EDITION EFFECTIVE JANUARY 1, 2020 

(For HMDA Submissions due March 1, 2021) 

A GUIDE TO
	

HMDA 

Reporting 

Getting It Right! 

Federal Financial Institutions 

Examination Council 

2020 

Edition 

Welcome to the 2021 HMDA filing, HMDA Filer 

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Ficus Bank 

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A GUIDE TO 2020 HMDA Reporting: Getting It Right! Edition 

 

 

 

 

 

 

Edition effective January 1, 2020 (for HMDA submissions due March 1, 

2021) 

This edition of the Guide is the comprehensive edition for the 2020 calendar
	

year data (due March 1, 2021). Appendices include:
	

 Overview of Data Requirements Chart;
	

 HMDA Small Entity Compliance Guide;
	

 Instructions on Collection of Data on Ethnicity, Race, and Sex;
	

 Step-by-Step Charts Summarizing Transactional and Institutional Coverage;
	

 Partial Exemptions Charts;
	

 Data Fields and Data Points Chart;
	

 Regulation C, 12 CFR Part 1003;
	

 Official Interpretations to Regulation C, 12 CFR Part 1003;
	

 Federal HMDA Reporting Agencies; and
	

 HMDA Poster.
	

Last Edited: 

January 9, 2020 
.........................................................................................

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contents Foreword I

Summary of Requirements.......................................................... 1
	

Institutional Coverage: Who Must Report? ............................................................. 1
	

Transactional Coverage: What Is Reported?.......................................................... 10
	

Compilation of Reportable Data: What Is Reported?............................................. 32
	

Recording, Reporting, and Disclosure: When is it Reported?.............................. 34
	

Appendices..................................................................................42
	

Overview of Data Requirements Chart .................................................................. A-1
	

HMDA Small Entity Compliance Guide ................................................................. B-1
	

Instructions on Collection of Data on Ethnicity, Race, and Sex ....................... C-1
	

Institutional Coverage Chart ................................................................................. D-1
	

Transactional Coverage Chart .............................................................................. E-1
	

Partial Exemptions Charts .....................................................................................F-1 

Data Fields and Data Points Chart ....................................................................... G-1 

Regulation C ........................................................................................................... H-1
	

Official Interpretations to Regulation C ................................................................. I-1
	

Federal HMDA Reporting Agencies ...................................................................... J-1
	

HMDA Poster .......................................................................................................... K-1
	
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A Guide to HMDA Reporting: Getting It Right! will assist you in complying with the 

Home Mortgage Disclosure Act (HMDA) as implemented by the Consumer Financial 

Protection Bureau’s Regulation C, 12 CFR Part 1003 (Regulation C). The purpose of 

this Guide is to provide an easy-to-use summary of certain key requirements. This 

Guide does not provide detailed information about the HMDA submission process, or 

file, data, and edit specifications. Information about those topics may be found on the 

FFIEC’s Resources for HMDA Filers website, available at 

Foreword 

ffiec.cfpb.gov and 

www.ffiec.gov/hmda/. 

The Foreword and Summary of Requirements sections of the Guide were developed 

by the Federal Financial Institutions Examination Council (FFIEC) — the Board of 

Governors of the Federal Reserve System (Board), the Consumer Financial Protection 

Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the National Credit 

Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), 

and the State Liaison Committee (SLC) — and the U.S. Department of Housing and 

Urban Development (HUD). The appendices include, in addition to Regulation C and 

its Official Interpretations, certain HMDA compliance materials developed and issued 

exclusively by the CFPB and not by the FFIEC or its other member agencies. 

Financial institutions may wish to consult and rely upon additional compliance 

resources that their Federal supervisory agencies may offer. Contact information for 

each agency is available in Appendix J. 

This edition of the Guide incorporates the amendments made to HMDA by the DoddFrank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act)1 and the 

1 Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law No. 111-203, 124 Stat. 

1376, 2097-2101 (2010). 

I | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Economic Growth, Regulatory Relief, and Consumer Protection Act (The 2018 Act).2

The Dodd-Frank Act amended HMDA, transferred rulewriting authority to the CFPB 

and expanded the scope of information that must be collected, reported, and disclosed 

under HMDA, among other changes. In October 2015, the CFPB issued the 2015 

HMDA Rule implementing the Dodd-Frank Act amendments to Regulation C.3 The 

2015 HMDA Rule modified the types of institutions and transactions subject to 

Regulation C, the types of data that institutions are required to collect, and the 

processes for reporting and disclosing the required data.4 

On August 24, 2017, the CFPB issued a 2017 HMDA Rule to further amend 

Regulation C to make technical corrections and clarify and amend certain requirements 

adopted by the 2015 HMDA Rule.5

The 2018 Act amended HMDA by adding partial exemptions from HMDA’s 

requirements for certain transactions made by certain insured depository institutions 

2 Public Law No. 115-174, 132 Stat. 1296 (2018). The President signed the Economic Growth, 

Regulatory Relief, and Consumer Protection Act into law on May 24, 2018. 

3 Home Mortgage Disclosure (Regulation C), 80 FR 66128 (Oct. 28, 2015) (2015 HMDA Rule). 

4 2015 HMDA Rule, 80 FR 66128-29. For more information on the specific changes made by 

the 2015 amendments to Regulation C, review the Executive Summary for the 2015 HMDA 

Rule, available at www.consumerfinance.gov/documents/5218/201510_cfpb_hmdaexecutive-summary.pdf. Further, Section 2 of the HMDA Small Entity Compliance 

Guide, available in Appendix B of this Guide, also provides an overview of these changes. 

5 Home Mortgage Disclosure (Regulation C), 82 FR 43088 (Sept. 13, 2017) (2017 HMDA
	

Rule). For more information on the specific changes made by the 2017 technical 

corrections and clarifications to Regulation C, review the Executive Summary, available at 

www.consumerfinance.gov/documents/5206/201707_cfpb_hmda-executivesummary.pdf.
	

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | II 
 

 

 

 

 

 

 

 

and insured credit unions. On August 31, 2018, the CFPB issued a 2018 HMDA Rule 

to implement and clarify changes made by the 2018 Act.6 

On October 10, 2019, the Bureau issued the 2019 HMDA Rule to extend the 

temporary threshold for reporting data about open end lines of credit and implement 

and further clarify the partial exemptions created by the 2018 Act.7

6 83 FR 45325 (Sept. 7, 2018).
	

7 84 FR 57946 (Oct. 29, 2019).
	

III | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

 

 

 

 

 

 

 

 

The Summary of Requirements reviews HMDA’s purposes and data collection, 

reporting, and disclosure requirements. It provides a high level summary of: 

 The institutions covered by Regulation C.
	

 The transactions covered by Regulation C.
	

 The information that covered institutions are required to collect, record, and
	

report.
	

 The requirements for reporting and disclosing data.
	

This Guide is not a substitute for HMDA or Regulation C. Regulation C and its 

official interpretations (also known as the commentary) are the definitive sources of 

information regarding their requirements. Regulation C and its commentary are 

available in Appendix H and I of this Guide and at 

www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1003/. 

Additionally, this Guide is not a substitute for the requirements for filing the reportable 

data. The Filing Instructions Guide (FIG) is the definitive source for information 

regarding the filing requirements and is available at ffiec.cfpb.gov.

8 

8 The Federal HMDA reporting agencies (the Board, CFPB, HUD, FDIC, NCUA, and OCC), 

referred to as the “appropriate Federal agency” in Regulation C, agreed that, beginning on 

January 1, 2018, all HMDA filers will file their HMDA data with the CFPB. The CFPB will 

process the HMDA data for the Federal HMDA reporting agencies and the FFIEC, and 

prepare and make available data products to the general public on behalf of the Federal 

HMDA reporting agencies and the FFIEC. For HMDA data reporting beginning in 2018, a 

web-based data submission and edit-check system (the HMDA Platform) is available to 

process HMDA data. For a financial institution to submit its file, it must be in pipe 

delimited format. For more information on the format and how to submit the file, review 

the Filing Instructions Guide. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | IV 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Feedback 

The FFIEC welcomes suggestions for changes or additions that might make this Guide 

more helpful. 

Write to: 

FFIEC 

3501 Fairfax Drive 

Room B-7081a 

Arlington, VA 22226 

Send an e-mail to: GettingItRightGuide@cfpb.gov 

Questions 

If, after reviewing the resources in this Guide, you have a question regarding a 

specific provision of the regulation, or have questions about how to file HMDA data, 

please email HMDAHELP@cfpb.gov with your specific question, identifying the filing 

year you are referencing, and, when applicable, the section(s) of the regulation 

related to your question. You can also submit the inquiry online using the form 

available at hmdahelp.consumerfinance.gov. The information you provide will 

permit the CFPB to process your request or inquiry. You may also contact your 

appropriate Federal HMDA reporting agency (see Appendix J to this Guide). 

V | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

 

 

 

 

 

 

Transactional
	

Coverage 

Compilation of 

Reportable Data
	

Recording, Reporting, 

and Disclosure 

Summary of 

Requirements 

Generally, this Guide will point you to the relevant resources that discuss: 

Institutional
	

Coverage 

 Coverage Generally 

 Coverage Tests 

 Exemptions Based on 

State Law 

 Mergers and 

Acquisitions 

 The institutions covered by Regulation C.
	

 The transactions covered by Regulation C.
	

 The information that covered institutions are required to collect, record, and
	

report.
	

 The requirements for reporting and disclosing data.
	

The material can be found after the introduction in the referenced appendix section. 

Institutional Coverage: Who Must Report? 

INSTITUTIONAL COVERAGE GENERALLY 

An institution is required to comply with Regulation C only if it is a “financial institution” 

as that term is defined in Regulation C. The definition of financial institution includes 

both depository financial institutions and nondepository financial institutions, as those 

terms are separately defined in Regulation C. 12 CFR 1003.2(g). 

An institution uses these two definitions, which are outlined below, as coverage tests to 

determine whether it is a financial institution that is required to comply with Regulation 

C. For the purposes of this Guide, the term “financial institution” refers to an institution 

that is either a depository financial institution or a nondepository financial institution 

that is subject to Regulation C. 

Where to Look: Regulation C’s institutional coverage criteria are found within the 

definition of “financial institution,” located at 12 CFR 1003.2(g) and the associated commentary, 

available in Appendix H and I of this Guide. You may also want to review section 3 of the 

HMDA Small Entity Compliance Guide in Appendix B and the Institutional Coverage Chart in 

Appendix D of this Guide. 

1 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage Generally
	

 Coverage Tests
	

 Exemptions Based on
	

State Law
	

 Mergers and
	

Acquisitions
	

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

I 

 

 

 

 

 

NSTITUTIONAL COVERAGE TESTS 

DEPOSITORY FINANCIAL INSTITUTIONS 

A bank, savings association, or credit union is a depository financial institution and 

subject to Regulation C if it meets ALL of the following:
	

1. Asset-Size Threshold. On the preceding December 31, the bank, savings 

association, or credit union had assets in excess of the asset-size threshold published 

annually in the Federal Register, included in the official interpretations, 12 CFR Part 

1003, Comment 2(g)-2, and posted on the CFPB’s website. 12 CFR 1003.2(g)(1)(i). 

The phrase “preceding December 31” refers to the December 31 immediately 

preceding the current calendar year. For example, in 2020, the preceding December 

31 is December 31, 2019. Comment 2(g)-1. 

2. Location Test. On the preceding December 31, the bank, savings association, or 

credit union had a home or branch office located in a metropolitan statistical area 

(MSA). 12 CFR 1003.2(g)(1)(ii). 

For purposes of this location test, a branch office for a bank, savings association, or 

credit union is an office: (a) of the bank, savings association, or credit union (b) that is 

considered a branch by the institution’s Federal or State supervisory agency. For 

purposes of Regulation C, an automated teller machine or other free-standing 

electronic terminal is not a branch office regardless of whether the supervisory agency 

would consider it a branch. 12 CFR 1003.2(c)(1). A branch office of a credit union is 

any office where member accounts are established or loans are made, whether or not 

an agency has approved the office as a branch. Comment 2(c)(1)-1. 

3. Loan Activity Test. During the preceding calendar year, the bank, savings 

association, or credit union originated at least one home purchase loan or refinancing 

of a home purchase loan secured by a first lien on a one-to four-unit dwelling. 12 CFR 

1003.2(g)(1)(iii). For more information on whether a loan is secured by a dwelling, is a 

home purchase loan, or is a refinancing, see 12 CFR 1003.2(f), (j), and (p) and 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 2 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage Generally
	

 Coverage Tests
	

 Exemptions Based on
	

State Law
	

 Mergers and
	

Acquisitions
	

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

associated commentary; and Sections 4.1.1.2 and 5.7 of the HMDA Small Entity 

Compliance Guide available in Appendix B of this Guide. 

4. Federally Related Test. The bank, savings association, or credit union: 

a. Is federally insured; or 

b. Is federally regulated; or 

c. Originated at least one home purchase loan or refinancing of a home purchase 

loan that was secured by a first lien on a one- to-four-unit dwelling and also (i) 

was insured, guaranteed or supplemented by a Federal agency or (ii) was 

intended for sale to the Federal National Mortgage Association (Fannie Mae) or 

the Federal Home Loan Mortgage Corporation (Freddie Mac). 

12 CFR 1003.2(g)(1)(iv). 

5. Loan-Volume Threshold. The bank, savings association, or credit union meets or 

exceeds either the closed-end mortgage loan or the open-end line of credit loanvolume threshold in each of the two preceding calendar years. Effective January 1, 

2018 and through December 31, 2021, a bank, savings association, or credit union 

that originated at least 25 closed-end mortgage loans in each of the two preceding 

calendar years, or originated at least 500 open-end lines of credit in each of the two 

preceding calendar years meets or exceeds the loan-volume threshold. 

When the bank, savings association, or credit union determines whether it meets 

these loan-volume thresholds, it does not count transactions excluded by 

12 CFR 1003.3(c)(1) through (10) and (13). 12 CFR 1003.2(g)(1)(v). Closed-end 

mortgage loans, open-end lines of credit, and these excluded transactions are 

discussed below in TRANSACTIONAL COVERAGE: WHAT IS REPORTED?. 

3 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage Generally
	

 Coverage Tests
	

 Exemptions Based on
	

State Law
	

 Mergers and
	

Acquisitions
	

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

When determining if it meets the loan-volume thresholds, a bank, savings association, 

or credit union only counts closed-end mortgage loans and open-end lines of credit 

that it originated. Only one institution is deemed to have originated a specific closedend mortgage loan or open-end line of credit under Regulation C, even if two or more 

institutions are involved in the origination process. Only the institution that is deemed 

to have originated the transaction under Regulation C counts it for purposes of the 

Loan-Volume Threshold. Comment 2(g)-5; see also Comments 4(a)-2 through -4. 

These requirements are discussed below in TRANSACTIONS INVOLVING MULTIPLE 

ENTITIES. 

Regulation C also includes a separate test to ensure that financial institutions that 

meet only the closed-end mortgage loan threshold are not required to report their 

open-end lines of credit, and that financial institutions that meet only the open-end line 

of credit threshold are not required to report their closed-end mortgage loans. 

12 CFR 1003.3(c)(11) and (12).9 For more information, see HMDA Small Entity 

Compliance Guide, Section 4.1.2 available in Appendix B of this Guide. 

