Data Dictionary
Item Number 1385
REFINANCING LOANS CLOSEDCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| SVGM1385 | 1981-01-31 | 1985-06-30 | Yes | FHLBB 107 |
Data Description:
The dollar amount of all loans and contracts made during the reporting month to refinance outstanding loans of the reporting institution or of other lenders.
Any loan made on an existing structure in which ownership to the property is not transferred and against which a mortgage loan is already outstanding is considered to be a refinancing loan. Includes loans made for the repayment of mortgage loans held by other lenders and for increases in the amount outstanding on mortgage loans held by the reporting institution, when the new loan is made to the same owner.
If an existing mortgage loan on the reporting institution's books is replaced by a new mortgage loan to the same borrower, only the additional amount should be included in the amount reported in this item. If another lender's mortgage loan is refinanced to the same owner, the entire amount of the new loan should be included in the amount reported.
Excludes any mortgage loans involving a change of ownership, even though the new loan is used to pay off an earlier obligation to the reporting institution on the same property. Such loans are reported in items (1393), (1394), (1381), (1382), (1383) and (1384).