During the loan application and underwriting process, loan officers often encounter different income amounts. For example, there could be the income stated on the loan application and income taken from the applicant’s tax return. A loan officer may also adjust one or more of these amounts. Ultimately, HMDA wants to know what income was relied upon to make the credit decision. Thus, it’s important to have loan officers notate either in the loan file or on a HMDA input worksheet what income they relied upon.
David explains more in the video.
Published 2026/03/17