The New HMDA Rule: Implementation Challengesttsmedia.ttstrain.com/HMDAHOCR032216.pdfNew HMDA Final Rule Carl Pry March 22, 2016 4 of 33 Covered Institutions Different criteria for

A TTS Production

The New HMDA Rule:

Implementation Challenges

Carl Pry

March 22, 2016

New HMDA Final Rule

Carl Pry

March 22, 2016

1 of 33

New HMDA Final Rule

CFPB released new final rule amending HMDA on October 15, 2015

CFPB Press Release 10/15/15: http://www.consumerfinance.gov/newsroom/cfpb-finalizes-rule-

to-improve-information-about-access-to-credit-in-the-mortgage-market/

Federal Register 10/28/15: http://www.gpo.gov/fdsys/pkg/FR-2015-10-28/pdf/2015-26607.pdf

CFPB HMDA implementation website: http://www.consumerfinance.gov/regulatory-

implementation/hmda/

CFPB Small Entity Compliance Guide:

http://files.consumerfinance.gov/f/201512_cfpb_hmda_small-entity-compliance-guide.pdf

Affects 4 areas:

Types of institutions required to collect and report

Types of transactions and applications subject to collection and reporting requirements

Data that must be collected and reported

Method and frequency of reporting data and making data available to the public

http://www.consumerfinance.gov/newsroom/cfpb-finalizes-rule-to-improve-information-about-access-to-credit-in-the-mortgage-market/




























http://www.gpo.gov/fdsys/pkg/FR-2015-10-28/pdf/2015-26607.pdf










http://www.consumerfinance.gov/regulatory-implementation/hmda/












New HMDA Final Rule

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March 22, 2016

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4 Effective Dates

January 1, 2017 – coverage test changes

In addition to existing coverage tests, institutions that originated fewer than 25 home

purchase loans (including refis of home purchase loans) during each of the last 2

calendar years will now be exempt as of January 1, 2017

• For example, a bank that originated fewer than 25 home purchase loans in either 2015 or

2016 will be exempt from collection and reporting requirements in 2017

January 1, 2018 – most of the changes become effective

Uniform volume coverage criteria for all institutions

New coverage criteria for all consumer loans and lines of credit secured by a

dwelling

New data collection requirements begin

• If application is taken in 2017 but final action taken in 2018, new rule applies

• See special transition rule for ethnicity, race, and sex

New electronic data submission requirements

New HMDA Final Rule

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March 22, 2016

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4 Effective Dates

January 1, 2019 – additional electronic data submission and public disclosure

rules

First data collected under the new collection requirements by March 1, 2019

Appendix A will be deleted in its entirety, and replaced by forthcoming Data

Specifications

January 1, 2020 – quarterly reporting begins for large-volume lenders

Lenders reporting a combined 60,000 or more applications and loans in the preceding

calendar year

• Purchased loans are excluded from counting to 60,000 here

First data under the new reporting schedule (for the first quarter of 2020) must be

submitted by May 30, 2020

• Within 60 days of the end of each calendar quarter

• Fourth quarter data is included in regular annual submission

New HMDA Final Rule

Carl Pry

March 22, 2016

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Covered Institutions

Different criteria for depository and non-depository institutions

But loan-volume threshold is the same for both – 25 covered closed-end mortgage loans

or 100 covered lines of credit in each of the past 2 calendar years

• For depositories, 100 covered LOCs kicks in January 1, 2018

For depository institutions, new rule adds volume threshold to existing criteria

Asset size coverage test (currently $44 million)

Insured or regulated by federal government

On preceding Dec. 31, had home office or branch in an MSA

In preceding calendar year, originated at least 1 home purchase loan or refi of a home

purchase loan secured by a first lien on a 1- to 4-family dwelling

CFPB estimates about 1,400 depositories will no longer have to report

New HMDA Final Rule

Carl Pry

March 22, 2016

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Covered Institutions

Different criteria for depository and non-depository institutions

But loan-volume threshold is the same for both – 25 covered closed-end mortgage

loans or 100 covered lines of credit in each of the past 2 calendar years

• If 1 of these two criteria is satisfied but does not the other, institution need only collect and

report data for the type of transactions that qualified the institution for coverage

For non-depository institutions, new rule adds volume threshold and removes

existing coverage test (begins January 1, 2018)

Eliminates origination volume criteria (10% of total volume or $25 million) and $10

million in assets or 100 home purchase loan originations

Still must have an office or branch in an MSA

Will result in many more non-depositories reporting HMDA (CFPB estimates about

450)

New HMDA Final Rule

Carl Pry

March 22, 2016

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Reporting of “Applications”

CFPB did not align application definition with Reg. Z

Since the definition serves different purposes

What exactly is an “application”? The definition parallels Reg. B

• An “oral or written request for a covered loan that is made in accordance

with procedures the Financial Institution uses for the type of credit

requested”

– “Prequalification requests” (no property location) are not included

Reporting repurchases

Final Commentary requires they be reported as purchases

• Exception for assignments of legal ownership that operate as the

functional equivalent of warehouse lines

New HMDA Final Rule

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March 22, 2016

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Preapprovals

New rule will require reporting of preapproval requests for home purchase loans

that were approved but not accepted

Preapprovals for other than a home purchase will not be reportable (same as current)

• Preapproval requests for home purchase open-end lines of credit, home purchase reverse

mortgages, and home purchase loans secured by a multifamily dwelling are excluded

“Preapprovals” of home purchase loans – what are these?

Closed-end home purchase loan not secured by a multifamily dwelling

Bank must have a formal program for preapprovals

After analyzing applicant, a binding written commitment is given

The offer cannot be contingent on conditions, except for normal ones, like:

• Identification of a suitable property, no change in the applicant’s financial condition, other

normal conditions (like inspections)

There is a code for preapprovals on the LAR

New HMDA Final Rule

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March 22, 2016

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“Covered Transaction”

Existing HMDA is purpose-based: report home purchase, home improvement,

and refinancings

New HMDA is (mostly) collateral-based:

Any consumer loan or line of credit secured by a dwelling regardless of the purpose

• Includes HELOCs (will now be mandatory); refer to Reg. Z to determine whether open-

ended

• Home equity loans will now be covered, regardless of purpose

For business and commercial loans or lines of credit: reported only if made for home

purchase, home improvement, or refinancing and dwelling-secured

• This was a departure from the proposal (thankfully)

Extension of credit still requires a new debt obligation (i.e. no modifications)

• Includes assumptions (and successor-in-interest transactions)

• Includes NY State consolidations, extensions, and modification agreements classified as

supplemental mortgages under NY Tax Law

Unsecured loans for home improvement will be no longer covered

New HMDA Final Rule

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March 22, 2016

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“Dwelling”

Definition of “dwelling” remains unchanged

Includes second homes, vacation homes, investment properties, etc.

