08/18/2024
I am auditing our withdrawn files. I was looking at a number of Approved-Withdrawn files and I was wondering if any documentation or any notation is needed?
08/04/2024
We are currently in the process of acquiring a branch of another financial institution. I am by no means a guru in HMDA but certainly not in
acquisitions and this is the first time we've done this in a long time (before my time). I am under the impression aftery some reading of the HMDA Getting It Right Guide, that we have to report the loans we obtain through the purchase. This is okay, but I have others saying that we only have to report the ones they originated in 2024, which I don't think is accurate, but I could be wrong.
Additionally, the other institution's staff members aren't being very forth coming with information and have advised that we will get the information for the files we are getting, however, we will have to go through it to gather the HMDA required data, as they will not provide us with a LAR.
I'm also trying to decipher the guide and if we qualify to not report certain fields, like Loan Costs, Origination Fees and Discount Points.
07/28/2024
This concerns a commercial revolving line of credit that is secured by the borrowers' home. This loan is done in the individuals' names and the purpose of the loan is to purchase, renovate and sell investment houses.
The thing that is confusing me is that they aren't making purchases or renovating with the line right now. Would this loan still be HMDAreportable since it is secured by the borrowers' primary residence?
06/30/2024
Must business purpose loans be reported?
06/23/2024
2. Can all institutions make use of the HMDA partial exemption?
06/16/2024
1. Where can I find a list of the current MSAs to help determine if we must now report for HMDA (or perhaps no longer are a HMDA reporter)?
05/26/2024
Does a line of credit on an improvement of a residential property need to be reported on our HMDA LAR? It will convert to permanent financing after 120 days when construction is to be completed.
05/05/2024
Could you benefit from an update of all the lending regulations facing your FI in 2024?
04/28/2024
Is your FI ready for all the regulatory changes and updates facing you institution in 2024.
04/21/2024
What lending updates do we need to be ready for in 2024?