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#156536 - 02/04/04 03:56 PM Geo Coding
Anonymous
Unregistered

On the website for the FFIEC it states that the Geo Coding Info will not be updated until the end of the first quarter. I received information from PCI that states the FFIEC will not update this site until the end of the fourth quarter. Does anyone have a good website to get this information from?

Thank you in advance.

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Lending Compliance
#156537 - 02/04/04 04:14 PM Re: Geo Coding
starfish Offline
Gold Star
starfish
Joined: Jun 2003
Posts: 416
Seattle
In the new 2004 edition of "A Guide to HMDA- Getting it Right", you can find the new MSA/MD numbers in Appendix F. To get a copy of this guide, go to www.ffiec.gov and click on the HMDA section.

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#156538 - 02/05/04 07:22 PM Re: Geo Coding
Anonymous
Unregistered

To: Original Poster

Do you mean the MSA's or the census tract numbers?

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#156539 - 02/12/04 04:22 PM Re: Geo Coding
Anonymous
Unregistered

This is not the original poster but I was wondering if someone could enlighten me about what FFIEC is changing with their update.
Is it only the MA (fka MSA) codes that will change? If that is the case, then can we continue to use the census tract #'s from the site but use the MA codes from Appendix F?
What company is anyone else using (besides PCI) for this service? Any recommendations? We are thinking about switching.

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#156540 - 02/12/04 05:03 PM Re: Geo Coding
Tillie Offline
Gold Star
Tillie
Joined: Apr 2003
Posts: 266
We are using PCI.
I understood that the MSA codes were the only changes for geocoding - changing from four digits to five digits.
Anyone else have anything to add?

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#156541 - 02/12/04 08:40 PM Re: Geo Coding
Bartman Offline
Diamond Poster
Bartman
Joined: Oct 2000
Posts: 1,191
Springfield
My understanding is that the FFIEC website will be updated later this quarter to bring the MA numbers in line with the 2004 5-digit expectation.

The 4th quarter change the prior poster referred to will be the census tract income levels - changes that resulted from the rearrangement of MSAs into MAs effective 1-1-04. The net effect to the FFIEC website towards year-end will be that you can click on the "get tract information" bar and get up-to-date census tract data, including income level.

PCi has been very careful to state that they're using a formula to arrive at estimated incomes for each tract, for users of their products.

Hope that helps -
_________________________
Opinions are Bartman's, not those of my employer. "A noble spirit embiggens the smallest man."

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#156542 - 02/12/04 10:00 PM Re: Geo Coding
Anonymous
Unregistered

What my people are asking is this - will they need to re-enter any data to the LAR software once FFIEC updates the income levels later this year?

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#156543 - 02/13/04 06:26 PM Re: Geo Coding
Bartman Offline
Diamond Poster
Bartman
Joined: Oct 2000
Posts: 1,191
Springfield
Tough to answer because I don't know what you're entering in the MA field currently. If you're entering a 5-digit MA code, and the source of that data is in line with the appendix to HMDA-Getting It Right for 2004, you're most likely OK.

If, though, you're entering a 4-digit MA code (not even sure if your data entry software will allow that), then you can expect to re-enter.

I'm in Michigan, and we lend in maybe a dozen counties on the west side of the state. We built a conversion table based on county code, using the 2004 Getting It Right guide. Data entry staff know which county results in what MA code - I'm not expecting any re-entry issues from this.
_________________________
Opinions are Bartman's, not those of my employer. "A noble spirit embiggens the smallest man."

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#156544 - 02/14/04 04:29 PM Re: Geo Coding
Anonymous
Unregistered

Actually, we have very few loans with property located in an MA. Most are located in smaller communities.
So if we get the MA correct, we probably won't have to re-enter anything. I'll make a note to review the MA entries after we see the notification that income has been updated.
That should take care of it. Thanks for your help. I was beginning to panic at the thought of having to check everything late in the year.

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