Vendor Guru Q&A - Lending

Latest Lending - Reg. C Topics

Mortgage Apps Chart for HMDA LAR

07/18/2021

Do you know of a chart that illustrates which mortgage loans/applications that are to be reported on the HMDA LAR?

Reporting HMDA Credit Score and Credit Score Model

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"

Reporting HMDA Credit Score and Credit Score Model

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"

Consequences of Sending our Annual HMDA LAR Late?

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?

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

Dwelling Exempt from HMDA as Transitional Home?

11/15/2020

If the dwelling will be used for the manager of this corporation to dwell in, is this exempt from HMDA, as a transitional home?

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?

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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.

Mortgage Apps Chart for HMDA LAR

07/18/2021

Do you know of a chart that illustrates which mortgage loans/applications that are to be reported on the HMDA LAR?

Collateral Address- Real Estate Secured (TRID)

07/18/2021

When populating the collateral address for consumer closed-end, real estate secured loans (TRID), is there an industry best standard for WHERE we obtain this address from? I know that it must always include the zip code, and a location (if an address via US Postal Service is not available), but I'm curious if there is an unspoken standard of what document this is best obtained from, such as the counties property record card, the written evaluation provided to us from a certified appraiser, borrower attested to, etc.

Call Report Code 1A2

07/18/2021

Our bank is currently scrubbing our loans in Call Report Code 1A2 - Other construction loans and all land development and other land loans. The following are questions to decide whether some loans are in the right bucket: - What classifies as farmland vs raw land? - Are loans secured by timber tracts considered farmland? - What call report code do trailer parks belong in? - Are they considered "other" land and belong in 1A2 or can it be classified as a 1E2 since it is an income producing property?

Disclosure Exceptions

07/18/2021

How can a bank track disclosure exceptions?

"Board-approved" Estimate- Evaluation Requirements

07/11/2021

Can a Bank use a "Board-approved" Estimate (number only) to satisfy the evaluation requirements if an appraisal is allowed to be waived due to the transaction amount being less than $500,000?

Latest Lending - Reg. C Topics

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