CFPB HMDA Platform???

Posted By: J_G

CFPB HMDA Platform??? - 04/29/17 08:32 PM

Hi all. I need to file for the 1st quarter and I know we now do this through the CFPB with their HMDA Platform. I have found the formatting tool, but where do I register for the HMDA Platform?? I cannot find a link. Please help! Thanks!
Posted By: Truffle Royale

Re: CFPB HMDA Platform??? - 05/01/17 02:16 PM

I had the same question and came to the conclusion that you can't 'file' it. And actually, uploading to the old system didn't 'file' your HMDA either.
According to the GIR, all you have to do is be able to produce a LAR. So if you can pull one from your LOS, you should be good to go.
Posted By: raitchjay

Re: CFPB HMDA Platform??? - 05/01/17 02:30 PM

The HMDA platform isn't ready yet...i don't think.
Posted By: J_G

Re: CFPB HMDA Platform??? - 05/01/17 04:06 PM

So can the formatting tool excel sheet not be considered our "working LAR"???
Posted By: Truffle Royale

Re: CFPB HMDA Platform??? - 05/01/17 04:16 PM

I wouldn't know, JLG.
The whole idea was explained to me by FRB that, if an examiner walked in and said 'Give me your LAR for this year so far' you could produce one.
This year is such a mess that whether the LAR is pulled from your LOS or put through the formatting tool is totally up in the air, imho.
The formatting tool is touted as being '...for filers who do not use vendors or software'. So I'm loathe to try to use it when I know my software will give me a properly formatted LAR, just not till later this year.
Posted By: raitchjay

Re: CFPB HMDA Platform??? - 05/01/17 04:31 PM

But you're going to have to go to the HMDA platform to submit your LAR....right?
Posted By: raitchjay

Re: CFPB HMDA Platform??? - 05/01/17 04:31 PM

Originally Posted By JLG
So can the formatting tool excel sheet not be considered our "working LAR"???


That's the way i'm looking at it.
Posted By: Truffle Royale

Re: CFPB HMDA Platform??? - 05/01/17 05:09 PM

I was just speaking to the first quarter LAR that JLG was trying to upload, raitchjay.
There's no place to upload to and there's no requirement to run entries through the formatting tool.
At this point, I'm scrubbing the first quarter and relying on the ability to pull the LAR from my LOS if an examiner walks in the door and asks for it.
Posted By: raitchjay

Re: CFPB HMDA Platform??? - 05/01/17 05:10 PM

Right, right, i get all that....i'm looking ahead to actually submitting it next February.