FFIEC Releases 2020 Edition of A Guide to HMDA Reporting: Getting It Right

The 2020 edition of the Guide to HMDA Reporting: Getting it Right! is now available.  The 2020 edition is effective January 1, 2020, for HMDA submissions due March 1, 2021. The guide, released by the FFIEC, provides a summary of certain key requirements to assist institutions in meeting their HMDA reporting obligations.

The 2020 edition of the guide incorporates updates to Regulation C, the regulation implementing HMDA, that are generally effective on January 1, 2020, such as the extension of temporary institutional and transactional coverage thresholds for open-end lines of credit, incorporation of the 2018 interpretive and procedural rule, and further clarification of the partial exemption added by the Economic Growth, Regulatory Relief, and Consumer Protection Act, largely focused on mergers and acquisitions.  In general, the guide summarizes: (i) the institutions and transactions covered by Regulation C; (ii) information that covered institutions are required to collect, record, and report; and (iii) requirements for reporting and disclosing data.  The guide also continues to include a number of useful appendices related to HMDA obligations.  Additional HMDA resources for entities required to make HMDA filings, including a recent Filing Instructions Guide (FIG), can be found here.

For additional information regarding the updates noted above, see WBK’s article describing the recent final HMDA rule, which also links to other related updates and information.