Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Dodd-Frank Final Rules Discussions HMDA Overhaul 2018 HMDA Purchase
Thread Options
#2214138 - 05/21/19 09:55 PM HMDA Purchase
City Girl Offline
100 Club
Joined: Sep 2005
Posts: 159
Midwest
Business LOC secured by 1-4 dwellings. Loan Purpose - revolving LOC for purchase of future rental homes and improvement of rental RE.

Application is withdrawn. Since this is HMDA reportable how is this coded?

Return to Top
HMDA

   
HMDA Academy
#2214139 - 05/21/19 10:05 PM Re: HMDA Purchase City Girl
TMatt87 Offline
Diamond Poster
TMatt87
Joined: May 2011
Posts: 1,987
Idaho
You can take the stated purpose of the borrower, so you would code as a purchase.
_________________________
All opinions are my own, not my employer's

Return to Top
#2214155 - 05/22/19 11:52 AM Re: HMDA Purchase City Girl
burke116 Offline
Platinum Poster
Joined: Jun 2014
Posts: 568
Petersburg, VA
I agree, as long as you report open-end lines of credit.

Return to Top