REVISED HMDA EXAMINATION PROCEDURES

On December 17, 2021, the Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2021-63, which contains interagency Home Mortgage Disclosure Act, (HMDA) examination procedures.

The revised procedures address changes to:

  • The effective dates for banks that meet or exceed either the closed-end mortgage loans or the open-end lines of credit loan-volume threshold in each of the two preceding calendar years:
    • Effective July 1, 2020, a bank, savings association, or credit union that originated at least 100 closed-end mortgage loans in each of the two preceding calendar years, or originated at least 500 open-end lines of credit in each of the two preceding calendar years meets or exceeds the loan-volume threshold.
    • Effective January 1, 2022, when the temporary threshold of 500 open-end lines of credit expires, a bank, savings association, or credit union that originated at least 100 closed-end mortgage loans in each of the two preceding calendar years, or originated at least 200 open-end lines of credit in each of the two preceding calendar years meets or exceeds the loan-volume threshold.
  • A partial exemption to apply to an application or covered loan (including a purchased covered loan). An eligible bank must meet the applicable loan-volume threshold:
    • A partial exemption applies to an eligible bank’s applications for, originations of, and purchases of closed-end mortgage loans if the bank originated fewer than 500 closed-end mortgage loans in each of the two preceding calendar years. When a bank determines whether it meets the loan-volume thresholds for a partial exemption, the bank does not count transactions excluded by 12 CFR 1003.3(c)(1) through (10) and (13).
    • A partial exemption applies to an eligible bank’s applications for, originations of, and purchases of open-end lines of credit if the bank originated fewer than 500 open-end lines of credit in each of the two preceding calendar years.