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…
December 22, 2018 It's been a major issue for our industry. In fact, one of our feature stories for the December magazine, written by our Managing Editor Sarah Wheeler, details the new risks HMDA reporting represents for lenders. And earlier this year HousingWire warned lenders that if they think compliance is hard now, just wait until the new HMDA regulations kick in. Most of the 2015 updates to HMDA take effect in January 2018. However, now, both the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau — both now led by Trump-administration leaders (more, below) — announced they will not be assessing penalties on HMDA data collected in 2018 and reported in 2019. What's more, the CFPB also intends to open a rulemaking to reconsider…
December 21, 2018 HMDA, which was originally enacted in 1975, requires many lenders to report information with respect to applications they receive for certain types of mortgage loans and certain loans that they purchase. The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the Bureau to expand the data collected and reported under HMDA to include additional information regarding, for example, mortgage loan underwriting and pricing, and authorized the Bureau to require other data. To that end, the Bureau issued a rule in 2015 that requires financial institutions to collect and report additional mortgage information beginning on January 1, 2018. In August 2017, the Bureau issued a final rule making technical corrections, clarifying certain reporting…
As part of the upcoming HMDA changes, we are getting a lot of inquiries on two topics in particular. 1) Handling of the HMDA 2017 data submission in February 2018. There are no data changes to the HMDA 2017 data being submitted in February 2018. The only change to the HMDA 2017 submission is that the submission file itself will go from the current fixed-length record format to a pipe "|" delimited format. This change will be available in version 17 of the Comply software, to be released in 2017. 2) In regards to the Universal Loan Identifier (ULI), RATA Comply will be able to accept loans for 2018 either with or without ULI. As part of the Reporting Entity (RE) properties in Comply there will be a field for the Legal Entity ID (LEI). During the import process all loans that are not Action…
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