Our Loan originators use "future use" as their loan purpose. I think that phrase is too vague. Do others allow this phrase to be used to describe the loan purpose?

I'd like to know as well. Some of our loan officers check the Other box on the HE and do not list anything else.

Any ideas out there? I think "future use" is too vague. I would like a more specific loan purpose as required (I think) by ECOA.

I don't see a problem. Use future consumer use if you think that might be better. The customer can't give you a purpose when this isn't known at the time the loan closes (this is the nature of a some lines of credit).