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#1506270 - 02/07/11 08:44 PM Reportable or not
HMDA Specialist Offline
Member
Joined: Mar 2008
Posts: 79
If I have a client with an existing Line of Credit and we modify this Line of Credit outstanding balance in a term loan is CRA reportable or not?

Ex. The Line of credit balance is $50,000.00 and I convert this line of credit in a 60 months term loan of $50,000.00.

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#1506545 - 02/08/11 03:28 PM Re: Reportable or not HMDA Specialist
HMDA Specialist Offline
Member
Joined: Mar 2008
Posts: 79
Any Answer???

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#1506561 - 02/08/11 03:39 PM Re: Reportable or not HMDA Specialist
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Yes, this would be reportable for CRA assuming the loan otherwise meets the requirements for small business or small farm loan.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1509544 - 02/13/11 06:54 PM Re: Reportable or not Kathleen O. Blanchard
PAB79 Offline
New Poster
Joined: Feb 2011
Posts: 2
CRA Review Topics?

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