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#2246175 - 12/04/20 04:48 PM 2nd mortgages and Reg B
JoeG Offline
100 Club
Joined: Nov 2013
Posts: 127
DuPage county, IL
We are a small community bank that is currently exempt from reporting Hmda data under Reg. C.

When processing 2nd mortgage applications that are closed-end, are we required to collect certain information (like race, sex, or ethnicity) for Reg. B purposes and fair lending audits?

Thanks in advance for your input.

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Fair Lending
#2246178 - 12/04/20 05:31 PM Re: 2nd mortgages and Reg B JoeG
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
1002.13—Information for monitoring purposes.

(a) Information to be requested. (1) A creditor that receives an application for credit primarily for the purchase or refinancing of a dwelling occupied or to be occupied by the applicant as a principal residence, where the extension of credit will be secured by the dwelling, shall request as part of the application the following information regarding the applicant(s):
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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