ALEXANDRIA, Va. (2/26/16)--Credit unions subject to Home Mortgage Disclosure Act (HMDA) requirements in calendar year 2015 have until March 1 to submit Loan Application Register Data to the Federal Reserve Board (FRB).
The National Credit Union Administration (NCUA) issued a regulatory alert (16-RA-03) this week containing filing information, including options for filing data, a link to data entry software and other resources.
Credit unions located in metropolitan areas that engage in certain types of residential mortgage lending and that had assets exceeding $44 million as of Dec. 31, 2014, must file a report this year regarding mortgage loan applications received during 2015.
“NCUA expects every credit union required to report 2015 HMDA data to provide a readable transmission file in an acceptable format to FRB by the March 1, 2016, deadline. After March 1, FRB will provide a list of delinquent filers to NCUA,” the NCUA’s alert reads. “Credit unions appearing on FRB’s delinquent filers list could become subject to civil money penalty assessments.”
Data can be submitted via paper form, the Web, email or on a diskette or CD-ROM.