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HMDA: What’s a Purchase?

HMDA banks are required to collect and report data regarding applications for dwelling-secured loans or lines where the purpose is to:

  • Purchase a Dwelling;
  • Refinance a Dwelling;
  • Improve a Dwelling; or
  • Home Equity (consumer purpose).

So, what is a “purchase” for HMDA?  There’s more to it than you might think.

David explains more in the video.

Ready to learn more?  JOIN US for our webinar, “HMDA Covered Transactions”.  Featured topics include:

  • Covered Financial Institutions – “Loans” and/or “Lines”
  • Reportable “Loans” vs. Reportable “Lines”
  • What’s a Dwelling?
  • Mixed-Use Properties
  • Mixed-Use Loan / Line Purposes
  • What’s NOT Covered?
  • “Covered” Pre-approval Programs
  • Plain English Answers to Your Questions & Much More! 

Published
2022/02/07

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