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Reporting GMI on LAR If Only 1 App Signed Note

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Question: 
HMDA - GMI: two applicants but only one signed the note. What GMI do we report on the LAR?
Answer: 

When an application results in an originated loan, you report on actual borrowers on the note. The file should explain why the other applicant is no longer part of the transaction.

First published on BankersOnline.com 7/01/13

First published on 07/01/2013

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