Regulatory Alert Summary

Prepared by NASCUS Legislative & Regulatory Affairs Department

February 2016

16-RA-03 Submission of 2015 HMDA Data
NCUA has published Regulatory Alert 16-RA-03 to remind credit unions subject to HMDA filing for 2015 that the deadline for filing is March 1, 2016.

Under the Home Mortgage Disclosure Act (HMDA), implemented by the CFPB’s Regulation C, credit unions that were located in metropolitan areas in 2015, and that engage in certain types of residential mortgage lending, and that had assets exceeding $44 million as of December 31, 2014, must file a report this year regarding mortgage loan applications received in 2015.  

The criteria for determining if a credit union was covered in 2015, and therefore required to file this coming March 1. 2016, are discussed in NCUA’s Regulatory Alert 15-RA-02, “Home Mortgage Disclosure Act (HMDA) Data Collection Requirements for Calendar Year 2015” and summarized by NASCUS here.