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#2255955 - 06/25/21 03:02 PM Should we refile HMDA?
Anonymous
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Doing a HMDA review.....found 4 withdrawn files from 2020 that were not scanned into our system until March 2021....so they have just now been identified....

Should we refile for 4 files OR document the lessons learned and how it will be avoided in the future and move on???

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#2255956 - 06/25/21 03:04 PM Re: Should we refile HMDA? Anonymous
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,032
Galveston, TX
How many entries on your 2020 LAR?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2255957 - 06/25/21 03:09 PM Re: Should we refile HMDA? Anonymous
Anonymous
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For 2020.... 1470 entries

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#2255958 - 06/25/21 03:16 PM Re: Should we refile HMDA? Anonymous
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,032
Galveston, TX
So it depends if you and your regulator can live with a .272% reporting error rate.

https://files.consumerfinance.gov/f...miner-transaction-testing-guidelines.pdf
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#2255959 - 06/25/21 03:20 PM Re: Should we refile HMDA? Anonymous
Anonymous
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Thanks for that insight, Randy!!!

The exam procedures allow a 5.1% error rate for each field so I think we'll just document.....

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