The Office of the Comptroller of the Currency (OCC) on Friday released a bulletin (No. 2018-6) on this year’s update of “A Guide to HMDA Reporting: Getting It Right!” by the Federal Financial Institutions Examination Council (FFIEC). The update conforms the guide with 2017 revisions to Regulation C, Home Mortgage Disclosure Act (HMDA), which is published by the Consumer Financial Protection Bureau (CFPB).
This new bulletin directs examiners to use the revised guide in conjunction with OCC Bulletin 2017-41, “Home Mortgage Disclosure Act: Interagency Key Fields,” and OCC Bulletin 2017-31, “Home Mortgage Disclosure Act: Updated FFIEC Examiner Transaction Testing Guidelines,” when validating the accuracy of data collected in 2018 and reported in 2019 for all applicable OCC-supervised institutions. “Additional examination procedures are not being published at this time,” it states.
The FDIC points banks to the revised HMDA guide via Financial Institutions Letter (FIL) 10-2018, issued Monday.