No need for it to be attached to real property

“A loan related to a Manufactured Home community is secured by a Dwelling even if

it is not secured by any individual Manufactured Homes, but is secured only by the

land that constitutes the Manufactured Home community”

• “However, a loan related to a multifamily residential structure or community

other than a Manufactured Home community is not secured by a Dwelling unless

it is secured by one or more individual dwelling units”

Secured by unimproved land is generally exempt, however…

• If institution knows, based on information received from the applicant or

borrower at the time the Application is received or the credit decision is made,

that proceeds will be used within 2 years to construct or purchase a dwelling to

be placed on the land, it is secured by a dwelling and reportable

New HMDA Final Rule

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March 22, 2016

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Exemptions

Need not be reported:

Temporary financing

• “Designed to be replaced by permanent financing at a later time”

Total dollar amount of loan or line is less than $500

Purchase of servicing rights

Purchase of an interest in a pool of loans or lines

Agricultural purpose loans

• All dwelling-secured loans and LOCs for an agricultural purpose are

excluded from coverage, not just transactions to purchase a home

New HMDA Final Rule

Carl Pry

March 22, 2016

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What Happens When Multiple

Parties are Involved?

The “broker rule” still controls reporting

Whoever makes the final credit decision reports on their LAR

• Does not matter whose criteria are used in making the decision –

investor’s, other lender’s, or anyone else’s

• Does not matter in whose name the loan closes

If investor makes final credit decision, investor reports,

even if the loan closes in the bank’s name

If bank makes final credit decision, bank reports, even if

investor’s lending criteria was used

New HMDA Final Rule

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March 22, 2016

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Reported Data Elements

In total, up to 54 data points are reported (depending on how you count them)

10 unchanged from present rule

• Loan Type, Action Taken Date, Property State, Property County, Property Census Tract,

Borrower/Applicant Sex

• Application Date

– May be date institution received application or date on app form (should “generally

be consistent”)

• Borrower/Applicant Income

– May, but is not required to, report for applicant for purchased loan

• Action Taken

– Commentary provides additional examples on conditional approvals – reported as

declines if loan does not close because of underwriting conditions

– Clarifications on whether conditions are customary commitments or closing

conditions, and which are underwriting or creditworthiness conditions

• HOEPA Status (CFPB did not adopt proposal to disclose reason loan is a HOEPA loan)

New HMDA Final Rule

Carl Pry

March 22, 2016

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Reported Data Elements

In total, up to 54 data points are reported (depending on how you

count them)

11 modified

33 new

Results in 110 total data entry fields (71 new ones)

Bureau attempted to align collection requirements with MISMO

(Mortgage Industry Standards Maintenance Organization) and

Fannie/Freddie’s Uniform Mortgage Data Program

CFPB has published 2017 Data Specifications and 2018 File

Specifications

2018 Data Specifications to come later

http://www.consumerfinance.gov/hmda/for-filers





New HMDA Final Rule

Carl Pry

March 22, 2016

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Modified Data Elements

Universal Loan Identified (ULI)

Identifier that contains institution’s legal entity identifier (LEI), an

internally-generated sequence of characters (up to 23 additional characters),

and a two-character check digit, as prescribed in Appendix C

Currently just requires it be unique within the institution

Loan Purpose

Adds cash-out refi and purpose other than home purchase, home

improvement, refi, or cash-out refi

Preapproval

Removes requirement (at this data point) to indicate whether preapproval

resulted in denial or origination

• Collected in a separate data point

New HMDA Final Rule

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March 22, 2016

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Occupancy Type

Adds use as second residence or investment property

• Currently indicates only whether property is used as primary residence

Loan Amount

Exactly dollar amount recorded, not rounded to nearest thousand

• Loans under $500 still excluded

Adds methods to determine reportable amounts

Type of Purchaser

Commentary alters potential selections to include loan participation interests

sold to more than 1 company and swapped covered loans

Removes proposed exclusion of this data point from quarterly reporting

New HMDA Final Rule

Carl Pry

March 22, 2016

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Rate Spread

Requires rate spread for all loans subject to Regulation Z

• Other than assumptions, purchased loans, and reverse mortgages

Currently required only if spread is greater than 1.5 points for first-lien and

3.5 percentage points for subordinate-lien

Not required for commercial transactions or purchased loans

Lien Status

Removes option for “loan not secured by lien on a dwelling”

Reason for Denial

Makes this mandatory for every reporter (not just OCC or FDIC banks)

Can use reasons from Reg. B Adverse Action form

Report only principal reason(s) for denial

If reason is “Other,” than free-form field must detail

New HMDA Final Rule

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March 22, 2016

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Borrower/Applicant Ethnicity and Race

Disaggregates race and ethnicity categories

Applicants may add details; institutions are not permitted to complete any subcategories

• New Sample data collection form in Appendix B

Current HMDA New HMDA

Race • American Indian or

Alaska Native

• American Indian or Alaska Native

• Applicants may also provide name of enrolled or principal tribe

• Asian • Asian

• Applicants may also provide Asian Indian, Chinese, Filipino, Japanese,

Korean, Vietnamese, or Other Asian (with instructions to provide race)

• Black or African

American

• Black or African American

• Native Hawaiian or

Pacific Islander

• Native Hawaiian or Pacific Islander

• Applicants may also provide Native Hawaiian, Guamanian or

Chamorro, Samoan, or Other Pacific Islander (with instructions to

provide race)

• White • White

Ethnicity • Hispanic or Latino • Hispanic or Latino

• Applicants also permitted to provide Mexican, Puerto Rican, Cuban, or

Other Hispanic or Latino (with instructions to provide origin)

New HMDA Final Rule

Carl Pry

March 22, 2016

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New Data Elements – Lender

Legal Entity Identifier

Issued to institution by endorsed utility or committee

Per CFPB, go to Global LEI Foundation website to get one:

https://www.gleif.org/en/lei-focus/how-to-get-an-lei

NMSLR Originator ID

The loan originator identifier under the SAFE Act with primary

responsibility for the transaction as of the date of action taken

New HMDA Final Rule

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March 22, 2016

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New Data Elements – Applicant

Borrower/Applicant Age

May, but is not required to, report for applicant for purchased loan

Credit Score

Score (as defined by FCRA) relied upon in making the decision (not AUS finding)

Not required for purchased loans, incomplete or withdrawn applications, or applicants

are not natural persons

Credit Score Method

Name and version of score model used to generate each credit score

Not required for purchased loans

Debt-to-Income Ratio

Ratio relied upon (“ratio of the applicant’s or borrower’s total monthly debt to total

monthly income,” but no calculation was specified)

