How are the HMDA annual reporting provisions being adjusted?

Compliance > Regulation C - HMDA > 2018 Provisions
Q:  How are the HMDA annual reporting provisions being adjusted?
 
 
A:  Effective January 1, 2018, for changes requiring electronic submission of 2017 HMDA data in 2018 –
 
The 2015 HMDA Rule retains the requirement that a financial institution submit its HMDA data to its appropriate Federal agency by March 1 following the calendar year for which it collected the data, but requires electronic submission of the data.
 
The Bureau is developing a new web-based tool for electronically submitting HMDA data. Financial institutions are required to submit data electronically using the new web-based tool beginning in 2018 for data collected in 2017.  For more information on the new submission tool, see http://www.consumerfinance.gov/hmda/.
 
Appendix A to Part 1003, which includes instructions for completing and submitting the HMDA loan/application register (LAR), is amended effective January 1, 2018, to include new transition requirements for data collected in 2017 and reported in 2018. In particular, amended appendix A requires that a financial institution electronically submit its HMDA data. Procedures for electronic submission of 2017 HMDA data will be available at http://www.consumerfinance.gov/hmda/.
 
 
ADDITIONAL INFORMATION:
This information was obtained from the CFPB’s Home Mortgage disclosure (Regulation C) Small Entity Compliance Guide.  https://s3.amazonaws.com/files.consumerfinance.gov/f/documents/201512_cfpb_hmda_small-entity-compliance-guide.pdf
 

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