FORUM PROFILE

Refinance by same Borrower?

  • Creator
    Topic
  • #5283
    TheBank
    Participant

    To meet the HMDA definition, a refinance must be by the same borrower. We frequently have loans were an entity refinance into the principal owner’s name or an individual refinances into the entity name. I am considering partnerships, LLCs, and corporations as entities, but not sole proprietorships. Does this sound correct?

Viewing 1 replies (of 1 total)
  • Author
    Replies
  • #5297
    rcooper
    Member

    What you have described would be a change in borrowers.

Viewing 1 replies (of 1 total)
  • You must be logged in to reply to this topic.