source:
  type: regulation
  id: hmda-12cfr-1003.2
  authority: 12 CFR §1003.2 — Definitions (Regulation C)
  description: 12 CFR §1003.2 — Definitions.
  coverage_tier: context
obligations:
- id: hmda-12cfr-1003.2-full
  canonical_id: hmda-12cfr-1003.2-full
  section: 12 CFR §1003.2 — Definitions
  type: reference
  tags:
  - regulator-direct
  - hmda
  - corpus-expansion
  - tier-context
  primary_source:
    tier: 1
    authority: 12 CFR §1003.2 — Definitions (Regulation C)
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1003.2
    snapshot_id: 6d76d8d99e5bc801
    fetched_at: '2026-05-22T11:32:25Z'
    content_hash: sha256:ed2c20d0fc15aad5953f83b89c19d7f58ecc3c88ac535d1bed271da0b5b63efe
    paragraph_quote: '§ 1003.2 Definitions. In this part: (a) Act means the Home Mortgage
      Disclosure Act (HMDA) ( 12 U.S.C. 2801 et seq. ), as amended. (b) Application
      —(1) In general. Application means an oral or written request for a covered
      loan that is made in accordance with procedures used by a financial institution
      for the type of credit requested. (2) Preapproval programs. A request for preapproval
      for a home purchase loan , other than a home purchase loan that will be an open-end
      line of credit , a reverse mortgage , or secured by a multifamily dwelling ,
      is an application under this section if the request is reviewed under a program
      in which the financial institution , after a comprehensive analysis of the creditworthiness
      of the applicant, issues a written commitment to the applicant valid for a designated
      period of time to extend a home purchase loan up to a specified amount. The
      written commitment may not be subject to conditions other than: (i) Conditions
      that require the identification of a suitable property; (ii) Conditions that
      require that no material change has occurred in the applicant''s financial condition
      or creditworthiness prior to closing; and (iii) Limited conditions that are
      not related to the financial condition or creditworthiness of the applicant
      that the financial institution ordinarily attaches to a traditional home mortgage
      application . (c) Branch office means: (1) Any office of a bank, savings association,
      or credit union that is considered a branch by the Federal or State supervisory
      agency applicable to that institution, excluding automated teller machines and
      other free-standing electronic terminals; and (2) Any office of a for-profit
      mortgage-lending institution (other than a bank, savings association, or credit
      union) that takes applications from the public for covered loans. A for-profit
      mortgage-lending institution (other than a bank, savings association, or credit
      union) is also deemed to have a branch office in an MSA or in an MD, if, in
      the preceding calendar year, it received applications for, originated, or purchased
      five or more covered loans related to property located in that MSA or MD, respectively.
      (d) Closed-end mortgage loan means an extension of credit that is secured by
      a lien on a dwelling and that is not an open-end line of credit under paragraph
      (o) of this section. (e) Covered loan means a closed-end mortgage loan or an
      open-end line of credit that is not an excluded transaction under § 1003.3(c)
      . (f) Dwelling means a residential structure, whether or not attached to real
      property. The term includes but is not limited to a detached home, an individual
      condominium or cooperative unit, a manufactured home or other factory-built
      home, or a multifamily residential structure or community. (g) Financial institution
      means a depository financial institution or a nondepository financial institution
      , where: (1) Depository financial institution means a bank, savings association,
      or credit union that: (i) On the preceding December 31 had assets in excess
      of the asset threshold established and published annually by the Bureau for
      coverage by the Act , based on the year-to-year change in the average of the
      Consumer Price Index for Urban Wage Earners and Clerical Workers, not seasonally
      adjusted, for each twelve month period ending in November, with rounding to
      the nearest million; (ii) On the preceding December 31, had a home or branch