Not required for purchased loans, incomplete, approved not accepted, withdrawn

applications, non-natural person applicants, or secured by multifamily dwelling













New HMDA Final Rule

Carl Pry

March 22, 2016

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New Data Elements – Collateral

Construction Method

Whether “site-built” or “manufactured housing”

• Replaces “Property Type”: whether single-family, multi-family, or manufactured

home

• “Single-family” vs. “multi-family” data is gathered by new “number of units”

Property Address

Postal address of property securing loan or proposed to secure the loan

Property Value

Value of collateral property or proposed collateral relied upon

Manufactured Loan Type

Whether loan is secured by a manufactured home with land or without

New HMDA Final Rule

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March 22, 2016

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New Data Elements – Collateral

Manufactured Home Land Property Interest

Ownership or leasehold interest in land where manufactured home is located

Total Units

Total number of dwelling units related to collateral property or proposed

collateral

Multifamily Affordable United

Total number of dwelling units related to collateral property or proposed

collateral that are income-restricted under federal, state, or local affordable

housing programs

New HMDA Final Rule

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March 22, 2016

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New Data Elements – TRID

Total Loan Costs or Total Points and Fees

If not subject to TRID, total points and fees as calculated pursuant to Reg. Z

Not required for commercial transactions or purchased loans

Origination Charges

Borrower-paid origination charges

Not required for commercial transactions

Discount Points


Lender Credits

Amount of lender credits


― These 4 data elements are required only if loan is subject to TRID

Look to Closing Disclosure

― Note that if TRID requires revised disclosures, these revisions must be reported on

HMDA-LAR, not original amounts

New HMDA Final Rule

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March 22, 2016

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New Data Elements – Loan

Interest Rate

Interest rate applicable at closing or account opening

Not reported for denied, withdrawn, or incomplete applications

For other situations, a detailed chart is in the Small Entity Compliance Guide

Prepayment Penalty Term

If subject to Reg. Z, prepayment term in months (if any)

Not required for reverse mortgages, commercial transactions or purchased

loans

Combined Loan-to-Value (CLTV) Ratio

Ratio relied upon (no calculation was specified)

Not required for purchased loans, incomplete, or withdrawn applications

Loan Term

Scheduled number of months to maturity or termination

New HMDA Final Rule

Carl Pry

March 22, 2016

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Introductory Rate Period

Scheduled number of months until first date interest rate may change

Balloon Period

Whether loan includes a balloon payment

Interest-Only Payment

Whether loan includes any interest-only payments

Negative Amortization

Whether loan includes any negative amortization features

Payments Other than Fully-Amortizing Payments

Whether loan by its terms allows for payments other than fully-amortizing payments

New HMDA Final Rule

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March 22, 2016

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Application Channel

Whether application was submitted directly to the institution


Obligation Initially Payable

Whether loan was initially payable or would have been initially payable to the

institution


Automated Underwriting System (AUS)

AUS is an electronic tool developed by a securitizer, Federal government insurer or

guarantor, and evaluates risk and whether loan is eligible for purchase, insurance, or

guarantee

Name of AUS, if any

Not required for purchased loans or whether applicant is not a natural person

Result Generated by AUS

The result name


New HMDA Final Rule

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March 22, 2016

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Reverse Mortgage

Whether loan is a reverse mortgage

Open-End Line of Credit

Whether the transaction is a LOC

Business or Commercial Purpose

Whether loan or LOC is primarily for a business or commercial

purpose

New HMDA Final Rule

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March 22, 2016

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Commercial Transactions and

Purchased Loans

Data not required:

Commercial Transactions Purchased Loans

Rate Spread Rate Spread

Total Loan Costs or Total Points and Fees Credit Score

Origination Charges Credit Score Model

Discount Points Total Loan Costs or Points and Fees

Lender Credits Prepayment Penalty Term

Prepayment Penalty Term Debt-to-Income Ratio

Loan-to-Value Ratio

Application Channel

Obligation Initially Payable

Automated Underwriting System

Result Generated by Automated Underwriting System

New HMDA Final Rule

Carl Pry

March 22, 2016

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Recording and Reporting Data

Reporters must record data within 30 days after

the end of the calendar quarter when final action

is taken

May be multiple quarterly LARs

Not required to be on a single one

New HMDA Final Rule

Carl Pry

March 22, 2016

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Resubmission Guidelines

CFPB seeking comment on resubmission guidelines

http://www.consumerfinance.gov/newsroom/cfpb-seeks-public-input-on-mortgage-

lending-information-resubmission-guidelines/

Contains 12 main questions, including:

• Should CFPB continue to use error percentage thresholds to determine need for data

resubmission?

• Should error percentage thresholds, if retained:

– Be calculated differently

– Treat systemic and non-systemic errors differently

– Continue to include separate thresholds for the entire HMDA-LAR sample and individual data

fields within the LAR sample, or

– Include different thresholds for institutions with different LAR sizes and for different HMDA fields

based on LAR size?

• Should CFPB separately survey an institution’s internal data for HMDA-reportable

transactions that were omitted from its LAR?

• Should CFPB require correction and resubmission for some kinds of errors and, for

other kinds of errors, require only that an institution ensure the errors will not be found in

future HMDA submissions?

• Are changes needed in how CFPB conducts HMDA data integrity reviews, including how it

selects HMDA samples for such reviews?

http://www.consumerfinance.gov/newsroom/cfpb-seeks-public-input-on-mortgage-lending-information-resubmission-guidelines/




















New HMDA Final Rule

Carl Pry

March 22, 2016

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Electronic Submission

Data collected in 2017 and reported by March 1, 2018

(as well as beyond), will be submitted via a to-be-

released CFPB tool

Landing page is operational (www.consumerfinance.gov/hmda)

but not details on submission tool yet

Data submitted in a text file (*.txt); fields must be delimited by

the vertical bar (“|”) character , also called a “pipe”

• Delimited format will replace current fixed-field format, removing need

for leading and trailing zeros in most fields

Note that this requirement begins before enhanced data

collection begins

New HMDA Final Rule

Carl Pry

March 22, 2016

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Disclosure Statement

HMDA disclosure statements will be available on the

CFPB’s website beginning with 2017 data

Modified LARs will no longer be required to be maintained by

banks

New model language for postings in home offices and branches

to direct public to the website

• CFPB is determining what data to make public (privacy

concerns)

• “balancing test to determine whether and how HMDA data

should be modified prior to its disclosure to the public in

order to protect applicant and borrower privacy while also

fulfilling the disclosure purposes of the statute”

http://www.consumerfinance.gov/hmda

New HMDA Final Rule

Carl Pry

March 22, 2016

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Violations

“Inaccuracies or omissions in quarterly reporting are not

violations of HMDA or Regulation C if the financial

institution makes a good-faith effort to report quarterly

data timely, fully, and accurately, and then corrects or

completes the data prior to its annual submission”

