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- To conduct HMDA transaction testing, examiners select a random sample of entries from the financial institution’s HMDA Loan Application Register (LAR) (Total Sample) and ask the financial institution to provide the loan or application files (loan files) that correspond to the HMDA LAR sample entries.
www.federalreserve.gov/supervisionreg/caletters/CA 17-2 Attachment HMDA Resubmission Guidelines Final 08-10-17.pdf
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Testing Procedures . 1) To conduct HMDA transaction testing, examiners select a random sample of entries from the financial institution’s HMDA Loan Application Register (LAR) (Total Sample) and ask the financial institution to provide the loan or application files (loan files) that correspond to the HMDA LAR sample entries. The size of the Total
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- FFIEC HMDA Examiner Transaction Testing Guidelines1
- Testing Procedures
- Tolerances
- Ethnicity Or Race Data Errors
- Prospective Changes
- HMDA Transaction Testing Sample Sizes and Thresholds
- Examples
The Federal Financial Institutions Examination Council (FFIEC) members (Agencies) promote compliance with federal consumer protection laws and regulations through supervisory and outreach programs.2 Among these laws and regulations are the Home Mortgage Disclosure Act (HMDA), 12 U.S.C. 2801 et seq., implemented by Regulation C, 12 C.F.R. Part 1003....
To conduct HMDA transaction testing, examiners select a random sample of entries from the financial institution’s HMDA Loan Application Register (LAR) (Total Sample) and ask the financial instituti...If a financial institution’s HMDA data are collected through multiple data collection and reporting systems, examiners may test a single sample from the financial institution’s entire HMDA LAR, tes...Once examiners receive the loan files from the financial institution, they should verify the accuracy of the data in the entries in the HMDA LAR sample(s) against the corresponding loan files. Exam...All data fields within the sample may be reviewed, or the supervisory agency may prioritize designated fields for review.For the sole purpose of determining whether the number of errors equals or exceeds the Initial Sample Threshold in Column C or the Resubmission Threshold in Column D of the HMDA Table, examiners sh...
For purposes of these guidelines, the term “data field” generally refers to individual HMDA Filing Instructions Guide (FIG) fields, each identified by a distinct Data Field Number and Data Field Na...
Examiners may direct the financial institution to make any appropriate changes in its policies, procedures, audit processes, or other aspects of its compliance management system needed to prevent t...
* marks below: for institutions with fewer than 30 LAR lines, the full sample size is the institution’s total number of LAR lines. The Resubmission Threshold number remains at 3. Accordingly, the Resubmission Threshold percentage will be higher for institutions with fewer than 30 LAR lines.
Financial Institution A’s HMDA LAR contains 35 entries. Examiners select a Total Sample of 30 loans as shown in Column A of the HMDA Table.Financial Institution B’s HMDA LAR contains 125 entries. Examiners select a Total Sample of 47 loans as shown in Column A of the HMDA Table.Financial Institution C’s HMDA LAR contains 500,000 entries. Examiners select a Total Sample of 159 loans as shown in Column A of the HMDA Table.Financial Institution D’s HMDA LAR contains 1,000 entries. Examiners select a Total Sample of 79 loans as shown in Column A of the HMDA Table.Oct 17, 2008 · To conduct HMDA transaction testing, examiners select a random sample of entries from the financial institution’s HMDA Loan Application Register (LAR) (Total Sample) and ask the financial institution to provide the loan or application files (loan files) that correspond to the HMDA LAR sample entries.
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Transaction testing should be performed to identify potential weaknesses in HMDA related procedures and errors in the HMDA data. The scope and type of transaction testing should be based on loan volumes, and
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Mar 3, 2021 · Transaction Testing. To conduct HMDA transaction testing, examiners select a random sample of entries from the credit union’s HMDA LAR (Total Sample) and ask the credit union to provide the loan or application files (loan files) that correspond to the HMDA LAR sample entries.
Oct 9, 2013 · These guidelines describe transaction testing that the Consumer Financial Protection Bureau (CFPB) will conduct to verify the accuracy of institution-reported Home Mortgage Disclosure Act (HMDA) data during HMDA reviews.
Aug 23, 2017 · The HMDA Examiner Transaction Testing Guidelines (Guidelines) describe FFIEC procedures for sampling and validating HMDA data. The Guidelines should assist financial institutions seeking to better understand the approach the FDIC will use to assess HMDA data as part of the examination process.
