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Originate Loan & Sell It- HMDA LAR Reportable?

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Question: 
If we originate a reportable loan and subsequently sell it, servicing released, is it reportable on our HMDA LAR?
Answer: 

If your bank made the credit decision, yes, the bank reports the loan on its LAR and completes the appropriate purchaser code if sold in the same calendar year as originated.

If the purchasing bank/lender made the credit decision, that institution reports the loan on their LAR regardless of what institution's name is on the closing documents.

First published on 06/23/2014

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