Q: If the bank discontinued its preapproval program during the first quarter, may the bank report the preapproval codes 1 and 2 for home purchase applications received before the change and code 3 (NA) for the applications received after the change? A: If the bank no longer has a covered preapproval program as defined by Regulation C, it would be appropriate to report code 3 or “NA” for applications received after the bank discontinued its program.
This can be found in - HMDA FAQ#12 of the FAQs. The Federal Reserve Board FAQs can be found at: https://consumercomplianceoutlook.org/2011/second-quarter/hmda-and-cra-data-reporting/
Trouble logging in? Simply enter your email address below and we will send you an email that will allow you to reset your login.
For faster and more reliable delivery, add compliance@smslp.com to your trusted senders list in your email software.