In this edition, we address the following key HMDA compliance and reporting topics:
- Income and DTI reporting for W-2 and asset-based income
- Applications with outstanding closing conditions
- Borrower-stated income that was not used in underwriting
- Handling unresponsive preapproval requests
- Determining NMSLR ID when using a third-party broker
It’s time to start preparing your annual HMDA submission. CrossCheck partners with lenders to make the process seamless, offering systemic and manual file reviews, ongoing monitoring, fair lending disparity analysis, and tailored training. Contact our team for more information.
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Are you grappling with a HMDA compliance issue? We invite you to send your question to our team of HMDA compliance consultants for future editions.
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