Latest Lending - MSA Topics

Does MSA Make Us HMDA Reportable?

10/25/2010

Our bank is currently not subject to HMDA reporting. If we open a loan production office in a metropolitan statistical area, would this make us a required HMDA reporter?

Asset Size - HMDA Reporting

11/12/2007

Our bank operates branches in multiple counties throughout the state. This fall, two of our coastal branches will be chartered into their own bank. We will no longer report their HMDA loans after their conversion date. Is there any reason we would not report the loans from January 1st until their conversion date on the lead bank's LAR? Will the new bank have to report their HMDA loans from conversion to December 31st if their asset size is over the threshold? My thought process tells me no since they would not have had any assets of their "own" for the prior two years. They will be located in an MSA and will have initial assets over the threshold.

Extending CRA Assessment Area

03/26/2007

We are considering extending our CRA assessment area to include a portion of the surrounding counties. None of these areas is a MSA or considered distressed. What, if any, compliance issues would we face doing this? Also, is there a maximum percentage of our loans that can be outside our assessment area?

HMDA: Using HMDA Data

10/01/2005

The 2004 HMDA data is finally out and the numbers show what we expected and feared: Black Americans fare less well in the mortgage market than non-Hispanic whites. Now what?

Fair Lending Enforcement: Something Old, Something New (7 Action Steps)

12/01/2004

The U.S. Department of Justice is working hard at fair lending enforcement. This is not a concern that has faded into the background. Quite the opposite is true.

HMDA MSA Boundaries - Mary Beth Guard

10/11/2004

HMDA MSA Boundaries
Answer by Mary Beth Guard, BOL Guru
Guru BIOS

HMDA Occupancy Code Non MSA Property

04/05/2004

Should we be reporting a HMDA code "3" in the owner occupancy category when the property location is not in an MSA, or can we report a "1 - owner occupied" or "2 - not owner occupied"?

Tips On Preparing For New HMDA

06/01/2003

At PCi's annual User Conference, several speakers shared their ideas for the transition to new HMDA. First, be prepared for last minute change.

Affordable Loan Program and Fair Lending

06/03/2002

We have an affordable loan program that is specifically geared towards minorities, females, household incomes that are less that 80% of HUD's MSA Median Family Income, a property located in a low income census tract or that is considered mostly minority and a first time homebuyer that does not meet any of the above -- any of these individuals will receive an 1/8% rate reduction. Are there any fair lending/CRA issues that we need to be concerned about?

Running the HMDA Gauntlet

12/01/1999

You have two months to get your HMDA report entered, checked, corrected, and sent in. And that's on top of all the Y2K activities.

Is your institution one of the 1,700 new HMDA reporters? Start here.

12/15/2024

Are you one of the 1,700 HMDA reporting institutions that was required to start collecting and reporting data ? Here’s where to start.

45 day letter/forceplacement time frames

12/15/2024

We have a question on the 45 day letter/forceplacement time frames. Can you give an example of the timing when a policy expires on 12:01 am on April 1st. The 45 day letter would go out on the 1st, when would you actually forceplace; the 46th day after the date of your letter? Please also clarify the FEMA lapses due to funding. Were you saying that if we have a FEMA policy in place and the government lapses the program, we are required to have them obtain a private policy or we need to start our 45 day forceplace process until the government reinstates the program?

Life of the loan

12/15/2024

What does the phrase “life of the loan” refer to?

Milestones and the life of the loan

12/08/2024

What are some key milestones in the life of a typical loan?

Force Placed Insurance Question

12/08/2024

We are looking into changing our procedures regarding force placed insurance, on both hazard and flood. Currently, we have been increasing the principal balance of the loan and including the premium in our coverage amount. We have not however; on flood, been pulling another flood determination or providing a new flood notice. We thought since they were “life of loan”, we were ok. We are wanting to change the procedure, to adding the force placed insurance as a fee and renewing/charging at time of balloon. My question is…are we in compliance if we only cover the principal balance and not include the payoff (which will contain our premium)?

Latest Lending - MSA Topics

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