CFPB Releases HMDA FIG for 2021
The CFPB has released a Filing Instructions Guide (FIG) for HMDA data collected in 2021.
Looking to 2021 already may be a bit overwhelming, but the good news here is that there aren’t any real significant changes for collecting and reporting data in 2021. There are a couple of things to be aware of, however, if you’re a large filer:
- A code was added under the Automated Underwriting System (AUS) data field for “Internal Proprietary System”
- When reporting NMLS #’s, do not include zeros not part of the NMLSR ID (e.g., if the NMLSR ID is 64573, it should be entered as 64573, not 00064573).
There will be also be some new, clarified and revised edits for 2021, including a couple to help ensure proper use of “1111” as an “Exempt” code and to help ensure the NMLSR ID is valid and not entered as a zero.
The CFPB also issued an updated Supplemental Guide for Quarterly Filers for 2021 to update key filing dates for quarterly reporters.
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Published
2020/09/11
Amy Kudlacek
Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!