HMDA Demographic Information

If you are an HMDA reporting bank, you know all too well that collecting Demographic Information (race, sex, ethnicity) can sometimes be a lot more difficult than meets the eye. There are a lot of dos and don’ts and each application or applicant can present its own set of challenges. For instance, when an application is taken by mail, online, etc. and the applicant does not mark the “I do not wish to provide” box but also leaves their demographic information blank, what do you do?

David explains more in the video.

 

HMDA Resources!

Video Highlights:

  • If the information is left blank, you want the applicant to “shut the door”.
  • If an applicant is seen in person during the application process, they must be asked for the information again.
  • Collecting the information at closing is not recommended as it skews results in a negative way when looking at closed loans vs. non-closed loans.

Published
2023/03/01
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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