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#2211496 - 04/18/19 01:28 PM HMDA Purchased Loan Data Reporting
Chelsea C Offline
New Poster
Joined: Nov 2018
Posts: 14
Our institution recently purchased a HMDA reportable mortgage loan and is questioning what data to report. I know the Reg speaks to not requiring income, race, sex, ethnicity, and age, but if we have the information should we report it? It says it's "optional" but are we doing more harm if we report when it's not needed or if we don't report if we have the information?

I also know the key to HMDA is consistency, but we can't build a process until we decide how to handle this one.

Thank you!

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#2211520 - 04/18/19 03:38 PM Re: HMDA Purchased Loan Data Reporting Chelsea C
Rocky P Online
Power Poster
Joined: Jun 2003
Posts: 7,644
I've been of the opinion to report what is mandatory.

Can be an issue if there was something incorrectly reported
Loan might be included in lending analysis
Integrity. With it, nothing else matters. Without it, nothing else matters.

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