Home Mortgage Disclosure Act (HMDA)/Reg C

We would like to begin using the new Demographic Information before 1/1/2018. Can we change the HMDA Admin Settings 2018 HMDA Default to a date prior to 1/1/2018?

If you would like to begin collecting the 2018 DI before 1/1/2018, the recommended workflow is to use your data templates to set Field 4142 "Use 2018 DI" and leave the HMDA Admin Settings Default to 1/1/2018.

Setting the Data Template Field 4142 to "Use 2018 DI" is optional prior to 1/1/2017 and therefore there is no downside to this trigger if you start setting the flag prior to the implementation date.

Use of the HMDA Admin Setting prior to 1/1/2018 could potentially impact your loans if the disposition (Action Taken/Action Taken Date) of loans occur in 2017 since the 2018 HMDA fields have calculation specific to 2018 handling ahead of the regulation.

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