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

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Regulatory Updates – Fourth Quarter 2023

By | January 2, 2024

Below is a link to the Regulatory Updates as of the end of Q4. 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 all your […]

top 5 in hot metal type

TCA’s Top Five Client Lending Compliance Findings

By | December 29, 2023

As we approach the end of 2023, we wanted to take some time to reflect and comment on some of the most common lending missteps we’ve seen while performing audits for Clients during the year. TCA’s Top Five are firmly rooted in two regulations that examiners spend much time and focus on. Regulation Z and […]

adjustable rate mortgage

“ARM” Yourself for Volume Increase and Avoid Common Compliance Pitfalls

By | November 2, 2023

Part 3 of a 3 Part Series In our last article we recapped items necessary to comply with the Ability-to-Repay (ATR) and Qualified Mortgage (QM) requirements when underwriting the loan. Compliance with Regulation Z does not stop at origination. This article recaps the servicing requirements for ARM loans. Loan Servicing and The Bank’s Core System […]

new rules chalk on chalkboard

Corporate Transparency Act Implementation

By | October 24, 2023

FinCEN has published a flurry of Beneficial Ownership information in the last two weeks which has led many financial institutions to question how any of this information applies to them, and how their account opening processes will be affected by the new rule going into effect on January 1, 2024. The good news for financial […]

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Regulatory Updates – Third Quarter 2023

By | October 10, 2023

Below is a link to the Regulatory Updates as of the end of Q3. 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 all […]

adjustable rate mortgage

“ARM” Yourself for Volume Increase and Avoid Common Compliance Pitfalls

By | August 16, 2023

Part 2 of a 3 Part Series In our last article, TCA recapped items necessary for origination and proper disclosure of ARM Loans. In this second article, we will review the requirements for complying with underwriting requirements unique to Adjustable-Rate Mortgages. Underwriting ARM Loans While banks are required to comply with the Ability-to-Repay standards in […]

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

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