Our HMDA exam begins on Monday and the lead examiner is out of Chicago (FDIC). She stated that there are only two examiners in the region qualified to do HMDA Data Integrity. Does anyone have any recent experience with one of these - and did your examiner come out of Chicago. We have to others joining her from Lexington.
#1943316 - 07/21/1401:13 PMRe: HMDA Data Integrity Exam Skittles
MarieR
Platinum Poster
Joined: Nov 2005
Posts: 614
Our HMDA validation was done in April by someone out of Elizabethtown, with 2 trainees with him. Is a HMDA exam different? During the validation they reviewed policies, procedures, and such.
#1943488 - 07/21/1405:12 PMRe: HMDA Data Integrity Exam Skittles
MarieR
Platinum Poster
Joined: Nov 2005
Posts: 614
If it makes you feel any better, I know that the FDIC recently lost a couple of examiners going to banks and they are behind as a result. Our exam had to be pushed back.
We had to two examiner from Chicago do our HMDA validation last fall. They were nice. There were a few things we went back and forth on with them. We thought we were going to have a lot of issue based on initial conversations with the ladies but it turned out to be a missunderstanding between us all. We ended up with just a couple line errors.
Ours went very well. We learned a lot last time about retaining documentation to show where we gathered information (income, geocoding, etc.). That helped tremendously - and we'll enhance that somewhat going forward.
Our HMDA validation was in January. They were from E-Town. They were actually extremely nice - only qualm was that we were notified just before Christmas and you know how it goes with people taking time off then.
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Our past EIC (not HMDA validators) said at a previous bank examination the bank had HMDA proof sheets and corresponding documentation assembled on top of every loan sampled. The examiners relied on that documentation and didn't even have to crack a loan file. He said it was one of the fast HMDA validations he had ever done. We are planning on doing this during our next exam.
All of our files are imaged so there were no hard files to pull. We sat them at three computers. Any questions they had I had supporting documentation in my office.