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We do one-time closings for our construction/perms. We have been reporting the loans for HMDA purposes when they go to the permanent phase. We had such a loan close in 2013. The permanent phase was to go into effect on 1/1/2014. We just realized that LaserPro brought it into the HMDA LAR (as scheduled) on 1/1/14; however, the loan paid off in late 2013. How should this be handled? It wasn’t reported in 2013.
Tstrait,
I’ve asked Jack to answer your question. You should hear from him soon.
Thanks for your patience.
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