Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Should MECAs (Modification, Extension and Consolidation Agreements) be reported under HMDA as refinancings?

April 26, 2017agreements consolidation extension hmda modification refinancings reported

0

Posted

Should MECAs (Modification, Extension and Consolidation Agreements) be reported under HMDA as refinancings?

1 Answer

0

Posted

No. The rule is unchanged: MECAs are not reportable as refinancings under Regulation C. See 67 Fed. Reg. 7221, 7227 (Feb. 15, 2002). The applicable comment was inadvertently omitted when the Commentary was revised in 2002; the comment will be restored when the Commentary is next revised.