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both depository financial institutions and nondepository financial institutions, as those terms are separately defined in Regulation C. 12 CFR 1003.2(g). An institution uses these two definitions, which are outlined below, as coverage tests to determine whether it is a financial institution that is required to comply with Regulation C.
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The expanded HMDA reporting requirements necessitate new process implementations and rigorous, ongoing testing. But the new rule isn’t all bad news: With a solid implementation plan, an institutions can do more than achieve effective compliance.
Jun 13, 2024 · The Guide provides helpful background information and an easy-to-use summary of certain key requirements, including those relating to institutional coverage, transactional coverage, and data collection, reporting, and disclosure requirements.
Foreword A Guide to HMDA Reporting: Getting It Right! will assist you in complying with the Home Mortgage Disclosure Act and Regulation C. It was written to address the needs of management and of the individuals who prepare the HMDA report. The Guide was developed by the member agencies of the Federal Financial Institutions Examination
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Jan 1, 2024 · The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting it Right!” (2024 guide).
May 14, 2024 · The Guide is a valuable resource for assisting all institutions in their HMDA reporting. It includes a summary of responsibilities and requirements, directions for assembling the necessary tools, and instructions for reporting HMDA data.
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Sep 27, 2023 · Financial institutions like banks, savings associations, mortgage lending institutions, and credit unions must report under HMDA. Any institution with loan origination of 200 or more open-end lines of credit must gather, record, and submit their reports to HMDA.
