Skip to content

No Cash Out Loans HMDA Reportable?

Answered by: 

Question: 
Questioning if either of these loans are HMDA reportable? Loan #1 commercial loan to refinance an owner contract loan on a 12 unit apartment building, no cash out. Loan #2 a commercial loan to refinance an owner contract loan on a mobile home park, that includes a single family rental, no cash out.
Answer: 

In both examples if the old and new loan were to the same borrower and both the old and new loans are secured wholly or partially by residential real estate, the loans will be HMDA reportable as refinances. Cash out has nothing to do with that determination.

First published on BankersOnline.com 6/3/13

First published on 06/03/2013

Filed under: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics