RegAlert

Debt-to-Income Ratio New HMDA Reporting Requirement

Another addition to what must be collected as part of your HMDA data in 2018 is the borrower’s debt-to-income ratio. This must be reported if the DTI ratio was relied upon when the financial institution made their credit decision. This does not mean that in order for this data point to be Read More

Discount Points, Lender Credits, and Interest Rate New HMDA Regs

For the new HMDA regulation, a financial institution will now have to report more information in regards to the terms of the loan. This includes such information as the total discount points, lender credits and the interest rate. The total discount points that are paid to the creditor to reduce the Read More

Origination Charges Just One New HMDA Reporting Requirement.

The new HMDA regulation that will take effect in 2018 will require a financial institution to report a myriad of new information. One of these new data points is the total origination charges that are considered borrower paid either at or before closing. This information can be found on page 2 of Read More

Mortgage Loan Originator NMLS Identifier

Starting in 2018, an institution will report the NMLS ID for the mortgage loan originator.  This is a unique number that is assigned to a loan originator through the National Mortgage Licensing System & Registry. The loan officer does not necessarily have to have one in order to provide loan Read More