Skip to content

Unsecured Loan Classified as Personal-Reportable?

Answered by: 

Question: 
If you classify an unsecured loan that was for installing heating and cooling as a personal loan on your books, is that HMDA reportable?
Answer: 

No, unsecured loans would have to be carried on the bank's books as a home improvement loan to be reportable.

First published on BankersOnline.com 3/5/12

First published on 03/05/2012

Filed under: 
Filed under compliance 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