Hi-

Another question on HMDA. I identified some loans that weren't reported on the LAR before submission. They (loan people) are in the process of correcting and re-sending.
Is it considered a violation of law because the loans were not reported on the LAR withing 30 days of the "Action Taken" date?

Any info is appreciated. I am also posting in the compliance section.

Jenny

If you look at §203.4(a) you will see that these need to be on the LAR within 30 calendar days of the quarter end in which the final action was taken. It isn't just triggered on the date the final action was taken.

I've looked everywhere and can not find an example of HMDA Policy & Procedures. I even have our auditors checking and they have not come up with anything. HELP! Any generous soul out there who will share?

We don't have a HMDA policy...as far as procedures go, we basically created them by going through the HMDA Getting It Right guide found at www.ffiec.gov..click on the HMDA section and then pull up the guide.

I sure could use an example of HMDA Policy and Procedures, or anything that someone would be willing to share!!