What is a non originated loan?

Non-Originated Mortgage Loans means all Mortgage Loans which were not originated by the Company, otherwise delivered by the Company to an Investor or with respect to which the Company made representations and warranties to an Investor or PMI similar to those made by an originator.

What loans does HMDA apply to?

If a threshold is met, the institution reports all Applications for Covered Loans that it receives, Covered Loans that it originates, and Covered Loans that it purchases for that type of transaction (either Closed-End Mortgage Loan or Open-End Line of Credit, or both, if both thresholds are met).

Is a loan officer the same as a loan originator?

Of all the parties involved in a mortgage, one of the first people you talk to is likely to be a mortgage loan originator. They may also be referred to as a loan officer. In some cases, this person is a mortgage broker.

What are HMDA reportable loans?

Any loan used, at least in part, for the purpose of improving or remodeling a home whether it is secured or unsecured by real estate, is considered a home improvement loan. The loan can also be used to improve the property the home is on. These types of loans are HMDA-reportable to the FFIEC via the LAR log sheet.

Which loan applications are not reportable under HMDA?

There you will that are not reportable under HMDA. Every loan application, origination, and purchase that falls into one or more of the three categories must be reported.

Do I need to report my HMDA data?

Your HMDA report or lack thereof, if you need to prove that you are no longer required to report HMDA data, should be supported by your loan report data. You should be able to provide reports upon request to show how many closed-end mortgage loans by type and date you originated to demonstrate that you did not meet the reporting threshold.

Are closed-end mortgage loans HMDA-reportable?

Answer: For purposes of determining whether your bank is exempt from HMDA reporting, you should count “closed-end mortgage loans” as defined under HMDA that are HMDA-reportable.

Is your institution compliant with HMDA?

If your institution is required to comply with HMDA, management must ensure that: Procedures are in place for collecting and maintaining accurate data regarding each loan application, loan origination, and loan purchase— for home purchase loans, home improvement loans, and refinancings.