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WBK Industry News - Federal Regulatory Developments

FFIEC Releases Tips on Submitting 2015 HMDA Data

On February 10, 2016, the Federal Financial Institutions Examination Council (FFIEC) released a newsletter entitled “CRA/HMDA Tips to a Successful Processing Season.”  The newsletter provides information on new developments and guidance on how to successfully submit HMDA data for the calendar year 2015.  To assist lending institutions reporting HMDA data, the publication includes information on reporting with the Correct Respondent ID (RID) and Agency Code Numbers on the Transmittal Sheet (TS) and encourages institutions to use the FFIEC HMDA Data Entry Software to submit HMDA data.  The newsletter also provides tips to properly set up a mailbox to ensure timely receipt of the HMDA Edit Report and how to successfully complete the Edit Report.  According to the FFIEC, institutions may receive notification of the release of disclosure reports via e-mail by subscribing to an FFIEC HMDA mailing list.

The newsletter is available at: https://www.ffiec.gov/hmda/pdf/CRA-HMDA%20Tips%20to%20a%20Successful%20CY2015%20Submission.pdf.