HMDA Data: Loan Amount

If your financial institution is subject to HMDA, you know all too well just how little room there is for error. If you have too many, you could find yourself having to scrub and resubmit your HMDA-LAR. A small filer isn’t required to report as many data fields as a large filer which can be beneficial since there are less fields to mess up, but what you do report still needs to be as accurate as possible. One data field that is required to be reported for both small and large filers is the Loan Amount. While you might think it would be difficult to mess this up, we see errors more than you may realize. When reporting the loan amount one key thing to remember is that you do not round. You report the actual amount to the penny. That’s easy enough for a loan that is originated but not all applications are originated.

David explains more in the video.


HMDA Resources!

Published
2024/03/15

 
David Dickinson

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.

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