Answer:
As with all loans on which no income was relied upon in the credit decision, the income would be listed as N/A.
First published on BankersOnline.com 2/25/13
How to Code IRRL Loan When No Income Required?
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Question:
In regards to HMDA reporting, how are we supposed to code an Interest Rate Reduction Loan (IRRL) where no income was required?
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