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#889209 - 01/17/08 02:46 PM HMDA Reporting
15jwolander Offline
100 Club
Joined: Jan 2004
Posts: 208
PA
I have a loan that is for the purchase of a home that is unsecured and owner occupied with no lien. It is a $20,000 loan for 60 months. When I enter this into HMDA the system does not like the unsecured, owner occupied, purchase with no lien. Any suggestions?

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#889244 - 01/17/08 03:04 PM Re: HMDA Reporting 15jwolander
#12 Offline
Diamond Poster
Joined: Jun 2005
Posts: 1,338
For HMDA, a loan has to be both for the purchase of a dwelling and secured by the dwelling to be reportable as a purchase loan. I would say this loan is not reportable.
Last edited by #12; 01/17/08 03:04 PM.
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#889249 - 01/17/08 03:07 PM Re: HMDA Reporting 15jwolander
15jwolander Offline
100 Club
Joined: Jan 2004
Posts: 208
PA
Thank You. I knew I was missing something.

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