9 If a financial institution is required under Regulation C to report only closed-end mortgage 

loans, it may optionally report open-end lines of credit that are excluded because the financial 

institution does not meet the transactional threshold for open-end lines of credit but that 

would otherwise be covered loans. Similarly, if a financial institution is required under 

Regulation C to report only open-end lines of credit, it may optionally report closed-end 

mortgage loans that are excluded because the financial institution does not meet the 

transactional threshold for closed-end mortgage loans but that would otherwise be covered 

loans. However, if it chooses to optionally report either closed-end mortgage loans or openend lines of credit, the financial institution must report all such transactions that would 

otherwise be covered loans for that calendar year. Comments 3(c)(11)-2 and 3(c)(12)-2. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 4 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage
	

 Coverage Tests
	

 Exemptions Based on
	

State Law
	

 Mergers and
	

Acquisitions
	

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

NONDEPOSITORY FINANCIAL INSTITUTIONS 

Under Regulation C, a for-profit mortgage-lending institution other than a bank, 

savings association, or credit union is a nondepository financial institution and subject 

to Regulation C if it meets BOTH of the following: 

1. Location Test. The institution had a home or branch office in a metropolitan 

statistical area (MSA) on the preceding December 31. 12 CFR 1003.2(g)(2)(i). The 

phrase “preceding December 31” refers to the December 31 immediately preceding 

the current calendar year. For example, in 2020, the preceding December 31 is 

December 31, 2019. Comment 2(g)-1 

For purposes of this location test, a branch office of a nondepository financial 

institution is any one of the institution’s offices at which the institution takes from the 

public applications for covered loans. A nondepository financial institution is also 

deemed to have a branch office in an MSA if, in the preceding calendar year, it 

received applications for, originated, or purchased five or more covered loans related 

to property located in that MSA, even if it does not have an office in that MSA. 12 CFR 

1003.2(c)(2). Covered loans and applications for covered loans are discussed below 

in TRANSACTIONAL COVERAGE: WHAT IS REPORTED?. 

2. Loan-Volume Threshold. The institution meets or exceeds either the closed-end 

mortgage loan-volume threshold or the open-end line of credit loan-volume threshold in 

each of the two preceding calendar years. Effective January 1, 2018 through 

December 31, 2021, an institution that originated at least 25 closed-end mortgage 

loans in each of the two preceding calendar years, or originated at least 500 open-end 

lines of credit in each of the two preceding calendar years meets or exceeds the loanvolume threshold. 

When an institution determines whether it meets the loan-volume thresholds, it does 

not count transactions excluded by 12 CFR 1003.3(c)(1) through (10) and (13). 12 

CFR 1003.2(g)(2)(ii). 

5 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage Generally
	

 Coverage Tests
	

 Exemptions Based on
	

State Law
	

 Mergers and
	

Acquisitions
	

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

Closed-end mortgage loans, open-end lines of credit, and these excluded transactions 

are discussed below in TRANSACTIONAL COVERAGE: WHAT IS REPORTED?. 

When determining if it meets the loan-volume thresholds, an institution only counts 

closed-end mortgage loans and open-end lines of credit that it originated. Only one 

institution is deemed to have originated a specific closed-end mortgage loan or openend line of credit under Regulation C, even if two or more institutions are involved in 

the origination process. Only the institution that is deemed to have originated the 

transaction under Regulation C counts it for purposes of the loan volume threshold. 

Comment 2(g)-5; see also Comments 4(a)-2 through -4. These requirements are 

discussed below in TRANSACTIONS INVOLVING MULTIPLE ENTITIES. 

Regulation C also includes a separate test to ensure that financial institutions that 

meet only the 25 closed-end mortgage loan threshold are not required to report their 

open-end lines of credit, and that financial institutions that meet only the 500 open-end 

line of credit threshold are not required to report their closed-end mortgage loans. 

12 CFR 1003.3(c)(11) and (12).10 For more information, see the HMDA Small Entity 

Compliance Guide, Section 4.1.2 available in Appendix B of this Guide. 

10 If a financial institution is required under Regulation C to report only closed-end mortgage 

loans, it may optionally report open-end lines of credit that are excluded because the financial 

institution does not meet the transactional threshold for open-end lines of credit but that 

would otherwise be covered loans. Similarly, if a financial institution is required under 

Regulation C to report only open-end lines of credit, it may optionally report closed-end 

mortgage loans that are excluded because the financial institution does not meet the 

transactional threshold for closed-end mortgage loans but that would otherwise be covered 

loans. However, if it chooses to optionally report either closed-end mortgage loans or openend lines of credit, the financial institution must report all such transactions that would 

otherwise be covered loans for that calendar year. Comments 3(c)(11)-2 and 3(c)(12)-2. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 6 
 

 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage
	

 Coverage Tests
	

 Exemptions Based on
	

State Law
	

 Mergers and
	

Acquisitions
	

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

EXEMPTIONS BASED ON STATE LAW 

Regulation C provides that financial institutions may apply for an exemption from 

coverage. Specifically, the CFPB may exempt a State-chartered or State-licensed 

financial institution if the CFPB determines that the financial institution is subject to a 

State disclosure law that contains requirements substantially similar to those imposed 

by Regulation C and adequate enforcement provisions. Any State-licensed or Statechartered financial institution or association of such institutions may apply to the CFPB 

for an exemption. An exempt institution shall submit the data required by State law to 

its State supervisory agency. 12 CFR 1003.3(a). A financial institution that loses its 

exemption must comply with Regulation C beginning with the calendar year following 

the year for which it last reported data under the State disclosure law. 12 CFR 

1003.3(b). 

MERGERS AND ACQUISITIONS 

After a merger or acquisition, the surviving or newly formed institution is subject to 

Regulation C if it satisfies the coverage criteria for either a depository financial 

institution or a nondepository financial institution. See INSTITUTIONAL COVERAGE TESTS, 

above, and Section 3 of the HMDA Small Entity Compliance Guide available in 

Appendix B of this Guide. 

Annual reporting responsibility for the calendar year after a merger or 

acquisition. When determining whether the surviving or newly formed institution is 

covered for the calendar year after a merger or acquisition, the surviving or newly 

formed institution must consider the combined assets, locations, and lending activities 

of the surviving or newly formed entity and the merged or acquired entities or acquired 

branches. Comment 2(g)-3. 

Annual reporting responsibility for the calendar year of a merger or acquisition. 

The following discusses the applicability of Regulation C during the calendar year of a 

merger or acquisition: 

7 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage 

 Coverage Tests 

 Exemptions Based on 

State Law 

 Mergers and 

Acquisitions 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.		 If two institutions that are not subject to Regulation C merge but the newly 

formed or surviving institution is subject to Regulation C, no data collection is 

required for the calendar year of the merger. 

2.		 When a branch office of an institution that is not subject to Regulation C is 

acquired by another institution that is not subject to Regulation C, and the 

acquisition results in the acquiring institution becoming subject to Regulation C, 

no data collection is required for the calendar year of the acquisition. 

3.		 If an institution that is subject to Regulation C and an institution that is not 

subject to Regulation C merge, and the surviving or newly formed institution is 

subject to Regulation C, for the calendar year of the merger, data collection is 

required for covered loans and applications handled in the offices of the 

institution that was previously subject to Regulation C. For the calendar year of 

the merger, data collection is optional for covered loans and applications 

handled in offices of the institution that was not previously subject to Regulation 

C. 

4.		 When an institution that is subject to Regulation C acquires a branch office of an 

institution that is not subject to Regulation C, data collection is optional for 

covered loans and applications handled by the acquired branch office for the 

calendar year of the acquisition. 

5.		 If an institution that is subject to Regulation C and an institution that is not 

subject to Regulation C merge and the surviving or newly formed institution is 

not subject to Regulation C, data collection is required for covered loans and 

applications handled prior to the merger in the previously covered institution’s 

offices. After the merger date, data collection is optional for covered loans and 

applications handled in the offices of the institution that was previously covered. 

6.		 When an institution that is not subject to Regulation C acquires a branch office 

of an institution that is subject to Regulation C but that acquisition does not 

result in the acquiring institution becoming subject to Regulation C, data 

collection is required for transactions of the acquired branch office that take 

place prior to the acquisition. Data collection by the acquired branch office is 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 8 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

 Coverage
	

 Coverage Tests
	

 Exemptions Based on
	

State Law
	

 Mergers and
	

Acquisitions
	

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

optional for transactions taking place in the remainder of the calendar year of 

the acquisition. 

7.		 If two or more institutions that are subject to Regulation C merge and the 

surviving or newly formed institution is also subject to Regulation C, data 

collection is required for the entire calendar year of the merger. The surviving or 

newly formed financial institution files either a consolidated submission or 

separate submissions for that calendar year. 

8.		 When one institution subject to Regulation C acquires a branch office of another 

covered institution, data collection is required for the entire calendar year of the 

merger. Data for the acquired branch office may be submitted by either financial 

institution. Comment 2(g)-4. 

CHANGES TO APPROPRIATE FEDERAL HMDA REPORTING AGENCY OR TIN 

Under Regulation C, if the appropriate Federal HMDA reporting agency for a financial 

institution changes, the financial institution must identify its new appropriate Federal 

HMDA reporting agency in its annual submission for the year of the change. For 

example, if a financial institution’s appropriate Federal HMDA reporting agency 

changes in February 2020, it must identify its new appropriate Federal HMDA 

reporting agency beginning with the annual submission of its 2020 data by March 1, 

2021. 

If a financial institution obtains a new Tax Identification Number (TIN), it should 

provide the new number in its subsequent data submission. For example, if two 

financial institutions that previously reported HMDA data merge and the surviving 

financial institution retained its Legal Entity Identifier (LEI) but obtained a new TIN, 

then the surviving financial institution should report the new TIN with its next HMDA 

data submission. Comment 5(a)-5. 

9 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

Summary of 

Requirements 

Institutional 

Coverage 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Transactional Coverage: What is Reported? 

A financial institution is required to collect, record, and report information only for 

transactions that are subject to Regulation C. The transactions covered may come 

from multiple departments in an institution, including its closed-end loan, open-end 

loan, and commercial loan departments. All lines of business will need to be reviewed 

for covered transactions. 

Where to Look: Regulation C’s transactional coverage criteria is generally found within 

the definition of “Covered Loan,” located at 12 CFR 1003.2(e) and the associated commentary, 

available in Appendix H and I of this Guide. You may also want to review Section 4 of the 

HMDA Small Entity Compliance Guide available in Appendix B and the Transactional Coverage 

Chart available in Appendix E of this Guide. 

COVERED LOANS 

A covered loan can be either a closed-end mortgage loan or an open-end line of
	

credit, but an excluded transaction cannot be a covered loan. 12 CFR 1003.2(e).
	

To determine if a transaction is subject to Regulation C, a financial institution should 

first determine whether the loan or line of credit involved in the transaction is either a 

closed-end mortgage loan or an open-end line of credit. See IS IT A CLOSED-END 

MORTGAGE LOAN OR AN OPEN-END LINE OF CREDIT?, below, or Section 4.1.1 of the 

HMDA Small Entity Compliance Guide, available in Appendix B of this Guide. If the 

loan or line of credit is neither a closed-end mortgage loan nor an open-end line of 

credit, the transaction does not involve a covered loan, and the financial institution is 

not required to report the transaction. If the loan or line of credit is either a closedend mortgage loan or an open-end line of credit, the financial institution must 

determine if the closed-end mortgage loan or open-end line of credit is an excluded 

transaction. See IS IT AN EXCLUDED TRANSACTION?, below, and Section 4.1.2 of the 

HMDA Small Entity Compliance Guide, available in Appendix B of this Guide. If the 

closed-end mortgage loan or an open-end line of credit is an excluded transaction, it 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 10 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

is not a covered loan, and the financial institution is not required to report the 

transaction. If the loan or line of credit is a closed-end mortgage loan or an openend line of credit and is not an excluded transaction, the financial institution may be 

required to report the transaction. See REPORTABLE ACTIVITY, below, and Section 

4.2 of the HMDA Small Entity Compliance Guide, available in Appendix B of this 

Guide. 

1. IS IT A CLOSED-END MORTGAGE LOAN OR AN OPEN-END LINE OF 

CREDIT? 

A closed-end mortgage loan is: 

1.		 An extension of credit (See EXTENSION OF CREDIT, below); 

2.		 Secured by a lien on a dwelling (See SECURED BY A LIEN ON A DWELLING, below); 

and 

3.		 Not an open-end line of credit. 12 CFR 1003.2(d). 

An open-end line of credit is: 

1.		 An extension of credit (See EXTENSION OF CREDIT, below); 

2.		 Secured by a lien on a dwelling (See SECURED BY A LIEN ON A DWELLING, below); 

and 

3.		 An open-end credit plan for which: 

a.		 The lender reasonably contemplates repeated transactions; 

b.		 The lender may impose a finance charge from time-to-time on an 

outstanding unpaid balance; and 

c.		 The amount of credit that may be extended to the borrower during the term 

of the plan (up to any limit set by the lender) is generally made available to 

the extent that any outstanding balance is repaid. 12 CFR 1003.2(o); 

12 CFR 1026.2(a)(20). 

11 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

4.		 Financial institutions may rely on Regulation Z, 12 CFR 1026.2(a)(20), and its 

official commentary when determining whether a transaction is extended under 

a plan for which the lender reasonably contemplates repeated transactions, the 

lender may impose a finance charge from time-to-time on an outstanding unpaid 

balance, and the amount of credit that may be extended to the borrower during 

the term of the plan is generally made available to the extent that any 

outstanding balance is repaid. 

A business-purpose transaction that is exempt from Regulation Z but is otherwise 

open-end credit under Regulation Z, 12 CFR 1026.2(a)(20), would be an open-end 

line of credit under Regulation C if it is an extension of credit secured by a lien on a 

dwelling and is not an excluded transaction. Comment 2(o)-1. 

Extension of credit. A closed-end loan or open-end line of credit is not a closed-end 

mortgage loan or an open-end line of credit under Regulation C unless it involves an 

extension of credit. Individual draws on an open-end line of credit are not separate 

extensions of credit. Comment 2(o)-2. 

Under Regulation C, an “extension of credit” generally requires a new debt obligation. 

Comment 2(d)-2. Thus, for example, a loan modification where the existing debt 

obligation is not satisfied and replaced is not generally a covered loan (i.e., closedend mortgage loan or open-end line of credit) under Regulation C. Except as 

described below, if a transaction modifies, renews, extends, or amends the terms of 

an existing debt obligation, but the existing debt obligation is not satisfied and 

replaced, the transaction is not a covered loan. It is important to note that Regulation 

C defines the phrase “extension of credit” differently than Regulation B, 12 CFR Part 

1002. Comment 2(d)-2 and 2(o)-2. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 12 
 

 

 

Summary of		

Requirements 

Institutional		

Coverage 

Transactional 

Coverage 

 Covered Loans 

 Reportable Activity 

 Transaction involving 

Multiple Entities 

 Partial Exemptions 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

Regulation C provides two narrow exceptions to the requirement that an “extension of 

credit” involve a new debt obligation. The exceptions are designed to capture 

transactions that are substantially similar to new debt obligations and should be 

treated as such. 

1.		 Assumptions. Assumptions are extensions of credit under Regulation C. A 

loan assumption is a transaction in which a financial institution enters into a 

written agreement accepting a new borrower in place of an existing borrower as 

the obligor on an existing debt obligation. Regulation C clarifies that 

assumptions include successor-in-interest transactions in which an individual 

succeeds the prior owner as the property owner and then assumes the existing 

debt secured by the property. Assumptions are extensions of credit even if the 

new borrower merely assumes the existing debt obligation and no new debt 

obligation is created. Comment 2(d)-2.i. 

2. New York CEMAs. Regulation C provides that transactions completed 

pursuant to a New York State consolidation, extension, and modification 

agreement and classified as a supplemental mortgage under New York Tax Law 

Section 255, such that the borrower owes reduced or no mortgage recording 

taxes (New York CEMA), is an extension of credit. However, the regulation also 

provides that certain transactions providing new funds that are consolidated into 

a New York CEMA are excluded from the HMDA reporting requirements. 12 

CFR 1003.3(c)(13); Comment 2(d)-2.ii. 