Inaccurate or late HMDA-LAR filings are violations

And examiners are relatively intolerant of them

Civil money penalties are a potential penalty

New HMDA Final Rule

Carl Pry

March 22, 2016

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Contact Information

Upcoming Webinars

• Living Trust Documents – March 23

• Limited Liability Companies: Do's and Don'ts –

March 29

• Call Report - Lending Schedules for Banks – March

29

• Online Deposit Account Opening: CIP, CDD and

Other Compliance Issues – March 30

• Opening New Accounts I - Legal Ownership of

Consumer Accounts – March 30

• Uniform Commercial Code Rules: How to Comply to

Attach and Perfect Secured Transactions – April 5

• Handling Checks after Death of the Account Holder –

April 5

• Using Personal Tax Returns for Global Cashflow:

What's Cashflow and What Isn't – April 6

• Advanced Topics in Commercial Lending – April 7

• The Bank CEO Guide to 5 Keys to a High Performing

Sales Team – April 11

Compliance Questions:

Carl Pry

Treliant Risk Advisors

[email protected]

Webinar/Registration Questions:

Mark Bennett

Total Training Solutions

PO Box 310

Waunakee, WI 53597

1-800-831-0678

www.BankWebinars.com

[email protected]

1 “Data as required under the current rule” on this timeline is defined as the data required to be collected and reported under Regulation C, prior to amendments to § 1003.4 effective on January 1, 2018.

2 “Data as required under the new rule” on this timeline is defined as the data required to be collected and reported under Regulation C, as amended by the HMDA Rule issued on October 15, 2015.

This chart summarizes requirements under HMDA and Regulation C, and does not itself establish any binding obligations. It is intended only to act as a quick reference and not as a substitute for the regulation or its commentary. Always consult the regulation text and official commentary for a complete understanding of the law. For more information on key HMDA dates and implementation, please refer to the HMDA Rule and additional resources provided at http://www.consumerfinance.gov/hmda and http://www.consumerfinance.gov/regulatory-implementation/hmda.

HMDA Rule Key Dates Timeline

2016 2017 2018 2019 2020

Eff

ectiv

eD

ates

No new regulatory requirements go into effect

1/1Effective date for excluding low volume depository institutions from coverage

1/1Effective date for most provisions related to institutional and transactional coverage, and data collection, recording, reporting, and disclosure

1/1Effective date for changes to enforcement provisions and additional amendments to reporting provisions

1/1Effective date for quarterly reporting provisions

Dat

a C

olle

ctio

n Q1 – Q4Collect 2016 data as required under the current rule1 (for reporting in 2017)

Q1 – Q4Collect 2017 data as required under the current rule1 (for reporting in 2018)

Q1 – Q4Collect 2018 data as required under the new rule2 (for reporting in 2019)

Q1 – Q4Collect 2019 data as required under the new rule2 (for reporting in 2020)

Q1 – Q4Collect 2020 data as required under the new rule2 (for reporting in 2021 and, if FI is quarterly reporter, 2020)

Dat

aS

ubm

issi

on

1/1 – 3/1Submit 2015 data as required under the current rule,1and submit to the Federal Reserve Board

1/1 – 3/1Submit 2016 data as required under the current rule,1 and submit to the Federal Reserve Board

1/1 – 3/1Submit 2017 data as required under the current rule,1 andsubmit to the CFPB

1/1 – 3/1Submit 2018 data as required under the new rule,2 and submit to the CFPB

1/1 – 3/1Submit 2019 data as required under the new rule,2 and submit to the CFPB

4/1 – 5/30Quarterly FI reporters report Q1, 2020 data as required under the new rule,2 and submit to the CFPB

1 NEW RULE SUMMARY: HOME MORTGAGE DISCLOSURE (REGULATION C)

October 15, 2015

New Rule Summary: Home Mortgage Disclosure (Regulation C)

The Consumer Financial Protection Bureau (Bureau) has issued a final rule amending Regulation C. This

final rule changes the:

1. Types of institutions that are subject to Regulation C;

2. Types of transactions that are subject to Regulation C;

3. Specific information that covered institutions are required to collect, record, and report; and

4. Processes for reporting and disclosing data.

Background

The Home Mortgage Disclosure Act (HMDA) requires certain institutions to collect, report, and disclose

information about their mortgage lending activity. This information is important because it:

1. Helps show whether financial institutions are serving the housing needs of their communities;

2. Assists public officials in distributing public-sector investment to attract private investment to

areas where it is needed; and

3. Assists with the identification of potentially discriminatory lending patterns and enforcement of

antidiscrimination laws.

Regulation C implements HMDA and sets out specific requirements for the collection, recording,

reporting, and disclosure of mortgage lending information.

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) transferred

rulemaking authority for HMDA to the Bureau, effective July 2011. It also amended HMDA to add new

data points and authorized the Bureau to require additional information from covered institutions. In July

2014, the Bureau proposed amendments to Regulation C to implement the Dodd-Frank Act changes, to

require collection, recording, and reporting of additional information to further HMDA’s purposes, and to

modernize the manner in which covered institutions report HMDA data. The Bureau carefully reviewed


and considered comments it received on its proposed amendments, and has issued its final rule

amending Regulation C (HMDA Rule).

This document summarizes the HMDA Rule’s changes to Regulation C, and the chart at the end of the

document provides a snapshot of some of the most important changes. The summary and chart are aids

to understanding the HMDA Rule, but are not substitutes for it. The HMDA Rule is the definitive source

regarding its requirements.

Institutional Coverage

The HMDA Rule changes institutional coverage in two phases.

First, the HMDA Rule narrows the scope of depository institutions subject to Regulation C in 2017. A

bank, savings association, or credit union will not be subject to Regulation C in 2017 unless it meets the

asset-size, location, federally related, and loan activity tests under current Regulation C and it originates

at least 25 home purchase loans, including refinancings of home purchase loans, (as those terms are

defined in current Regulation C) in both 2015 and 2016.

Second, effective January 1, 2018, the HMDA Rule adopts a uniform loan-volume threshold for all

institutions. Beginning in 2018, an institution will be subject to Regulation C if it originated at least 25

covered closed-end mortgage loans in each of the two preceding calendar years or at least 100 covered

open-end lines of credit in each of the two preceding calendar years, and it meets other applicable

coverage requirements. A bank, savings association, or credit union will be subject to Regulation C if it

originated at least 25 covered closed-end mortgage loans or at least 100 covered open-end lines of credit

in each of the two preceding calendar years, and it meets current Regulation C’s asset-size, location,

federally related, and loan activity tests. A for-profit lending institution other than a bank, savings

association, or credit union will be subject to Regulation C if it originated at least 25 covered closed-end

mortgage loans or at least 100 covered open-end lines of credit in each of the two preceding calendar

years and it satisfies the existing location test.

