Bureau reminds HMDA reports on 2020 data collected are due March 1

The federal consumer financial protection agency on Tuesday reminded that mortgage lenders are due to file their mortgage loan/application registers (LARs) with federal regulators by March 1.

The registers, containing Home Mortgage Disclosure Act (HMDA, Regulation C) data collected in 2020, will only be considered to be filed timely if they are received on or before March 1, the Consumer Financial Protection Bureau (CFPB) said in an email notification. The HMDA platform for filing the data is accessible at https://ffiec.cfpb.gov/filing; users will receive a confirmation email upon submission of their HMDA data, it said.

The bureau also noted:

  • The Beta Testing Platform, found at https://ffiec.beta.cfpb.gov/filing/, will remain available on an ongoing basis for filers wishing to test their submissions. (This is for testing only; the bureau said no data entered on the Beta Testing Platform will be considered a HMDA submission for compliance with HMDA data reporting requirements.)
  • All user accounts created during the 2020 beta testing period and during the filing period for data collected in 2019 will be maintained for the 2020 filing period, and users can log in to the 2020 HMDA Platform using their existing credentials. Feedback and questions about this platform can be directed by email to HMDAHelp@cfpb.gov.

The bureau added that only insured depository institutions and insured credit unions are eligible for partial exemptions from Regulation C’s data collection, recording, and reporting requirements. Other financial institutions subject to Reg C must collect, record, and report all HMDA data enumerated in the reg, the agency said.