      office in an MSA; (iii) In the preceding calendar year, originated at least
      one home purchase loan or refinancing of a home purchase loan , secured by a
      first lien on a one- to four-unit dwelling ; (iv) Meets one or more of the following
      two criteria: (A) The institution is federally insured or regulated; or (B)
      Any loan referred to in paragraph (g)(1)(iii) of this section was insured, guaranteed,
      or supplemented by a Federal agency, or was intended by the institution for
      sale to the Federal National Mortgage Association or the Federal Home Loan Mortgage
      Corporation; and (v) Meets at least one of the following criteria: (A) In each
      of the two preceding calendar years, originated at least 25 closed-end mortgage
      loans that are not excluded from this part pursuant to § 1003.3(c)(1) through
      (10) or (c)(13); or (B) In each of the two preceding calendar years, originated
      at least 200 open-end lines of credit that are not excluded from this part pursuant
      to § 1003.3(c)(1) through (10); and (2) Nondepository financial institution
      means a for-profit mortgage-lending institution (other than a bank, savings
      association, or credit union) that: (i) On the preceding December 31, had a
      home or branch office in an MSA; and (ii) Meets at least one of the following
      criteria: (A) In each of the two preceding calendar years, originated at least
      25 closed-end mortgage loans that are not excluded from this part pursuant to
      § 1003.3(c)(1) through (10) or (c)(13); or (B) In each of the two preceding
      calendar years, originated at least 200 open-end lines of credit that are not
      excluded from this part pursuant to § 1003.3(c)(1) through (10). (h) [Reserved]
      (i) Home improvement loan means a closed-end mortgage loan or an open-end line
      of credit that is for the purpose, in whole or in part, of repairing, rehabilitating,
      remodeling, or improving a dwelling or the real property on which the dwelling
      is located. (j) Home purchase loan means a closed-end mortgage loan or an open-end
      line of credit that is for the purpose, in whole or in part, of purchasing a
      dwelling . (k) Loan/Application Register means both the record of information
      required to be collected pursuant to § 1003.4 and the record submitted annually
      or quarterly, as applicable, pursuant to § 1003.5(a) . (l) Manufactured home
      means any residential structure as defined under regulations of the U.S. Department
      of Housing and Urban Development establishing manufactured home construction
      and safety standards ( 24 CFR 3280.2 ). For purposes of § 1003.4(a)(5), the
      term also includes a multifamily dwelling that is a manufactured home community.
      (m) Metropolitan Statistical Area ( MSA) and Metropolitan Division ( MD). (1)
      Metropolitan Statistical Area or MSA means a Metropolitan Statistical Area as
      defined by the U.S. Office of Management and Budget . (2) Metropolitan Division
      ( MD) means a Metropolitan Division of an MSA, as defined by the U.S. Office
      of Management and Budget . (n) Multifamily dwelling means a dwelling , regardless
      of construction method, that contains five or more individual dwelling units.
      (o) Open-end line of credit means an extension of credit that: (1) Is secured
      by a lien on a dwelling ; and (2) Is an open-end credit plan as defined in Regulation
      Z, 12 CFR 1026.2 (a)(20), but without regard to whether the credit is consumer
      credit, as defined in § 1026.2(a)(12), is extended by a creditor, as defined
      in § 1026.2(a)(17), or is extended to a consumer, as defined in § 1026.2(a)(11).
      (p) Refinancing means a closed-end mortgage loan or an open-end line of credit
      in which a new, dwelling -secured debt obligation satisfies and replaces an
      existing, dwelling -secured debt obligation by the same borrower. (q) Reverse
      mortgage means a closed-end mortgage loan or an open-end line of credit that
      is a reverse mortgage transaction as defined in Regulation Z, 12 CFR 1026.33
      (a), but without regard to whether the security interest is created in a principal
      dwelling . [ 80 FR 66308 , Oct. 28, 2015, as amended at 82 FR 43132 , Sept.
      13, 2017; 84 FR 57980 , Oct. 29, 2019; 85 FR 28404 , 28406, May 12, 2020; 87
      FR 77981 , Dec. 21, 2022]'
  judgment: false
