The Office of the Comptroller of the Currency (OCC) recently issued a bulletin to all entities it supervises with details indicating the data fields examiners will use to test and validate the accuracy and reliability of loan data collected in accordance with Home Mortgage Disclosure Act (HMDA) requirements as of 2018.
The bulletin outlines the different reporting requirements for banks mandated to comply with expanded HMDA reporting standards and those only responsible for reporting data required by the original HMDA rule.
Read on to learn more details about the bulletin.