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We've filed our HMDA LAR - what next?
by Len Suzio
Question: Now that we've filed our HMDA LAR is there anything else I must do before putting the file "on the shelf"?
Answer: Under the revised HMDA regulations a bank must make a modified version of the LAR in electronic or printed format available by March 31, for requests received before March 1, and within 30 days of receipt of a request thereafter. The modifications require the expurgation of the application or loan number, the date the application was received and the date action was taken. No other information can be deleted.
GeoDataVision
GeoDataVision uses GIS (Geographic Information Science) and relational database technology to help community bankers with compliance and marketing needs. GDV offers maps that depict census tract demographics, HMDA and CRA loan distribution and depository data. GDV distributes HMDA and CRA Loan Databases (CRA Benchmark Data) organized to facilitate Market Rank and Market Share Analysis and key borrower characteristics for compliance and marketing applications. GDV also provides banks CRA exam preparation and CRA self-monitoring services. Please contact Lensuzio@geodatavision.com or call 203-237-1332 or visit our Web site: www.geodatavision.com
First published on BankersOnline.com 3/21/05
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