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Not Subject to HMDA Reporting - Collect GMI?

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If part of the proceeds on a home equity loan are being used for home improvement, are we required to collect government monitoring information if we are not subject to HMDA reporting?

You are always subject to the GMI collection requirements of Reg B's 202.13 and its Commentary. You should become familiar with that section. A home improvement loan request is not subject to GMI collection under Reg B.

First published on 3/23/09

First published on 03/23/2009

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