13 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

Secured by a lien on a dwelling. A loan is not a closed-end mortgage loan and a 

line of credit is not an open-end line of credit unless it is secured by a lien on a 

dwelling. A dwelling is a residential structure. There is no requirement that the 

structure be attached to real property or that it be the applicant’s or borrower’s 

residence. Examples of dwellings include: 

1.		 Principal residences; 

2.		 Second homes and vacation homes; 

3.		 Investment properties; 

4.		 Residential structures attached to real property; 

5.		 Detached residential structures; 

6.		 Individual condominium and cooperative units; 

7.		 Manufactured homes or other factory-built homes; and 

8.		 Multifamily residential structures or communities, such as apartment buildings, 

condominium complexes, cooperative buildings or housing complexes, and 

manufactured home communities. 12 CFR 1003.2(f); Comments 2(f)-1 and -2. 

A dwelling is not limited to a structure that has four or fewer units. It also includes a 

multifamily dwelling, which is a dwelling that includes five or more individual dwelling 

units. A multifamily dwelling includes a manufactured home community. 

A loan related to a manufactured home community is secured by a dwelling even if it 

is not secured by any individual manufactured homes, but is secured only by the land 

that constitutes the manufactured home community. However, a loan related to a 

multifamily residential structure or community other than a manufactured home 

community is not secured by a dwelling unless it is secured by one or more individual 

dwelling units. For example, a loan that is secured only by the common areas of a 

condominium complex or only by an assignment of rents from an apartment building is 

not secured by a dwelling. Comment 2(f)-2. Further, a covered loan secured by five 

or more separate dwellings, which are not multifamily dwellings, in more than one 

location is not a loan secured by a multifamily dwelling. For example, 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 14 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

assume a landlord uses a covered loan to improve five or more dwellings, each with 

one individual dwelling unit, located in different parts of a town, and the loan is 

secured by those properties. The covered loan is not secured by a multifamily 

dwelling as defined by 12 CFR 1003.2(n). Comment 2(n)-3. 

The following are not dwellings: 

1.		 Recreational vehicles, such as boats, campers, travel trailers, or park model 

recreational vehicles; 

2.		 Houseboats, floating homes, or mobile homes constructed before June 15,
	

1976;
	

3.		 Transitory residences, such as hotels, hospitals, college dormitories, or
	

recreational vehicle parks; and
	

4.		 Structures originally designed as a dwelling but used exclusively for commercial 

purposes, such as a home converted to a daycare facility or professional office. 

Comment 2(f)-3. 

A property that is used for both residential and commercial purposes, such as a 

building that has apartment and retail units, is a dwelling if the property’s primary use 

is residential. Comment 2(f)-4. 

A property used for both long-term housing and to provide assisted living or 

supportive housing services is a dwelling. However, transitory residences used to 

provide such services are not dwellings. Properties used to provide medical care, 

such as skilled nursing, rehabilitation, or long-term medical care, are not dwellings. If 

a property is used for long-term housing, to provide related services (such as assisted 

living), and to provide medical care, the property is a dwelling if its primary use is 

residential. Comment 2(f)-5. 

A financial institution may use any reasonable standard to determine a property’s 

primary use, such as square footage, income generated, or number of beds or units 

15 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

allocated for each use. It may select the standard on a case-by-case basis. 

Comments 2(f)-4 and -5. 

2. IS IT AN EXCLUDED TRANSACTION? 

Regulation C does not apply to transactions that are specifically excluded from 

coverage. 12 CFR 1003.3(c). Therefore, an excluded transaction is not a covered 

loan. Regulation C retains and clarifies existing categories of transactions that are 

excluded from coverage. It also expands the existing exclusion for agricultural loans, 

and adds new categories of transactions that are excluded from coverage. Effective 

January 1, 2018, the following are excluded transactions: 

1.		 A closed-end mortgage loan or an open-end line of credit that a financial 

institution originates or purchases in a fiduciary capacity, such as a closed-end 

mortgage loan or an open-end line of credit that a financial institution originates 

or purchases as a trustee. 12 CFR 1003.3(c)(1); Comment 3(c)(1). 

2.		 A closed-end mortgage loan or an open-end line of credit secured by a lien on 

unimproved land. 12 CFR 1003.3(c)(2). Generally, a loan or line of credit must 

be secured by a dwelling to be a covered loan. Regulation C also lists closedend mortgage loans and open-end lines of credit secured only by vacant or 

unimproved land as excluded transactions. However, a loan or line of credit 

secured by a lien on unimproved land is deemed to be secured by a dwelling 

(and might not be excluded) if the financial institution knows, based on 

information that it receives from the applicant or borrower at the time the 

application is received or the credit decision is made, that the proceeds of that 

loan or credit line will be used within two years after closing or account opening 

to construct a dwelling on, or to purchase a dwelling to be placed on, the land. 

Comment 3(c)(2)-1. 

3.		 A closed-end mortgage loan or an open-end line of credit that is temporary
	

financing. 12 CFR 1003.3(c)(3). A transaction is excluded as temporary
	

financing if it is designed to be replaced by separate permanent financing
	

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 16 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans 

 Reportable Activity 

 Transaction involving 

Multiple Entities 

 Partial Exemptions 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

extended to the same borrower at a later time. The separate permanent 

financing may be extended by any lender (i.e., by either the lender that 

extended the temporary financing or another lender). Comment 3(c)(3)-1. A 

construction only loan or line of credit is considered temporary financing and 

excluded under Regulation C if the loan or line of credit is extended to a person 

exclusively to construct a dwelling for sale. Comment 3(c)(3)-2. 

4. The purchase of an interest in a pool of closed-end mortgage loans or open-end 

lines of credit, such as mortgage-participation certificates, mortgage-backed 

securities, or real estate mortgage investment conduits. 12 CFR 1003.3(c)(4); 

Comment 3(c)(4)-1. 

5. The purchase solely of the right to service closed-end mortgage loans or openend lines of credit. 12 CFR 1003.3(c)(5). 

6. The purchase of a closed-end mortgage loan or an open-end line of credit as 

part of a merger or acquisition or as part of the acquisition of all of a branch 

office’s assets and liabilities. 12 CFR 1003.3(c)(6); Comment 3(c)(6)-1. For 

more information on mergers and acquisitions under Regulation C, see 

Comments 2(g)-3 and -4. See also HMDA Small Entity Compliance Guide, 

Section 8, available in Appendix B of this Guide. 

7. A closed-end mortgage loan or an open-end line of credit, or an application for a 

closed-end mortgage loan or open-end line of credit, for which the total dollar 

amount is less than $500. 12 CFR 1003.3(c)(7). 

8.		 The purchase of a partial interest in a closed-end mortgage loan or an open-end 

line of credit. 12 CFR 1003.3(c)(8); Comment 3(c)(8)-1. 

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Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

9.		 A closed-end mortgage loan or an open-end line of credit if the proceeds are 

used primarily for agricultural purposes or if the closed-end mortgage loan or 

open-end line of credit is secured by a dwelling that is located on real property 

that is used primarily for agricultural purposes. 12 CFR 1003.3(c)(9); Comment 

3(c)(9)-1. Regulation C directs financial institutions to Regulation Z’s official 

commentary for guidance on what is an agricultural purpose. Regulation Z’s 

official commentary states that agricultural purposes include planting, 

propagating, nurturing, harvesting, catching, storing, exhibiting, marketing, 

transporting, processing, or manufacturing food, beverages, flowers, trees, 

livestock, poultry, bees, wildlife, fish or shellfish by a natural person engaged in 

farming, fishing, or growing crops, flowers, trees, livestock, poultry, bees or 

wildlife. See Comment 3(a)-8 in the official interpretations of Regulation Z, 12 

CFR Part 1026. A financial institution may use any reasonable standard to 

determine the primary use of the property, and may select the standard to apply 

on a case-by-case basis. Comment 3(c)(9)-1. 

10. A closed-end mortgage loan or an open-end line of credit that is or will be made 

primarily for business or commercial purposes, unless it is a home improvement 

loan, a home purchase loan, or a refinancing. 12 CFR 1003.3(c)(10). Not all 

transactions that are primarily for a business purpose are excluded transactions. 

Thus, a financial institution must collect, record, and report data for dwellingsecured, business-purpose loans and lines of credit that are home improvement 

loans, home purchase loans, or refinancings if no other exclusion applies. For 

more information on determining whether a loan or line of credit is a home 

purchase loan, home improvement loan, or refinancing, see 12 CFR 1003.2(f),(i), 

(j), and (p) and the associated commentary. See also, HMDA Small Entity 

Compliance Guide, Section 5.7, available in Appendix B of this Guide. 

Regulation C provides that, if a closed-end mortgage loan or an open-end line 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 18 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

of credit is deemed to be primarily for a business, commercial, or organizational 

purpose under Regulation Z, 12 CFR 1026.3(a), and its official commentary, 

then the loan or line of credit also is deemed to be primarily for a business or 

commercial purpose. Comment 3(c)(10)-2. For more information and 

examples of business-purpose or commercial-purpose transactions that are 

and are not covered loans, see Comments 3(c)(10)-3 and -4. 

11. A closed-end mortgage loan if the financial institution originated fewer than 25 

closed-end mortgage loans in either of the two preceding calendar years. 12 

CFR 1003.3(c)(11). A financial institution is not required to collect, record, or 

report closed-end mortgage loans if it originated fewer than 25 of them in either 

of the two preceding calendar years. However, the financial institution may still 

be required to collect and report information regarding open-end lines of credit, 

depending on the number of open-end lines of credit it originated in the 

preceding two calendar years. Comment 3(c)(11)-1. For more information on 

how to determine if a financial institution “originated” a particular loan when 

multiple entities are involved in the transaction, see Comments 4(a)-2 through -

4. See also HMDA Small Entity Compliance Guide, Section 4.2.3, available in 

Appendix B of this Guide. 

A financial institution may report applications for, originations of, and purchases 

of closed-end mortgage loans that are excluded transactions under 12 CFR 

1003.3(c)(11). However, a financial institution that chooses to report such 

excluded applications, originations, and purchases must report all such 

applications it received for closed-end mortgage loans, all closed-end mortgage 

loans it originates, and all closed-end mortgage loans it purchases that would 

otherwise be covered loans for a given calendar year. 12 CFR 1003.3(c)(11); 

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Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

Comment 3(c)(11)-2. Regulation B permits a financial institution to collect 

information regarding the ethnicity, race, and sex of an applicant for a closedend mortgage loan that is an excluded transaction under 12 CFR 1003.3(c)(11), 

if the financial institution submits HMDA data concerning such closed-end 

mortgage loans and applications or if it submitted such HMDA data for any of 

the preceding five calendar years.11 

12. An open-end line of credit if the number of open-end lines of credit that the 

financial institution originated in either of the two preceding calendar years does 

not meet or exceed the applicable threshold. 12 CFR 1003.3(c)(12); Comment 

3(c)(12)-1. Effective January 1, 2018 until December 31, 2021, the applicable 

threshold is 500 open-end lines of credit. During this time period, a financial 

institution is not required to collect, record, or report open-end lines of credit if it 

originated fewer than 500 of them in either of the two preceding calendar years. 

For more information on how to determine if a financial institution “originated” a 

particular line of credit when multiple entities are involved in the transaction, see 

Comments 4(a)-2 through -4. See also HMDA Small Entity Compliance Guide, 

Section 4.2.3, available in Appendix B of this Guide. 

A financial institution may report applications for, originations of, or purchases of 

open-end lines of credit that are excluded transactions under 12 CFR 

1003.3(c)(12). However, a financial institution that chooses to report such 

excluded applications, originations, or purchases must report all applications for 

11 Amendments to Equal Credit Opportunity Act (Regulation B) Ethnicity and Race Information 

Collection, 82 FR 45680 (Oct. 2, 2017) (October 2017 Regulation B Amendments). This final 

rule amends Regulation B to allow creditors flexibility in complying with Regulation B to 

facilitate compliance with Regulation C and transition to the 2016 Uniform Residential Loan 

Application (URLA). 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 20 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

otherwise covered open-end lines of credit that it receives, all otherwise covered 

open-end lines of credit it originates, and all otherwise covered open-end lines 

of credit it purchases that would otherwise be covered loans for a given 

calendar year. 12 CFR 1003.3(c)(12); Comment 3(c)(12)-2. Regulation B 

permits a financial institution to collect information regarding the ethnicity, race, 

and sex of an applicant for an open-end line of credit that is an excluded 

transaction under 12 CFR 1003.3(c)(12), if it submits HMDA data concerning 

such open-end lines of credit and applications or if it submitted such HMDA data 

for any of the preceding five calendar years.12 

13. A transaction that provided (or, in the case of an application, proposed to 

provide) new funds to the borrower in advance of being consolidated in a New 

York CEMA classified as a supplemental mortgage under New York Tax Law 

section 255. However, the transaction is excluded only if final action on the 

consolidation was taken in the same calendar year as the final action on the 

new funds transaction. 12 CFR 1003.3(c)(13). Additionally, the transaction is 

excluded only if, at the time that it originated the transaction providing the new 

funds, the financial institution intended to consolidate the loan into a New York 

CEMA. This exclusion does not apply to similar preliminary transactions that 

are consolidated pursuant to laws other than New York Tax Law section 255. 

Such preliminary transactions under other laws must be reported if they are 

covered loans and are not covered by another exclusion. Comment 3(c)(13)-1. 

New funds provided in advance of being consolidated into a New York CEMA 

classified as a supplemental mortgage under New York Tax Law section 255 

are reported only insofar as they form part of the total amount of the reported 

New York CEMA. They are not reported as a separate amount. If a New York 

CEMA that consolidates an excluded preliminary transaction is carried out in a 

12 October 2017 Regulation B Amendments. 

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Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

transaction involving an assumption, the financial institution reports the New 

York CEMA and does not report the preliminary transaction separately. 

Comment 3(c)(13)-1. 

REPORTABLE ACTIVITY 

Once a financial institution has determined whether a transaction involves a covered 

loan, it must determine whether it has engaged in activity that obligates it to report 

information about the transaction. Generally, a financial institution is required to 

report information for actions taken on applications (as that term is defined below) for 

covered loans, originations of covered loans, and purchases of covered loans. If a 

financial institution receives an application and that application results in the financial 

institution originating a covered loan, the financial institution reports the origination of 

the covered loan, and does not separately report the application. For more 

information on when to report information regarding applications and covered loans, 

see APPLICATIONS, PREAPPROVAL REQUESTS, and ORIGINATIONS AND PURCHASES OF 

COVERED LOANS, below, and Sections 4.2.1 and 4.2.2 of the HMDA Small Entity 

Compliance Guide, available in Appendix B of this Guide. There are special rules 

that apply if multiple entities are involved in the transaction. These special rules are 

discussed in TRANSACTION INVOLVING MULTIPLE ENTITIES, below, and Section 4.2.3 of 

the HMDA Small Entity Compliance Guide, available in Appendix B of this Guide. 

Certain financial institutions may be eligible for partial exemptions for certain 

transactions. If a financial institution is eligible for a partial exemption, then the 

financial institution is not required to collect, record, or report certain data points for 

the transaction that qualifies for the partial exemption. Partial exemptions are 

discussed in PARTIAL EXEMPTIONS below and in Section 4.3 of the HMDA Small 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 22 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

 

Entity Compliance Guide, available in Appendix B of this Guide. 

