Posted By: Likes to Comply
CLTV - Didn't round but is 80.0 - 12/03/17 03:20 AM
CLTV is always calculated to one decimal place for credit approval at our FI. So if it happens to be a whole number, it would still be noted as 80.0 on a write up for credit approval. Would we report it with one decimal place 80.0 or as 80 for HMDA.
FIG -
Enter, as a percentage, the ratio of the total amount of debt secured by the property to the value
of the property relied on in making the credit decision. Use decimal places only if the ratio relied
upon uses decimal places.
Example: If the relied upon combined loan-to-value ratio is 80.05, enter 80.05, and not 80.
If, however, your institution rounded the ratio down to 80 and relied on the rounded-down
number, enter 80.
FIG -
Enter, as a percentage, the ratio of the total amount of debt secured by the property to the value
of the property relied on in making the credit decision. Use decimal places only if the ratio relied
upon uses decimal places.
Example: If the relied upon combined loan-to-value ratio is 80.05, enter 80.05, and not 80.
If, however, your institution rounded the ratio down to 80 and relied on the rounded-down
number, enter 80.