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#987575 - 07/03/08 03:08 PM Unsecured home improvement denial
notuntermywatch Offline
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Joined: Jun 2006
Posts: 392
MN
If we deny a loan that is not dwelling secured but for the purpose of home improvement, is this still HMDA?

We can't classify on our system since we don't book it as such, but on our denial log we maintain we classify it as home improvement.

I think it would still be HMDA but wanted to see what others bank do.

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#987616 - 07/03/08 03:21 PM Re: Unsecured home improvement denial notuntermywatch
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
If you normally classify and report originated non-dwelling secured HI loans then you will report all applications for that purpose. Denials, approves but not accepted, withdrawals, etc.
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The opinions expressed are mine and they are not to be taken as legal advice.

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