Received a edit report concerning the reporting of MSAs. In 2010 we purchased a branch (building along with loans and deposits) in a different MSA than where our main office is located. Previously if the loans were not in our MSA I reported NA for all of the geocoding information. For 2010 I reported the exact geocoding for all loans, no NAs were reported.

Our secondary market area had taken an application where the property was actually located out of our state and I reported that particular geocode information. Should I have reported as NA? Maybe that is the one that is causing the Q595 edit...

BUT, I just also noticed that on the report the heading shows "MSA/MD NOT ON REPORTER'S PANEL". What is this referring to?

HELP...............

One of my clients got this edit the other day. They had to call - and their panel of MSAs had to be revised. Then the bank resubmitted. They also had new purchased branches and were reporting the combined entity. It was taken care of quickly.

I can understand having to update our panel(?) due to purchasing a branch outside of our previous MSA, but should I have reported the geocode information (MSA,State,County & Census Tract) for the loan located in another state where we don't have an office?

I am thinking maybe I should report as NA and resubmit my data?

That should not generate an error unless your geocoding is incorrect. Many banks just geocode it all and submit.

I always report NA for loans outside of my lone MSA. Trust me, you don't want to leave yourself open for errors if you don't have to report the information.

It's your option whether to report NA or the Census information for those loans.

The edit report asks if you have offices in those MSA's. Simply mark no and fax it back. I've never encountered a problem by doing so.

In some banks/processes that is more work that getting the geocoding correct. It is a bank by bank, process by process decision of what works best for you.

We need counties entered to prepare docs, etc., and that pulls into my LAR. I find the global edit on the HDMA Data Entry software is a marvelous tool for eliminating the extra codes, thereby narrowing my margin for error.

FWIW, we report geocodes on all loans. Like Dan said, just verify that you do not have a branch in that state and you will be fine. We do this all the time. I had about 7 on this report.

same here, SMQ. No problems.

Let's just say that my not coding everything was a lesson learned the hard way. Now I only report what I HAVE to report. Makes for a much quicker exam too when addresses don't have to be verified against geocoding submitted.

<--- also CRA reporter. We don't get a choice.

^^^there is that. No CRA here so I forgot about that aspect. Thanks for tossing it in the discussion, Becca.

From the way the instructions read, I fax the sheet back in showing that I do not have an office for the out of state application, then for the other MSA I just mark that we do have an office in that area now.

Do I wait to receive the IRS form back before I fax everything else back in?

Sorry, I have been really confused over this.

If you circled yes to any MSA on the Q595 report, you should wait for a revised IRS.

You need to get the missing office straightened out before resubmitting. Otherwise, you will just be in a loop, getting the same edit back again.

I apologize for showing up late for this discussion, but we just got this edit. When they ask if we have an office, are they referring to a branch office? Or are they referring to a loan office ie Loan originator

See the definition of a branch on page 5 of the GIR.

Thank you Dan.