It’s been a challenging year for HMDA reporters. Complex new rules were effective January 1, 2018, followed by the CFPB’s procedural rule issued August 31, 2018. The new rule allows partial exemptions of selected HMDA data fields for small volume institutions. It is critical to understand the rules and be prepared to file an accurate submission of 2018 activity by the March 1, 2019, deadline.
This is Part 1 of a two-part series. Part 1 will focus on correctly identifying reportable loans, steps for data integrity, and tips for understanding the Filing Instructions Guide (FIG). Join us to learn more about data fields, data scrubbing, common mistakes, and reporting accuracy.
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