HMDA and CRA Tips

1. Verify your credentials with the CFPB now:  Log into the CPFB HMDA Submission Platform as soon as possible using the credentials you should have received when your institution obtained an LEI and first submitted HMDA.  This ensures that you will not have any future issues logging in when you are ready for your submission.  If this is your first time, then please use the link here to obtain your credentials: https://ffiec.cfpb.gov/filing/
2. Review your Transmittal Sheet ASAP:  Review and confirm that all information contained in your Transmittal Sheet is correct in both RiskExec and on the CFPB's website.  We especially recommend this for institutions that may have recently gone through a merger or acquisition as your Transmittal Sheet information may have changed.  You don’t want to try and submit incorrect information!  For those institutions submitting multiple LARs, please make sure all of your LEIs are available in the CFPB portal and all of your RiskExec files contain the proper LEI and Agency code for each LAR.
3. Keep Edit Checks and Geocoding Current:  When you load a file in RiskExec, we provide the status of the Edit Checks and Geocoding on the File Summary tab.  It will indicate when an institution’s Edit Checks and Geocoding are “not current.” A file may lose its “current” status if there is prolonged inactivity in the file, or if there has been a change made to your data (i.e. changing fields on a loan or importing a new file).  Both statuses must be current before a client requests verification from the RiskExec team.