HMDA Refinancings

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