To gauge institutions that are financial compliance with HMDA needs, OCC assessment staff will concentrate on identified key data fields during transaction assessment pursuant to HMDA for information gathered on or after January 1, 2018. Examination staff will concentrate on the 37 areas given below for banking institutions which are at the mercy of collecting, recording, and information that is reporting all HMDA information areas. evaluating for banking institutions that qualify for a partial exemption from HMDA information collection, recording, and reporting requirements will concentrate on 21 key areas, since set forth below, and validate that the lender satisfies the criteria for the exemption that is partial. In some circumstances, but, and in keeping with the FFIEC instructions, examination 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 banking 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 institution to improve particular mistakes, without needing resubmission associated with information.
