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To guage institutions that are financial compliance with HMDA needs, OCC assessment staff will concentrate on identified key data fields during transaction screening pursuant to HMDA for information gathered on or after January 1, 2018. Examination staff will concentrate on the 37 areas the following for banking institutions which can be susceptible to collecting, recording, and information that is reporting all HMDA information areas. Testing for banks that qualify for the partial exemption from HMDA information collection, recording, and reporting requirements will give attention to 21 key industries, since set forth below, and validate that the financial institution fulfills the criteria for the partial exemption. In some circumstances, nevertheless, and in keeping with the FFIEC tips, assessment staff might figure out it is appropriate to examine extra HMDA information areas.

Proper reporting of HMDA information is essential in evaluating the precision associated with HMDA data that finance institutions record and report. Where mistakes that exceed founded thresholds 10 are identified in a organization’s HMDA information, the OCC supervisory workplace has discernment in needing the organization to fix certain mistakes, without needing resubmission for the information. The office that is supervisory need resubmission of HMDA information once the inaccurate information are indicative of systemic interior control weaknesses that call into concern the integrity regarding the organization’s whole HMDA data report.

The next table lists the main element information industries that examiners will used to validate the precision of this HMDA Loan/Application enroll (LAR) for banks which can be complete HMDA reporters and individually for banking institutions that qualify for the partial exemption.

Compliance Statement

As established in December 2017 for an interagency foundation, the OCC will not plan to need information resubmission for HMDA data gathered in 2018 and reported in 2019, unless information mistakes are product. Also, the OCC will not want to evaluate charges with regards to mistakes in information gathered in 2018 and reported in 2019. Collection and distribution for the 2018 HMDA information will give you banking institutions with a chance to identify any gaps within their utilization of the amended Regulation C while making improvements inside their HMDA conformity administration systems money for hard times. Any exams of 2018 HMDA information would be diagnostic, to greatly help banks determine conformity weaknesses, in addition to OCC will credit good-faith conformity efforts.

More Info

Please contact Vonda J. Eanes, Director for CRA and Fair Lending Policy, Compliance danger Policy Division at (202) 649-5470.

Grovetta N. Gardineer Senior Deputy Comptroller for Bank Supervision Policy

6 you start with information gathered on or after January 1, 2018, finance institutions at the mercy of the HMDA will gather and report information on covered loans specified in 12 CFR 1003.4(a)(1)-(38) on that loan application register containing 110 information areas, as specified within the FFIEC Filing guidelines Guide (FIG). Make reference to FFIEC Resources for HMDA Filers for more information.

7 The FFIEC members would be the FRB, FDIC, the OCC, the CFPB, the nationwide Credit Union management, as well as the State Liaison Committee. The FFIEC users promote conformity with federal customer security regulations through supervisory and outreach programs. The HMDA is among these legal guidelines.

8 OCC-regulated banking institutions and their subsidiaries have to report cause of denial from the HMDA Loan/Application enter (LAR) irrespective of partial exemption status. Relate to 12 CFR 27 (nationwide banking institutions) and 12 CFR 128.6 (federal discount associations).

9 83 Fed. Reg. 45325.

10 the data supplied in this bulletin supplements guidance released on August 25, 2017, through OCC Bulletin 2017-31, “FFIEC HMDA Examiner Transaction Testing instructions,” which indicates examiners should direct a bank to fix any information industry with its full HMDA LAR for any industry in which the mistake price exceeds the stated resubmission limit. The financial institution can also be needed in such instances to resubmit its HMDA LAR aided by the corrected information field(s). OCC examiners will check with their office that is supervisory and as relevant, OCC’s Compliance Supervision Management Division to ascertain whether resubmission is needed centered on particular facts and circumstances.