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Rounding When Reporting On LAR (HMDA)

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We have a loan for $3,372,000 that is HMDA reportable and we are going back and forth on how this should be rounded. Do we report 3400 or 3372 on the LAR?

You round to the nearest $1,000, not $100,000.

7. Loan Amount. Enter the amount of the loan or application. Do not report loans below $500. Show the amount in thousands, rounding to the nearest thousand (round $500 up to the next $1,000). For example, a loan for $167,300 should be entered as 167 and one for $15,500 as 16.


Editor's Note: This question was answered in 2017. The HMDA LAR instructions have changed since then to require that the actual loan amount (not the amount in thousands) be entered: Under current rules, the entry for this loan would be 3372000.

First published on 03/10/2019

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