HMDA & CRA Data Integrity Reviews

stack of files with magnifying glass on top showing data review

Rooting out your HMDA compliance gaps and preparing you for a successful exam.

We perform exhaustive reviews to confirm that your HMDA data are complete and accurate and conform to examiners’ expectations.

Gathering the accurate and complete HMDA data regulators require can haunt banks come exam time.

You worry about human and systematic errors, gaps in your lending areas, including your commercial lending practices, and whether you've interpreted HMDA requirements correctly.

In many ways, it takes a village to ensure that you're meeting regulators' expectations and that staff across your business lines collect, record, and present all HMDA-required data consistently, effectively, and accurately.

TCA can be part of your village. Our team members, all former bankers, know where banks get tripped up by HMDA.

As such, banks have relied on us for HMDA reviews for decades. We reduce the stress associated with anticipating and preparing for HMDA exams and we give you the confidence that you’ll be ready when an examiner steps through the door.

Through our discovery, we shed light on whether your policies or approaches are missing key regulatory requirements. In addition, our consultants study the latest regulatory changes and understand what they mean to your bank.

Some of the services you can expect:

  • A review of your LAR to assess whether your data collection and reporting are accurate and adhere to HMDA requirements
  • A deeper dive through custom samples to identify HMDA trouble spots
  • Advice on HMDA data validations to ensure you have trust in the integrity of your data
  • An analysis of procedures and workflow

We also look for common mistakes we've encountered:

  • Inaccurate loan amounts.
  • Geocoding and Census Tract changes that aren't reflected in the files.
  • Lending transaction bank fees that are missing from the file.
  • Missing documentation related to income and credit decision dates.

TCA shows you A Better Way to overcome your HMDA compliance struggles.

Key deliverables include:

  • Outlining how to develop an ongoing monitoring strategy to avoid compliance gaps
  • Updating your team on the newest HMDA reporting requirements
  • Identifying staff training deficiencies
  • Advising on HMDA policies and procedures and measures to enhance data collection

Additional Compliance Topics

sar investigations and aml

Planning for a successful Automated Monitoring System (AMS) Validation by Understanding Common Findings

By | May 24, 2024

Your AMS plays a crucial role in helping financial institutions detect and prevent illicit activities. However, to ensure the effectiveness and compliance of these solutions, regular model validations are necessary and prescribed by Guidance on Model Risk Management from the prudential regulators. During validations, common findings often emerge and highlight opportunities for improvement. Here, TCA […]

sar investigations and aml

Your Dream AML/CFT Home Starts with Good Bones

By | April 29, 2024

Build A Solid Foundation That Will Help You Detect and Combat Financial Crimes Prospective homebuyers want properties with “good bones,” whether buying new construction loaded with smart technology or a 200-year-old historic farmhouse that needs tender loving care. Good bones assure buyers that a property is structurally sound, provides a safe environment, and will be […]

home mortgage application

HOEPA VS HPML (High-Cost and Higher Priced Mortgage Loan)

By | April 11, 2024

The Home Ownership and Equity Protection Act (HOEPA) was enacted in 1994 as an amendment to the Truth-in-Lending Act (TILA) to address abusive practices in refinances and closed-end home equity loans with high interest rates or high fees. Higher Priced Mortgage Loans (HPML) were implemented as part of the Mortgage Disclosure Improvement Act in 2009 […]

helpful tips with three numbers on yellow post it note

Tips for a Successful Offsite Review

By | April 8, 2024

The saying goes that the only constant is change, which is true. In this post-pandemic environment, TCA continues to complete most engagements remotely. Technology advancements have made the process easier, but offsite engagements create different challenges. Please take a moment to review some tips for an efficient, effective TCA remote review. Ensuring a Successful Remote […]

update, upgrade, to update-1672349.jpg

Regulatory Updates – First Quarter 2024

By | April 3, 2024

Below is a link to the Regulatory Updates as of the end of Q1 2024. TCA provides A Better Way for you to track Compliance updates and keep your organization on track. You can download the updates in a PDF form here. As always, TCA is here to help with A Better Way to answer […]

aml

AML/CFT Transaction Monitoring – Importance of Tuning Your AMS Model

By | January 31, 2024

Regulators expect compliance with the standards established in the model risk management guidance (MRMG) (Federal Reserve SR Letter 11-7, OCC Bulletin 2011-12; FDIC FIL 22-2017) as well as the April 9, 2021, Interagency Statement on Model Risk Management for Bank Systems Supporting Bank Secrecy Act/Anti-Money Laundering Compliance. This guidance relates to systems or models used […]

Do You Need Compliance Help?

We’re here to review your current compliance strategy and help you find A Better Way to manage risk.

Phone

800-934-REGS

Email for Non-Confidential Information Only

[email protected]

Office Location

2021 Midwest Road, Suite 200,
Oak Brook, IL 60523

Endorsed By