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HMDA Checklist and Data Collection

Sarah D. Scott, VP Compliance & CRA at Heritage Oaks Bank provided BOL with two tools she developed for her bank for HMDA.The HMDA Data Collection Form, and a template for tracking HMDA records and problems.Her bank was having HMDA errors and they were trying to drill down and figure out who was making them, and what type of errors were being made repeatedly.

The chart is set up so that each loan can be entered, along with the names of the lender (loan officer) originating the loan and the loan processor.If there is something wrong with a particular data item, they mark the box with an "X".If there is a problem with documentation, they mark the box with a "??".On the main page, the errors tally by loan.However, there are also two other tabs with pivot tables, and they are able to determine how many errors or loan documentation problems there are for each lender and processor.(The names on the template are there for demonstration purposes.)

First published on 03/01/2013

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