HMDA LAR - Prop Location

Posted By: Dallas Fan

HMDA LAR - Prop Location - 01/07/13 07:31 PM

I am conducting a review and noticed some entries on LAR where they put "NA" for prop location because the loan app was withdrawn. I think NA is only to be used for Preapproval Requests and you are still required to have prop location even if loan is withdrawn. Am I correct?

Thanks!
Posted By: Truffle Royale

Re: HMDA LAR - Prop Location - 01/07/13 07:40 PM

yes
Posted By: RR Becca

Re: HMDA LAR - Prop Location - 01/07/13 07:42 PM

the only exception would be purchase of a mobile home when the location of the mobile home was as yet undetermined. Then you can have NA for location on a withdrawn or denied application.
Posted By: raitchjay

Re: HMDA LAR - Prop Location - 01/07/13 08:01 PM

Or if the property isn't in an MSA where your bank has a branch (happens here a lot).
Posted By: Dallas Fan

Re: HMDA LAR - Prop Location - 01/07/13 08:24 PM

Thanks for the help!
Posted By: hmdagal

Re: HMDA LAR - Prop Location - 01/07/13 11:38 PM

Originally Posted By: raitchjay
Or if the property isn't in an MSA where your bank has a branch (happens here a lot).


If you're also a CRA reporter this doesn't apply.
Posted By: raitchjay

Re: HMDA LAR - Prop Location - 01/08/13 04:15 AM

I always forget that since we're not a CRA reporter. Thanks for the reminder hmdagal.