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#2289343 - 10/02/23 09:12 PM Repurchase Loan closed in the same calendar year
HMDA Specialist Offline
Member
Joined: Mar 2008
Posts: 78
Hi:

If a loan closed on march 2023 and sold to GNMA, but then repurchase on August 2023:

We must report both transactions (The closed loan from March and the repurchase from August)?

Thanks.

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#2289354 - 10/03/23 12:44 PM Re: Repurchase Loan closed in the same calendar year HMDA Specialist
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,005
Galveston, TX
Official Interpretation
4(a) Data Format and Itemization

5. Purchased loans. i. A financial institution is required to collect data regarding covered loans it purchases. For purposes of § 1003.4(a), a purchase includes a repurchase of a covered loan, regardless of whether the institution chose to repurchase the covered loan or was required to repurchase the covered loan because of a contractual obligation and regardless of whether the repurchase occurs within the same calendar year that the covered loan was originated or in a different calendar year. For example, assume that Financial Institution A originates or purchases a covered loan and then sells it to Financial Institution B, who later requires Financial Institution A to repurchase the covered loan pursuant to the relevant contractual obligations. Financial Institution B reports the purchase from Financial Institution A, assuming it is a financial institution as defined under § 1003.2(g). Financial Institution A reports the repurchase from Financial Institution B as a purchase.
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#2289418 - 10/04/23 12:23 PM Re: Repurchase Loan closed in the same calendar year rlcarey
HMDA Specialist Offline
Member
Joined: Mar 2008
Posts: 78
Thanks.

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