HMDA: Mixed-Purpose Loans

A loan, often times, has multiple purposes.  For example, you might make a loan to refinance a borrower’s home and also to make some improvements to the home.  In these instances, HMDA reporting banks need to ensure they correctly report the loan purpose.  

So, what is it…a refinance or a home improvement loan?

David explains more in the video.

Find all your HMDA Resources Here!


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