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Acting Comptroller Issues Statement on Home Mortgage Disclosure Act Reporting
On Tuesday, October 17, 2017, the OCC issued a bulletin to inform national banks, federal savings associations, and insured federal branches and agencies of foreign banks about key fields examiners will typically use to validate the accuracy and reliability of home mortgage loan data collected beginning in 2018 pursuant to the Home Mortgage Disclosure Act (HMDA) rule issued October 15, 2015. The Board of Governors of the Federal Reserve, the FDIC, and the OCC issued similar guidance designating the same key fields for these purposes.
“I commend the hard work of the staffs of the OCC and the other federal banking agencies. The action the agencies take today will support the efficient and effective evaluation of financial institutions’ compliance with the requirements of HMDA,” said Acting Comptroller of the Currency Keith A. Noreika.