We are new to HMDA and are trying to figure out how to do this logistically. Do you collect and maintain the information manually (Loan officers submit a worksheet and then info is put into something like an excel spreadsheet?) or Does your processor pull the info from your application? How do you actually submit the information or what format does it need to be in? Any help on this is greatly appreciated!

How large is your FI? Roughly how many HMDA loans would you be dealing with?
The FFIEC offers free software to house and help submit your data.
Our FI only has a few hundred HMDA entries and we use CRAWiz. Our CRA/HMDA Data Manager reviews all the booked loans and manually enters the data.

Our loan processing system produces the LAR which we import into either Excel to pivot and scrub or the FFIEC free software to submit. I find the less times I rely on humans to transfer info from application to form to system, etc., the fewer the errors.

Average around 1500-2000 loans on my LAR and one that hit 4422. If this year keeps going strong on refis, I may have another.

We're a small FI and this is our first quarter compiling HMDA data. We are using a manual (paper) tool to capture data begining at time of application (see BankersOnline Compliance Tools for HMDA Input Reporting Worksheet samples). This follows the file thru processing. Seems to be work well for us, but our volume is low - probably 10 reportable transactions so far.

We are a smaller institution, so I am guessing there may be just a few hundred on the LAR. Right now we are utilizing one of the worksheets and then the Loan Officers are forwarding those to our Loan Processors to input the information into an excel spreadsheet. I am concerned about errors in "transferring" the information. Is the FFIEC software for submission only? or can it be used to update with each new loan app? Also, how do you do your "review" of the LAR, have you found an easy process or steps to take?

We currently have banker's submit HMDA data to us on a worksheet, then I enter it into the FFIEC software manually. It's not just for submitting. To review my LAR, I export it from the software into an excel spreadsheet, and do Pivot Tables. That's the easiest way I have found.

I am concerned about errors in "transferring" the information That's why I download the info from our processing system. It's what they're using to produce closing docs so it's been checked at least once. Besides no one is manually transferring it to paper while getting interrupted by a phone call, etc.

Is the FFIEC software for submission only? yes or can it be used to update with each new loan app? yes but I would advise against letting numerous people into this system. imo, you need control of this because it will be your FINAL submission.

Also, how do you do your "review" of the LAR, have you found an easy process or steps to take? Excel pivot tables are the easiest, best way I've found. It was taught to me by my FRB examiner and it's what they use to pivot your LAR when they get it. Seach 'pivot' in this forum and you'll find plenty of info on it.

We average 700-900 LAR entries per year and use CRAWiz. My method:
1. Loan staff enter LAR data into shared Excel spreadsheet
2. Once per month that spreadsheet is downloaded into Wiz and compared against a loan system query to ensure "complete capture"
3. Wiz LAR is verified/scrubbed against actual loan docs by moi. I'm a control freak like that.
4. Quarterly sample is proofed by my boss
5. Annual sample is proofed by me prior to submission

We've now had two exams with 100% data integrity. Being a control freak is good.

We avg 300-600 records. Since I am a total control freak on this (which means I don't trust the lenders to get it right); my asst and I look at every file and input the data into CTP (Census Traks Plus). We can export for pivot tables, examiners, etc. Asst. reviews file and does input to CTP (she is still learning) and then I double check both file and CTP.

CTP checks data and prepares for submission. We had CRA Wiz for a few years and it is extremely powerful, however, it is a little pricey and we weren't really utilizing it like we should have.

I think OCD is a job requirement for HMDA Officer.