The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to inform national banks, federal savings associations, and federal branches and agencies (collectively, banks) and all OCC examining personnel about new Federal Financial Institutions Examination Council (FFIEC) examination procedures for testing and validating the accuracy and reliability of home mortgage loan data . HMDA also required financial institutions to report certain applicant and borrower demographic data, such as ethnicity, race, gender, and . Who Reports HMDA Data? A complete list of HMDA data points and the associated data fields is found in Appendix A of the FFIEC's Filing Instructions Guide for HMDA Data Collected in 2018. Quarter 1 filing period: April 1 - May 30, 2020; Quarter 2 filing period: July 1 - August 29, 2020 The census and demographic data, the FFIEC said, support the collection, reporting, and analysis of CRA and HMDA data. If you cannot find a particular financial institution using this form, the institution may not have been required to report HMDA data or it may not have completed its HMDA data . These changes can be found in the 213 Federal Register pages in PDF format. The data are intended to be used only for CRA and HMDA purposes and "may not be suitable for other analytical purposes," the exam council said. On March 30, the FDIC issued FIL-21-2021 announcing the Federal Financial Institutions Examinations Council's issuance of the 2021 edition of the "Guide to HMDA Reporting: Getting It Right!" The guide applies to HMDA data collected in 2021 that will be reported to supervisory agencies by March 1 . Section 1817 (State nonmember banks); and 12 U.S.C. 1 On December 21, 2017, the Consumer Financial Protection Bureau (CFPB) announced plans to reopen the 2015 HMDA Rule. Depository institutions . Banks submit to their governing bodies an annual HMDA loan application register (LAR) containing pertinent government monitoring information. The Home Mortgage Disclosure Act (HMDA) requires many financial institutions to maintain, report, and publicly disclose loan-level information about mortgages. Initially, HMDA required reporting of the geographic location of originated and purchased home loans. The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering. A complete list of HMDA data points and the associated data fields is found in the FFIEC's Filing Instructions Guide for HMDA Data Collected in 2020. The HMDA data and research page also provides access to loan-level datasets and information about compliance and other HMDA resources. Regulatory Implementation Resources. Home Mortgage Disclosure Act Examination Procedures . (2) A subsidiary of a bank or savings association shall Annual HMDA data submissions for the 2019 filing year are accepted January 1 - March 1, 2020. required to report HMDA data.9 The same survey revealed, that on average, survey respondents originated just over 300 closed-end mortgage loans per year. 1 1 Use the new HMDA lobby notice. Summary: The Federal Financial Institutions Examination Council (FFIEC) is issuing guidelines for examiners to use in assessing the accuracy of the Home Mortgage Disclosure Act (HMDA) data institutions record and report. 1. Agency Rule-Making & Guidance FDIC FFIEC HMDA CFPB Regulation C Mortgages Bank Regulatory. 1 9/7/18 --The 2018 HMDA Rule and updated 2018 HMDA FIG are now available. 11 Additionally, pursuant to the Bureau's amendments to Regulation C, from . In summary, the October 2015 changes modified: Institutional and Transactional Coverage; Reportable Data Requirements HMDA requires lenders to report the ethnicity, race, gender, and gross income of mortgage applicants and borrowers. The party making the credit decision must report HMDA data. Certain smaller-volume financial institutions are not required to report all of these data, pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). 5/7/18 --The press release, 2017 HMDA Data Point and snapshot HMDA data files are now available. To allow for easier public access to all LAR data, the Bureau's 2015 HMDA rule required that the data be available electronically for all institutions. The FFIEC HMDA Examiner Transaction Testing Guidelines will be applied during examinations of all entities required to report HMDA data and, therefore, must begin implementing updated HMDA requirements for data collection, beginning Jan. 1, 2018, and data reporting, beginning Jan. 1, 2019. § 1003.4(a)(1)-(38) on a loan application register (LAR) containing 110 "data fields," as specified in the applicable Federal Financial Institutions Examination Council 4 Beginning with data collected on or after January 1, 2018, financial institutions subject to HMDA collect and report data on covered loans specified in 12 C.F.R. Who reports HMDA data for brokered loans? Technical documentation has accompanied each . The FFIEC census data are used to create the Home Mortgage Disclosure Act (HMDA) and the anti-redlining Community Reinvestment Act (CRA) aggregate and . Depository and for-profit nondepository institutions must report HMDA data depending on their asset size, extent of business in a metropolitan statistical area, and whether or not they . Thus, in addition to their annual data . 