APPLICATIONS 

For purposes of Regulation C, an application is: 

a.		 an oral or written request 

b.		 for a covered loan 

c.		 that is made in accordance with procedures the financial institution uses for the 

type of credit requested. 12 CFR 1003.2(b)(1). 

PREAPPROVAL REQUESTS 

Under Regulation C, a request for a preapproval may be treated differently than a 

request for a prequalification for certain types of loans. The determination of whether 

a request is a prequalification request (which is not an application) or a preapproval 

request (which might be an application) is based on Regulation C, not on the labels 

that a financial institution uses or interpretations of other regulations, such as 

Regulation B. 

A preapproval request is an application under Regulation C if the request is: 

1.		 For a home purchase loan; 

2.		 Not secured by a multifamily dwelling; 

3.		 Not for an open-end line of credit or for a reverse mortgage; and 

4.		 Reviewed under a preapproval program (see definition of preapproval program 

immediately below). 12 CFR 1003.2(b)(2). 

A preapproval program for purposes of Regulation C is a program in which the 

financial institution: 

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Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

1.		 Conducts a comprehensive analysis of the applicant’s creditworthiness 

(including income verification), resources, and other matters typically reviewed 

as part of the financial institution’s normal credit evaluation program; and then 

2.		 Issues a written commitment that: (a) is for a home purchase loan; (b) is valid 

for a designated period of time and up to a specified amount; and (c) is subject 

only to specifically permitted conditions. 12 CFR 1003.2(b)(2); Comment 2(b)-3. 

The written commitment issued as part of the preapproval program can be subject to 

only the following types of conditions: 

1.		 Conditions that require the identification of a suitable property; 

2.		 Conditions that require that no material change occur regarding the applicant’s 

financial condition or creditworthiness prior to closing; and 

3.		 Limited conditions that (a) are not related to the applicant’s financial condition or 

creditworthiness and (b) the financial institution ordinarily attaches to a traditional 

home mortgage application. Examples of conditions ordinarily attached to a 

traditional home mortgage application include requiring an acceptable title 

insurance binder or a certificate indicating clear termite inspection and, if the 

applicant plans to use the proceeds from the sale of the applicant’s present 

home to purchase a new home, a settlement statement showing adequate 

proceeds from the sale of the present home. 12 CFR 1003.2(b)(2); Comment 

2(b)-3. 

A program that a financial institution describes as a “preapproval program” but that 

does not satisfy the Regulation C definition is not a preapproval program for purposes 

of the regulation. Comment 2(b)-3. 

If a financial institution does not regularly use procedures to consider requests but 

instead considers requests on an ad hoc basis, the financial institution is not required 

to treat the ad hoc requests as having been reviewed under a preapproval program. 

However, a financial institution should be generally consistent in following uniform 

procedures for considering such ad hoc requests. Comment 2(b)-3. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 24 
 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting,

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under Regulation C, a financial institution must collect, record, and report data 

regarding an application it receives if: (1) the application did not result in the financial 

institution originating a covered loan; and (2) the financial institution took action on the 

application or the applicant withdrew the application while the financial institution was 

reviewing it. For example, a financial institution reports information regarding an 

application that it denied, that it approved but the applicant did not accept, or that it 

closed for incompleteness. 12 CFR 1003.4(a) and 1003.5(a); Comment 4(a)-1. 

If the application results in the financial institution originating a covered loan, the 

financial institution reports the covered loan, not the application itself. For more 

information on reporting applications when multiple entities are involved, see 

TRANSACTIONS INVOLVING MULTIPLE ENTITIES, below, and in Section 4.2.3 of the HMDA 

Small Entity Compliance Guide, available in Appendix B of this Guide. 

Although requests under preapproval programs are applications, a financial institution 

reports data regarding a request under a preapproval program only if the preapproval 

request is denied or approved but not accepted. A financial institution will also report 

a request under a preapproval program that results in the financial institution 

originating a home purchase loan, but it will be reported as an originated covered 

loan. Comment 4(a)-1.ii. 

A financial institution reports the data for an application, including a reportable 

preapproval request, on its HMDA Loan/Application Register (LAR) for the calendar 

year during which it takes action even if the financial institution received the 

application in a previous calendar year. Comment 4(a)-1.iv. 

ORIGINATIONS AND PURCHASES OF COVERED LOANS 

A financial institution must collect, record, and report information regarding 

originations and purchases of covered loans. For more information on when a 

financial institution reports the origination or purchase of a covered loan when multiple 

25 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

entities are involved, see TRANSACTIONS INVOLVING MULTIPLE ENTITIES, below, and in 

Section 4.2.3 of the HMDA Small Entity Compliance Guide, available in Appendix B 

of this Guide. A purchase includes a repurchase of a covered loan, regardless of 

whether the financial institution chose to repurchase the covered loan or was required 

to repurchase it because of a contractual obligation and regardless of whether the 

repurchase occurred within the same calendar year that the covered loan was 

originated or in a different calendar year. Comment 4(a)-5. 

A purchase does not include a temporary transfer of a covered loan to an interim 

funder or warehouse creditor as part of an interim funding agreement under which the 

financial institution that originated the covered loan is obligated to repurchase it for 

sale to a subsequent investor. Such funding agreements are often referred to as 

“repurchase agreements” and are sometimes used as the functional equivalents of 

warehouse lines of credit. Comment 4(a)-5. 

TRANSACTIONS INVOLVING MULTIPLE ENTITIES 

Only one financial institution reports the origination of a covered loan. If more than 

one institution is involved in the origination of a covered loan, the institution that 

makes the credit decision approving the application before loan closing or account 

opening is responsible for reporting the origination of the covered loan. It is not 

relevant whether the loan closed in the reporting financial institution’s name. If more 

than one institution approved an application prior to loan closing or account opening 

and one of those institutions purchased the covered loan after closing or account 

opening, the institution that purchased the covered loan after closing or account 

opening is responsible for reporting the origination of the covered loan. Comment 

4(a)-2.i. 

If a financial institution reports a covered loan as an origination, it reports all of the 

information required to be reported for the origination of a covered loan, even if the 

covered loan was not initially payable to the financial institution that is reporting the 

covered loan as an origination. Comment 4(a)-2.i. When reporting a covered loan 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 26 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

as an origination, a financial institution cannot rely on exceptions or exclusions that 

apply to purchased covered loans, but that do not apply to originations of covered 

loans. See comment 4(a)-2.i. 

In the case of an application for a covered loan that did not result in an origination, a 

financial institution reports the action it took on that application if it made a credit 

decision on the application or was reviewing the application when the application was 

withdrawn or closed for incompleteness. For example, the financial institution is still 

required to report the application if the financial institution denied the application or if 

the financial institution approved the application but the applicant did not accept the 

loan. The financial institution is also required to report the application if the financial 

institution was reviewing the application when it was withdrawn or the file was closed 

for incompleteness. Comment 4(a)-2.ii. 

If a financial institution makes a credit decision on a covered loan or application 

through the actions of an agent, the financial institution reports the covered loan or 

application. State law determines whether one party is the agent of another party. 

Comment 4(a)-4. 

The following examples illustrate when a financial institution reports certain 

transactions related to covered loans involving multiple entities. 

EXAMPLES 

1.		 Ficus Bank receives an application for a covered loan from an applicant and 

forwards that application to Pine Bank, which reviews and approves the 

application prior to closing. The loan closes in Ficus Bank’s name. Pine Bank 

purchases the loan from Ficus Bank after closing. Pine Bank is not acting as 

Ficus Bank’s agent when it reviews and approves the application. Because 

Pine Bank made the credit decision prior to closing, Pine Bank reports the 

transaction as an originated covered loan, not as a purchased covered loan. 

Ficus Bank does not report the transaction. 

27 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

Summary of 

Requirements 

Institutional		

Coverage 

Transactional		

Coverage 

 Covered Loans 

 Reportable Activity 

 Transaction involving 

Multiple Entities 

 Partial Exemptions 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

2.		 Ficus Mortgage Company receives an application for a covered loan from an 

applicant and forwards that application to Pine Bank, which reviews and denies 

the application before the loan would have closed. Pine Bank is not acting as 

Ficus Mortgage Company’s agent when it reviews and denies the application. 

Because Pine Bank makes the credit decision, Pine Bank reports the application 

as denied. Ficus Mortgage Company does not report the application. If, under 

the same facts, the application is withdrawn before Pine Bank makes a credit 

decision, Pine Bank reports the application as withdrawn, and Ficus Mortgage 

Company does not report the application. 

3.		 Ficus Bank receives an application for a covered loan from an applicant and 

approves the application. Ficus Bank closes the loan in its name. Ficus Bank is 

not acting as Pine Bank’s agent when it approves the application or closes the 

loan. Pine Bank does not review the application before closing. Pine Bank 

purchases the covered loan from Ficus Bank. Ficus Bank reports the loan as an 

originated covered loan. Pine Bank reports the loan as a purchased covered 

loan. 

4.		 Pine Bank reviews an application and makes a credit decision to approve a 

covered loan using the underwriting criteria provided by Ficus Mortgage 

Company. Pine Bank is not acting as Ficus Mortgage Company’s agent, and no 

one acting on behalf of Ficus Mortgage Company reviews the application or 

makes a credit decision prior to closing. Pine Bank reports the application or, if 

the application results in a covered loan, it reports the loan as an originated 

covered loan. If the application results in a covered loan and Ficus Mortgage 

Company purchases it after closing, Ficus Mortgage Company reports the loan 

as a purchased covered loan. 

5.		 Ficus Bank receives an application for a covered loan and forwards it to Aspen 

Bank and Pine Bank. Ficus Bank makes a credit decision, acting as Elm Bank’s 

agent, and approves the application. Pine Bank makes a credit decision and 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 28 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

denies the application. Aspen Bank makes a credit decision approving the 

application. The applicant does not accept the loan from Elm Bank. The 

applicant accepts the loan from Aspen Bank and credit is extended. Aspen 

Bank reports the loan as an originated covered loan. Pine Bank reports the 

application as denied. Elm Bank reports the application as approved but not 

accepted. Ficus Bank does not report the application. 

PARTIAL EXEMPTIONS 

The 2018 Act created partial exemptions from some of HMDA’s requirements for 

certain financial institutions. Only certain covered loans and applications are covered 

under each of the two partial exemptions. The partial exemptions were effective May 

24, 2018, and apply to the collection, recording, and reporting of HMDA data on or 

after that date. 

In order to be eligible for a partial exemption, a financial institution must be an: 

1.		 “Insured credit union,” as defined in section 101 of the Federal Credit Union Act, 

12 U.S.C. 1752; or 

2.		 “Insured depository institution,” as defined in section 3 of the Federal Deposit 

Insurance Act, 12 U.S.C. 1813. 

Additionally, an insured depository institution must not have received less than 

satisfactory ratings in its most recent Community Reinvestment Act (CRA) 

performance evaluations to be eligible for a partial exemption. More specifically, an 

insured depository institution must not have received either of the following: 

1.		 A rating of “needs to improve record of meeting community credit needs” during 

each of its two most recent examinations under section 807(b)(2) of the CRA; or 

29 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

2.		 A rating of “substantial noncompliance in meeting community credit needs” on 

its most recent examination under section 807(b)(2) of the CRA. 

The CRA ratings used to determine if an insured depository institution is eligible for a 

partial exemption are the institution’s two most recent ratings as of December 31 of 

the preceding year. 

In order for a partial exemption to apply to an application or covered loan (including a 

purchased covered loan), an eligible financial institution must also meet the applicable 

loan-volume threshold. The 2018 HMDA Rule clarified that only loans that are 

otherwise reportable under Regulation C count towards the thresholds for partial 

exemptions. A reportable loan under Regulation C is a loan that meets the definition 

of closed-end mortgage loan under section 1003.2(d) or open-end line of credit under 

section 1003.2(o), and that the transaction is not excluded under section 1003.3(c)(1) 

through (10) or (13). 

A partial exemption applies to an eligible financial institution’s applications for 

originations of, and purchases of closed-end mortgage loans if the institution 

originated fewer than 500 closed-end mortgage loans in each of the two preceding 

calendar years. 

A partial exemption applies to an eligible financial institution’s applications for, 

originations of, and purchases of open-end lines of credit if the institution originated 

fewer than 500 open-end lines of credit in each of the two preceding calendar years. 

The partial exemption for closed-end mortgage loans and the partial exemption for 

open-end lines of credit operate independently of one another. Thus, in a given 

calendar year, an eligible financial institution may be able to rely on one partial 

exemption but not the other. For example, Ficus Bank is an insured depository 

institution as defined in Section 3 of the Federal Deposit Insurance Act, and it 

received satisfactory ratings in its two most recent CRA examinations as of December 

31, 2019. In 2018, Ficus Bank originated 400 closed-end mortgage loans and 510 

open-end lines of credit. In 2019, Ficus Bank originated 490 closed-end mortgage 

loans and 515 open- end lines of credit. In 2020, a partial exemption applies to Ficus 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 30 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

 Covered Loans
	

 Reportable Activity
	

 Transaction involving
	

Multiple Entities
	

 Partial Exemptions
	

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

Bank’s closed-end mortgage loan transactions, but a partial exemption does not apply 

to Ficus Bank’s open-end line of credit transactions. Additionally, because Ficus Bank 

originated at least 500 open-end lines of credit in both 2018 and 2019, Ficus Bank 

cannot exclude open-end lines of credit from its reportable transactions in 2020 (i.e., 

they are not excluded transactions). 

The 2018 Act created partial exemptions, not complete exclusions. Therefore, if a 

covered loan or application is covered by a partial exemption, the financial institution 

is required to collect, record, and report 22 specific data points specified in 12 CFR 

1003.4(a)(1) through (38), but is exempt from collecting, recording, and reporting 26 

other specific data points for that transaction. See Appendix F for a list of data points 

that do not need to be collected, recorded, or reported if the transaction is covered by 

a partial exemption and a list of data points that must be collected, recorded, and 

reported if the transaction is covered by a partial exemption. 

At its option, an eligible financial institution may voluntarily report any or all of these 26 

data points for a covered loan or application covered by a partial exemption. 

APPLICATION OF PARTIAL EXEMPTIONS AFTER A MERGER OR ACQUISITION 

After a merger or acquisition, the surviving or newly formed institution falls below the 

loan threshold described in § 1003.3(d)(2) or (3) if the combined lending activity of the 

surviving or newly formed institution and the merged or acquired institutions or 

acquired branches falls below the loan threshold described in § 1003.3(d)(2) or (3). 

After a merger or acquisition, the surviving or newly formed institution is ineligible for 

the partial exemptions if either the surviving or newly formed institution or any of the 

merged or acquired institutions received a rating of “needs to improve record of 

meeting community credit needs” during each of its two most recent CRA 

examinations or a rating of “substantial noncompliance in meeting community credit 

needs” on its most recent CRA examination. Comments 3(d)-1 through -3. 

31 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

 

 

For more information on the partial exemptions, see Section 4.3 of the HMDA Small 

Entity Compliance Guide, available in Appendix B of this Guide. 

Compilation of Reportable Data: What is 

Reported? 

Appendix A of this Guide contains a summary of the data points required to be 

collected, recorded, and reported beginning in 2018, and where to find specific 

guidance in the regulation and commentary on what should be included for each data 

point.13 Each data point may correspond to more than one field reported on the 

HMDA LAR. Unless a partial exemption applies, there are 48 data points described in 

Regulation C and 110 fields reported on the HMDA LAR. One example of a data 

point that corresponds to multiple fields is the ethnicity data point. Each applicant and 

co-applicant may enter up to five ethnicities on their application. See 12 CFR 

1003.4(a)(10)(i); Appendix B to Part 1003. 

Additional information on the fields and codes used in preparing the HMDA LAR are 

provided in the Filing Instructions Guide, available at ffiec.cfpb.gov. 

