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#2122647 - 03/20/17 03:29 PM Nationstar Mortgage - HMDA Penalty
Anonymous
Unregistered

Can someone please clarify what the CFPB means by the following quote:

It also produced discrepancies by failing to consistently define data among its various lines of business...

Thanks

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#2122649 - 03/20/17 03:30 PM Re: Nationstar Mortgage - HMDA Penalty Anonymous
Anonymous
Unregistered


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#2122678 - 03/20/17 04:55 PM Re: Nationstar Mortgage - HMDA Penalty Anonymous
Amandak Offline
Member
Joined: Jul 2013
Posts: 80
Wisconsin
Originally Posted By Anonymous
Can someone please clarify what the CFPB means by the following quote:

It also produced discrepancies by failing to consistently define data among its various lines of business...

Thanks


It could be something like they did not have a consistent practice for a field. Take the date action taken field we consistently use the date funds were disbursed but some banks may use date the loan closed. Which ever you use you need to be consistent.

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#2122712 - 03/20/17 06:35 PM Re: Nationstar Mortgage - HMDA Penalty Anonymous
Darth HMDA, CRCM, CAMS Offline
Diamond Poster
Darth HMDA, CRCM, CAMS
Joined: Dec 2013
Posts: 1,387
CA
That's my guess as well - different areas handled the grey areas differently (which is ok across lines of business so long as they are well documented in procedures).
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The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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