
Looking for Clarity on Whether You Need to Collect HMDA Data?
There are a lot of questions about HMDA data collection requirements these days. Here are the four questions to ask yourself when it comes to deciding if you need to collect HMDA data. If you meet all four criteria, you must collect and report. If you don't, congrats – you're exempt. If you are required to collect and report, there are partial exemptions available depending on the number of closed-end mortgage loans or open-end lines of credit you originate. Get the straight scoop here. [2/19/20]