HMDA: Temporary Financing

HMDA is one of those regulations that requires accuracy, as too many errors can lead to civil money penalties with HMDA: Temporary Financing. With all the data you are required to collect, there are bound to be mistakes, but auditing your HMDA files can help catch them before the information is submitted to your regulator. One thing you’ll want to ensure is that all the loans on your HMDA-LAR are, in fact, HMDA-reportable. This can get a little tricky when it comes to temporary financing.

David explains more in the video.


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