A licensing coordinator is reviewing a mortgage file during a supervisory file review. Which statement correctly handles HMDA reporting?
Correct Answer
D) Record the action taken and reportable data points
Covered institutions collect and report HMDA data for covered mortgage applications and loans. The best answer is "Record the action taken and reportable data points".
Why This Is the Correct Answer
Covered institutions collect and report HMDA data for covered mortgage applications and loans. The best answer is "Record the action taken and reportable data points".
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