Where to Look: Regulation C’s reportable data criteria are found in 12 CFR 1003.4 and 

the associated commentary, available in Appendix H and I of this Guide. You may also want to 

review Section 5 of the HMDA Small Entity Compliance Guide available in Appendix B of this 

Guide. 

13 Additionally, Section 5 of the CFPB’s HMDA Small Entity Compliance Guide, available in 

Appendix B of this Guide, contains a plain language guide for the reportable data, including 

examples from the commentary. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 32 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

 Applicant Information 

Recording, Reporting, 

and Disclosure 

 

 

 

 

 

 

 

 

 

APPLICANT INFORMATION 

A financial institution must report information about ethnicity, race, and sex, as well as 

age, for applicants who are natural persons. Appendix B to Regulation C provides 

instructions on how to collect ethnicity, race, and sex information, and is available in 

Appendix H of this Guide. 14 

14 Section 5.1 of the CFPB’s HMDA Small Entity Compliance Guide, available in Appendix B 

of this Guide, contains a plain language guide for collecting and reporting application 

information. Further, Appendix C of this Guide contains the CFPB’s chart on Collecting 

Ethnicity, Race, and Sex. 

33 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

 

 

 

 

 

 

 

 

 

 

 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

Recording, Reporting, and Disclosure: When 

is it Reported? 

Where to Look: Regulation C’s Recording, Reporting, and Disclosure criteria are found 

within 12 CFR 1003.5 and the associated commentary, available in Appendix H and I of this 

Guide. You may also want to review Section 6 of the HMDA Small Entity Compliance Guide 

available in Appendix B of this Guide. 

RECORDING 

Regulation C requires a financial institution to record the data about a covered loan or 

application on a HMDA LAR within 30 calendar days after the end of the calendar 

quarter in which the financial institution takes final action on the covered loan or 

application. 12 CFR 1003.4(f). A financial institution is not required to record all of its 

HMDA data for a quarter on a single HMDA LAR. Rather, a financial institution may 

record data on a single HMDA LAR or may record data on one or more HMDA LARs 

for different branches or different loan types (such as home purchase loans or home 

improvement loans, or loans on multifamily dwellings). Comment 4(f)-1. 

Other State or Federal regulations may require a financial institution to record its data 

on a HMDA LAR more frequently. Comment 4(f)-2. 

Financial institutions may maintain their quarterly records in electronic or any other 

format, provided they can make the information available to their regulatory agencies 

in a timely manner upon request. Comment 4(f)-3. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 34 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

 

 

 

 

 

 

 

 

 

 

 

REPORTING 

In addition to the required data discussed in 12 CFR 1003.4 and Section 5 of the
	

HMDA Small Entity Compliance guide, available in Appendix B of this Guide,
	

effective January 1, 2019, a financial institution must include the following when it
	

submits its HMDA data:
	

1.		 Its name; 

2.		 The calendar year the data submission covers; 

3.		 The name and contact information for a person who can be contacted with 

questions about the submission; 

4.		 The financial institution’s appropriate Federal HMDA reporting agency; 

5.		 The total number of entries in the submission; 

6.		 The financial institution’s TIN; and 

7.		 The financial institution’s LEI. 12 CFR 1003.5(a)(3). 

If the appropriate Federal HMDA reporting agency for a financial institution changes, 

the financial institution must identify its new appropriate Federal HMDA reporting 

agency in its annual submission for the year of the change. Comment 5(a)-2. For 

example, if a financial institution’s appropriate Federal HMDA reporting agency 

changes in February 2020, it must identify its new appropriate Federal HMDA 

reporting agency beginning with its annual submission of 2020 data by March 1, 2021. 

If a financial institution obtains a new TIN, it must provide the new TIN in its 

subsequent data submissions. For example, if two financial institutions that previously 

reported HMDA data merge and the surviving financial institution retained its LEI but 

obtained a new TIN, the surviving financial institution reports the new TIN beginning 

with its next HMDA data submission. Comment 5(a)-5. 

35 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

 

 

 

A financial institution that is a subsidiary of a bank or savings association must 

complete its own HMDA LAR and submit it, directly or through its parent, to the 

appropriate Federal HMDA reporting agency for the subsidiary’s parent. 12 CFR 

1003.5(a)(2). A financial institution is a subsidiary of a bank or savings association 

(for purposes of reporting HMDA data to the same agency as the parent) if the bank or 

savings association holds or controls an ownership interest in the financial institution 

that is greater than 50 percent. Comment 5(a)-3. 

ANNUAL REPORTING 

Regulation C maintains the annual reporting requirement, but requires financial 

institutions to submit data electronically in accordance with the procedures published 

by the CFPB. 12 CFR 1003.5(a)(5). This Guide does not provide detailed information 

about the HMDA submission process, or file, data, and edit specifications. Information 

about those topics can be found in the FFIEC’s Help for Filers section, available at 

ffiec.cfpb.gov and How to File section, available at www.ffiec.gov/hmda/. 

Under Regulation C, a financial institution must submit its annual HMDA LAR in 

electronic format to its appropriate Federal HMDA reporting agency by March 1 of the 

year following the calendar year for which the data are collected. 12 CFR 

1003.5(a)(1)(i). An individual who is an authorized representative of the financial 

institution and who has knowledge regarding the submitted data must certify its 

accuracy and completeness. 12 CFR 1003.5(a)(1)(i). 

A financial institution must retain a copy of its submitted annual HMDA LAR for at 

least three years. 12 CFR 1003.5(a)(1)(i). Financial institutions may retain their 

annual HMDA LARs in either paper or electronic form. Comment 5(a)-4. 

For more information on reporting under Regulation C or on the electronic submission 

of data, please see ffiec.cfpb.gov. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 36 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

 

QUARTERLY REPORTING 

Effective January 1, 2020, Regulation C requires some financial institutions to report 

data on a quarterly basis as well as on an annual basis. A financial institution’s 

covered loans and applications, excluding purchased covered loans, in calendar year 

2019 will determine whether the quarterly reporting requirement will apply to the 

financial institution in 2020. 

The quarterly reporting requirement applies to a financial institution that reported at 

least 60,000 originated covered loans and applications (combined) for the preceding 

calendar year. The financial institution does not count purchased covered loans when 

determining whether the quarterly reporting requirement applies. If quarterly reporting 

is required, the financial institution must report all data required to be recorded for the 

calendar quarter within 60 calendar days after the end of the calendar quarter. The 

quarterly reporting requirement does not apply, however, to the fourth quarter of the 

year. A financial institution that is subject to the quarterly reporting requirement 

reports its fourth quarter data as part of its annual submission. In its annual 

submission, a quarterly reporter will resubmit the data previously submitted for the first 

three calendar quarters of the year, including any corrections to the data, as well as its 

fourth quarter data. 12 CFR 1003.5(a)(1)(ii). 

This Guide does not provide detailed information about the quarterly or annual HMDA 

submission process, or file, data, and edit specifications. The Filing Instructions 

Guide as well as a Supplemental Guide for Quarterly Filers can be found in the 

FFIEC’s Help for Filers section, available at ffiec.cfpb.gov and How to File section, 

available at www.ffiec.gov/hmda/. 

DETERMINING QUARTERLY REPORTING COVERAGE 

In the calendar year of a merger, Regulation C requires a surviving or newly formed 

financial institution to report quarterly, beginning with the first quarterly submission 

37 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

due date after the date of the merger, in certain circumstances. Specifically, the 

financial institution must report, if when added, together, the surviving or newly 

formed financial institution and all financial institutions that merged reported at least 

60,000 originated covered loans and applications for the preceding calendar year. 

In the calendar year of an acquisition, the surviving financial institution is required to 

report quarterly, beginning with the first quarterly submission due date after the date of 

the acquisition, in certain circumstances. Specifically, the financial institution must 

report, if when added together the surviving financial institution and acquired financial 

institution(s) or branch office(s) reported at least 60,000 originated covered loans and 

applications for the preceding calendar year. If a financial institution acquires one or 

more branch offices of another financial institution but does not acquire the financial 

institution, it is required to count only the originated covered loans and applications for 

the branch offices that it acquired. Comment 5(a)-1.ii. 

In the calendar year following a merger or acquisition, the surviving or newly formed 

financial institution is required to comply with the quarterly reporting requirements if a 

combined total of at least 60,000 originated covered loans and applications is reported 

for the preceding calendar year by or for the surviving or newly formed financial 

institution and each financial institution or branch office that merged or was acquired. 

Comment 5(a)-1.iii. 

The quarterly reporting requirement is effective January 1, 2020. 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 38 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

 

 

 

 

 

DISCLOSURE OF DATA 

DISCLOSURE STATEMENT 

Under Regulation C, the FFIEC shall provide a notice to the financial institution that 

the financial institution’s disclosure statement (aggregated data derived from loan-level 

data submitted for the prior calendar year) is available. 12 CFR 1003.5(b)(1). No later 

than three business days (any calendar day other than a Saturday, Sunday, or legal 

public holiday) after receiving notice from the FFIEC, the financial institution must 

make available to the public, upon request, a written notice that clearly conveys that 

the financial institution’s disclosure statement may be obtained on the CFPB’s website 

at www.consumerfinance.gov/hmda. 12 CFR 1003.5(b)(2); Comment 5(b)-1. A 

financial institution’s disclosure statement may also be obtained from 

ffiec.cfpb.gov. A financial institution may, but is not required to, use the sample 

notice to satisfy Regulation C’s disclosure statement requirement. A copy of the 

sample notice is included as Attachment C of the HMDA Small Entity Compliance 

Guide, available in Appendix B of this Guide. The notice may be made available in 

paper or electronic form. Comment 5(b)-2. 

A financial institution must make the notice available to the public for a period of five 

years. 12 CFR 1003.5(d)(1). 

At its discretion, a financial institution may also provide its disclosure statement and 

impose a reasonable fee for costs incurred reproducing or providing the statement. 

12 CFR 1003.5(d)(2). Even if it provides the disclosure statement, a financial 

institution must comply with the notice requirement. 

39 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

 

 

 

MODIFIED HMDA LAR15 

Upon request from a member of the public, a financial institution must provide a 

written notice regarding the availability of its modified HMDA LAR (the financial 

institution’s HMDA LAR, as modified by the CFPB to protect applicant and borrower 

privacy). The written notice must clearly convey that the financial institution’s HMDA 

LAR, as modified by the CFPB to protect borrower and applicant privacy, may be 

obtained on the CFPB’s website at www.consumerfinance.gov/hmda. 12 CFR 

1003.5(c). A financial institution’s HMDA LAR is also available at ffiec.cfpb.gov. 

A financial institution may, but is not required to, use the sample notice to satisfy 

Regulation C’s modified HMDA LAR requirement. Comment 5(c)-2. A copy of the 

sample notice is included as Attachment C of the HMDA Small Entity Compliance 

Guide, available in Appendix B of this Guide. A financial institution may, but is not 

required to, use the same notice for purposes of this disclosure requirement and the 

disclosure statement requirement discussed in the DISCLOSURE STATEMENT section 

above. See also Section 6.3.1 of the HMDA Small Entity Compliance Guide, available 

in Appendix B of this Guide. The notice may be made available in paper or 

electronic form. Comment 5(c)-1. 

The notice must be made available in the calendar year following the calendar year 

for which the financial institution collected data. The notice must be made available 

for three years. 12 CFR 1003.5(d)(1). For example, for data that it was required to 

15 On December 21, 2018, the CFPB issued final policy guidance describing modifications the 

CFPB intends to apply to the HMDA data, including modifications to protect consumers’ 

privacy, before the data are made available to the public beginning in 2019. The policy 

guidance is available www.consumerfinance.gov/policy-compliance/rulemaking/finalrules/regulation-c-home-mortgage-disclosure-act/ 

2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 40 
 

 

 

Summary of 

Requirements 

Institutional 

Coverage 

Transactional 

Coverage 

Compilation of 

Reportable Data 

Recording, 

Reporting, and 

Disclosure 

 Recording 

 Reporting 

 Disclosure of Data 

 

Comment 5(e)-1. 

 

collect in 2018 a financial institution must make available a notice that its modified 

HMDA 2018 LAR is available through calendar year 2021. At its discretion, a financial 

institution may also provide its HMDA LAR, as modified by the CFPB, and impose a 

reasonable fee for any costs incurred to reproduce or provide the data. 12 CFR 

1003.5(d)(2). Even if it decides to provide the modified HMDA LAR, a financial 

institution must comply with the notice requirement. 

POSTED NOTICES 

A financial institution must post, in the lobby of its home office and each branch office 

physically located in an MSA or Metropolitan Division (MD), a general notice about the 

availability of its HMDA data on the CFPB’s website. 12 CFR 1003.5(e). A financial 

institution may, but is not required to, use the sample notice to satisfy this 

requirement. A copy of the sample posted notice is available in Appendix K of this 

Guide and as Attachment C of the HMDA Small Entity Compliance Guide, available in 

Appendix B of this Guide. In any case, the notice must clearly convey that the 

financial institution’s HMDA data are available on the CFPB’s website at 

www.consumerfinance.gov/hmda.

16

AGGREGATED DATA 

The FFIEC will use the annual data submitted pursuant to Regulation C to make 

available aggregated data for each MSA and MD, showing lending patterns by 

property location, age of housing stock, and income level, sex, ethnicity, and race. 

12 CFR 1003.5(f). 

16 HMDA data submitted by financial institutions are also available at ffiec.cfpb.gov. 

41 | 2020 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! 
 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

APPENDIX 

The following appendices provide additional HMDA materials that you may find useful, 

including certain implementation resources provided by the CFPB that are also 

available at www.consumerfinance.gov/policy-compliance/guidance/hmdaimplementation/. 

Financial institutions may wish to consult with their Federal supervisory agencies 

regarding additional compliance resources that the agencies may offer. Agency 

websites and contact information can be found below in Appendix J. 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

Appendix APPENDIX A: Overview of Data Requirements Chart 

This following chart developed by the CFPB is intended to be used as a reference tool 

for data points required to be collected, recorded, and reported under Regulation 

C. Relevant regulation and commentary sections are provided for ease of reference. 

The chart also incorporates the information found in Section 4.2.2 of the 2020 FIG for 

ease of reference. Finally, the chart provides when to report “not applicable,” and the 

code used for reporting “not applicable” from Section 4 of the 2020 FIG for ease of 

reference. This chart does not provide data fields or enumerations used in preparing 

the HMDA LAR. For more information on preparing the HMDA LAR, please see 

ffiec.cfpb.gov. 
Effective January 1, 2020 

Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2020a This chart is intended to be used as a reference tool for data points required to be collected, recorded, and reported under Regulation C, as amended by the HMD

2015, on August 24, 2017, and on October 10, 2019.b Relevant regulation and commentary sections are provided for ease of reference. The chart also incorporate

4.2.2 of the 2020 Filing Instructions Guide and provides when to report not applicable or exempt, including the codes used for reporting not applicable or exempInstructions Guide for ease of reference. This chart does not provide data fields or enumerations used in preparing the HMDA loan/application register (LAR). F

the HMDA LAR, please see http://ffiec.cfpb.gov. 

Data point Regulation C references Description Filing instructionsc Reporting “No

(1) Legal Entity Identifier (LEI) 

§ 1003.4(a)(1)(i)( A) 

Identifier issued to the financial institution (FI) 

by a utility endorsed by the Global LEI Foundation or LEI Regulatory Oversight Committee 

Enter your financial institution’s LEI. 

Example: If your institution’s LEI is 10BX939C5543TQA1144M, enter 10BX939C5543TQA1144M. 

