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#162856 - 02/23/04 11:13 PM Community Development
Anonymous
Unregistered

We reported a multi-family loan for a low income housing project as HMDA and a community development loan for 2002. During 2003, the HMDA loan was modified and extended. Can we report this loan as a CD loan again this year? The modification of the original HMDA note has my head spinning and I've looked at this stuff way too much! Thanks.

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#162857 - 02/23/04 11:21 PM Re: Community Development
Pale Rider Offline
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Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
I am guessing that only new money should be reported for CD purposes, but wait, I am not the CRA queen, that would be Dawnie. A modification would not seem appropriate for counting the loan again for CD purposes.
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Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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#162858 - 02/24/04 05:04 AM Re: Community Development
Princess Romeo Offline

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Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
IMHO - Modification no, renewals yes.
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CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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