Answer:
Renewals are not reportable. If you are referring to refinances then yes. There is no allowance to use previous collected information in Reg C as there is in Reg B.
First published on BankersOnline.com 7/11/11
New Gov Monitoring Info for Each Loan Renewal?
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Question:
We are a HMDA bank. Do we need to collect new government monitoring information at each loan renewal if the borrower(s) have not changed?
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