For an open-end line of credit with a definite term, report the number of months from account opening until the account termination date, including both the draw and repayment periods. Introductory Rate TRID Disclosures Example: 24 or NA Period Home Equity Loan Agreement and Report the number of months or proposed number of Disclosure months in the case of an application until the first date the interest rate may change after closing or account opening. Preferred Section 1003.4(a)(26) does not require reporting of introductory interest rate period based on preferred rates unless the terms of the legal obligation provide that the preferred rate will expire at a certain defined date. Report for fixed rate and purchased loans. “NA” Balloon Payment Note Balloon Payment No Balloon Payment Interest-Only Payments TRID Disclosures Interest-only payments No interest-only payments Home Equity Loan Agreement and Disclosure Negative Amortization TRID Disclosures Negative amortization No negative amortization Home Equity Loan Agreement and Disclosure Other non-Amortizing TRID Disclosures non-fully amortizing features No other non-fully amortizing features Features Home Equity Loan Agreement and Disclosure Property Value Appraisal or Evaluation Example: 350500 or NA is not rounded. Report if not decision was made, even if you obtained a “NA” property (e.g. withdrawn, closed for incompleteness). Manufactured Home Appraisal Manufactured home and land Manufactured home and not land Secured Property Type Not applicable Manufactured Home Appraisal Direct ownership Indirect ownership Land Property Interest Paid leasehold
For an open-end line of credit with a definite term, report the number of months from account opening until the account termination date, including both the draw and repayment periods. Introductory Rate Period TRID Disclosures Home Equity Loan Agreement and Disclosure Example: 24 or NA Report the number of months or proposed number of months in the case of an application until the first date the interest rate may change after closing or account opening. Preferred Section 1003.4(a)(26) does not require reporting of introductory interest rate period based on preferred rates unless the terms of the legal obligation provide that the preferred rate will expire at a certain defined date. Report “NA” for fixed rate and purchased loans. Balloon Payment Note Balloon Payment No Balloon Payment Interest-Only Payments TRID Disclosures Home Equity Loan Agreement and Disclosure Interest-only payments No interest-only payments Negative Amortization TRID Disclosures Home Equity Loan Agreement and Disclosure Negative amortization No negative amortization Other non-Amortizing Features TRID Disclosures Home Equity Loan Agreement and Disclosure non-fully amortizing features No other non-fully amortizing features Property Value Appraisal or Evaluation Example: 350500 or NA is not rounded. Report “NA” if not decision was made, even if you obtained a property (e.g. withdrawn, closed for incompleteness). Manufactured Home Secured Property Type Appraisal Manufactured home and land Manufactured home and not land Not applicable Manufactured Home Land Property Interest Appraisal Direct ownership Indirect ownership Paid leasehold
2017-HMDA-Procedures.docx