Transactional Coverage

The HMDA Rule modifies the types of transactions that are covered under Regulation C. In general, the

HMDA Rule adopts a dwelling-secured standard for transactional coverage.

Beginning on January 1, 2018, covered loans under the HMDA Rule generally will include closed-end

mortgage loans and open-end lines of credit secured by a dwelling. However, the HMDA Rule only

requires covered institutions that originated at least 100 covered open-end lines of credit in each of the

two preceding calendar years to collect, record, and report information about open-end lines of credit.

Dwelling-secured business-purpose loans and lines of credit will be covered only if they are home

purchase loans, home improvement loans, or refinancings. Covered loans and lines of credit will not


include agricultural-purpose transactions or other specifically excluded transactions, even if they are

dwelling-secured. Home improvement loans will only be covered loans if they are secured by a dwelling.

The HMDA Rule also changes the scope of covered preapproval requests. Currently, the collection,

recording, and reporting of preapproval requests that are approved but not accepted is optional under

Regulation C. Beginning January 1, 2018, covered institutions will be required to collect, record, and

report information for approved but not accepted preapproval requests for home purchase loans.

However, preapproval requests for open-end lines of credit, reverse mortgages, and home purchase

loans to be secured by multifamily dwellings will not be covered transactions under the HMDA Rule,

effective January 1, 2018.

Reportable Data

For HMDA data collected on or after January 1, 2018, covered institutions will collect, record, and report

additional information about originations of, purchases of, and applications for covered loans. The HMDA

Rule adds the data points specifically identified in the Dodd-Frank Act as well as data points that the

Bureau determined will assist in carrying out HMDA’s purposes. The HMDA Rule adds new data points

for applicant or borrower age, credit score, automated underwriting system information, unique loan

identifier, property value, application channel, points and fees, borrower-paid origination charges,

discount points, lender credits, loan term, prepayment penalty, non-amortizing loan features, interest rate,

and loan originator identifier as well as other data points. The HMDA Rule also modifies several existing

data points. For more information on the new and modified data points, see the HMDA Summary of

Reportable Data chart.

Collection and Reporting of Applicant or Borrower Information

For data collected in or after 2018, the HMDA Rule amends the requirements for collection and reporting

of information regarding an applicant’s or borrower’s ethnicity, race, and sex.

First, the HMDA Rule adds a requirement to report how the institution collected the information about the

applicant’s or borrower’s ethnicity, race, and sex. A covered institution will report whether or not it

collected the information on the basis of visual observation or surname. Both the HMDA Rule and current

Regulation C require a covered institution to collect information about an applicant’s ethnicity, race, and

sex on the basis of visual observation or surname when an applicant chooses not to provide the

information for an application taken in person.

Second, for applicant or borrower information collected on or after January 1, 2018, covered institutions

must permit applicants to self-identify their ethnicity and race using disaggregated ethnic and racial

subcategories. Covered institutions will report disaggregated information applicants provide. However,

the HMDA Rule will not require or permit covered institutions to use the disaggregated subcategories

when identifying the applicant’s ethnicity and race based on visual observation or surname. The HMDA


Rule includes a new sample data collection form in appendix B that provides the required aggregated

categories and disaggregated subcategories for ethnicity and race.

Data Submission Process

The Bureau is developing a new web-based submission tool for reporting HMDA data. Covered

institutions will report data using the new web-based submission tool beginning in 2018.

Appendix A, which provides instructions for completing and submitting the HMDA loan/application register

(LAR), is amended effective January 1, 2018 to include new transition requirements for data collected in

2017 and reported in 2018. In particular, amended appendix A requires that a covered institution

electronically submit its LAR. In 2018, covered institutions will report 2017 data required under current

Regulation C, but will use the new electronic submission tool and will submit data in accordance with

amended appendix A and procedures that will be available at http://www.consumerfinance.gov/hmda.

Effective January 1, 2019, appendix A is removed from Regulation C. Beginning in 2019, covered

institutions will report the new dataset required by the HMDA Rule, using the new electronic submission

tool and revised procedures that will be available at http://www.consumerfinance.gov/hmda.

Quarterly Reporting

Beginning in 2020, the HMDA Rule requires quarterly reporting for covered institutions that reported a

combined total of at least 60,000 applications and covered loans in the preceding calendar year. When

determining whether it is required to report on a quarterly basis, an institution will not count covered loans

that it purchased in the preceding calendar year. In addition to their annual data submission, these

larger-volume reporters will submit HMDA data for the first three quarters of the year on a quarterly basis.

The first quarterly submission will be due by May 30, 2020.

Disclosure Requirements

Beginning in 2018, covered institutions will no longer be required to provide a disclosure statement or a

modified LAR to the public upon request. Instead, in response to a request, a covered institution will

provide a notice that its disclosure statement and modified LAR are available on the Bureau’s website.

The HMDA Rule includes sample language that covered institutions can use for these purposes. These

revised disclosure requirements will apply to data collected on or after January 1, 2017 and reported in or

after 2018.

For data collected in or after 2018 and reported in or after 2019, the Bureau will use a balancing test to

determine whether and, if so, how HMDA data should be modified prior to its disclosure in order to protect

applicant and borrower privacy while also fulfilling HMDA’s disclosure purposes. At a later date, the

Bureau will provide a process for the public to provide input regarding the application of this balancing

test to determine the HMDA data to be publicly disclosed.


Home Mortgage Disclosure Rule Summary of Changes

Change type The final rule

Uniform loan-volume

threshold for institutional

coverage

Modifies which institutions are subject to Regulation C and adopts a uniform loan-

volume threshold for depository and nondepository institutions. Excludes

institutions that did not originate at least 25 closed-end mortgage loans in each of

the two preceding calendar years or at least 100 open-end lines of credit in each of

the two preceding calendar years from institutional coverage.

Dwelling-secured

transaction test

Changes Regulation C’s transactional coverage from a purpose-based test to a

dwelling-secured test for consumer-purpose loans and applications. Maintains a

purpose-based test and adds a dwelling-secured test for business-purpose loans

and applications. Broadens the exclusion for agricultural-purpose loans and

applications.

Covered open-end lines

of credit

Requires covered institutions that originated at least 100 covered open-end lines of

credit in each of the two preceding calendar years to collect, record, and report

data for open-end lines of credit secured by a dwelling, unless the lines of credit

are otherwise excluded. A business-purpose line of credit is excluded, unless it is

secured by a dwelling and is a home purchase loan, home improvement loan, or

refinancing.