2019 is the second year for which institutions were required to collect and report data under the expanded . FFIEC HMDA Website. Washington, DC, Federal Financial Institutions Examination Council; Note Title from header Base of film safety base undetermined Carrier category microfiche Carrier category code he Carrier MARC . For a financial institution to submit its file, it must be in pipe delimited format. Available below are the data and reports for HMDA data collected in or after 2017. Enter a financial institution's name to download its modified LAR file. For HMDA data reporting beginning in 2018, a web-based data submission and edit-check system (the HMDA Platform) is available to process HMDA data. This is early. This bulletin sets out the key data fields separately for banks that are required to report all of the data, as set forth in the Home Mortgage Disclosure Act (HMDA) rule issued in October 2015 1 and revised in September 2017, 2 and for banks that qualify for a partial exemption from HMDA reporting under the interpretive and procedural rule 3 . The FFIEC Geocoding/Mapping System (System) helps financial institutions meet their legal requirement to report information on mortgage, business, and farm loan applications. Highlights. This item is available to borrow from 1 library branch. Data reporting. Specifically, the act requires financial institutions to keep records of cash purchases of . For HMDA data reporting beginning in 2018, a web-based data submission and edit-check system (the HMDA Platform) is available to process HMDA data. For more information on the format and how to submit the file, review the Filing Instructions Guide. Depository and for-profit nondepository institutions must report HMDA data depending on their asset size, extent of business in a metropolitan statistical area, and whether or not they . transfer ofelectronic records. A, C, and D are incorrect because it is the FFIEC that works with all of the agencies to efficiently collect and report HMDA data from the home lenders under their jurisdiction. (a) Reporting to agency. Highlights. In any event you should have your 2015 and 2016 LAR data and HMDA Disclosures available. The Federal Financial Institutions Examination Council (FFIEC) reiterated the CFPB's statement last week that as of March 26 "and until further notice, the CFPB does not intend to cite in an examination or initiate an enforcement action against any institution for failure to report its HMDA data quarterly." The 2021 guide discusses. 11/7/18 --The 2019 HMDA FIG was made available on 10/23/18. Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA Interagency Examination Procedures cover HMDA data collected in or after 2018, that is, for loans and applications for . Protection Act of 2010 (Dodd-Frank Act), HMDA required financial institutions to report data regarding applications, loan originations, and loan purchases, as well as certain requests _____ 1 12 USC 2801 - 2810. HMDA, enacted by Congress in 1975, requires most mortgage lenders located in metropolitan areas to collect data about their housing-related lending activity, report the data annually to the government, and make the data publicly available. The HMDA data cover 2016 lending activity and include: […] Key data fields are identified to support the efficient and effective evaluation of banks' compliance with the HMDA requirements. The FFIEC said this edition of the guide is the comprehensive edition for the 2021 calendar year data. The HMDA Beta Filing Platform is open throughout the year to test your HMDA data. A complete list of HMDA data points and the associated data fields is found in Appendix A of the FFIEC's Filing Instructions Guide for HMDA Data Collected in 2019. FFIEC issued the 2021 edition of guide to Home Mortgage Disclosure Act (HMDA) reporting for the data collected in 2020 and reported in 2021. The umbrella Federal Financial Institutions Examination Council (FFIEC) will publish a query tool for the 2018 data in the coming months, the CFPB notes, which will be available at ffiec.cfpb.gov.The bureau says loan-level HMDA data and aggregate and disclosure . The old data doesn't seem to be fully available on the CFPB website yet, so make the actual disclosure available upon request. A Guide To HMDA Reporting: Getting It Right! For HMDA data collected by banks in 2018 and reported in 2019, the OCC does not intend to require data resubmission unless data errors are material. Who Is Required To Report Hmda Data? HMDA reporting agencies and the FFIEC. The number of reporting institutions in the 2018 data report is down by about 2.9 percent from 2017's 5,683. 1 Getting It Right provides a summary of key . Home Mortgage Disclosure Act (HMDA) Data: Guide to HMDA Reporting, 1990 Record Group 82 Records of the Federal Resenre System . HMDA Data Publication. HMDA Filing - Quarterly Filing Period Dates. A bank required to report HMDA data shall include in its public file a copy of the HMDA Disclosure Statement provided by the Federal Financial Institutions Examination Council pertaining to the bank for each of the prior two calendar years. The National Archives and Records Administration (NARA) has been accepting electronic . which can serve as a useful resource to assist financial institutions that are required to collect and report HMDA data pursuant to the 2015 HMDA Final Rule and the 2017 amendments. In recent years the data were released in August or September, although the 2017 data were released in May. This report form is to be filed by banks with branches and consolidated The HMDA Examiner Transaction Testing Guidelines (Guidelines) describe FFIEC procedures for sampling and validating HMDA data. 1639. Depository and nondepository institutions must meet certain reporting criteria before they are required to complete a HMDA Loan Application Register (LAR), as a result of applications for, and originations and purchase of home purchase loans (including refinancings and home improvement loans). According to a September 13, 2005, Federal Financial Institutions Examination Council (FFIEC) press release, 8,853 institutions reported HMDA data for 2004. 