When reporting the loan amount on the HMDA LAR do you report:
1.amount requested on the application
2.principal amount of the note (before fees and interest)or
3.total note amount

Incorrect loan amount on LAR was cited as a violation. Loan amount requested per the application was $50,150. Actual loan amount granted per note was $50,600. LAR shows $50. Examiner noted it should be $51. Could it not be either one?

Its the origination amount rounded to the nearest $1,000.

The Getting it right guide says to report the dollar amount granted or requested... Is this a legitimate point to make??

The only time you'll report the amount requested is when there is no loan. If the loan is done, you round to $51 in this case.

I see what you're saying. I was reading appendix A which says enter the amount of the loan or application. It goes on to say for denial or withdrawal to enter the amount applied for. Thanks

A somewhat related question to the above. You don't have to include the total payments as the loan amount do you? Isn't it just the loan amount (not including interest). Please advise.

It's the loan amount.

Somebody help me with the statement in Appendix 1A(7) which says for a home improvement loan, enter the entire amount of the loan--including unpaid finance charges if that is how such loans are recorded on your books-even if only a part of the proceeds is intended for home improvement.

c. For a home improvement loan, enter the entire amount of the loan—including unpaid finance charges if that is how such loans are recorded on your books . . . .

This would apply to precomputed loans.

Makes sense if precomputed.Thanks.