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Latest Lending - Reg. C Topics

Data Collection on HMDA Form- Grantor spouse

05/02/2021

For purposes of data collection on the HMDA form, is a non-borrowing but grantor spouse considered a co-applicant or are they to be left off the form? They are only granting collateral and are not a borrower or guarantor.

Mortgage Transaction to Refinance a Loan

05/02/2021

If a mortgage transaction is to refinance a loan secured by land and to purchase a manufactured home to be set up on that land as part of the same transaction, is this transaction reported as a Purchase or a Cash Out Refinance?

Mortgage Transaction to Refinance a Loan

05/02/2021

If a mortgage transaction is to refinance a loan secured by land and to purchase a manufactured home to be set up on that land as part of the same transaction, is this transaction reported as a Purchase or a Cash Out Refinance?

Collection Method Questions for HMDA

01/26/2020

This question has come up before but I have not seen a clear answer. If the application is NOT taken face to face, how should the collection method questions be answered for HMDA? Code 3 (NA) is only supposed to be for applications where the requirement to report the data does not apply to the covered loan. We would use code 3 on applications where it is an entity. Code 2 (not based on visual observation) would be the only choice that would make sense. What are your thoughts?

Aggregated and Disaggregated Data

04/28/2019

If an applicant chooses not to provide the borrower demographic data do we still collect it based on visual observation and surname?

Additional Borrowers

04/21/2019

How many borrowers can apply using a single Uniform Residential Mortgage Loan Application?

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COMPLIANCE Q&A: Do we need an LEI if not reporting a ULI?

Question: We are a low volume HMDA filer that now qualifies for the new partial exemption for reportable fields.

COMPLIANCE Q&A: HMDA Loan: Reporting number of units

Question: I have a two-part question for the number of units to be reported on a HMDA covered loan.

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Mortgage Transaction to Refinance a Loan

05/02/2021

If a mortgage transaction is to refinance a loan secured by land and to purchase a manufactured home to be set up on that land as part of the same transaction, is this transaction reported as a Purchase or a Cash Out Refinance?

Determining the amount of coverage

05/02/2021

When the building is a 1-4 family dwelling used as a vacation rental, has a transient license, and is rented nightly and weekly to generate income, should we consider residential or non-residential maximum limits?

Data Collection on HMDA Form- Grantor spouse

05/02/2021

For purposes of data collection on the HMDA form, is a non-borrowing but grantor spouse considered a co-applicant or are they to be left off the form? They are only granting collateral and are not a borrower or guarantor.

Mortgage Transaction to Refinance a Loan

05/02/2021

If a mortgage transaction is to refinance a loan secured by land and to purchase a manufactured home to be set up on that land as part of the same transaction, is this transaction reported as a Purchase or a Cash Out Refinance?

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