HMDA
CFPB Issues Public Statement on HMDA Compliance
December 21, 2018 HMDA, which was originally enacted in 1975, requires many lenders to report information with respect to applications they receive for certain types of mortgage loans and certain loans that they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…
2017 Submission format and 2018 Universal Loan ID (ULI) information
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…
Comply 365 Newsletter: Edition #2
The new edition of the "Comply 365" newsletter has been released to give you the latest news on what's happening at RATA Associates.
- How to Evaluate Fair Lending and CRA Software: What to Test Before You Sign
- How to Evaluate Fair Lending and CRA Software: What to Test Before You Sign
- HMDA Plus: What It Actually Changed in the LAR Workflow
- What a Fair Lending Exam Actually Asks For
- Fair Servicing: What Examiners Test in Servicing Data, and How to Test It First
- HMDA Plus: What It Actually Changed in the LAR Workflow
- How to Fix the 10 Most Common HMDA Edit Check Errors
- 2025 HMDA Filing: Your Complete Preparation Checklist for March 2
- How to Evaluate Fair Lending and CRA Software: What to Test Before You Sign
- What a Fair Lending Exam Actually Asks For
- Fair Servicing: What Examiners Test in Servicing Data, and How to Test It First
- What Actually Counts as a Small Business Loan Under Section 1071
- Section 1071 in 2026: What Lenders Need to Know About Small Business Lending Data
- How to Evaluate Fair Lending and CRA Software: What to Test Before You Sign
- Special Report: Geocoding - Achieving the Highest Accuracy
