Answer:
Yes. You need to collect GMI for Regulation B, but you would not report this information on your HMDA LAR.
GMI Collection for Regulations B & C
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Question:
We are a HMDA bank and do not report (open end) HELOCs. Should we still collect Government Monitoring Information for Regulation B purposes when the customer tells us the funds are to be used to purchase or refinance a principal dwelling?
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