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#580000 - 07/06/06 04:28 PM abundance of caution
#1hogfan Offline
100 Club
Joined: Mar 2005
Posts: 105
Arkansas
We have a loan to purchase a vehicle that is secured by the vehicle and a 3rd mortgage on the borrower's principal residence as an abundance of caution. Do we need to collect the government monitoring information for this loan?

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CRA
#580001 - 07/06/06 06:05 PM Re: abundance of caution
Skittles Offline
10K Club
Skittles
Joined: Sep 2002
Posts: 13,965
TN
No, it is not HMDA reportable. Obviously, however, you will need a right of rescission and flood determination prior to closing.
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