1 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No(2) Universal Loan Identifier (ULI) or NonUniversal Loan 

Identifier (NULI) 

§ 1003.4(a)(1)(i), Comments 4(a)(1)(i)-1 through -5, and appendix C 

ULI: Identifier assigned to identify and retrieve a loan or application 

that contains the FI’s 

LEI, an internally generated sequence of 

characters, and a check digit 

ULI. Assign and report a ULI that: 

1. Begins with the financial institution’s Legal Entity Identifier as defined 

in § 1003.4(a)(1)(i)(A). 2. Follows the Legal Entity Identifier with up to 23 additional characters to identify the covered loan or application, which: 

• May be letters, numerals, or a combination of letters and 

numerals; 

• Must be unique within the financial institution; and 

NULI: Identifier assigned to identify a 

loan or application 

• Must not include any information that could be used to directly 

identify the applicant or borrower. 

3. Ends with a two-character check digit that is calculated using the 

ISO/IEC 7064, MOD 97-10 as it appears on the International Standard 

ISO/IEC 7064:2003, which is published by the International Organization for Standardization (ISO). 

A check digit can be generated by: 

• Using the check digit tool. Information regarding the check digit 

tool will be located at https://ffiec.cfpb.gov/tools/check-digit; or 

• Applying the procedures provided in appendix C to Regulation 

C. 

ULI Example: 10BX939c5543TQA1144M999143X99 

LEI Loan or 

Application 

Identifier 

Check 

Digit 

2 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

NULI. If not reporting a ULI per the 2018 HMDA Rule, assign and report a NULI that: 1. Is composed of up to 22 characters, which may include letters, numerals, or a combination of letters and numerals. 

2. Is unique within the insured depository institution or insured credit 

union. 3. Does not include any information that could be used to directly identify the applicant or borrower. 

NULI Example: 999143X 

(3) Application Date 

§ 1003.4(a)(1)(ii), Comments 4(a)(1)(ii)-1 through -3 

Date the application was received or the date on the application form 

Enter, in numeral form, the date the application was received or the date shown on the application form by year, month, and day, using 

YYYYMMDD format. 

Example: If the application was received on July 21, 2020, enter 

20200721. 

Enter “NA” for pu§ 1003.4(a)(1)(ii) 

(4) Loan Type § 1003.4(a)(2), 

Comment 4(a)(2)-1 

Whether the loan or application is insured by the Federal Housing Administration, guaranteed by the Department of Veterans Affairs, Rural 

Housing Service, or 

Farm Service Agency 

Indicate the type of covered loan or application by entering: 

• Code 1—Conventional (not insured or guaranteed by FHA, VA, 

RHS, or FSA) 

• Code 2—Federal Housing Administration insured (FHA) • Code 3—Veterans Affairs guaranteed (VA) • Code 4—USDA Rural Housing Service or Farm Service Agency 

guaranteed (RHS or FSA) 

3 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

(5) LoanPurpose 

§ 1003.4(a)(3), Comments 4(a)(3)-1 through -6 

Whether the transaction is for home purchase, home improvement, refinancing, cash-out 

refinancing, or another 

purpose 

Indicate the purpose of the covered loan or application by entering: To report not a

purchased covplace prior to J

• Code 1—Home purchase • Cod 2e —Home improvement • Code 31—Refinancing • Code 32—Cash-out refinancing• Cod 4e —Other purpose• Code 5—Not applicable

(6) Preapproval § 1003.4(a)(4), 

Comments 4(a)(4)-1 and -2 

Whether the transaction involved a preapproval request for a home purchase loan under a preapproval 

program 

Indicate preapproval for a covered loan or application by entering: 

• Cod 1e —Preapproval requested 

• Code 2—Preapproval not requested 

(7) ConstructionMethod

§ 1003.4(a)(5), Comments 4(a)(5)-1 through -3 

Whether the dwelling is site-built or a manufactured home 

Indicate the construction method for the dwelling by entering: 

• Code 1—Site-built 

• Code 2—Manufactured home 

(8) OccupancyType

§ 1003.4(a)(6), Comments 4(a)(6)-1 through -5 

Whether the property will be used as a 

principal residence, second residence, or investment property 

Indicate the occupancy type by entering: 

• Code 1—Principal residence • Code 2—Second residence • Code 3—Investment property 

(9) Loan 

Amount 

§ 1003.4(a)(7), Amount of the loan or 

the amount applied for 

Enter, in dollars, the amount of the covered loan, or the amount applied for, as applicable. 

4 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references Comments 4(a)(7)-1 through -9 

Example: If the loan amount is $110,500, enter 110500 or 110500.00. If the loan amount is $110,500.24, enter 110500.24. 

(10) Action Taken and (11) Action Taken 

Date 

§ 1003.4(a)(8), Comments 4(a)(8)(i)-1 through -14 and 4(a)(8)(ii)-1 through -6 

Type and date of 

action the FI took on 

the loan, application, or 

preapproval request 

ACTION TAKEN. Indicate the action taken on the covered loan or application by entering: 

• Code 1—Loan originated • Code 2—Application approved but not accepted • Code 3—Application denied • Code 4—Application withdrawn by applicant • Code 5—File closed for incompleteness • Code 6—Purchased loan • Code 7—Preapproval request denied 

• Code 8—Preapproval request approved but not accepted 

ACTION TAKEN DATE. Enter, in numeral form, the date of action taken by year, month, and day, using YYYYMMDD format. 

Example: If the action taken date is July 21, 2020, enter 20200721. 

(12) Property Address 

§ 1003.4(a)(9)(i), Comments 4(a)(9)-1 through -5 and 4(a)(9)(i)-1 through -3 

Address of the property securing the loan (or proposed to secure a loan) 

STREET ADDRESS. Enter the street address of the property as one 

(1) data field. U.S. Postal Service Publication 28, Subsections 231–239, 

can be used as a guide for formatting the street address to help improve geocoding accuracy. Address components include, as 

applicable, the following individual items: 

Enter “NA” in e

• Covered loa

address of 

is not know

property ad

address wathe applicatfor incompl

• Primary Address Number • Predirectional • Street Name • Prefix 

• Suffix 

5 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

• Postdirectional • Secondary Address Identifier, such as apartment 

• Secondary Address, such as apartment number

CITY. Enter the city of the property as one (1) data field.STATE. Enter the two letter state code of the property as one (1) datafield.

ZIP CODE. Enter the ZIP code of the property as one (1) data field.NON-STANDARD ADDRESSING. U.S. Postal Service Publication 28, Subsection 24, 25, and 29, respectively, can be used as guides for formatting non-standard style addressing including rural route, Highway Contract Route, and Puerto Rico addresses to increase the accuracy for geocoding. The following address formats are generally not preferred: 

• General Delivery addresses, such as General Delivery, Anytown, 

CA 90049-9998. 

• Post Office Box addresses, such as P.O. Box 100 Anytown, CA 

90049-9998. 

• Spelled-out numbers, such as Four Hundred Fifty Six W 

Somewhere Ave Apt Two Hundred One. 

• Covered loa

manufacturComment 4

STATE ONLYreporting is not 

financial institu

the Property Apermitted to reProperty Locatreport not appl

Enter “ExemptCode fields if, Rule, your instAddress. 

(13), (14), and (15) Property Location 

§ 1003.4(a)(9)(ii), Comments 4(a)(9)-1 through -5, 4(a)(9)(ii)-1, 4(a)(9)(ii)(A)-1, 4(a)(9)(ii)(B)-1 

Location of the property securing the loan (or proposed to secure a loan) by state, county, and census tract 

COUNTY. Enter the five-digit Federal Information Processing Standards (FIPS) numerical code for the county. Do not use commas. 

Example: Enter 06037 for the FIPS code for Los Angeles County, CA. 

Enter “NA” for: 

• Application

tract in whicbefore the aclosed for in

6 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

and -2, and 4(a)(9)(ii)(C)-1 and -2 

CENSUS TRACT. Enter the 11-digit census tract number as defined by the U.S. Census Bureau. Do not use decimals. 

Example: Enter 06037264000 for a census tract within Los Angeles County, CA. 

STATE. Enter the two letter state code of the property as one (1) data field. 

4(a)(9)(ii)(A2. 

• Covered loa

manufacturComment 4

• Covered loa

not located (MSA) or Minstitution hinstitution is 

business, sdevelopmeimplement t1977, § 100

• CENSUS T

applications with a poputhe most rethe U.S. Ce

NOTE: For tran

census tract re§ 1003.4(a)(9)(may report that they may voluncensus tract inf

7 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

STATE ONLYreporting is not financial instituthe Property Lopermitted to reAddress. See applicable for P

(16) Ethnicity, § 1003.4(a)(10)(i 

), Comments 4(a)(10)(i)-1 and -2 and appendix B 

Applicant’s or borrower’s ethnicity, race, and sex, and if information was 

collected by visual observation or surname 

ETHNICITY OF APPLICANT OR BORROWER. Indicate the ethnicity of the applicant or borrower, or of the first co-applicant or co-borrower, as applicable, by entering up to five (5): 

• Code 1—Hispanic or Latino 

oo

oo

Code 11—Mexican 

Code 12—Puerto Rican Code 13—Cuban 

Code 14—Other Hispanic or Latino 

NOTE: If the applicant or borrower, or any co-applicant or coborrower, did not select Code 14, but provided an other Hispanic 

or Latino ethnicity(ies) in the Ethnicity Free Form Text Field for Other Hispanic or Latino, your institution is permitted, but not required, to report Code 14 in one of the Ethnicity of Applicant or Borrower data fields. This will be counted as one of the five (5) 

reported ethnicities, whether or not you also choose to report Code 14 as one of the Ethnicity of Applicant or Borrower, or Ethnicity of Co-Applicant or Co-Borrower, data fields. See below for information about the Ethnicity Free Form Text Field for Other Hispanic or Latino. 

• Code 2—Not Hispanic or Latino 

To report not aEthnicity of Afor Ethnicity CObservation o

• Purchased 

institution cco-applicanB; 

• Covered loa

co-applican

NOTE: Use Co

Basis of Visuafinancial instituJanuary 1, 201chooses not to applicant or boco-borrower, abasis of visual 4(a)(10)(i)-2 

8 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

• Code 3—Information not provided by applicant in mail, internet, or 

telephone application 

NOTE: Use Code 3 if the applicant or borrower, or co-applicant 

or co-borrower does not provide the information in an application taken by mail, internet, or telephone. Leave the remaining Ethnicity of Applicant or Borrower data fields blank. 

• Code 4—Not applicable 

NOTE: Use Code 4 if the requirement to report the applicant’s or 

borrower’s ethnicity does not apply to the covered loan or application that your institution is reporting. Leave the remaining Ethnicity of Applicant or Borrower data fields blank. 

• Code 5—No co-applicant 

NOTE: Use Code 5 in the co-applicant field if there are no coapplicants or co-borrowers. Leave the remaining Ethnicity of 

Applicant or Borrower data fields blank. 

If there is more than one co-applicant or co-borrower, provide the required information only for the first co-applicant or co-borrower listed 

on the collection form. Do not enter the same code more than once for the applicant or borrower, or any co-applicant or co-borrower, as applicable, for any covered loan or application. If fewer than five (5) ethnicities are provided by the applicant or borrower, or by any co-applicant or co-borrower, leave the remaining Ethnicity of Applicant or Borrower data fields blank. 

9 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

ETHNICITY FREE FORM TEXT FIELD. Enter the specific other Hispanic or Latino ethnicity(ies) not listed above, if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable. For example, enter Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, or Spaniard, and so on, if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable. Enter more than one other Hispanic or Latino ethnicity, if provided by the applicant or borrower, or by any co-applicant or coborrower, as applicable. The maximum number of characters for this field is 100 characters, including spaces. If the applicant or borrower, or any co-applicant or co-borrower, did not provide an other Hispanic or Latino ethnicity(ies), leave this field blank. 

ETHNICITY COLLECTED ON THE BASIS OF VISUAL OBSERVATION OR SURNAME. Indicate whether the ethnicity of the applicant or borrower, or of the first co-applicant or co-borrower, as applicable, was collected on the basis of visual observation or surname by entering: 

• Code 1—Collected on the basis of visual observation or surname • Code 2—Not collected on the basis of visual observation or 

surname 

• Code 3—Not applicable 

NOTE: Use Code 3 if the requirement to report the applicant’s or 

borrower’s ethnicity does not apply to the covered loan or application that your institution is reporting. 

• Code 4—No co-applicant 

NOTE: Use Code 4 in the co-applicant field if there are no coapplicants or co-borrowers 

10 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

If there is more than one co-applicant or co-borrower, provide the required information only for the first co-applicant or co-borrower listed on the collection form. 

(17) Race § 1003.4(a)(10)(i 

), Comments 4(a)(10)(i)-1 and -2 and appendix B 

Applicant’s or borrower’s ethnicity, race, and sex, and if information was 

collected by visual observation or surname 

RACE OF APPLICANT OR BORROWER. Indicate the race of the applicant or borrower, or of the first co-applicant or co-borrower, as applicable, by entering up to five (5): 

• Code 1—American Indian or Alaska Native 

NOTE: If the applicant or borrower, or any co-applicant or coborrower, did not select Code 1, but provided the name of the 

applicant’s or borrower’s American Indian or Alaska Native 

Enrolled or Principal Tribe(s) in the Race Free Form Text Field 

for American Indian or Alaska Native Enrolled or Principal 

Tribe, your institution is permitted, but not required, to report Code 1 in one of the Race of Applicant or Borrower data fields. Each reported race will be counted as one of the five (5) reported races, whether or not you also choose to report Code 1 

as one of the Race of Applicant or Borrower, or Race of CoApplicant or Co-Borrower, data fields. See below for information 

about the Race Free Form Text Field for American Indian or Alaska Native Enrolled or Principal Tribe. 

• Code 2—Asian 

ooo

oooo

Code 21—Asian Indian 

Code 22—Chinese 

Code 23—Filipino Code 24—Japanese Code 25—Korean Code 26—Vietnamese 

Code 27—Other Asian 

To report not aApplicant or BCollected On Surname for: 

• Purchased 

institution c

co-applicanB; 

• Covered loa

co-applican

NOTE: Use Co

received the a

and the financwhether the rathe first co-app

was collected 

surname. 

11 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

NOTE: If the applicant or borrower, or any co-applicant or co-borrower, did not select Code 27, but provided the name of the applicant’s or borrower’s other Asian race(s) in the Race Free Form Text Field for Other Asian, your institution is permitted, but not required, to report Code 27 in one of the Race of Applicant or Borrower data fields. Each reported race will be counted as one of the five (5) 

reported races, whether or not you also choose to report 

Code 27 as one of the Race of Applicant or Borrower, or Race of Co-Applicant or Co-Borrower, data fields. See below for information about the Race Free Form Text Field for Other Asian. 

• Code 3—Black or African American • Code 4—Native Hawaiian or Other Pacific Islander 

oo

oo

Code 41—Native Hawaiian 

Code 42—Guamanian or Chamorro Code 43—Samoan 

Code 44—Other Pacific Islander 

NOTE: If the applicant or borrower, or any co-applicant or 

co-borrower, did not select Code 44, but provided the name of the applicant’s or borrower’s other Pacific Islander race(s) in the Race Free Form Text Field for Other Pacific Islander, your institution is permitted, but not required, to report Code 44 in one of the Race of Applicant or Borrower data fields. Each reported race will be counted as one of the five (5) reported races, whether or not you also choose to report Code 44 as one of the Race of Applicant or Borrower, or Race of Co-Applicant or Co12 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

Borrower, data fields. See below for information about the Race Free Form Text Field for Other Pacific Islander. 

