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#2086221 - 06/30/16 07:58 PM Same borrower-Almost
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,115
The Great White North
Loan to a trust is being refinanced by a loan to that same trust and the individuals as borrowers. This would still be HMDA reportable because the trust continues to be one of the borrowers right?
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#2086238 - 06/30/16 08:15 PM Re: Same borrower-Almost Bec
JC (Darth HMDA) Offline
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JC (Darth HMDA)
Joined: Dec 2013
Posts: 1,399
CA
So long as this is not a modification to the existing note, you have a lien-for-lien replacement in which one of the borrowers is an obligor on both notes.

My opinion is that this would be HMDA reportable as a refinance.
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#2086308 - 07/01/16 12:58 PM Re: Same borrower-Almost Bec
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Yes, it just takes one borrower carrying over, along with both being dwelling secured, and the prior lien being satisfied and replaced...voila! HMDA reportable.
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