HMDA Reporting Guide Revision 09.02

Transcription

1 HMDA Reporting Guide Revision 09.02

2 Table of Contents Resources... 3 Custom Reports... 3 HMDA LAR Loan Files Missing Data Report... 3 HMDA LAR Information... 4 HMDA RELIEF - QuestSoft... 4 Legend... 5 Suggested Steps to create your HMDA Report... 5 Exporting the HMDA RELIEF QuestSoft report... 5 Contact Us... 6

3 HMDA Reporting The purpose of this guide is to help you identify the loans required by the HMDA report. Ultimately however, it is your responsibility to complete and review your HMDA report. There are a set of custom reports that you may wish to use to help prepare your loan data for reporting. We also have an Excel file that provides a Legend for determining where to find and set specific fields in Lender s Office. Resources Custom Reports We have put together 3 custom reports to help you with HMDA reporting. They are titled: HMDA LAR Loan Files Missing Data HMDA LAR Information HMDA RELIEF QuestSoft Note: These reports include loan data from the previous year. To pull loan data for the current year, use the corresponding report labeled with "Current Year", e.g. HMDA LAR Information - Current Year. Follow these steps to access these reports: 1. Go to your Lender s Office pipeline. 2. Click the Custom Reports link under the Reporting section. A window pops up. 3. Click the Sample queries tab at the top right. 4. Locate the name of the custom report you would like to run and click the corresponding run link. HMDA LAR Loan Files Missing Data Report Description The HMDA LAR Loan Files Missing Data custom report is designed to help you find loan files that are missing data required for the HMDA Loan Application Register. It is meant to be used in conjunction with the HMDA page of the loan file, and with the "HMDA LAR Information" custom report. Extended Description This report will include any loan files that satisfy BOTH of the following criteria: A. At least one of the required fields listed below is missing Action Taken Lien Status Purchaser Type

4 Action Taken Date MSA Number Rate Spread Census Tract Preapproval Type State Code County Code Property Type Note: There are other fields, such as Denial Reason, which may be required for certain loans but not necessarily for all. This report won t include loan files missing that data unless they are also missing something from the list above. B. At least one of the following events occurred last year o Loan was Opened o Loan was Closed o Status Date The latest Lender s Office status change o Action Taken Date As marked on the HMDA page of the loan file. Example: You have a loan that was Opened during the year BEFORE last year. The State Code field is missing from the loan. In order for the loan to appear on this report, the Status Date, Closed date, and/or Action Taken Date would need to be sometime last year. HMDA LAR Information Description The HMDA LAR Information custom report is designed to be used in conjunction with the HMDA page of the loan file. It is meant to display all the loan files for which action was taken (as indicated by you via the Action Date field of the HMDA page of the loan file) during the previous year. For example, if this report is run in 2009 it will return all loans with "action taken" in the calendar year of The "HMDA LAR Loan Files Missing Data" custom report can help you determine which loan files are missing an action taken date or other necessary data. HMDA RELIEF - QuestSoft Description The HMDA RELIEF - QuestSoft custom report is designed to be used in conjunction with the HMDA page of the loan file. Just like the HMDA LAR Information report, it is meant to display all the loan files for which action was taken (as indicated by you via the Action Date field of the HMDA page of the loan file) during the previous year. For example, if this report is run in 2009 it will return all loans with "action taken" in the calendar year of Extended Description This report includes address data for QuestSoft to do the geocoding. It also includes the APR and rate lock data for QuestSoft to compute the rate spread. If you are using QuestSoft for compliance, geocoding, or spread calculation, we have a convertor that will convert the HMDA RELIEF QuestSoft report to a format that is uploadable to QuestSoft s HMDA

5 Relief application. If you are interested in making use of our convertor, send an to Legend As previously mentioned, you can use our Excel file (titled HMDALegend.xlsx) to help you locate specific fields in Lender s Office and match them up with those specified by the HMDA specifications. You can download the Legend as an Excel file or a PDF using the following links: Excel: PDF: Suggested Steps to create your HMDA Report 1. Review the loan files for which any action was taken during 2008, and fill out the information required for the HMDA LAR. You can use the HMDA LAR Loan Files Missing Data custom report to help generate the list of loans to review. Tip: You can use the HMDA Reporting Guide ( to determine what needs to be reported and how. You can also use our Legend to help locate and set specific fields in Lender s Office. 2. Run the HMDA LAR Information custom report. Click the Export to Excel (csv) button to export the report as a.csv file. 3. Finally, convert the data to the HMDA format. Exporting the HMDA RELIEF QuestSoft report Below are instructions on how to export the "HMDA RELIEF - QuestSoft" Lender's Office report for use in QuestSoft's HMDA Relief application. 1. Review the loan files for which any action was taken during 2008, and fill out the information required for the HMDA LAR. You can use the HMDA LAR Loan Files Missing Data custom report to help generate the list of loans to review. Tip: You can use the HMDA Reporting Guide ( to determine what needs to be reported and how. You can also use our Legend to help locate and set specific fields in Lender's Office. 2. Run the HMDA RELIEF - QuestSoft custom report. 3. Click Export to QuestSoft (csv)... to export the report in the proper QuestSoft format.

6 4. If there are any errors regarding individual loan files that are missing data, it will be displayed in a pop-up. These loan files will not be included in the exported csv file. In order to include them, open the loan file and fill out the missing data, then repeat steps Import the csv file into QuestSoft's HMDA Relief Application. Contact Us If you have any questions regarding HMDA reporting, you can send us an at: support@pricemyloan.com.