Exam council issues updated HMDA reporting guide, reflecting Reg C amendments from 2020

Reporting home mortgage-related data collected this year and to be reported in the next is outlined in an updated guide released Tuesday by the umbrella group for federal financial institution regulators.

According to the Federal Financial Institutions Examination Council (FFIEC), its 2021 edition of A Guide to HMDA Reporting: Getting It Right! Is aimed at helping financial institutions better understand Home Mortgage Disclosure Act (HMDA) data collection and reporting requirements.

In a financial institution letter (FIL-21-2021) sent to all of its insured institutions, the Federal Deposit Insurance Corp. (FDIC) said the guide summarizes key provisions of HMDA and its implementing regulation, Regulation C. The 2021 edition of the guide, the FDIC said, reflects amendments to Regulation C made by a final rule that the Consumer Financial Protection Bureau (CFPB) published on May 12, 2020.

As of July 1, 2020, the FDIC reminded, the coverage threshold for reporting data on closed-end mortgage loans increased from at least 25 to at least 100 closed-end mortgage loans in each of the two preceding calendar years.

FDIC FIL-21-2021: Home Mortgage Disclosure Act (HMDA): FFIEC Issues 2021 Version of A Guide to HMDA Reporting: Getting It Right!