Credit Score Information New 2018 HMDA Requirement

The 2018 HMDA regulation will require an institution to report an applicant’s credit score information. While this is a new data point, it is relatively straight-forward. An institution must report both the credit score and the name and version of the scoring model that was used when making the Read More

All HMDA Reporters Will Have To Report Reasons for Denial

While this is a familiar data point for OCC regulated banks – now all HMDA reporters will have to report the reason for denial. For current reporters, it has been slightly modified by the 2018 HMDA regulation. If the HMDA reportable loan was denied, an institution must report the principal Read More

Lien Status Reporting Still Required Under New HMDA Regulation

Under the HMDA regulation that will take effect in 2018, an institution is still required to report the lien status. This data point must be reported for loans that were originated, purchased loans, and those that did not result in origination. This includes preapprovals, denials and withdrawals. Read More

HOEPA Status Will Not Change Under New HMDA 2018 Changes

Under the new HMDA regulation that will take effect in 2018, the HOEPA status is one of the data points that will not change. As it was under the old HMDA rule, an institution must report whether or not the loan is considered to be a high-cost mortgage under Regulation Z.  Section 1026.32 (a) Read More