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#2160468 - 01/15/18 06:30 PM Loan denied countered with a HELOC and originated
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
We turned down the original application which was for a HMDA reportable loan due to collateral and countered with a HELOC.
The borrower did accept the counter and a HELOC was originated. We elect not to report HELOCs (old rules, origination before 2018) so we would not report anything correct?
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#2160470 - 01/15/18 08:16 PM Re: Loan denied countered with a HELOC and originated Bec
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Correct.
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http://www.bankerscompliance.com

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#2160471 - 01/15/18 09:41 PM Re: Loan denied countered with a HELOC and originated Bec
Bec Offline
Diamond Poster
Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
Thank you, a bit of a crisis of confidence smile
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