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Refinancing into Texas Home Equity

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  • November 18, 2013 at 3:50 pm EST #4367
    Anonymous
    Inactive

    We did a $250,000.00 loan under Texas Home Equity of which $50,000.00 was to refinance first lien from a different lender and $200,000.00 for debt consolidation. Which amount should I report on HMDA? The entire loan amount of $250,000.00 or only the refinance amount of $50,000.00?

    Thank you
    Sandra

    November 22, 2013 at 9:01 pm EST #4387
    rcooper
    Member

    These q&a’s may help answer your question: https://www.ffiec.gov/hmda/faqreg.htm#loan Take a look at number 2 under “loan purpose”.

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