, it would be a violation.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1864886 - 10/24/13 10:01 PM Re: Monitoring info on consolidating credit cards Glo
Glo Offline
Gold Star
Joined: Jul 2005
Posts: 394
Arkansas
Thank you!

Return to Top

Moderator:  SMQ, CRCM