2022 Reportable HMDA Data: A regulatory and reporting overview reference chart - Reference tool for HMDA data required to be collected and recorded in 2022 and reported in 2023, as well as when and how to report HMDA data as "not applicable." Certain smaller-volume financial institutions are not required to report all of these data, pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). Previously, users could obtain LAR data only by making requests to specific institutions for their annual data. This bulletin applies to all banks 2 subject to HMDA data collection and reporting requirements. Act), HMDA required financial institutions to report data regarding applications, loan originations, and loan purchases, as well as certain requests under a pre-approval program (as defined in Regulation C). In 1989, Congress expanded HMDA data to include information about denied home loan 2021 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! In addition, institutions must report data regarding the ethnicity, race, sex, and annual income of applicants for applications and originated loans; reporting these data is optional for purchased loans. Because Reg C implementing HMDA requires a register form of reporting (LAR), banks are encouraged to collect this data and to maintain the LAR on an . requirements for reporting and . Covered institutions include banks, savings associations, credit unions, and mortgage companies. The modified LAR data represents the most current HMDA submission made by an institution. If the investor makes the credit decision, it reports. For HMDA data reporting beginning in 2018, a web-based data submission and edit-check system (the HMDA Platform) is available to process HMDA data. For HMDA data collected prior to January 1, 2018, Reserve Banks will continue to examine financial institutions pursuant to the interagency HMDA examination procedures transmitted with CA 09-10 and the HMDA sampling and resubmission procedures transmitted with CA 04-4. It includes a summary of responsibilities and requirements, directions for assembling the necessary tools, and instructions for reporting HMDA data. metropolitan areas to collect data about their housing-related lending activity, report the data annually to the government, and make the data publicly available. Section 324 (State member banks); 12 U.S.C. Attached is the letter discussing the changes that will impact the upcoming reporting cycle. If the broker makes the credit decision based on an investor's loan policies, it reports that decision. Of 110 data fields, 37 have been identified as key fields by the OCC, Federal Reserve Board (FRB), and Federal Deposit Insurance Corporation (FDIC) on an interagency basis. Yes Jack, We will also be exempt for 2018 based on our 2 year look back. On June 24, 2020, the Federal Financial Institutions Examination Council (FFIEC) announced the release of the 2019 Home Mortgage Disclosure Act (HMDA) data. The Federal Financial Institutions Examination Council (FFIEC) has revised A Guide to HMDA Reporting: Getting It Right! metropolitan areas to collect data about their housing-related lending activity, report the data annually to the government, and make the data publicly available. It includes certain census, income, and metropolitan area data for geographies. institutions covered by Regulation C. transactions covered by Regulation C. information that covered institutions are required to collect, record, and report. This chart is intended to be used as a reference tool for data points required to be collected, recorded, and reported under Regulation C, as amended by the HMDA Rules issued on October 15, Financial institutions must record data on their HMDA-LAR within 30 calendar days of the end of the calendar quarter in which final action was taken. The list is geared to getting banks to adopt practices that will help them establish more efficient data collection routines and systems, thus providing regulators with more accurate reporting. GMI Reporting. (1) By March 1 following the calendar year for which the loan data are compiled, a financial institution shall send its complete loan/application register to the agency office specified in appendix A of this part. 4 . Initially, HMDA required reporting of the geographic location of originated and purchased home loans. The HMDA data and reports are the most comprehensive publicly available information on mortgage market activity. According to a September 13, 2005, Federal Financial Institutions Examination Council (FFIEC) press release, 8,853 institutions reported HMDA data for 2004. FFIEC HMDA, MSA 3760, Kansas City, MO-KS | Aggregate report; Publication. This webinar will provide valuable assistance to all personnel with HDMA reporting responsibilities in banks or other mortgage issuing institutions. In separate releases, the Federal Financial Institutions Examination Council (FFIEC) said that 2021 census flat files, and the 2021 FFIEC median family income report, are now available. Regulatory Implementation Resources. This bulletin sets out the key data fields separately for banks that are required to report all of the data, as set forth in the Home Mortgage Disclosure Act (HMDA) rule issued in October 2015 1 and revised in September 2017, 2 and for banks that qualify for a partial exemption from HMDA reporting under the interpretive and procedural rule 3 . The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2019 mortgage lending transactions at 5,508 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Act), HMDA required financial institutions to report data regarding applications, loan originations, and loan purchases, as well as certain requests under a pre-approval program (as defined in Regulation C). HMDA Final Rule. institutions covered by Regulation C. transactions covered by Regulation C. information that covered institutions are required to collect, record, and report. 