Covered preapproval

requests

Changes Regulation C’s transactional coverage for preapproval requests. Includes

preapproval requests that are approved but not accepted within the scope of

covered preapproval requests. Excludes requests for open-end lines of credit,

reverse mortgages, and loans to be secured by multifamily dwellings from the

scope of covered preapproval requests.

Additional and modified

data points

Adds and modifies data points. Additional data points include, but are not limited

to: applicant or borrower age, credit score, automated underwriting system

information, unique loan identifier, property value, application channel, points and

fees, borrower-paid origination charges, discount points, lender credits, loan term,

prepayment penalty, nonamortizing loan features, interest rate, and loan originator

identifier. Rate spread will be collected, recorded, and reported for a broader

range of loans.

Collection and reporting

of information regarding

ethnicity, race, and sex

Requires covered institutions to report when they collect information about an

applicant’s or borrower’s ethnicity, race, and sex based on visual observation or

surname. Allows applicants and borrowers to self-identify using ethnicity and race

subcategories.

Data submission process Requires electronic submission of HMDA data using new procedures.

Quarterly reporting Adds a quarterly reporting requirement for larger-volume reporters.

Effective January 1, 2018

1 SUMMARY OF REPORTABLE HMDA DATA – VERSION 1.0, 10/15/2015

Summary of Reportable HMDA Data – Regulatory Reference Charta

This chart is intended to be used as a reference tool for data points required to be collected, recorded, and reported under Regulation C, as amended by the HMDA Rule issued on October 15, 2015. The relevant regulation and commentary sections are provided for ease of reference. This chart does not provide data fields or enumerations used in preparing the HMDA loan/application register (LAR). For more information on preparing the HMDA LAR, please see http://www.consumerfinance.gov/hmda.

Data Point Statusb Description Regulation C References

(1) Legal Entity Identifier (LEI)

Modified Identifier issued to the financial institution (FI) by a utility endorsed by the Global LEI Foundation or LEI Regulatory Oversight Committee

§ 1003.4(a)(1)(i)(A)

(2) Universal Loan Identifier (ULI)

Modified Identifier assigned to identify and retrieve a loan or application that contains the FI’s LEI, an internally generated sequence of characters, and a check digit

§ 1003.4(a)(1)(i), Comments 4(a)(1)(i)-1 through -5, and appendix C

(3) Application Date Existing Date the application was received or the date on the application form

§ 1003.4(a)(1)(ii), Comments 4(a)(1)(ii)-1 through -3

(4) Loan Type Existing

Whether the loan or application is insured by the Federal Housing Administration, guaranteed by the Veterans Administration, Rural Housing Service, or Farm Service Agency

§ 1003.4(a)(2), Comment 4(a)(2)-1

(5) Loan Purpose Modified Whether the transaction is for home purchase, home improvement, refinancing, cash-out refinancing, or another purpose

§ 1003.4(a)(3), Comments 4(a)(3)-1 through -5




(6) Preapproval Modified Whether the transaction involved a preapproval request for a home purchase loan under a preapproval program

§ 1003.4(a)(4), Comments 4(a)(4)-1 and -2

(7) Construction Method Modified Whether the dwelling is site-built or a manufactured home


(8) Occupancy Type Modified Whether the property will be used as a principal residence, second residence, or investment property


(9) Loan Amount Modified Amount of the loan or the amount applied for § 1003.4(a)(7), Comments 4(a)(7)-1 through -9

(10) Action Taken and (11) Action Taken Date

Existing Type and date of action the FI took on the loan, application, or preapproval request

§ 1003.4(a)(8), Comments 4(a)(8)(i)-1 through -14 and 4(a)(8)(ii)-1 through -6

(12) Property Address New Address of the property securing the loan (or proposed to secure a loan)

§ 1003.4(a)(9)(i), Comments 4(a)(9)-1 through -5 and 4(a)(9)(i)-1 through -3

(13), (14), and (15) Property Location

Existing Location of the property securing the loan (or proposed to secure a loan) by state, county, and census tract

§ 1003.4(a)(9)(ii), Comments 4(a)(9)-1 through -5, 4(a)(9)(ii)(B)-1, and 4(a)(9)(ii)(C)-1

(16) Ethnicity, (17) Race, and (18) Sex

Modified Applicant’s or borrower’s ethnicity, race, and sex, and if information was collected by visual observation or surname

§ 1003.4(a)(10)(i), Comments 4(a)(10)(i)-1 and -2 and appendix B




(19) Age New Applicant’s or borrower’s age § 1003.4(a)(10)(ii), Comments 4(a)(10)(ii)-1 through -5

(20) Income Existing

If credit decision is made, gross annual income relied on in making the credit decision; Or, if a credit decision was not made, the gross annual income relied on in processing the application

§ 1003.4(a)(10)(iii), Comments 4(a)(10)(iii)-1 through -10

(21) Type of Purchaser Modified Type of entity that purchased the loan § 1003.4(a)(11), Comments 4(a)(11)-1 through -10

(22) Rate Spread Modified Difference between the annual percentage rate and average prime offer rate for a comparable transaction


(23) HOEPA Status Existing Whether the loan is a high-cost mortgage under the Home Ownership and Equity Protection Act (HOEPA)

§ 1003.4(a)(13), Comment 4(a)(13)-1

(24) Lien Status Modified Whether the property is a first or subordinate lien § 1003.4(a)(14), Comments 4(a)(14)-1 and -2

(25) Credit Score New Credit score(s) relied on and the name and version of the credit scoring model


(26) Reason for Denial Modified Reason(s) the application was denied § 1003.4(a)(16), Comments 4(a)(16)-1 through -4

(27) Total Loan Costs or Total Points and Fees

New Either total loan costs, or total points and fees charged § 1003.4(a)(17), Comments 4(a)(17)(i)-1 through -3 and 4(a)(17)(ii)-1 through -2




(28) Origination Charges New Total borrower-paid origination charges § 1003.4(a)(18), Comments 4(a)(18)-1 through -3

(29) Discount Points New Points paid to the creditor to reduce the interest rate § 1003.4(a)(19), Comments 4(a)(19)-1 through -3

(30) Lender Credits New Amount of lender credits § 1003.4(a)(20), Comments 4(a)(20)-1 through -3

(31) Interest Rate New Interest rate on the approved application or loan § 1003.4(a)(21), Comments 4(a)(21)-1 through -3

(32) Prepayment Penalty Term

New Term in months of any prepayment penalty § 1003.4(a)(22), Comments 4(a)(22)-1 through -2

(33) Debt-to-Income Ratio New Ratio of the applicant’s or borrower’s total monthly debt to total monthly income relied on


(34) Combined Loan-to-Value Ratio

New Ratio of the total amount of debt that is secured by the property to the value of the property that was relied on


