Home Mortgage Disclosure Act (HMDA)/Reg C

Does a loan "purchased" refer to us purchasing the loan or the entity purchasing loans from us?

There is no specific definition regarding a "purchased loan" or "purchasing entity" under Regulation C; however, this refers to the entity buying/acquiring the covered loan (unless it is the entity making the original credit decision) and not the entity selling the covered loan. For information regarding the differences between originating a loan and purchasing a loan, refer to the commentary provided in the regulation (citations are provided below).

Citation(s):Commentary ¶4(g)-1ii; Commentary ¶4(g)-2 thru -5