HMDA retention

Posted By: CompQueen

HMDA retention - 03/08/07 12:21 AM

I am trying to find out the retention for the supporting data have for my yearly HMDA submissions(i.e., copies of the LAR from throughout the year that I used to do my edit checking and the Edit reports showing my verifications of the errors).

I know that I am required to keep my LAR 3 years and my disclosures for 5 years but I could not find anything about this information. I am thinking 3 years as that is what I retain my actual LAR for.

Any thoughts would be helpful.
Posted By: sue's mom

Re: HMDA retention - 03/08/07 01:22 PM

I believe the time for all HMDA related data is 5 years.
Posted By: RR Becca

Re: HMDA retention - 03/08/07 01:39 PM

Here's the answers I got when I asked this question over in the CRA forum
Posted By: CompQueen

Re: HMDA retention - 03/08/07 04:47 PM

Thank you for your quick responses.
Posted By: #12

Re: HMDA retention - 03/26/08 06:43 PM

Ok, I know this thread is 1 year old, but I was wondering if someone can cite the "everything related to HMDA is kept for 5 years" rule. I understand the disclosure statements need to be kept for 5 years, but I can't find where the supporting documentation for LAR submissions needs to be kept that long.
Posted By: Dan Persfull

Re: HMDA retention - 03/26/08 07:04 PM

I only keep my supporting documentation and worksheets for the LAR from the last compliance exam date.

I do however keep my documentation for LAR submission, i.e. a copy of my submission email, the HMDA acceptance email, the edit report, the IRS and the confirmation sheet with that year's submission.
Posted By: #12

Re: HMDA retention - 03/26/08 07:09 PM

Thanks Dan...that's what I was considering doing, just wanted to make sure I was reading the reg correctly.