Reporting Loans with No Loan Amount

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February 12, 2019 at 11:06 am EST #14508

Anonymous
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We have a loan application for a property that has been verified to be a dwelling. The dwelling is the collateral for the loan. We do not have a pre-approval program. The application has been withdrawn.

We do not have a loan amount. Is this loan HMDA reportable? If so, how do we report without a loan amount?
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February 13, 2019 at 11:30 am EST #14534

jholzknecht
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Regulation C requires that open-end lines of credit and closed-end mortgages loans be reported. Both categories must be secured by a dwelling. The reported loan amount could be 0.00 if the application is denied, withdrawn or closed for incompleteness at an early stage or for a preapproval request.
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