Where to Report HMDA for Home Improvement Loan

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Question:

We have a Home Improvement loan where improvements are being made to the primary residence, but it is secured by a rental home. Do we report the HMDA on the home where improvements are being made or on the home used as collateral?

Answer:

From Page D-11 of the Getting It Right Guide:4(a)(9) Property location.
1. Property location - multiple properties (home improvement/
refinance of home improvement). For a home improvement loan, aninstitution reports the property being improved.

First published on BankersOnline.com 2/13/12