Answer:
There is no rule specifying how to choose the property to report on the LAR. A financial institution could select the largest one, the one with the highest appraised value, the one that is inside of the assessment area, or the one that is in a low-or-moderate income tract. It is entirely up to the financial institution to develop a method to make this choice.
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Learn more about Kathleen Blanchard’s webinar Complex challenges in the new HMDA rules
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