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#2040368 - 09/24/15 05:18 PM Repurchased Secondary Market Loans
moola741 Offline
Member
Joined: Dec 2003
Posts: 86
If we reported a mortgage loan sold to the secondary market on our LAR and then had to purchase it back from them, is this a reportable loan the second time?

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#2040408 - 09/24/15 06:33 PM Re: Repurchased Secondary Market Loans moola741
JSD Offline
Platinum Poster
JSD
Joined: Oct 2000
Posts: 512
USA
Depends when the repurchase occurred - if same year as it was sold or next.
The December 2010 CRA HMDA Reporter has a great article about this topic.

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#2040446 - 09/24/15 08:10 PM Re: Repurchased Secondary Market Loans moola741
TMatt87 Offline
Diamond Poster
TMatt87
Joined: May 2011
Posts: 1,987
Idaho
Repurchase in same year as original loan - Only report once (purchaser will need to be updated to code 0)

Repurchase in year after original loan - report as a purchased loan
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