by Sheila deLa Cruz
Enacted in 1975, the Home Mortgage Disclosure Act was created to provide the public with loan data that can be used to assess how financial institutions are serving the housing needs of their communities. Not something on commercial lenders’ radar—until now— are implications for certain commercial loan transactions that come under the purview of HMDA’s new reporting requirements. This article by Wolters Kluwer attorney Sheila deLa Cruz provides a breakdown of the final rule and the kinds of commercial loans considered reportable.
Read the full article on BankingExchange.com