Temporary Financing
09/29/2019
How can we accurately determine if a loan is temporary financing or not?
You can reach Kathleen via email at kblanchard@keycomplianceservices.com,
09/29/2019
How can we accurately determine if a loan is temporary financing or not?
06/02/2019
Our financial institution has always issued conditional approvals and views that as our final loan approval for determining if an applicant has withdrawn, etc. Should we have revisited this process with the change in HMDA in 2018?
05/26/2019
What is a final credit decision for HMDA, after which a customer’s wish to not proceed with the application is not reported as withdrawn?
05/19/2019
Our conditional approvals are verbal and there is often not sufficient information in the file for the staff that prepares the HMDA LAR to know what conditions are outstanding. How can we report accurately in this situation?
05/12/2019
Our underwriters do not revisit applications after the conditional approval is issued; why would an underwriting condition make our applications not “fully approved”?
05/05/2019
We do not schedule a closing unless all customary closing conditions are met and issue a denial if they are not. Why would we report differently for HMDA than we do for underwriting or creditworthiness conditions?
02/17/2019
The primary collateral for a loan is business assets, although a dwelling was also taken as collateral. Is this loan not reported for HMDA?
02/10/2019
Our financial institution is not a bank or credit union and is regulated by the state. We do not see a choice to enter our regulator on the HMDA LAR. What do we do?
09/23/2018
Can mortgage lenders that are not banks or credit unions take advantage of the new partial exemptions?
09/16/2018
Does this new exemption affect non-reporters such as those who originated fewer than 25 closed-end HMDA reportable mortgage loans?