Banker's Compliance Consulting Blog

HMDA Refinancings

Written by David Dickinson | May 16, 2025 4:13:40 PM

HMDA says that a refinancing means a closed-end mortgage loan or an open-end line of credit in which a new, dwelling-secured debt obligation satisfies and replaces an existing, dwelling-secured debt obligation by the same borrower. As you can see, there are a couple of criteria that must be met to be considered a refinancing:

  1. The new and existing loans/lines must be dwelling secured.
  2. The new loan/line must satisfy and replace an existing loan/line.
  3. Both the new loan/line and the existing loan/line must have a common (aka same) borrower.

David explains more in the video.

 

Published
2025/05/16