The 2023 HMDA reporting season is well under way. It’s a great time to tackle the issues you addressed for your most recent filing, and get your HMDA team to understand the exact details needed to produce the cleanest possible LAR. ADI is here for you with the April 2023 edition of HMDA Huddle. In this issue, we provide tips for reporting the right Loan Purpose; collecting and reporting Demographic Information; Property Value considerations, and changes to the thresholds for reporting data about closed-end mortgage loans.
Click through to check out this quarter’s HMDA Huddle – Q&As for Tackling the Intricacies of HMDA.
ADI assists a wide variety of lender clients with HMDA LAR audits and quality control throughout the year, including preparing for standard submissions and resubmissions. Below, we present questions that highlight nuances and misinterpretations of the HMDA guidance, and our answers to those questions. Please check back for future installments or subscribe to ADI Insights to automatically receive updates each quarter.
