HMDA

Question 1

Primary goal of HMDA

Answer 1

To identify urban areas where the availability of home financing at reasonable terms is limited

Question 2

HMDA is also know as

Answer 2

Regulation C

Question 3

Enforcement of HMDA is shared by

Answer 3

CFPB, OCC, Federal Reserve, HUD, FDIC, NCUA

Question 4

HMDA focuses on the distribution of credit among these urbanized areas with a population of at least 50,000

Answer 4

metropolitan statistical areas (MSAs)

Question 5

Asset threshold for depository institutions to be governed by HMDA

Answer 5

$48 million

Question 6

Loan-volume threshold for depository institution to be governed by HMDA

Answer 6

1. At least 100 closed-end mortgage loans in either of the two preceding calendar years, or
2. At least 500 open-end lines of credit in either of the two preceding calendar years

Question 7

Open-end loan volume threshold is scheduled to decrease to XXX on 1/1/2022

Answer 7

200

Question 8

True or False:

HMDA applies not only to originated mortgages, but applies to all applications and refinances

Answer 8

True

Question 9

Institutions with at least XXX covered loan originations must also report HMDA on a quarterly basis, in addition to the annual requirement

Answer 9

60,000

Question 10

True or False:

Q4 HMDA results are not required so long as they are bundled into the annual HMDA report

Answer 10

True

Question 11

Time requirement for quarterly HMDA reporting

Answer 11

60 days after quarter end