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HMDA data must be scrubbed

Answered by: 

Question: 
I read about HMDA data problems with Freedom Mortgage. What was the real issue?
Answer: 

Freedom Mortgage submitted erroneous HMDA data, particularly the GMI. The CFPB claimed it was reported incorrectly and on an intentional basis in many cases. Among other things this lead to a $1.75 million penalty.
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First published on 05/15/2022

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