CFPB HMDA FAQ ULI 1 - How does a financial institution calculate the check digit for the purposes of creating the universal loan identifier (ULI)?

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Q:   How does a financial institution calculate the check digit for the purposes of creating the universal loan identifier (ULI)?
 
A:  Appendix C to Regulation C, 12 CFR part 1003 describes how to generate a check digit and validate a ULI. The procedures require a two-character check digit used to validate the ULI, which is calculated using certain standards established by the International Organization for Standardization (www.iso.org).
 
The Bureau created a check digit tool that can be used to generate a check digit. The check digit tool can be found at http://www.consumerfinance.gov/hmda/for-filers.
 
For general information on the ULI, see section 5.2 of the HMDA Small Entity Compliance Guide, and Regulation C, 12 CFR § 1003.4(a)(1)(i).
 
 
This Q&A was based on information contained in the Consumer Financial Protection Bureau’s HMDA FAQs document, version 4, dated July 28, 2020, which is updated from time to time.  This HMDA-related issuance may be found here:  https://files.consumerfinance.gov/f/documents/cfpb_HMDA_frequently-asked-questions.pdf
 

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