Updating quarterly HMDA LARs

Answered by:

Question:

We must complete our LAR within 30 days of each quarter end. What do we do when a loan is sold in a later quarter?

Answer:

When data changes after completion of the quarterly LAR, it is permissible to update the LAR. In the case of a loan sold in a later quarter but within the same calendar year, update the purchaser type field.
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Learn more about Kathleen Blanchard’s webinar
Reporting Purchased Loans for HMDA 2017 and 2018