We say it all the time…HMDA is one of the most complicated and challenging compliance regulations. If you are a HMDA-reporting institution, you are well aware just how perfect your data needs to be. The are several ways to mitigate the risk that HMDA presents. First and foremost is training. Lenders don’t know what they don’t know and it’s essential they be trained on a continual, ongoing basis. Second, we like to tell institutions to have a point person or persons (i.e., a HMDA King or HMDA Queen) that are well versed in all things HMDA. HMDA isn’t black and white and it’s very common to run into scenarios that just don’t fit. Having someone to run these situations though will help ensure consistency and that your reporting is as accurate as possible. Third, audit/monitor along the way. Catching errors and inconsistencies upfront can save you a lot of time in the end.
David explains more in the video.
Published
2025/11/24