HMDA: Common Data Field Errors – Part 1
HMDA compliance is tough! With all the data you are required to collect and report, there are bound to be mistakes. Too many errors (and the threshold is very low) can lead to having to resubmit your data and even civil money penalties. You don’t want that! Taking the time to scrub your 2024 HMDA data before you submit it in 2025, will save you a lot of headaches but it can be daunting especially if you have a lot of entries. Knowing which data fields are likely to trip you up can help. The application date, loan purpose, occupancy type and loan amount are just a few to watch out for.
David explains more in the video.
2024/12/04
David Dickinson
David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.
He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.
David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.