FRB FAQs-For purchased CRA loans (Action “6”), do we report revenue as “NA”?

Compliance > Regulation C - HMDA > FRB FAQs
Q:  For purchased CRA loans (Action “6”), do we report revenue as “NA”?
 
A:  The data collection and reporting requirements outlined in §228.42 of Regulation BB require an indicator of whether the loan was to a business or farm with gross annual revenues of $1 million or less. The “NA” response should be used only when the gross annual revenue information is not available or was not used in making the credit decision.
 
 

This can be found in - CRA FAQ#4 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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