Which of the following institutions is NOT subject to the coverage of HMDA? • Bank A, with assets of $55 million and located in a large urban city, makes home improvement loans and some home purchase loans to existing customers, but no mortgage loans. • Bank B, with assets of $9 million and located in a rural area, has several branches, also in rural areas, including one that makes home improvement and home purchase loans. • Mortgage Company C, with assets of $75 million and a home office in a large East Coast city, makes exclusively home purchase loans.

Question

Quizplus · Accepted Answer

Bank B is not subject to HMDA because it has assets below the $50 million threshold and is located in a rural area, which typically exempts it from HMDA reporting requirements.

Which of the Following Institutions Is NOT Subject to the Coverage