HMDA’s partial exemption

Answered by:

Question:

2. Can all institutions make use of the HMDA partial exemption?

Answer:

The partial exemption is available only to depository financing institutions (banks, savings institutions and credit unions). Non-depository institutions cannot use this partial exemption. The exemption applies to “small reporters” not institutions with a small asset size. This means a large institution that extends a limited number of dwelling secured loans can qualify.
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Learn more about Kathleen Blanchard’s HMDA for Beginners webinar.