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#2156171 - 12/06/17 02:35 PM Application Channel-When to report NA (code 3)
Likes to Comply Offline
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Joined: Nov 2008
Posts: 1,021
In the mountains
When would NA (code 3) be used for application channel? Is it just for a purchased loan? Otherwise it seems we would know the application channel. Also the commentary doesn't address it from what I can see.
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#2156176 - 12/06/17 02:46 PM Re: Application Channel-When to report NA (code 3) Likes to Comply
Ski Offline
Platinum Poster
Joined: May 2003
Posts: 639
South Louisiana
From the HMDA Small Entity Compliance Guide page 56:

For purchased Covered Loans, a Financial Institution reports that this data point is not applicable. 12 CFR 1003.4(a)(33)

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#2156290 - 12/06/17 07:18 PM Re: Application Channel-When to report NA (code 3) Likes to Comply
RVFlyboy Offline
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Joined: Oct 2000
Posts: 5,932
Soaring over Georgia
Presuming you are talking about field 93 - Submission of Application, the "Reporting Not Applicable" CFPB guide indicates that the only time you would use Code 3 - NA would be for purchased covered loans.
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