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On Yesterday’s Webinar by Jack regarding the New HMDA Rules, there was mention of a new resource that everyone was waiting on that would help with the implementation (Not the CFPB’s FIG). Does anyone know of this resource. I thought the final rule was issued and are aware that there is currently no Getting It Right . Can someone shed some light. Or provide me with that final guidance or resource name?
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Jack was likely referring to the HMDA Platform, a web-based data submission and edit-check system, which is expected to streamline the HMDA submission process and reduce burden on HMDA filers.
Here are a couple of links that give information on the HMDA Platform:
https://www.consumerfinance.gov/data-research/hmda/des-update-2017
https://www.consumerfinance.gov/data-research/hmda/tech-previewThe CFPB has not indicated when the Platform will be released.
Also, here is an article we posted in January on the LAR Formatting Tool:
https://mycomplianceresource.com/another-piece-of-the-hmda-puzzle-released/. It is intended to assist small volume financial institutions to create an electronic file that can be submitted to the HMDA Platform.We have an webinar on April 10, HMDA Implementing the New Rules Part 2 – Completing the Revised LAR, that you might want to check out. Information is available here: https://mycomplianceresource.com/event-registration/?ee=107.
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