HMDA: Loan Term vs. Line Term

If you are a HMDA bank, you know some of the data reporting requirements can be downright complicated and others just don’t seem to make sense.  One of the fields you will want to pay close attention to is the “Loan Term” field.  The term you report will differ depending on whether you have a closed-end loan or an open-end line of credit.

David explains the difference in the video.


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