2017 HMDA Submission and Product Update (Build )

Transcription

1 2017 HMDA Submission and Product Update (Build ) Release Notes January

2 Table of Contents Table of Contents... 2 Overview... 3 Installation Notes HMDA Submission Updates... 4 Loan Amount and Income Limits Changes... 4 Respondent ID Changes... 4 Fair Lending Marketing (M6) Report

3 Overview The 2017 HMDA Submission and Product Update (Build ) includes compliance updates for 2017 HMDA submission and important updates to the Fair Lending Marketing (M6) report. The update can be installed as an upgrade to Version 7.3 (Build ) or the Fair Lending Wiz HMDA DF Update. Note: If this update is applied after the Fair Lending Wiz HMDA DF Update the build number will remain at For confirmation installation instructions please refer to the Release Notes for this update. Installation Notes During the CRA Wiz and Fair Lending Wiz program install, the installer checks for a minimum supported SQL version. The minimum supported SQL Version for 2017 HMDA Submission and Product Update is SQL Server 2008 R2. If you attempt to install the software using an earlier SQL version, the installer displays the following error message: Error SQL version requirements not met: DVWCRADB11. This installation requires SQL Server or later. You can click the OK button to acknowledge the message and proceed with installation, however, Wolters Kluwer does not recommend proceeding with the installation if you are not running SQL Server 2008 R2 or higher. For more information, please contact Wolters Kluwer Technical Support at

4 2017 HMDA Submission Updates Refer to the following sections for more information about Submission updates included in this release. Loan Amount and Income Limits Changes Respondent ID Changes Loan Amount and Income Limits Changes The CFPB has removed limits on Loan Amount and Income in the submission file. To support this change, the CRA Wiz and Fair Lending Wiz Submission Wizard will no longer check for Loan Amount and Income limits. As a result, the below error message has been removed from the Submission Wizard: Respondent ID Changes The CFPB no longer allows leading 0s (zeroes) or dashes ( - ) in the Respondent ID field in the HMDA submission file. The 2017 Submission Update modifies the HMDA.txt file so that it does not contain leading 0s (zeroes) in the Respondent ID field. In addition, the optional Transmittal Sheet report that you can generate in the Submission Wizard has been updated to reflect this change. Examples: If you specify your Respondend ID as " " in the Submission Wizard, the HMDA.txt file indicates 1234 rather than If you specify your Respondend ID as " " in the Submission Wizard, the HMDA.txt file indicates rather than Important Note: If you generate the optional Submission Reports (Detailed Report and IRS Report) for your records in CRA Wiz and Fair Lending Wiz, Respondent ID changes will be included in these reports in a future release. 4

5 Fair Lending Marketing (M6) Report The Marketing (M6) report has been updated as follows: 1. The Agency selections in the Agency drop-down menu consolidates FRB values into a single value. If you select the 2 FRB HMDA Processing entry in this menu, the M6 report will produce Peer HMDA Data under FRB guidance: 2. Fixed issue in which the the Tract Income Category section of the M6 report was incorrectly displaying # (number) of housing units instead of # (number) of households. The report now properly reflects # of households: 5

6 About Wolters Kluwer Financial Services - Wolters Kluwer Financial Services provides audit, risk and compliance solutions that help financial organizations improve efficiency and effectiveness across their enterprise. Whether complying with regulatory requirements, addressing a single key risk, or working toward a holistic risk management strategy, more than 15,000 customers worldwide count on Wolters Kluwer Financial Services for a comprehensive and dynamic view of risk management and compliance. With more than 30 offices in over 20 countries, the company s prominent brands include: FRSGlobal, ARC Logics for Financial Services, PCi, Bankers Systems, VMP Mortgage Solutions, AppOne, GainsKeeper, Capital Changes, NILS, AuthenticWeb and Uniform Forms. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2011) 3.4 billion ($4.7 billion) and approximately 19,000 employees worldwide. Please visit our website for more information. Wolters Kluwer Financial Services 130 Turner Street Building 3, 4th Floor Waltham, MA Wolters Kluwer Financial Services 6