22-RA-02: Submission of 2021 Home Mortgage Disclosure Act Data
Credit unions located in metropolitan areas that engage in certain types and volume of residential mortgage lending, and that had assets exceeding $48 million as of December 31, 2020, must file a report this year on mortgage loan applications received during 2021. Credit unions subject to Home Mortgage Disclosure Act (HMDA) requirements in the calendar year 2021 must submit loan/application register (LAR) data to the Consumer Financial Protection Bureau (CFPB) by March 1, 2022.
Credit unions can determine if they must submit HMDA data for the calendar year 2021 activity by reviewing the 2021 HDMA Institutional Coverage Chart. Credit unions must submit their HMDA data using the HMDA Platform, which will guide credit unions through the LAR filing process. The LAR Formatting Tool can be used to submit data in the required pipe delimited text file format. Note that credit unions must address all edits prior to submitting their HDMA data.
Failure to submit required 2021 HMDA data to the CFPB by March 1, 2022, deadline could result in civil money penalty assessments for credit unions.