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Home Mortgage Disclosure Act (HMDA)/Reg C
Frequently Asked Questions
Disclaimer: These questions and answers are provided based on those received during webinars provided by the Ellie Mae Compliance Department, and those submitted to Ellie Mae directly by you. This content is intended for general information purposes with the goal of assisting Ellie Mae’s customers and non-customers, in complying with the future provisions under Regulation C (HMDA). This information is provided as a courtesy to Ellie Mae’s customers and Ellie Mae makes no representation or warranty regarding the accuracy of the information set forth herein, and you may not rely on this information to ensure your company’s compliance with Regulation C (HMDA). This publication should not be construed as legal advice or opinion on any specific facts or circumstances, including the application of the HMDA regulations. You are advised to consult your own compliance staff or attorney regarding your specific residential mortgage lending questions or situation to ensure your compliance with all applicable laws and regulations.
The commentary to Regulation C addresses the exclusion for such loans as long as the loan is for temporary financing not intended to be replaced by permanent financing. Here is a summary of the commen...
The quick answer is yes, but is based on either of the two preceding calendar years. In 2018 when open-end lines of credit are reportable (as opposed to presently where they are optional reporting), t...