Legal Ease is a ‘question of the week’ chosen from actual calls and emails received by our compliance team. Specific questions posed by community bankers are answered in an easy to understand format. Citations to relevant regulations and commentary are routinely provided. A ‘compliance tip’ is usually included at the bottom of each Legal Ease as a best practice or something to watch out for. Past Legal Ease are included in a searchable archive here.
Question of the Week
I have two HMDA questions. We repurchased a loan in 2019 from a third party. Is a repurchase reported as a purchase? And what property value do we report if we receive an update sales contract that reflects improvements paid for by the seller and an increased sales price?
Learn the answer here