Skip to content
GeoDataVision
Thread Options
#2258562 - 08/23/21 08:24 PM HMDA Reportable Income & DTI when Negative Income?
Help! Compliance Offline
Member
Joined: Oct 2012
Posts: 90
San Antonio, TX
When the income amount reported on the HMDA LAR is negative, what is the reportable HMDA Income Amount and DTI? Do they both remain negative, or is income converted to 0 and DTI to NA? Thanks for your feedback...

Return to Top
HMDA

   
HMDA Academy
#2258586 - 08/24/21 02:43 PM Re: HMDA Reportable Income & DTI when Negative Income? Help! Compliance
Inherent_Risk Offline
Gold Star
Joined: Jan 2017
Posts: 375
Report what you relied on. If it's negative, it's negative. Old HMDA generally held that gross income can't be negative, but new HMDA say's it's ok.

"Finally, the Bureau notes that the 2015 HMDA Final Rule and the 2018 FIG do not include any language that would bar a financial institution from reporting an applicant's gross annual income as “0” or even a negative number when that is the accurate figure that it relied on."

Return to Top
#2258588 - 08/24/21 02:50 PM Re: HMDA Reportable Income & DTI when Negative Income? Inherent_Risk
Help! Compliance Offline
Member
Joined: Oct 2012
Posts: 90
San Antonio, TX
So negative DTI is okay as well then?

Return to Top

Moderator:  SMQ, CRCM