John and Elise Fernandez apply to ABC Bank for a loan to purchase a manufactured home. ABC Bank is a community bank with approximately $100 million in assets, and the home would be located outside of the bank's metropolitan area. Mr. and Mrs. Fernandez complete an in-person application for a mobile home that is denied by the bank due to insufficient income. Which piece of information on the Fernandez application is ABC Bank NOT required to report on its HMDA LAR?

Question

Quizplus · Accepted Answer

The metropolitan area where the home will be located is not a required piece of information to be reported on HMDA LAR. HMDA requires reporting of applicant ethnicity, race, the purpose of the loan application, and other relevant data points.

John and Elise Fernandez Apply to ABC Bank for a Loan