I need a refresher on loans that we put through a broker. For example, we take an application for a government loan, we take the application and then send it through a broker for approval, once we get approval the loan closes. However, for some of our loans, the loan closes in our name and the loan company sends us our money the following week, for others, the loan does not close in our name (not our funds). Since we are not making the credit decision, would we report ANY of these loans? What about the loans that close in our name?

The application is reported by the entity that made the credit decision regardless of any other factors. Any loans decided by the broker are reported by the broker.

If your bank denies any prior to sending to the broker, you will report those.

Great! Thanks Kathleen!