HMDA defines an application as …an oral or written request for a covered loan…. HMDA also requires that you collect demographic information at the time of application. Since applications are received in a variety of ways (face-to-face, mail, phone, etc.), the collection rules can differ. You also must ensure the collected information is reported accurately.
David explains more in the video
To learn more, be sure to JOIN US for our webinar, “HMDA Demographic Information Collection”.
Published
2021/03/18