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Type of Purchaser

Minor changes have been made to the codes for identifying the type of purchaser of an originated loan. These changes have been made to increase the utility of the information about the secondary market available to the lenders of HMDA data. Under the previous codes, the categories of “life insurance company,” “commercial bank” and “savings bank or association” accounted for a very small portion of loans sold. About one-third of home loans sold were attributed to Code 9, “other type of purchaser.” The revisions address these matters by expanding certain existing categories, combining others and adding a new category.

REPORTING TYPE OF PURCHASER on the HMDA-LAR

See the “type of purchaser” field on the LAR.

Specifically, the categories for commercial bank, savings bank and savings association have been combined; credit union, mortgage bank and finance company have been added to the life insurance category; and private securitization has been added as a separate category.

For reporting purposes, use one of the following ten code choices:

Code 0 – "Loan was not originated or was not sold in calendar year covered by register."

Code 1 – "Fannie Mae."

Code 2 – "Ginnie Mae."

Code 3 – "Freddie Mac."

Code 4 – "Farmer Mac."

Code 5 – "Private securitization."

Code 6 – "Commercial Bank, Savings Bank or Savings Association."

Code 7 – "Life insurance company, credit union, mortgage bank or finance company."

Code 8 – "Affiliate institution."

Code 9 – "Other type of purchaser."

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