I reached out the the CFPB HMDA Help and they did not even address the edit below which was my question.

Does anyone else report only the income and not the demographic information and if so what are you doing about the V edit?

To the HMDA Help at the CFPB:

In the past we have chosen to report the income of the applicant/co-applicant for purchased loans and not to report the demographic government monitoring information reporting it as NA. This is allowed by the regulation per the staff commentary below:

INCOME DATA—PURCHASED LOANS.
A financial institution complies with § 1003.4(a)(10)(iii) by reporting that the requirement is not applicable when reporting a purchased covered loan for which the institution chooses not to report the income.

The problem this is causing is related to a new V edit – Edit V655 –

The edit believes the income must be NA when in fact an income value is valid. The regulation allows for you to report income and not the demographic data and we don’t believe this to have been changed. Because this is a V edit we are afraid when it is time to submit our data it will be rejected. Can you please confirm the option to report income and not demographic information is still available to institutions and if so will the edit be adjusted? Thank you in advance.

Can you please confirm the option to report income and not demographic information is still available to institutions and if so will the edit be adjusted?

Yes - but your guess is as good as anyone else's.