Answer:
You must always collect GMI under the provisions of Reg. B.This previous discussion addresses the topic in some detail.
First published on BankersOnline.com 3/14/11
Government Monitoring of Non-Reportable HMDA Loan
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Question:
I have read that if a loan is not HMDA reportable that you should not collect GMI. Is this the case. I know there is a difference between the Regs (B) and (C) and just want to be sure I am passing on accurate information.
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