FRB FAQs-Should an income amount be reported if the borrower is a corporation but the co-borrower is an individual?

Compliance > Regulation C - HMDA > FRB FAQs
Q:  Should an income amount be reported if the borrower is a corporation but the co-borrower is an individual?
 
A:  The HMDA instructions state that if the applicant or co-applicant is not a natural person, the institution should report “NA” when reporting the income amount for the HMDA application. In this example, the bank should report “NA” because the borrower is not a natural person.
 
 

This can be found in - HMDA FAQ#18 of the FAQs.  The Federal Reserve Board FAQs can be found at: https://consumercomplianceoutlook.org/2011/second-quarter/hmda-and-cra-data-reporting/

 

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