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#2042813 - 10/06/15 03:52 PM HMDA situation - Do you agree?
peony Offline
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peony
Joined: Mar 2013
Posts: 250
We have a correspondent relationship with another bank. We take application and submit to the investor bank for approval. The loans close in our name and then sold to investor. We do not log approvals (we do not make the decision) but we do log denials if we make decision prior to submitting to the investor. Do you agree that this is correct?

Thanks!

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#2042816 - 10/06/15 04:02 PM Re: HMDA situation - Do you agree? peony
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Yes.
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#2042818 - 10/06/15 04:07 PM Re: HMDA situation - Do you agree? peony
Skittles Offline
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Skittles
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That is what we do also, peony.
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#2042931 - 10/06/15 08:04 PM Re: HMDA situation - Do you agree? peony
peony Offline
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peony
Joined: Mar 2013
Posts: 250
Thanks for the responses! We were confident that we are doing the right way but needed some reassurance from others to support our decision.

Thanks again!

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