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When you have an application for a loan that will have mixed purposes, which do you report for HMDA? For example, say you have a loan that will both refinance an existing dwelling-secured loan and have some extra money for home equity purposes. Do you report it as a Refinance or as Other (i.e., home equity)?
David explains more in the video.
Determining the loan purpose is just one of the many topics we will cover in this webinar that will walk you through the ins and outs of HMDA.
Published
2021/12/06