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#1868335 - 11/05/13 03:34 PM New Regulations for MLO #'s for HMDA?
MMontjoy01 Offline
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MMontjoy01
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NC, USA
I report our HMDA for our institution and in a compliance training class I took that is required yearly I had a question that came to my surprise cause I have not heard anything. So, I am here to see if anybody else has heard anything. In the class it said that the MLO # is required to be reported for HMDA. I got it wrong cause I put that it was not required. Is there a new regulation out there that I am unaware of that this is now required to put the MLO # in the LAR? My LAR still looks the same. Thank you for any help!

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#1868337 - 11/05/13 03:38 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
JWills, CRCM Offline
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My LAR still looks the same. Maybe it is one of the many changes that are supposed to be coming.
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#1868346 - 11/05/13 03:43 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
MMontjoy01 Offline
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Thanks JWills! I would not be surprised by that at all! :-)

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#1868358 - 11/05/13 03:54 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
JWills, CRCM Offline
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smile
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#1868363 - 11/05/13 03:57 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
JWills, CRCM Offline
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Originally Posted By: MMontjoy01
Thanks JWills! I would not be surprised by that at all! :-)


I just went to the FFIEC website to look for any news, and they do have the 2014 HMDA file specs out in PDF form, they are the same fields that we are currently using, with the exception of the last item. They are labeling it 'filler' so we don't know.

http://www.ffiec.gov/hmda/pdf/spec2014.pdf
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#1868366 - 11/05/13 04:04 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
MMontjoy01 Offline
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Thank you! I will keep an eye on that.

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#1868460 - 11/05/13 05:26 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
bOaty Offline
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The CFPB has been planning on putting out a proposal on HMDA for about three years or so and they still haven't gotten around to it. The MLO# will be part of the increased number of reportable fields.

Don't worry, they won't slip the MLO# in on you, there will be a host of proposed changes, final rules and proposed changes to the final rules before all is said and done....if they ever get started on them.
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#1868473 - 11/05/13 05:38 PM Re: New Regulations for MLO #'s for HMDA? bOaty
JWills, CRCM Offline
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I know it has been awhile. Back in 2011 I attended a seminar on 'Upcoming HMDA Changes' and so far they haven't surfaced. Keep our fingers crossed.
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#1868582 - 11/05/13 08:38 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
rlcarey Offline
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in a compliance training class I took that is required yearly

You might want to look for a new training class smile
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#1868625 - 11/05/13 09:44 PM Re: New Regulations for MLO #'s for HMDA? MMontjoy01
MMontjoy01 Offline
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Joined: Apr 2008
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NC, USA
Thanks everybody! I am totally with you Carey. I did screen prints to our compliance department. We switched to this group this year and I have found a lot of other errors. This is not the first.

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