HMDA Sheet (Physical Copy)

Posted By: referwithcaution

HMDA Sheet (Physical Copy) - 05/31/22 03:11 PM

My Organization uses the software Encompass to do our Consumer Mortgage work. I pull a physical copy of a HMDA information sheet from it with pre-populated data in accordance with the borrower/co-borrower. However, there are only a handful of points on this sheet.

I/my organization wants more points on the paper for checking during the review process. What recommendations or formats do you use for HMDA reviewing? My email (personal) is:

Any help is appreciated.
Posted By: Dan Persfull

Re: HMDA Sheet (Physical Copy) - 05/31/22 05:36 PM

We don't use the HMDA module in Encompass and I have no idea how it works so these are just random thoughts.

Do you have the HMDA module set-up to populate the information? If not, are the loan processors completing the HMDA Information form or are they just letting Encompass populate it?

If the HMDA module is not activated - then several of the fields on the HMDA Information form has to be manually entered.

You need to 1) contact Encompass support to find out what you need to do to have the HMDA Information form auto-populated, 2) have the loan processor manually complete the information.
Posted By: referwithcaution

Re: HMDA Sheet (Physical Copy) - 06/01/22 01:28 PM

We have the Module set up (I believe). I am charged with reviewing the data for each application and part of the form is populated by the system (processors or originators) and I check the rest of the data. It is a small sheet, with very little data on it. I was hoping for something more substantial to cover more ground so to speak.
Posted By: Dan Persfull

Re: HMDA Sheet (Physical Copy) - 06/01/22 04:03 PM

Again I'm not familiar with how that section works. If you go to the the tools section and scroll down to the HMDA Information form it has all the necessary information for completing the LAR. Certain fields just do not auto-populate and you most likely will have to work with Encompass to learn what needs to be done to get them to do so, or that may be an option that is not available.

Maybe another Encompass user with a working knowledge for that form in Encompass will chime in.
Posted By: Truffle Royale

Re: HMDA Sheet (Physical Copy) - 06/27/22 02:45 PM

Are you exporting from Encompass to whatever HMDA reporting software you use to submit the LAR? We use QuestSoft and that's where I do my scrubbing. I compare the info there to the application and the various other docs in the file where the 110 bits of data that have to be reported reside. A paper form, imho, is something that can get mismarked and shouldn't be relied on.