02/13/2022
We are doing a new loan to refinance an existing loan at another bank. The borrower owns the home and the co-borrower lives in the home. The borrower rents to his son.
For HMDA purposes do we consider this an investment property or primary residence? To the borrower it is investment property but the co-borrower it is primary residence.
02/13/2022
What is the HMDA purpose classification when refinancing a construction loan and converting it to permanent financing - purchase or refinance?
12/12/2021
If an applicant completed the Demographic Addendum section on the new URLA and the loan is not HMDA reportable because it is a construction loan, can the GMI be crossed out, or how should this be corrected?
11/28/2021
We have a loan that is HMDA reportable and the borrower is an LLC. On the final application, the demographic information was completed, which it should not have been. Each page of the application references Page 1 of 6, Page 2 of 6, etc. Can we remove the demographic information pages so the last page of the application would read Page 3 of 6? Or, should the completed demographic pages be replaced with blank demographic pages so it still looks like the full application?
10/24/2021
Would a loan be HMDA reportable when the purpose is to provide construction to permanent financing of a new home that will be used for short term rental use?
07/18/2021
Do you know of a chart that illustrates which mortgage loans/applications that are to be reported on the HMDA LAR?
06/06/2021
What is the proper way to report the HMDA credit score and credit score model for the when you receive the informaytion below?
"MODELING/SCORE INFORMATION
FICO NOT AVAILABLE, NO RECENTLY REPORTED ACCOUNT INFORMATION
FICO SCORE 8-EFX-F"
06/06/2021
What is the proper way to report the HMDA credit score and credit score model for the when you receive the information below?
"MODELING/SCORE INFORMATION
FICO NOT AVAILABLE, NO RECENTLY REPORTED ACCOUNT INFORMATION
FICO SCORE 8-EFX-F"
05/09/2021
What are the consequences of sending our annual HMDA LAR late? I am new to this realm of lending. Who do I talk to, to discuss why it is late and does it help that we have never been late in the past?
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.
