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#2204269 - 01/29/19 04:56 PM Re: Small Filer Exemption (state) newyork
Adam Witmer Offline
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Joined: Sep 2010
Posts: 2,643
Said another way...

1003.4(e) says that Banks and savings associations that are required to report [CRA] data on small business, small farm, and community development lending under regulations that implement the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) shall also collect the information required by paragraph 4(a)(9) of this section for property located outside MSAs and MDs in which the institution has a home or branch office, or outside any MSA.

If a bank is a large CRA reporter, 1003.4(e) of Regulation C says that they must provide BOTH the property address and property location (geocoding), where the property location (geocoding) is otherwise optional if the property is located outside MSAs/MDs where they have a branch. This rule in 1003.4(e) of Regulation C essentially overrides the optional reporting in 1003.4(a) as well as the CFPB interpretive and procedural rules.

The bottom line is that 1003.4(e) says that large CRA reporters must "collect the information required by paragraph 4(a)(9)", which includes both the property address/4(a)(9)(i) and the property location 4(a)(9)(ii).
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Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
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#2205272 - 02/06/19 09:12 PM Re: Small Filer Exemption (state) Adam Witmer
joeball Offline
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joeball
Joined: May 2004
Posts: 170
Bluegrass State
As a small filer, can we voluntarily report the state, county and census tract on each LAR entry instead of just those within our MSA?
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#2205275 - 02/06/19 09:22 PM Re: Small Filer Exemption (state) newyork
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 47,017
Bloomington, IN
Paragraph 4(a)(9)(ii)

1. Optional reporting. Section 1003.4(a)(9)(ii) requires a financial institution to report the State, county, and census tract of the property securing the covered loan or, in the case of an application, proposed to secure the covered loan if the property is located in an MSA or MD in which the financial institution has a home or branch office or if the institution is subject to § 1003.4(e). Section 1003.4(a)(9)(ii)(C) further limits the requirement to report census tract to covered loans secured by or applications proposed to be secured by properties located in counties with a population of more than 30,000 according to the most recent decennial census conducted by the U.S. Census Bureau. For transactions for which State, county, or census tract reporting is not required under § 1003.4(a)(9)(ii) or (e), financial institutions may report that the requirement is not applicable, or they may voluntarily report the State, county, or census tract information.
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#2205283 - 02/06/19 09:30 PM Re: Small Filer Exemption (state) Dan Persfull
joeball Offline
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joeball
Joined: May 2004
Posts: 170
Bluegrass State
So if we report those three fields on all entries, are we still exempt from reporting the street address, city, and zip code?
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#2205294 - 02/06/19 10:58 PM Re: Small Filer Exemption (state) newyork
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
It's my understanding that if you report any of the 4 property location items (for property outside of your MSA), you must report all 4 (street address, city, zip, and state).
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#2205309 - 02/07/19 01:02 PM Re: Small Filer Exemption (state) joeball
Adam Witmer Offline
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Joined: Sep 2010
Posts: 2,643
Originally Posted By joeball
So if we report those three fields on all entries, are we still exempt from reporting the street address, city, and zip code?

Yes, you would still be exempt from reporting the street address, city, and zip code (which are 3 of the 4 fields in the property address data point). Listing all three property location data fields (including state) does not automatically void your exemption for the 3 other property address fields. This explanation comes from the Validity Edit V-709 from the FIG:

"1) If Street Address, City, or Zip Code is reported Exempt, then all three must be reported Exempt."

As you can see, this edit is not triggered if you list the state, which is (also) part of the property location data point.

That said, your HMDA software may take a more conservative approach and require reporting for all property address fields, but I don't see that as a requirement based on V-709.
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Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
www.compliancecohort.com

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#2205317 - 02/07/19 02:03 PM Re: Small Filer Exemption (state) newyork
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Thanks for correcting this Adam. I misunderstood the question and provided inaccurate info. I tried editing/deleting my last post, but it won't allow me. I wanted to remove it so it didn't confuse anyone.
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David Dickinson
http://www.bankerscompliance.com

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