When it comes to HMDA, there is a lot of confusion on reporting the type of action taken, especially when it comes to Approved Not Accepted.
To understand when you should report Approved Not Accepted you need to understand terms such as “underwriting or creditworthiness conditions” and “customary commitment or closing conditions”.
Listen to the video as Dave explains.
We have a “HMDA Action Taken” webinar coming up on June 25, 2019, where we will get into all the HMDA Action Taken codes and get into the weeds on the more complicated ones, like Approved Not Accepted. We hope you will join us!
Want to see more HMDA tools? Check out our Free “HMDA” Resources HERE!