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#205061 - 06/28/04 04:57 PM HMDA reportable if repurchased?
Anonymous
Unregistered

If we sold a loan in 2003 (and it was HMDA reported in 2003) and we re-purchase it in 2004. It's not HMDA reportable for this year is it?

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Lending Compliance
#205062 - 06/28/04 05:14 PM Re: HMDA reportable if repurchased?
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,535
Bloomington, IN
Yes.

2003 you reported it as an origination and a loan sold.

2004 you'll report it as a loan purchased. (to the best of my knowledge HMDA does not distinguish between a purchased loan and a repurchased loan)
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The opinions expressed are mine and they are not to be taken as legal advice.

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#205063 - 06/28/04 05:24 PM Re: HMDA reportable if repurchased?
TomS Offline
Gold Star
Joined: Jan 2004
Posts: 318
USA
I agree with Dan. The loan should be reported as a purchased loan on your 2004 LAR.
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CRCM, CAFP, DAD

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