Skip to content

Water Softener Reportable As Home Improvement?

Answered by: 

Question: 
If a customer is getting a loan to purchase a water softener for their home would this be HMDA reportable as a home improvement loan?
Answer: 

Yes, if:
1) the loan is dwelling secured, or
2) the bank classifies it as a home improvement loan.

Refer to 1003.2(g)

First published on 04/13/2015

Filed under: 
Filed under lending 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