If you are a “small filer” for HMDA, there is a lot of data you are not required to report. The credit score, origination charges, interest rate, debt-to-income ratio, loan term, property value, etc. are just a few of many. But you do still have to be careful as there are some fields, like the credit score, where if you voluntarily report it, you must provide ALL of the related data included within that section. For example, if you voluntarily report the credit score of one applicant, you must also report the scoring model used. You also have to ensure you report those exempt fields correctly. For instance, if it’s a text field you must report the “exempt” or if it's a data field you must report 1111.
David explains more in the video.
Published
2025/02/17