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

Application Channel and New HMDA Data

There are two questions for this data point that must be reported as part of the new HMDA data. First, you must report whether the applicant submitted the application directly to your financial institution. For HMDA purposes, an application is treated as being submitted directly to your financial Read More

Reporting of the Introductory Rate Period New HMDA Regulation

Under the new HMDA regulation, an institution must now report the introductory interest rate period. If there is one involved in the transaction, you must report the number of months from the day the loan closed until the first day that the interest rate may change. If the introductory interest Read More