Interagency Q&A .12(l) – 1: Does the term “home mortgage loan” include loans other than “home purchase loans”?

Compliance > Regulation BB - CRA
Q:  § __.12(l) – 1: Does the term “home mortgage loan” include loans other than “home purchase loans”?
 
A:  Yes.  “Home mortgage loan” includes “home improvement loan,” “home purchase loan,” and “refinancing,” as defined in the HMDA regulation, Regulation C, 12 CFR part 1003.  This definition also includes multifamily (five-or-more families) dwelling loans, and loans for the purchase of manufactured homes.  See also Q&A § __.22(a)(2) – 7.
 
 
 
This Interagency Q&A, and others, was released in July 2016.  The 2016 Q&As consolidates and supersedes all previously published “Interagency Questions and Answers Regarding Community Reinvestment,” and were noted as being effective immediately.  They may be found here:  http://www.ffiec.gov/cra/qnadoc.htm
 

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