• Code 5—White • Code 6—Information not provided by applicant in mail, internet, or 

telephone application 

NOTE: Use Code 6 if the applicant or borrower, or co-applicant 

or co-borrower does not provide the information in an application taken by mail, internet, or telephone. Leave the remaining Race of Applicant or Borrower data fields blank. 

• Code 7—Not applicable 

NOTE: Use Code 7 if the requirement to report the applicant’s or 

borrower’s race does not apply to the covered loan or application 

that your institution is reporting. Leave the remaining Race of Applicant or Borrower data fields blank. 

• Code 8—No co-applicant

NOTE: Use Code 8 in the co-applicant field if there are no coapplicants or co-borrowers. Leave the remaining Race of

Applicant or Borrower data fields blank. 

Do not enter the same code more than once for the applicant or borrower, or any co-applicant or co-borrower, as applicable, for any covered loan or application. If fewer than five (5) races are provided by the applicant or borrower, or by any co-applicant or co-borrower, leave the remaining Race of 

Applicant or Borrower data fields blank. 

RACE FREE FORM TEXT FIELDS. 

13 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

••

RACE FREE FORM TEXT FIELD FOR AMERICAN INDIAN OR 

ALASKAN NATIVE ENROLLED OR PRINCIPAL TRIBE. E nter 

the name of the applicant’s or borrower’s American Indian or 

Alaska Native enrolled or Principal Tribe(s), if provided by the applicant or borrower, or by any co-applicant or co-borrower, as 

applicable in the Race Free Form Text Field for American 

Indian or Alaskan Native Enrolled or Principal Tribe. For 

example, enter Navajo if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable. Enter more than one American Indian or Alaska Native Enrolled or Principal Tribe, if provided by the applicant or borrower, or by any coapplicant or co-borrower, as applicable. The maximum number of 

characters for this field is 100 characters, including spaces. If the applicant or borrower, or any co-applicant or co-borrower did not provide an American Indian or Alaska Native Enrolled or Principal 

Tribe(s), leave the Race Free Form Text Field for American Indian or Alaska Native Enrolled or Principal Tribe field blank. 

RACE FREE FORM TEXT FIELD FOR OTHER ASIAN. Enter the specific other Asian race(s) not listed above, if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable in the Race Free Form Text Field for Other Asian. For example, enter Hmong, Laotian, Thai, Pakistani, or Cambodian, and so on, if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable. Enter more than one other Asian race, if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable. The maximum number of characters for this field is 100 characters, including spaces. If the applicant or borrower, or any co-applicant 

14 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

or co-borrower, did not provide another Asian race(s), leave the Race Free Form Text Field for Other Asian field blank. 

• RACE FREE FORM TEXT FIELD FOR OTHER PACIFIC 

ISLANDER. Enter the specific Other Pacific Islander race(s) not 

listed above, if provided by the applicant or borrower, or by any coapplicant or co-borrower, as applicable in the Race Free Form 

Text Field for Other Pacific Islander. For example, enter Fijian, 

or Tongan, and so on, if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable. Enter more than one Other Pacific Islander race, if provided by the applicant or borrower, or by any co-applicant or co-borrower, as applicable. The maximum number of characters for this field is 100 characters, 

including spaces. If the applicant or borrower, or any co-applicant 

or co-borrower, did not provide an Other Pacific Islander race(s), 

leave the Race Free Form Text Field for Other Pacific Islander field blank. 

RACE COLLECTED ON THE BASIS OF VISUAL OBSERVATION OR 

SURNAME. Indicate whether the race of the applicant or borrower, or of the first co-applicant or co-borrower, as applicable, was collected on the 

basis of visual observation or surname by entering: 

• Code 1—Collected on the basis of visual observation or surname • Code 2—Not collected on the basis of visual observation or

surname

• Code 3—Not applicable 

NOTE: Use Code 3 if the requirement to report the applicant’s or 

borrower’s race does not apply to the covered loan or application that your institution is reporting. 

• Code 4—No co-applicant 

15 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

NOTE: Use Code 4 in the co-applicant field if there are no coapplicants or co-borrowers. 

If there is more than one co-applicant or co-borrower, provide the required information only for the first co-applicant or co-borrower listed 

on the collection form. 

(18) Sex § 1003.4(a)(10)(i) 

, Comments 

4(a)(10)(i)-1 and -

2 and appendix B 

Applicant’s or borrower’s ethnicity, race, and sex, and if information was collected by visual observation or surname 

SEX OF APPLICANT OR BORROWER. Indicate the sex of the applicant or borrower, or of the first co-applicant or co-borrower, as applicable, by entering: 

• Code 1—Male • Code 2—Female • Code 3—Information not provided by applicant in mail, internet, or 

telephone application 

NOTE: Use Code 3 if the applicant or co-applicant does not provide the information in an application taken by mail, internet, 

or telephone. 

• Code 4—Not applicable 

NOTE: Use Code 4 if the requirement to report the applicant’s or 

borrower’s sex does not apply to the covered loan or application 

that your institution is reporting. 

• Code 5—No co-applicant 

NOTE: Use Code 5 in the co-applicant field if there are no coapplicants or co-borrowers. 

• Code 6—Applicant selected both male and female 

NOTE: Use Code 6 if the applicant or co-applicant selected both male and female. 

To report not aApplicant or BCollected on tSurname for: 

• Purchased 

institution cco-applicanB; 

• Covered loa

co-applican

NOTE: Use Coreceived the aand the financwhether the sethe first co-app

was collected 

surname. 

16 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

If there is more than one co-applicant or co-borrower, provide the required information only for the first co-applicant or co-borrower listed on the collection form. SEX COLLECTED ON THE BASIS OF VISUAL OBSERVATION OR SURNAME. Indicate whether the sex of the applicant or borrower, or of the first co-applicant or co-borrower, as applicable, was collected on the basis of visual observation or surname by entering: 

• Code 1—Collected on the basis of visual observation or surname 

• Code 2—Not collected on the basis of visual observation or 

surname 

• Code 3—Not applicable 

NOTE: Use Code 3 if the requirement to report the applicant’s or 

borrower’s sex does not apply to the covered loan or application 

that your institution is reporting. 

• Code 4—No co-applicant 

NOTE: Use Code 4 in the co-applicant field if there are no coapplicants or co-borrowers. 

If there is more than one co-applicant or co-borrower, provide the required information only for the first co-applicant or co-borrower listed 

on the collection form. 

(19) Age § 1003.4(a)(10)(ii 

), Comments 4(a)(10)(ii)-1 through -5 

Applicant’s or borrower’s age 

Enter, in numeral form, the age, in years, of the applicant or borrower, or of the first co-applicant or co-borrower, as applicable. Age is calculated, as of the application date, as the number of whole years derived from the date of birth shown on the application form. 

To report not a

• Purchased 

institution c

co-applican

Example: If the applicant or borrower is 24 years old, enter 24. 

17 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

• Covered loa

co-applican

4(a)(10)(ii)-

Or, enter: 

• Code 8888—Not applicable 

• Code 9999—No co-applicant

NOTE: Use Code 9999 in the co-applicant field if there are no

co-applicants or co-borrowers.

If there is more than one co-applicant or co-borrower, provide the required information only for the first co-applicant or co-borrower listed 

on the collection form. 

(20) Income § 1003.4(a)(10)(iii 

), Comments 4(a)(10)(iii)-1 through -10 

If credit decision is made, gross annual income relied on in making the credit decision; Or, if a credit decision 

was not made, the gross annual income 

relied on in processing 

the application 

Enter, in dollars, the gross annual income relied on in making the credit 

decision, or if a credit decision was not made, the gross annual income 

relied on in processing the application. Round all dollar amounts to the 

nearest thousand (round $500 up to the next $1,000). 

Example: If the income amount is $35,500, enter 36. 

Enter “NA” for: 

• Covered loa

decision did considered 4(a)(10)(iii)

• Covered loa

co-applican4(a)(10)(iii)

• Covered loa

proposed to dwelling, C

• Purchased 

institution cComment 4

• Covered loa

institution’s even if the 

18 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

making the 3 

(21) Type of Purchaser 

§ 1003.4(a)(11), Comments 4(a)(11)-1 through -10 

Type of entity that purchased the loan 

Indicate the type of entity purchasing a covered loan from your 

institution within the same calendar year that your institution originated 

or purchased the loan by entering: 

• Code 0—Not applicable 

• Code 1—Fannie Mae • Code 2—Ginnie Mae • Code 3—Freddie Mac • Code 4—Farmer Mac • Code 5—Private securitizer • Code 6—Commercial bank, savings bank, or savings association 

• Code 71—Credit union, mortgage company, or finance company • Code 72—Life insurance company • Code 8—Affiliate institution • Code 9—Other type of purchaser 

To report not a

• Application

for incompl

by the appl

• Preapprova

approved bComment 4

• Originated 

financial inscalendar ye

(22) Rate Spread 

§ 1003.4(a)(12), Comments 4(a)(12)-1 through -9 

Difference between the annual percentage rate and average prime offer rate for a comparable transaction 

Enter, as a percentage, to at least three (3) decimal places, the difference between the covered loan’s annual percentage rate (APR) and the average prime offer rate (APOR) for a comparable transaction as of the date the interest rate is set. Numbers calculated to beyond three (3) decimal places may either be reported beyond three (3) decimal places (up to fifteen (15) decimal places), or rounded or truncated to three (3) decimal places. Decimal place trailing zeros may either be included or omitted. 

• If the APR exceeds the APOR, enter a positive number. 

Enter “NA” for: 

• Covered loa

mortgages, Regulation 4(a)(12)-7; 

• Application

other than a4(a)(12)-7 

• Application

disclosures 

Comment 4

19 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

Example: If the APR is 3.678% and the APOR is 3.25%, enter 0.428. If the APR is 4.560% and the APOR is 4.25%, enter either 0.31 or 0.310. 

• If the APR is less than the APOR, enter a negative number. 

Example: If the APR 3.1235% and the APOR is 3.25%, enter -0.1265. Alternatively, the rate spread may be truncated to 

-0.126 or rounded to -0.127. 

Enter “ExemptRule, your inst

(23) HOEPA Status

§ 1003.4(a)(13), Comment 4(a)(13)-1 

Whether the loan is a high-cost mortgage under the Home Ownership and Equity Protection Act (HOEPA) 

Indicate whether the covered loan is a high-cost mortgage under 

Regulation Z, § 1026.32(a) by entering: 

To report not a

• Covered loa

Ownership 

1994, as im§ 1026.32(a4(a)(13)-1 

• Code 1—High-cost mortgage 

• Code 2—Not a high-cost mortgage • Code 3—Not applicable 

• Application

Comment 4

(24) Lien Status § 1003.4(a)(14), 

Comments 4(a)(14)-1 and -2 

Whether the property is a first or subordinate 

lien 

Indicate the lien status of the property securing the covered loan, or in the case of an application, proposed to secure the covered loan, by entering: 

• Code 1—Secured by a first lien 

• Code 2—Secured by a subordinate lien 

(25) Credit Score 

§ 1003.4(a)(15), Comments 4(a)(15)-1 through -7 

Credit score(s) relied on and the name and version of the credit scoring model 

CREDIT SCORE OF APPLICANT OR BORROWER. Enter, in numeral form, the credit score, or scores relied on in making the credit decision for the applicant or borrower, or of the first co-applicant or co-borrower, 

as applicable. If Regulation C requires your institution to report a single score that corresponds to multiple applicants or borrowers, report the score in either the applicant field or the co-applicant field. 

To report not aCredit Score ofor Name and V

• Purchased 

Comment 4

20 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

Or, enter 

• Code 1111—Exempt • Code 7777—Credit score is not a number 

NOTE: Use Code 7777 if your institution relied on a credit score 

that is not a number (e.g., a credit score of “Meets Threshold”). Code 7777 should not be used if a credit scoring model that 

produces numeric credit scores returns a result stating that the credit score could not be determined. 

• Code 8888—Not applicable 

• Code 9999—No co-applicant 

NOTE: Use Code 9999 in the co-applicant field if there are no co-applicants or co-borrowers. 

NOTE: If Regulation C requires your institution to report a single score 

that corresponds to multiple applicants or borrowers, either report the credit score in the applicant field, and use Code 8888 in the coapplicant field; or report the credit score in the co-applicant field and use Code 8888 in the applicant field. 

NAME AND VERSION OF CREDIT SCORING MODEL. Indicate the 

name and version of the credit scoring model used to generate the credit score, or scores, relied on in making the credit decision by entering: 

• Code 1111—Exempt • Code 1—Equifax Beacon 5.0 

NOTE: Use Code 1 for Equifax Beacon 5.0, which may also be 

known as FICO Score 5. 

• Code 2—Experian Fair Isaac Risk Model v2 

• Transaction

made (e.g., 

an applicatidecision wa

• Transaction

made witho4(a)(15)-5; 

• Covered loa

co-applican4(a)(15)-7 

Enter “Code 11

Version of Cred2018 HMDA RCredit Score. 

21 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

NOTE: Use Code 2 for Experian Fair/Isaac Risk Model v2, which may also be known as FICO Score 2 or FICO Classic v2. 

• Code 3—TransUnion FICO Risk Score Classic 04 

NOTE: Use Code 3 for TransUnion FICO Risk Score Classic 04, 

which may also be known as FICO Score 4 or TU-04. 

• Code 4—TransUnion FICO Risk Score Classic 98 

NOTE: Use Code 4 for TransUnion FICO Risk Score Classic 98, 

which may also be known as FICO 98 or TU-98. 

• Code 5—VantageScore 2.0 • Code 6—VantageScore 3.0 • Code 7—More than one credit scoring model • Code 8—Other credit scoring model 

NOTE: If Code 8 is selected in the Name and Version of Credit 

Scoring Model Field, enter the specific other credit scoring model that is not listed above in the Name and Version of Credit Scoring Model Conditional Free Form Text Field for Code 8. If Code 8 is not entered, leave this field blank. 

• Code 9—Not applicable • Code 10—No co-applicant 

NOTE: Use Code 10 in the co-applicant field if there are no coapplicants or co-borrowers. 

NOTE: If Regulation C requires your institution to report a single score 

for a covered loan or application involving multiple applicants or borrowers, report either (A) the name and version of the credit scoring model, or that multiple credit scoring models were used, in the applicant field, and use Code 9 in the co-applicant field; or (B) the name and version of the credit scoring model, or that multiple credit 

22 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

scoring models were used, in the co-applicant field, and use Code 9 in 

the applicant field. 

(26) Reason for Denial 

§ 1003.4(a)(16), Comments 4(a)(16)-1 through -4 

Reason(s) the application was denied 

Indicate the principal reason, or reasons, for denial by entering up to 

four (4): 

To report not a

applications thaoriginated or pComment 4(a)(

Enter “Code 11Rule, your inst

for Denial. Leadata fields blan

• Code 1111—Exempt • Code 1—Debt-to-income ratio • Code 2—Employment history • Code 3—Credit history • Code 4—Collateral • Code 5—Insufficient cash (downpayment, closing costs) • Code 6—Unverifiable information • Code 7—Credit application incomplete • Code 8—Mortgage insurance denied • Code 9—Other 

NOTE: If Code 9 is selected in any Reason for Denial field, enter the specific other reason(s) for denial not listed above in the Reason for Denial Conditional Free Form Text Field for Code 9. See below for more information on the Reason for Denial 

Conditional Free Form Text Field for Code 9. 

• Code 10—Not applicable 

NOTE: Use Code 10 if the requirement to report reasons for 

denial does not apply to the covered loan or application that your institution is reporting. Leave the remaining Reason for Denial data fields blank. 

Do not enter the same code more than once for any covered loan or application. 

23 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

If there are fewer than four principal (4) reasons for denial, leave the remaining Reason for Denial data fields blank. 

