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HMDA Red Flag?

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  • April 11, 2011 at 9:13 pm EDT #2319
    Ryan31
    Member

    If the bank re-files its HMDA LAR or its CRA data to create errors does this create a red flag with regulators?

    April 12, 2011 at 12:24 pm EDT #2665
    jholzknecht
    Keymaster

    Yes, re-filing does create a red flag; but you are generally better off finding and fixing your own problems than to have the regulators find your problems and order you to fix them. Finding your own problems proves your audit program works.

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