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Consequences of Sending our Annual HMDA LAR Late?

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What are the consequences of sending our annual HMDA LAR late? I am new to this realm of lending. Who do I talk to, to discuss why it is late and does it help that we have never been late in the past?

Only your primary regulator could tell you how and what they might penalize you for late filing. In recent years they have not been too kind. In the mean time, I would be gathering all the information I could as to why it was late and establish solid procedures to prevent it from happening again.

First published on 05/09/2021

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