What’s a Refinancing for HMDA?

It’s common for institutions to use the terms, “refinance”, “modification”, and “renewal” interchangeably.  On the surface that might not seem like a big deal, but when it comes to compliance, you really need to understand that different regulations may define those terms differently.  HMDA is one such regulation and it has a very specific definition of “refinance”.

David explains more about HMDA in the video.


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