How can the “compliance aid” provision be used?
We have a commercial loan where the borrower took out a loan to reimburse himself for the purchase of an investment property. The property was already owned by the borrower at closing and none of the proceeds were being used to pay off any other loan or to improve this home. Would this be HMDA reportable, and as what purpose?
Which regulator issues the most enforcement actions?
When collecting HMDA information on declined consumer loans, what is the source document for verifying the number of units? Are we OK to use the application where the client indicates the number of units since we do not have an appraisal or do we need to verify using a tax card? Since it's a decline I wasn't sure what the source document would be.
What is the number of calls we can make to a debtor weekly?