Preapproval Denial: MSA Reporting With No Address

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Question:

If we did a preapproval and denied the preapproval but did not have an address at the time what do we put for census tract number and MSA?

Answer:

Prequalifications (loan decisions without a property) are not subject to Regulation C HMDA. This decision will not be reported on your HMDA LAR. Be sure to read the new changes to HMDA, as this type of situation may be covered in the future.

First published on BankersOnline.com 7/15/02