3/25/19 --The 2019 Guide to HMDA Reporting is now available. Highlights The revised procedures address changes to the effective dates for banks that meet or exceed either the closed-end mortgage loans or the open-end lines of credit loan-volume threshold in each of the two preceding calendar years: In addition, a bank that elected to have the FDIC (Federal Reserve/OCC/OTS) consider the mortgage lending . Certain smaller-volume financial institutions are not required to report all of these data, pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The 2021 guide applies to community banks 2 that are subject to HMDA data collection and reporting requirements. A Bank With Domestic and Foreign Offices Only—FFIEC 031 Report at the close of business December 31, 2005 This report is required by law: 12 U.S.C. The item FFIEC HMDA, MSA 2960, Gary, IN | Aggregate report, (microform) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Indiana State Library. In addition, during discussions with examiners, some expressed concern that it is difficult to determine when they have conducted enough testing to satisfy the risk-scoping requirements for small and non-HMDA reporting banks. OCC Bulletin 2017-31 announced that the OCC and other federal regulators are publishing guidance to banks about new Federal Financial Institutions Examination Council (FFIEC) examination procedures for home mortgage loan data that will be reported under the Home Mortgage Disclosure Act (HMDA) rule effective January 1, 2018. It includes a summary of responsibilities and requirements, directions for assembling the necessary tools, and instructions for reporting HMDA data. Applicant Information . For a financial institution to submit its file, it must be in pipe delimited format. publication, "A Guide to HMDA Reporting: Getting it Right!" and on the FFIEC website. In 1989, Congress expanded HMDA data to include information about denied home loan Certain smaller-volume financial institutions are not required to report all of these data, pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). There you'll find a variety of helpful resources, including a home mortgage reporting requirements guide. Quarterly HMDA data submissions are separated into three quarters. The data and reports can be used along with the Census demographic information for data analysis purposes. For more information on the format and how to submit the file, review the . Beginning January 1, 2020, the 2015 HMDA Final Rule requires quarterly reporting for financial institutions that reported a combined total of at least 60,000 applications and covered loans, excluding purchased covered loans, for the preceding calendar year. The correct answer is b. HMDA also required financial institutions to report certain applicant and borrower demographic data, such as ethnicity, race, gender, and . For example, if the current CRA examination date is January 10, 1997, and the bank's September 30, 1996, Call Report (the most recent Call Report available at the time of the examination) show total assets of $300,000,000, then you should select "100,000 - 1,000,000" as the asset range (because $300,000,000 in thousands is $300,000). Several agencies are involved with the Home Mortgage Disclosure Act (HMDA) reporting. This bulletin rescinds OCC Bulletin 2020-6, "Home Mortgage Disclosure Act: FFIEC's Revised 'A Guide to HMDA Reporting: Getting It Right!'" Note for Community Banks The 2021 guide applies to community banks 2 that are subject to HMDA data collection and reporting requirements. application (and thus it may or may not have HMDA reporting responsibilities). Initially, HMDA required reporting of the geographic location of originated and purchased home loans. Geocoding refers to the Metropolitan Statistical Area/Metropolitan Division (MSA/MD), State, County, Census Tract combination (address information) that must be provided . For more information on the format and how to submit the file, review the . 1 Reportable HMDA Data: A Regulatory and ReportingOverview Reference Chart for HMDA Data Collected in 2021. a. The 2021 edition reflects updates to incorporate content from . For A complete list of HMDA data points and the associated data fields is found in the FFIEC's Filing Instructions Guide for HMDA Data Collected in 2020. Lenders must also report information regarding the pricing of the loan and whether the loan is subject to the Home Ownership and Equity Protection Act, 15 U.S.C. Information regarding the HMDA Final Rule. requirements for reporting and . records into its holdings since the early 1970s. The data covers 12.9 million home loan applications, of which 10.3 million were closed-end and 2.3 million were open-end; the nature of another 378,000 applications was unclear. The Guide is a valuable resource for assisting all institutions in their HMDA reporting. Highlights. The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 6,762 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). banks with low loan volumes or for banks that are not required to report HMDA data. The 2021 guide applies to community banks 2 that are subject to HMDA data collection and reporting requirements. A complete list of HMDA data points and the associated data fields is found in Appendix A of the FFIEC's Filing Instructions Guide for HMDA Data Collected in 2019. Section 161 (National banks). Certain smaller-volume financial institutions are not required to report all of these data, pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). ICBA members indicated that new HMDA data collection requirements often result in excessive costs, onerous time investment, and confusion on how to correctly input data.
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