Every quarter, CrossCheck addresses scenarios that arise as Home Mortgage Disclosure Act (HMDA) reporters collect and review data and prepare their LAR for submission. In this issue, we explore the following topics:
- Rate Spread Tolerance: Accuracy is required; consistency in rounding and truncation is key
- HOEPA Status Reporting: Guidance for institutions that don’t make high-cost mortgages
- Updating HMDA Data: Adjusting data after a corrected Closing Disclosure
- Manufactured Home Communities: Reporting Total Units available for occupancy
- Guarantor Information: Only applicants/co-borrowers are included in HMDA; guarantor income or demographics do not need to be reported
HMDA Resources
- Submit your HMDA question
- Subscribe to our publications
- Explore CrossCheck’s HMDA compliance services
HMDA Hub is a quarterly Q&A series that addresses scenarios that arise as lenders collect, review, and prepare their LAR for submission.
