Every year, thousands of financial institutions rush to meet the March 1 HMDA filing deadline—and every year, edit check errors slow them down. These validation failures can range from simple data entry mistakes to complex logic conflicts that require careful analysis to resolve. After helping institutions file HMDA data for nearly four decades, we've seen the same errors appear again and again. Here's how to identify and fix the 10 most common HMDA edit check errors before they delay your submission. Understanding HMDA Edit Check Types Before diving into specific errors, it's important to understand the three types of HMDA edit checks: Syntax Edits: Verify data format and structure. These must be corrected before submission. Validity Edits: Confirm values fall within acceptable…
The March 2, 2026 deadline for submitting your 2025 HMDA data is approaching. (Note: The deadline is March 2nd this year because March 1st falls on a Sunday.) Whether this is your first filing or your thirtieth, a structured preparation process helps ensure accurate, timely submission and avoids last-minute scrambling. This checklist covers the essential steps compliance officers should complete before submitting to the FFIEC's HMDA Platform. Key Dates to Remember Before diving into the checklist, mark these critical dates: January 1, 2026: Begin final data review and validation February 15, 2026: Recommended internal submission deadline (allows buffer for corrections) March 2, 2026: CFPB filing deadline (no extensions granted) — moved from March 1 because it falls on a Sunday…
Why Redlining Risk Should Continue to Be a Focus During the Next Administration In the lead-up to the change in administration, the CFPB and DOJ have settled redlining claims against non-depository mortgage companies. On January 17, 2025, the CFPB settled redlining claims against a non-depository mortgage company, Draper & Kramer Mortgage Corporation, based on activity from 2019 to 2021 in the Chicago-Naperville-Elgin and Boston-Cambridge-Newton metropolitan statistical areas (Chicago and Boston MSAs, respectively). The CFPB's settlement includes a $1.5 million civil money penalty and a prohibition against the company from engaging in any residential mortgage lending activities for five years. The week prior, on January 7, 2025, the Department of Justice (DOJ)…
Settlement is the first government resolution involving illegal discrimination by a nonbank mortgage lender Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) took action to end Trident Mortgage Company's intentional discrimination against families living in majority-minority neighborhoods in the greater Philadelphia area. The CFPB and DOJ allege Trident redlined majority-minority neighborhoods through its marketing, sales, and hiring actions. Specifically, Trident's actions discouraged prospective applicants from applying for mortgage and refinance loans in the greater Philadelphia area's majority-minority neighborhoods. If entered by the court, the settlement, among other things, would require Trident to pay a $4 million…
Trustmark to Pay $5 Million Penalty and $3.85 Million to Increase Mortgage Credit Access in Memphis Neighborhoods Impacted by Redlining WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), took action today to put an end to alleged redlining by Trustmark National Bank. The CFPB and DOJ allege that Trustmark discriminated against Black and Hispanic neighborhoods by deliberately not marketing, offering, or originating home loans to consumers in majority-Black and Hispanic neighborhoods in the Memphis metropolitan area. The CFPB and DOJ also allege that Trustmark discouraged consumers residing in or seeking credit for properties located in these…
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