If you have an applicant applying to purchase multifamily under an individual name, you do report the income for the individual in HMDA, correct? I haven't done one in a long time. Usually they are all under a business entity.

6. Income. Enter the gross annual income that your institution relied on in making the credit decision.

a. Round all dollar amounts to the nearest thousand (round $500 up to the next $1,000), and show in thousands. For example, report $35,500 as 36.

b. For loans on multifamily dwellings, enter “NA.”

c.If no income information is asked for or relied on in the credit decision, enter “NA.”

d.If the applicant or coapplicant is not a natural person or the applicant or co-applicant information is unavailable because the loan has been purchased by your institution, enter “NA.”

The loan is secured by multifamily, but a natural person is the applicant. Multifamily is NA, but in this case the applicant is not a natural person, so we do report?

If the loan is secured by a multifamily dwelling then you would report is as "NA" even though a natural person is the applicant.

We have a few of these ever year on our LAR.

What I quoted above in my first post is from the HMDA GIR.

If I remember correctly in the past when I ran to one f these situations, we had to correct the LAR income field when the loan was being taken out by a natural person alone. However, if the loan was to a business entity and had an individual as a co-borrower, we would report NA for income.

Has anyone else had this experienced.

6. Income. Enter the gross annual income that your institution relied on in making the credit decision.

b. For loans on multifamily dwellings, enter “NA.”

I am really not too sure how much clearer this could be stated. The applicant type has nothing to do with reporting or not reporting income. The instructions say report "N/A". If someone told you different, they were dead wrong.

Believe Randy. All income on loans with multifamily dwellings are coded NA for income. Anything else in that field will generate an error code.