(35) Loan Term New Number of months after which the legal obligation will mature or terminate


(36) Introductory Rate Period

New Number of months until the first date the interest rate may change


(37) Non-Amortizing Features

New Whether the transaction involves a balloon payment, interest-only payments, negative amortization, or any other type of non-amortizing feature

§ 1003.4(a)(27), Comment 4(a)(27)-1




(38) Property Value New Value of the property relied on that secures the loan § 1003.4(a)(28), Comments 4(a)(28)-1 through -4

(39) Manufactured Home Secured Property Type

New Whether the covered loan is secured by a manufactured home and land or a manufactured home and not land


(40) Manufactured Home Land Property Interest

New Information about the applicant’s or borrower’s ownership or leasehold interest in the land where the manufactured home is located


(41) Total Units New Number of individual dwelling units related to the property


(42) Multifamily Affordable Units

New Number of individual dwelling units related to the property that are income-restricted under federal, state, or local affordable housing programs


(43) Application Channel (Submission of Application and Initially Payable to Your Institution)

New Indicators of whether the application was submitted directly to the FI, and whether the obligation was initially payable to the FI

§ 1003.4(a)(33), Comments 4(a)(33)-1, 4(a)(33)(i)-1, and 4(a)(33)(ii)-1 through -2

(44) Mortgage Loan Originator NMLSR Identifier

New National Mortgage Licensing System & Registry (NMLSR) identifier for the mortgage loan originator


(45) Automated Underwriting System

New Name of the automated underwriting system used by the FI to evaluate the application and the result generated by that system





(46) Reverse Mortgage New Indicator of whether the transaction is for a reverse mortgage

§ 1003.4(a)(36)

(47) Open-End Line of Credit

New Indicator of whether the transaction is for an open-end line of credit

§ 1003.4(a)(37), Comment 4(a)(37)-1

(48) Business or Commercial Purpose

New Indicator of whether the transaction is primarily for a business or commercial purpose

§ 1003.4(a)(38), Comment 4(a)(38)-1

a This chart does not contain information about the submission process or procedures, nor does it contain any of the exceptions that are found in the HMDA Rule, such as when a particular data point is not reportable for a particular loan or application. b The “Status” column indicates whether the data point required to be collected, recorded, and reported under the HMDA Rule is new or modified as compared to what was previously collected, recorded, and reported under Regulation C. “New” data refers to data points that were not previously required to be collected, recorded, or reported under Regulation C. This chart summarizes requirements under HMDA and Regulation C, and does not itself establish any binding obligations. It is intended only to act as a quick reference and not as a substitute for the regulation or its official commentary. Always consult the regulation text and official commentary for a complete understanding of the law.


1 HMDA RULE: REPORTING NOT APPLICABLE – VERSION 1.0, 11/30/15

HMDA Rule: Reporting Not Applicablea

Datab Report Not Applicable for . . .

Application Date Purchased covered loans, § 1003.4(a)(1)(ii)

Property Address

Covered loans or applications if the property address of the property securing the covered loan is not known (e.g., the property address was not provided to the institution before the application was denied, withdrawn, or closed for incompleteness), Comment 4(a)(9)(i)-3;

Covered loans or applications if a site of a manufactured home has not been identified, Comment 4(a)(9)-5

State

Covered loans or applications if the property is not located in an Metropolitan Statistical Area (MSA) or Metropolitan Division (MD) in which the institution has a home or branch office and the institution is not required to report data on small business, small farm, and community development lending under regulations that implement the Community Reinvestment Act of 1977, § 1003.4(a)(9)(ii)(A) and § 1003.4(e);

Covered loans or applications if the site of a manufactured home has not been identified, Comment 4(a)(9)-5

County

Covered loans or applications if the property is not located in an MSA or MD in which the institution has a home or branch office and the institution is not required to report data on small business, small farm, and community development lending under regulations that implement the Community Reinvestment Act of 1977, § 1003.4(a)(9)(ii)(B) and § 1003.4(e);

Covered loans or applications if the site of a manufactured home has not been identified, Comment 4(a)(9)-5




Census Tract

Covered loans or applications if the property is not located in an MSA or MD in which the institution has a home or branch office and the institution is not required to report data on small business, small farm, and community development lending under regulations that implement the Community Reinvestment Act of 1977, § 1003.4(a)(9)(ii)(C) and § 1003.4(e);

Covered loans or applications if the property is located in a county with a population of 30,000 or less according to

the most recent decennial census conducted by the U.S. Census Bureau, § 1003.4(a)(9)(ii)(C); Covered loans or applications if the site of a manufactured home has not been identified, Comment 4(a)(9)-5

Ethnicity, Race, and Sex of Applicant or Borrower, and/or Co-Applicant or Co-Borrower, and Whether Collected on the Basis of Visual Observation or Surname

Purchased covered loans for which the financial institution chooses not to report the applicant’s or co-applicant’s ethnicity, race, and sex, appendix B;

Covered loans or applications when applicant or co-applicant is not a natural person, appendix B

Age

Purchased covered loans for which the financial institution chooses not to report the applicant’s or co-applicant’s age, Comment 4(a)(10)(ii)-3;

Covered loans or applications when applicant or co-applicant is not a natural person, Comment 4(a)(10)(ii)-4




Income

Covered loans or applications for which the credit decision did not consider, or would not have considered income, § 1003.4(a)(10)(iii); Comment 4(a)(10)(iii)-6;

Covered loans or applications when applicant or co-applicant is not a natural person, Comment 4(a)(10)(iii)-7; Covered loan is secured by, or application is proposed to be secured by, a multifamily dwelling, Comment

4(a)(10)(iii)-8; Purchased covered loans for which the financial institution chooses not to report the income, Comment

4(a)(10)(iii)-9; Covered loan to, or an application from, the institution’s employees to protect their privacy, even if the institution

relied on their income in making the credit decision, Comment 4(a)(10)(iii)-3

Type of Purchaser

Applications that were denied, withdrawn, closed for incompleteness, or approved but not accepted by the applicant, Comment 4(a)(11)-10;

Preapproval requests that were denied or approved but not accepted by the applicant, Comment 4(a)(11)-10; Originated or purchased covered loans that the financial institution did not sell during that same calendar year,

Comment 4(a)(11)-10

Rate Spread

Covered loans that are assumptions, reverse mortgages, purchased loans, or are not subject to Regulation Z, § 1003.4(a)(12)(i); Comment 4(a)(12)-7;

Applications that did not result in an origination other than approved but not accepted, Comment 4(a)(12)-7

HOEPA Status

Covered loans not subject to the Home Ownership and Equity Protection Act (HOEPA) of 1994, as implemented in Regulation Z, § 1026.32(a), § 1003.4(a)(13); Comment 4(a)(13)-1

