HMDA Demographic Information: Don’t Touch It!

When an applicant completes their demographic information, we like to tell financial institutions to use the MC Hammer Rule aka “Can’t touch this!”  An applicant is free to mark whatever boxes they want, whether you feel what they marked is correct or not.  It is not for you to decide.  

David explains more in the video.

Video Highlights:

• Your HMDA-LAR should report whatever an applicant marks for their demographic information.
• Don’t coach applicants on what to mark or not mark on their applications.
• Adopt a motto of "I don't care," applicants can be anything they want when completing their demographic information.

Published
2023/03/27