Thread Options
#2175272 - 04/25/18 09:50 PM Investment Rental Property
RegComply Offline
New Poster
Joined: Jan 2012
Posts: 19
Southeast
We document our investment rental property for investors who all require Regulation Z disclosures, even though under the regulations these would be exempt, our system is taking this information and automatically updating HMDA for Reg Z items. Has anyone run into this issue and if so were you able to get your vendor to fix so it would show as a Non-Reg Z loan?

Return to Top
HMDA

   
HMDA Academy
#2175274 - 04/25/18 09:54 PM Re: Investment Rental Property RegComply
raitchjay Offline
Power Poster
Joined: Oct 2009
Posts: 8,701
OK
Seems to me like it would have to be a manual fix on your part......if you are showing the loan in your LOS as a disclosable, Reg. Z loan then your LOS (or at least, my LOS) is going to pull all of those numbers over from your TRID and/or ATR stuff. I think if you don't want it to, then you'd have to go back in the transaction and uncheck all the TRID, Reg. Z applicability boxes.
_________________________
I'm fixin' to fix that.

Return to Top
#2175299 - 04/26/18 12:57 PM Re: Investment Rental Property RegComply
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,710
Bloomington, IN
I agree. It's not the vendors responsibility to fix their system to accommodate you classifying loans inaccurately in the system to accommodate your investors. Your issue is with your investor, not your software vendor.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top