It’s that time of year when HMDA LARs are being scrubbed, double-checked and submitted to regulators. Once you submit the data the agencies begin their quality checks, which often result in Macro and Micro Quality Edits that need your attention. Below are agency-provided answers to some of the most common questions about macro quality edits, reasons for providing detailed explana¬tions on the Macro Quality Edit Report, and examples of acceptable macro edit responses. What is […]
Month: January 2013
2013 HMDA THRESHOLD
On December 28th the Consumer Financial Protection Bureau (CFPB) issued a final rule adjusting the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The revised asset-size exemption for banks, savings associations, and credit unions has increased to $42 million. As a result, institutions with assets of $42 million or less as of December 31, 2012, are exempt from collecting HMDA data in […]