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#475074 - 12/27/05 04:24 PM HMDA PreApproval Withdrawn
OldSchoolBanker Offline
Platinum Poster
Joined: May 2005
Posts: 662
FL
I am brain dead today after the holidays and need a refresher. Tried to read up but am confused.

We have a batch of PreApprovals, some were withdrawn prior to a loan decision, others received the initial approval, but never provided an address and cancelled. We do not have the address and in the case of the early withdrawn prior to Underwriting, no income either.

Do both of these categories get reported in the HDMA LAR or can we not report them?

Thanks!

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Lending Compliance
#475075 - 12/27/05 06:59 PM Re: HMDA PreApproval Withdrawn
Love those Regs Offline
Gold Star
Joined: Apr 2002
Posts: 296
Southern State
Preapproval requests that are withdrawn (credit decision not made) are not reported under HMDA.
Type of Action - code 8 - preapproval request approved but not accepted (optional reporting).
Got this from the HMDA getting it right book - page A-3
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