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Getting all the HMDA info in the app

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Question: 
A loan officer took an application for a dwelling secured but failed to ask what type of dwelling (site built, manufactured home, etc. Can we report NA for that field?
Answer: 

This is a good example of necessary information to trigger a HMDA application. The construction type must always be completed on the HMDA LAR and therefore should be one of the fields obtained in the initial conversation. If the applicant withdrew or the application was quickly denied to something like bankruptcy, it can be difficult to obtain missing required information. Fields like that should be part of your HMDA application definition.

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First published on 03/07/2021

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