B2B: HMDA/CRA/1071 Collection & Reporting

Which regulation has the specific stated purpose of measuring whether lenders are serving the housing needs of their communities?

A. Section 1071/Reg B

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B. Community Reinvestment Act/CRA

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C. Home Mortgage Disclosure Act/HMDA/Reg C

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D. All of the above

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E. None of the above

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In determining whether a loan is a small business loan reportable under Section 1071, the bank should look at:

A. The amount of the loan

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B. The applicant’s gross annual revenue

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C. The purpose of the loan as determined by Reg Z

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D. None of the above

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In determining whether a loan is reportable as a loan to a small business under the CRA, the bank should look at:

A. The amount of the loan

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B. The applicant’s gross annual revenue

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C. The purpose of the loan as determined by Reg Z

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D. None of the above

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Purchased loans are reportable for:

A. CRA & HMDA

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B. HMDA and Section 1071

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C. CRA and Section 1071

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D. CRA, HMDA, and Section 1071

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Community development loans and qualified investments are similar in that they both:

A. Have a primary purpose in community development

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B. Are considered in the Lending Test for “large” banks under the CRA

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C. Include only loans to businesses with a GAR under $5 million

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D. All of the above

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Loan extensions and renewals (without new money) are reportable for:

A. CRA

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B. HMDA

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C. Section 1071.

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D. None of the above.

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HMDA and Section 1071 both require the bank to report

A. NAICS Code

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B. Occupancy Type

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C. Broker Fees

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D. Loan Term

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For which regulation may a bank collect and report an affiliate’s activity, provided the affiliate is not submitting the same information in a separate LAR?

A. CRA

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B. HMDA

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C. Section 1071

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D. All of the above

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E. None of the above

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Under which regulation is demographic information sometimes collected on the basis of visual observation or surname?

A. HMDA

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B. Section 1071

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C. Both HMDA and Section 1071

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D. HMDA, Section 1071, and CRA

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Which of the following is considered a dwelling for HMDA?

A. A recreational vehicle

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B. A houseboat

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C. A trailer

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D. A manufactured home

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