Posted By: Anonymous
HMDA LAR Submission - 02/10/22 03:12 PM
Does anyone submit the HMDA LAR without correcting quality or validity errors? Or addressing the group edits?
Posted By: Inherent_Risk
Re: HMDA LAR Submission - 02/10/22 04:06 PM
Can't submit without addressing validity errors. We look at all quality and group edits as well. Not necessarily going back to file (for example we have lots of 2nd liens over $250K that we don't look at individually), but at least reviewing them.
Posted By: Anonymous
Re: HMDA LAR Submission - 02/10/22 04:11 PM
Okay that is what I thought. I am concerned it looks like we have submitted our LAR multiples times in the past without correcting or verifying any but we have not gotten cited and we just had an FDIC Exam. I have only been here for a few months but nothing was mentioned as a concern for HMDA.
One of the errors in group edits is definitely one that needs to be addressed and they never have.