NCUA issued a Regulatory Alert (23-RA-02) on Home Mortgage Disclosure Act (HMDA) data collection requirements for the calendar year 2023.
Credit unions that meet all four criteria must collect HMDA data during calendar year 2023 and submit the data to the CFPB no later than March 1, 2024.
Regulation C requires credit unions to collect HMDA data associated with mortgage loan applications processed during 2023 if the credit union:
Credit unions that do not meet all four criteria are exempt from filing HMDA data for mortgage loan applications processed in calendar year 2023.
The alert also contains a list and table of HMDA data partial exemptions.