Applications that did not result in originations, Comment 4(a)(13)-1




Credit Score for Applicant or Borrower and/or Co-Applicant or Co-Borrower and Name and Version of Scoring Model

Purchased covered loans, § 1003.4(a)(15)(i); Comment 4(a)(15)-6; Transactions for which no credit decision was made (e.g., files closed for incompleteness, or if an application was

withdrawn before a credit decision was made), Comment 4(a)(15)-4; Transactions for which the credit decision was made without relying on a credit score, Comment 4(a)(15)-5; Covered loans or applications when applicant and co-applicant are not natural persons, Comment 4(a)(15)-7

Reason for Denial Applications that were not denied, Comment 4(a)(16)-4

Total Loan Costs

Total Loan Costs:

Applications, Comment 4(a)(17)(i)-1; Covered loans that are not subject to Regulation Z, § 1026.43(c), § 1003.4(a)(17); Covered loans subject to Regulation Z § 1026.43(c) for which a disclosure is not provided pursuant to

§ 1026.19(f), § 1003.4(a)(17) Purchased covered loans for which applications were received by the selling entity prior to the effective date

of Regulation Z, § 1026.19(f), Comment 4(a)(17)(i)-2

Total Points and Fees

Total Points and Fees:

Applications, Comment 4(a)(17)(ii)-1; Covered loans that are not subject to Regulation Z, § 1026.43(c), Comment 4(a)(17)(ii)-1; Covered loans subject to Regulation Z, § 1026.43(c) for which a disclosure is provided pursuant to Regulation

Z, § 1026.19(f), § 1003.4(a)(17)(ii); Purchased covered loans, Comment 4(a)(17)(ii)-1




Origination Charges

Applications, Comment 4(a)(18)-1; Covered loans not subject to Regulation Z, § 1026.19(f), § 1003.4(a)(18); Comment 4(a)(18)-1; Purchased covered loans with applications that were received by the selling entity prior to the effective date of

Regulation Z, § 1026.19(f), Comment 4(a)(18)-2

Discount Points



Lender Credits



Interest Rate Applications that have been denied, withdrawn, or closed for incompleteness, Comment 4(a)(21)-2

Prepayment Penalty Term

Covered loans or applications that are not subject to Regulation Z, § 1026, § 1003.4(a)(22); Comment 4(a)(22)-1; Covered loans or applications that have no prepayment penalty, Comment 4(a)(22)-2




Debt-to-Income Ratio

Purchased covered loans, § 1003.4(a)(23); Comment 4(a)(23)-7; Transactions for which no credit decision was made (e.g., files closed for incompleteness, or if an application was

withdrawn before a credit decision was made), Comment 4(a)(23)-3; Transactions for which the credit decision was made without relying on debt-to-income ratio, Comment 4(a)(23)-4; Covered loans or applications when applicant and co-applicant are not natural persons, Comment 4(a)(23)-5; Covered loan secured by, or an application proposed to be secured by, a multifamily dwelling, Comment 4(a)(23)-

6

Combined Loan-to-Value Ratio

Purchased covered loans, § 1003.4(a)(24); Comment 4(a)(24)-5; Transactions for which no credit decision was made (e.g., files closed for incompleteness, or if an application was

withdrawn before a credit decision was made), Comment 4(a)(24)-3; Transactions for which the credit decision was made without relying on combined loan-to-value ratio, Comment

4(a)(24)-4

Loan Term Covered loan or application without a definite term, such as a reverse mortgage, Comment 4(a)(25)-5

Introductory Rate Period

Covered loan or application with a fixed rate, Comment 4(a)(26)-3; Purchased covered loan with a fixed rate, Comment 4(a)(26)-4

Property Value

Transactions for which no credit decision was made (e.g., files closed for incompleteness, or if an application was withdrawn before a credit decision was made), Comment 4(a)(28)-3;

Transactions for which the credit decision was made without relying on property value, Comment 4(a)(28)-4




Manufactured Home Secured Property Type

The dwelling related to the property identified is not a manufactured home, § 1003.4(a)(29); Comment 4(a)(29)-4 The dwelling related to the property identified is a manufactured home community that is a multifamily dwelling,

Comment 4(a)(29)-2; Comment 4(a)(29)-4

Manufactured Home Land Property Interest

The dwelling related to the property identified is not a manufactured home, § 1003.4(a)(30); Comment 4(a)(30)-6 The dwelling related to the property identified is a manufactured home community that is a multifamily dwelling,

Comment 4(a)(30)-4; Comment 4(a)(30)-6 A location for the manufactured home related to a covered loan or application has not been identified,

§ 1003.4(a)(30); Comment 4(a)(9)-5

Multifamily Affordable Units

Covered loans or applications where the property securing the covered loan or, in the case of an application, proposed to secure the covered loan is not a multifamily dwelling, § 1003.4(a)(32); Comment 4(a)(32)-6

Submission of Application Purchased covered loans, § 1003.4(a)(33)

Initially Payable to Your Institution

Purchased covered loans, § 1003.4(a)(33); Applications that were withdrawn, denied, or closed for incompleteness, if the institution had not determined

whether the covered loans would have been initially payable to the institution reporting the applications, Comment 4(a)(33)(ii)-2

Mortgage Loan Originator NMLSR Identifier

Covered loans or applications in which the mortgage loan originator is not required to obtain and has not been assigned an NMLSR identifier, Comment 4(a)(34)-2




Automated Underwriting System (AUS)

Purchased covered loans, § 1003.4(a)(35); Comment 4(a)(35)-5; Transactions for which an AUS was not used to evaluate the application, Comment 4(a)(35)-4; Covered loans or applications when applicant and co-applicant are not natural persons, Comment 4(a)(35)-6

a Note: The content in this chart is intended to provide guidance concerning when certain information is reported as not applicable under Regulation C, as

amended by the HMDA Rule. Additionally, how to report “not applicable” may vary depending on the data point. For example, a financial institution may be

instructed to enter “NA”, or enter a specific number value.

b The following data points should always be reported (i.e., items in this list should never be reported as “Not Applicable”): Universal Loan Identifier, Loan Type,

Loan Purpose, Preapproval, Construction Method, Occupancy Type, Loan Amount, Action Taken, Action Taken Date, Lien Status, Balloon Payment, Interest-Only

Payments, Negative Amortization, Other Non-Amortizing Features, Total Units, Reverse Mortgage, Open-End Line of Credit, and Business or Commercial Purpose.

This chart summarizes requirements under HMDA and Regulation C, and does not itself establish any binding obligations. It is intended only to act as a reference

and not as a substitute for the regulation or its official commentary. Always consult the regulation text and official commentary for a complete understanding of

the law.