Reporting “Action Taken” for HMDA

While the Action Taken data field may seem pretty straightforward on the surface, it’s actually one of the more confusing requirements in HMDA.  The regulation talks about “customary commitment or closing conditions” and “underwriting or creditworthiness conditions”.  In plain English, we refer to these as “property stuff” and “applicant stuff”.  These especially come into play with the “approve not accepted” code. 

David explains more in the video

Published
2021/04/13

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