04/02/2007
I have one loan secured by three residential properties and all are HMDA reportable. Do I have to file a HMDA form for each property, and if so, would the loan amount be for the initial loan or would I divide the loan amount by the three properties and report for only a third of the loan amount?
02/05/2007
Are commercial loans secured with personal guarantees HMDA reportable?
01/02/2007
Our borrower applied for a home improvement loan, disclosures were mailed and the lender approved the loan without a title search. After review, the senior lender decided that documents could be typed and the borrower could sign the documents but we would not fund until a title search was completed. After receiving the title search and finding several liens ahead of ours, the senior lender decided that we would not fund until the liens were cleared. In the mean time, the borrower has decided they do not want the loan any longer. The problem is that the documents are signed, including the notice of election not to cancel. Can I still consider this a withdrawn application?
10/02/2006
A home loan application was completed on a consumer loan refinance on their dwelling and Credit Life Insurance was financed on the loan. Is the government monitoring information required or prohibited on the home loan application? (Is a refinance with cash out (ie credit life insurance) or cash out for personal use, medical, etc., subject to government monitoring information?)
05/22/2006
This question is in regards to Commercial lending compliance. We have a loan to a Cooperative Homes organization who took out a LOC for improvements to the co-ops (i.e. "dwellings"). Is this loan HMDA reportable?
03/27/2006
How would you treat the refinancing of a home improvement loan (no new money), where both the old and new loans are CD secured? A non-reportable HMDA refinance, or a reportable home improvement loan?
02/13/2006
Our bank is new to HMDA reporting for 2004. If a loan originated prior to 2004 that was for the purpose of purchasing a dwelling or for home improvement, and is now up for renewal, should it be reported now? I understand that a renewal, modification, or extension of existing debt is not reportable for HMDA purposes, but in this case, should it be reported?
02/13/2006
I participated in the January 12 HMDA seminar, and have a question from the materials. On page 12, I need some clarification on the definition of Refinance. 1) Could you define the distinction between 'coverage purposes' and 'reporting purposes'? 2) It states that "...the existing obligation is a home purchase loan..." Does this mean that a loan that has already been refinanced in the past does not qualify? How about a refinance of a home improvement loan?
02/13/2006
A customer purchased rental property with a line of credit at another bank. We are refinancing the loan, and taking a first deed of trust on the property. Is this HMDA reportable? I have been told that on business purpose loans that get refinanced from one bank to another are excluded. Is this correct?
02/13/2006
Is a mobile home HMDA reportable? Does it matter if they are permanently attached to a property or not? Are there any differences in mobile homes in general, or are they all considered the same as far as reporting goes?