
HMDA Edits FFIEC Ffiec Form
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People also ask
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What is the HMDA reporting threshold for 2024?
For data collection in 2024, the asset-size exemption threshold is $56 million. Banks, savings associations, and credit unions with assets at or below $56 million as of December 31, 2023, are exempt from collecting data for 2024.
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How often must LAR reports be submitted?
For each calendar year, a financial institution must submit to its supervisory agency its HMDA-LAR, accompanied by a Transmittal Sheet.
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What is a modified HMDA LAR?
Modified LAR is the public-facing set of the Loan Application Register (LAR) data in which 27 fields have been redacted for privacy reasons. In addition, 6 fields have been modified for privacy.
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What are the HMDA recordkeeping requirements?
Beginning on January 1, 2022, a financial institution originating 200 or more open-end lines of credit must collect, record, and report HMDA data for open-end lines of credit.
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What is the loan volume threshold for HMDA reporting?
As a follow-up to the Court's decision, the CFPB issued a statement on December 6, 2022, indicating that the Court's decision means that the threshold for reporting closed-end mortgage loan data pursuant to HMDA is now 25 loans in each of the two preceding calendar years, which was the threshold established by the ...
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What is the threshold for HMDA resubmission?
Current NCUA error thresholds requiring resubmission are a 10-percent file error rate and a 5-percent data field error rate.
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Does HMDA fall under fair lending?
Common filters include Total Units, Open-End Line of Credit, Occupancy Type, Construction Method (e.g., site-built or manufactured home), and Reverse Mortgage. Putting the pieces together. HMDA Data are one of the foundations of our fair lending work.
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What is the HMDA threshold for 2024?
For data collection in 2024, the asset-size exemption threshold is $56 million. Banks, savings associations, and credit unions with assets at or below $56 million as of December 31, 2023, are exempt from collecting data for 2024.
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