Welcome to ADI's first issue of our quarterly HMDA Q&A series, HMDA Huddle. With another HMDA filing deadline behind us, lenders who successfully submitted their 2021 LAR can breathe a sigh of relief, and ADI is already looking ahead to 2022 reporting. ADI assists a wide variety of lender clients with HMDA LAR audit and [...]
The Consumer Financial Protection Bureau (CFPB) issued a release on March 16, 2022, announcing modifications to its supervisory operations that expand its monitoring of discriminatory lending and servicing practices. The CFPB stated that it “will scrutinize discriminatory conduct that violates the federal prohibition against unfair practices” at banks and non-bank companies across the U.S. The [...]
Guidance on the Home Mortgage Disclosure Act (HMDA) provides instructions for how lenders should report each Loan Application Register (LAR) field. For most fields, the instruction is specific and leaves no room for differing interpretation or options for lenders to choose when reporting their LAR. For a handful of LAR fields, however, there is some [...]
