Reverse Mortgage, Open-End Line of Credit, or Business or Commercial Purpose

There are certain transaction indicators that will have to be reported as part of your HMDA data now that it is 2018. The new HMDA regulation added three new data points that will provide more information as to the terms of the loan application. These are if the application is for a reverse Read More

Automated Underwriting System (AUS) Requirements

Now that it is 2018, financial institutions will have to report the name of the Automated Underwriting System (AUS) and the results that were generated as part of their HMDA data. This data point allows a financial institution to not only use the already well established AUSs, but to also report if Read More

HMDA 2018 Requires Reporting Of Total Dwelling Units

When reporting your HMDA data in 2018, you will now have to report the total number of individual dwelling units for the property that is securing the loan.  This data point will always be answered with a number as this is one of the few data points where “not applicable” cannot be reported. Read More

Manufactured Home Secured Property Type & Manufactured Home Land Property Interest

Beginning in 2018, a financial institution will report manufactured home information as part of their HMDA data. Specifically, the secured property type and the land property interest information should be reported in regards to the manufactured home that is securing the loan. For the secured Read More