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#1477910 - 12/08/10 07:12 PM CRA HMDA & CDL Reportable?
Ralph Villalon Offline
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Joined: Dec 2010
Posts: 2
A permanent loan to a nonprofit entity secured by and made for the purpose of purchasing a multifamily dwelling with a primary purpose consistent with the definition of community development is both HMDA and CDL reportable.

Is a non cash-out refinance of the same above scenario of an affordable multifamily housing also both HMDA and CDL reportable?

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#1477975 - 12/08/10 08:02 PM Re: CRA HMDA & CDL Reportable? Ralph Villalon
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Yes, a refinance is also reported as HMDA and CDL. Discussing the reason for the refi can be important in establishing the reason it is deserving of CDL credit (better rate, better payments, etc.)
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