MODEL FORM. If your institution uses the model form contained in appendix C to Regulation B, 12 CFR part 1002 (Form C–1, Sample Notice of Action Taken and Statement of Reasons), use the following: • Code 1—Income insufficient for amount of credit requested, and 

Excessive obligations in relation to income 

• Code 2—Temporary or irregular employment, and Length of 

employment 

• Code 3—Insufficient number of credit references provided; 

Unacceptable type of credit references provided; No credit file; Limited credit experience; Poor credit performance with us; Delinquent past or present credit obligations with others; Number 

of recent inquiries on credit bureau report; Garnishment, attachment, foreclosure, repossession, collection action, or judgment; and Bankruptcy 

• Code 4—Value or type of collateral not sufficient • Code 6—Unable to verify credit references; Unable to verify 

employment; Unable to verify income; and Unable to verify residence 

• Code 7—Credit application incomplete • Code 9—Length of residence; Temporary residence; and Other 

reasons specified on the adverse action notice. 

REASON FOR DENIAL CONDITIONAL FREE FORM TEXT FIELD 

FOR CODE 9. The maximum number of characters for this field is 255 

24 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

characters, including spaces. If Code 9 is not entered, leave this field blank. 

(27) Total Loan 

Costs or Total 

Points and Fees 

§ 1003.4(a)(17), Comments 4(a)(17)(i)-1 through -3 and 

4(a)(17)(ii)-1 through -2 

Either total loan costs, 

or total points and fees charged 

Enter either Total Loan Costs or Total Points and Fees:

• TOTAL LOAN COSTS. Enter, in dollars, the amount of total loan

costs. If the amount is zero, enter 0.

• TOTAL POINTS AND FEES. Enter, in dollars, the total points and 

fees charged in connection with the covered loan. If the amount is 

zero, enter 0. 

Example: If the total loan costs or the total points and fees are $2,399.04, enter 2399.04. 

Enter “NA” for: 

TOTAL LOAN C

• Applications• Covered loa

Z, § 1026.43

• Covered loa

§ 1026.43(c) pursuant to § 

• Purchased c

were receiveeffective datComment 4(

TOTAL POINTS 

• Applications• Covered loa

Z, § 1026.43

• Covered loa

§ 1026.43(c) pursuant to R§ 1003.4(a)(

• Purchased c

25 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

Enter “Exemptyour institution Total Points an

(28) Origination Charges 

§ 1003.4(a)(18), Comments 4(a)(18)-1 through -3 

Total borrower-paid origination charges 

Enter, in dollars, the total of all itemized amounts that are designated 

borrower-paid at or before closing. If the total is zero, enter 0. 

Example: If the origination charges are $2,399.04, enter 2399.04. 

Enter “NA” for: 

• Applications• Covered loa

§ 1026.19(f)1; 

• Purchased c

were receiveeffective datComment 4(

Enter “Exemptyour institution 

(29) DiscountPoints

§ 1003.4(a)(19), Comments 4(a)(19)-1 through -3 

Points paid to the 

creditor to reduce the interest rate 

Enter, in dollars, the points paid to the creditor to reduce the interest rate. If no points were paid, leave this field blank. 

Example: If the amount paid for discount points is $2,399.04, enter 2399.04. 

Enter “NA” for: 

• Applications• Covered loa

§ 1026.19(f)1; 

• Purchased c

were receiveeffective datComment 4(

26 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

Enter “Exemptyour institution 

(30) Lender Credits 

§ 1003.4(a)(20), Comments 4(a)(20)-1 through -3 

Amount of lender credits 

Enter, in dollars, the amount of lender credits. If no lender credits were provided, leave this field blank. 

Example: If the amount is $1500.24, enter 1500.24. 

Enter “NA” for: 

• Applications• Covered loa

§ 1026.19(f)

1; 

• Purchased c

were receiveeffective datComment 4(

Enter “Exemptyour institution 

(31) Interest Rate 

§ 1003.4(a)(21), Comments 4(a)(21)-1 through -3 

Interest rate on the approved application or loan 

Enter, as a percentage, to at least three (3) decimal places, the interest rate. Numbers calculated to beyond three (3) decimal places may either be reported beyond three (3) decimal places or rounded or truncated to three (3) decimal places. Decimal place trailing zeros may be either included or omitted. 

Example: If the interest rate is 4.125%, enter 4.125. 

Enter “NA” for withdrawn, or c4(a)(21)-2 Enter “Exemptyour institution 

If the interest rate is exactly 4.500%, enter 4.5, 4.50, or 4.500. 

27 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

(32) Prepayment Penalty Term 

§ 1003.4(a)(22), Comments 4(a)(22)-1 through -2 

Term in months of any prepayment penalty 

Enter, in numeral form, the term, in months, of any prepayment penalty. 

Example: If a prepayment penalty may be imposed within the first 24 months after closing or account opening, enter 24. 

Enter “NA” for: 

• Covered loa

to RegulatioComment 4(

• Covered loa

prepayment 

Enter “Exemptyour institution 

Term. 

(33) Debt-toIncome Ratio § 1003.4(a)(23), Comments 

4(a)(23)-1 through -7 

Ratio of the applicant’s or borrower’s total monthly debt to total monthly income relied on 

Enter, as a percentage, the ratio of the applicant’s or borrower’s total monthly debt to the total monthly income relied on in making the credit decision. Use decimal places only if the ratio relied upon uses decimal places. The HMDA Platform can accept up to fifteen (15) decimal 

places and can accept negative numbers for Debt-to-Income Ratio. 

Example: If the relied upon debt-to-income ratio is 42.95, enter 

42.95, not 43. If, however, your institution rounded the ratio up to 

43% and relied on the rounded-up number, enter 43. 

Enter “NA” for: 

• Purchased c

Comment 4(Transactions 

made (e.g., fan applicatiodecision was 

Transactions 

made withouComment 4(Covered loa

co-applicant 4(a)(23)-5; Covered loaproposed to Comment 4(

••••

28 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

§ 1003.4(a)(25), Comments 4(a)(25)-1 through -5 

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

Enter “Exemptyour institution 

(34) Combined Loan-to-Value 

Ratio 

§ 1003.4(a)(24), Comments 4(a)(24)-1 through -6 

Ratio of the total amount of debt that is 

secured by the 

property to the value of the property that was 

relied on 

Enter, as a percentage, the ratio of the total amount of debt secured by the property to the value of the property relied on in making the credit decision. Use decimal places only if the ratio relied upon uses decimal places. The HMDA Platform can accept up to fifteen (15) decimal 

places for the Combined Loan-to-Value Ratio. 

Example: If the relied upon combined loan-to-value ratio is 80.05, 

enter 80.05, not 80. If, however, your institution rounded the ratio 

down to 80 and relied on the rounded-down number, enter 80. 

Enter “NA” for: 

• Purchased c

Comment 4(

• Transactions 

made (e.g., fan applicatiodecision was 

• Transactions 

made withouratio, Comm

Enter “Exemptyour institution 

Value Ratio. 

(35) Loan Term Number of months 

after which the legal obligation will mature or terminate 

Enter, in numeral form, the number of months after which the legal 

obligation will mature or terminate, or would have matured or terminated. 

Example: If the loan term is 360 months, enter 360. 

(36) Introductory Rate Period 

§ 1003.4(a)(26), Comments 4(a)(26)-1 through -5 

Number of months until 

the first date the 

interest rate may change 

Enter, in numeral form, the number of months, or proposed number of months in the case of an application, until the first date the interest rate may change after closing or account opening. 

Example: If the introductory rate period is 24 months, enter 24. 

•

Enter “NA” for definite term, s4(a)(25)-5 Enter “Exemptyour institution Enter “NA” for: 

Covered loaComment 4(

29 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

• Purchased c

Comment 4(

Enter “Exemptyour institution Period. 

(37) NonAmortizing Features 

§ 1003.4(a)(27), Comment 4(a)(27)-1 

Whether the transaction involves a 

balloon payment, interest-only payments, negative amortization, or any other type of 

non-amortizing feature 

BALLOON PAYMENT. Indicate whether the contractual terms include, or would have included, a balloon payment by entering: 

• Code 1111—Exempt 

• Code 1—Balloon payment • Code 2—No balloon payment 

INTEREST-ONLY PAYMENTS. Indicate whether the contractual terms 

include, or would have included, interest-only payments by entering: 

• Code 1111—Exempt 

• Code 1—Interest-only payments • Code 2—No interest-only payments 

NEGATIVE AMORTIZATION. Indicate whether the contractual terms include, or would have included, a term that would cause the covered loan to be a negative amortization loan by entering: 

• Code 1111—Exempt 

• Code 1—Negative amortization • Code 2—No negative amortization 

OTHER NON-AMORTIZING FEATURES. Indicate whether the contractual terms include, or would have included, any term, other than 

those described in § 1003.4(a)(27)(i), (ii), and (iii) that would allow for payments other than fully amortizing payments during the loan term by 

entering: 

• Code 1111—Exempt 

Enter “Code 11Only PaymentNon-AmortizinHMDA Rule, yoAmortizing Fea

30 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

• Code 1—Other non-fully amortizing features 

• Code 2—No other non-fully amortizing features 

(38) Property Value 

§ 1003.4(a)(28), Comments 4(a)(28)-1 through -4 

Value of the property relied on that secures the loan 

Enter, in dollars, the value of the property securing the covered loan or, in the case of an application, proposed to secure the covered loan, relied on in making the credit decision. 

Example: If the property value is $350,500, enter 350500. 

Enter “NA” for: • Transactions 

made (e.g., fan applicatiodecision was 

• Transactions 

made withou

4(a)(28)-4 

Enter “Exempt

your institution 

(39) Manufactured Home Secured 

Property Type 

§ 1003.4(a)(29), Comments 4(a)(29)-1 through -4 

Whether the covered loan is secured by a manufactured home and land or a manufactured home and not land 

Indicate whether the covered loan or application is, or would have been, secured by a manufactured home and land, or by a manufactured home and not land, by entering: 

To report not a

• The dwelling 

not a manufa

• Code 1111—Exempt Comment 4(

• Code 1—Manufactured home and land • Code 2—Manufactured home and not land • Code 3—Not applicable 

• The dwelling 

manufacturemultifamily dComment 4(

Enter “Code 11

Rule, your inst

Home Secured 

(40) Manufactured 

§ 1003.4(a)(30), Information about the 

applicant’s or 

Indicate the applicant’s or borrower’s land property interest in the land 

on which a manufactured home is, or will be, located by entering: 

To report not a

• Code 1111—Exempt 

31 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

Home Land 

Property Interest

Comments 4(a)(30)-1 through -6

borrower’s ownership or leasehold interest in the land where the manufactured home is located 

• Code 1—Direct ownership • Code 2—Indirect ownership • Code 3—Paid leasehold • Code 4—Unpaid leasehold • Code 5—Not applicable 

• The dwelling 

not a manufaComment 4(

• The dwelling 

manufacturemultifamily dComment 4(

• A location fo

covered loan identified, § 

Enter “Code 11Rule, your inst

Home Land Pr

(41) Total Units § 1003.4(a)(31), 

Comments 4(a)(31)-1 through -4 

Number of individual 

dwelling units related 

to the property 

Enter, in numeral form, the number of individual dwelling units related 

to the property securing the covered loan or, in the case of an 

application, proposed to secure the covered loan. 

Example: If there are five (5) individual dwelling units, enter 5. 

(42) Multifamily Affordable Units 

§ 1003.4(a)(32), Comments 

4(a)(32)-1 through -6 

Number of individual 

dwelling units related 

to the property that are 

income-restricted under federal, state, or 

local affordable housing programs 

Enter, in numeral form, the number of individual dwelling units related to any multifamily dwelling property securing the covered loan or, in the case of an application, proposed to secure the covered loan, that are income-restricted pursuant to Federal, State, or local affordable 

housing programs. 

Example: If there are five (5) multifamily affordable units, enter 5. 

Enter “NA” for the property se

case of an app

covered loan is 

§ 1003.4(a)(32

32 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

NOTE: Enter “0” for a covered loan or application related to a multifamily dwelling that does not contain any such income-restricted individual dwelling units. 

Enter “Exemptyour institution Units. 

(43) Application Channel (Submission of Application and Initially Payable to Your Institution) 

§ 1003.4(a)(33), Comments 

4(a)(33)-1, 4(a)(33)(i)-1, and 4(a)(33)(ii)-1 through -2 

Indicators of whether the application was 

submitted directly to 

the FI, and whether the 

obligation was initially payable to the FI 

SUBMISSION OF APPLICATION. Indicate whether the applicant or borrower submitted the application directly to your institution by entering: 

• Code 1111—Exempt 

• Code 1—Submitted directly to your institution • Code 2—Not submitted directly to your institution 

• Code 3—Not applicable 

INITIALLY PAYABLE TO YOUR INSTITUTION. Indicate whether the 

obligation arising from the covered loan was, or, in the case of an application, would have been, initially payable to your institution by entering: 

• Code 1111—Exempt 

• Code 1—Initially payable to your institution • Code 2—Not initially payable to your institution • Code 3—Not applicable 

To report not a

Application, e

• Purchased 

To report not ap

Institution, ent

• Purchased • Application

closed for in

not determi

have been reporting th

Enter “Code 11Rule, your instApplication anInstitution. 

(44) Mortgage Loan Originator NMLSR Identifier 

§ 1003.4(a)(34), Comments 4(a)(34)-1 through -4 

National Mortgage 

Licensing System & Registry (NMLSR) identifier for the mortgage loan originator 

Enter the Nationwide Mortgage Licensing System and Registry 

mortgage loan originator unique identifier (NMLSR ID) for the mortgage 

loan originator. 

Example: If the NMLSR ID for the mortgage loan originator is 123450, enter 123450. 

Enter “NA” for: 

• Covered loa

mortgage lo

and has no

Comment 4

Enter “NA” or v

33 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Effective January 1, 2020 

Data point Regulation C references Description Filing instructionsc Reporting “No

• Purchased 

coverage c

and were o

Comment 4

• Purchased 

coverage cand were oComment 4

Enter “Exempt

your institution Originator NML

(45) Automated Underwriting System 

§ 1003.4(a)(35), Comments 4(a)(35)-1 through -7 

Name of the automated underwriting system used by the FI to evaluate the application and the result generated by that system 

AUTOMATED UNDERWRITING SYSTEM. Indicate the automated underwriting system(s) (AUS) used by your institution to evaluate the application by entering up to five (5) of the following: 

• Code 1111—Exempt • Code 1—Desktop Underwriter (DU) • Code 2—Loan Prospector (LP) or Loan Product Advisor • Code 3—Technology Open to Approved Lenders (TOTAL) 

Scorecard 

• Code 4—Guaranteed Underwriting System (GUS) • Code 5—Other 

NOTE: If Code 5 is selected in any Automated Underwriting System field, enter the name of the specific other AUS(s) not listed above in the AUS Conditional Free Form Text Field for 

Code 5. See below for more information on the AUS Conditional Free Form Text Field for Code 5. 

To report not aAutomated Unfor Automated 

• Purchased 

Comment 4

• Transaction

§ 1003.4(a)

application, 

• Covered loa

co-applican4(a)(35)-6 

Enter “Code 11System and A

Result if, pursu

34 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

• Code 6—Not applicable institution is no

System.

NOTE: If fewer than five (5) automated underwriting systems were

used by your institution to evaluate the application or if Code 6 is

selected, leave the remaining Automated Underwriting System datafields blank.

AUS CONDITIONAL FREE FORM TEXT FIELD FOR CODE 5. Enter 

more than one other Automated Underwriting System, as applicable. The maximum number of characters for this field is 255 characters, including spaces. If Code 5 is not entered, leave this field blank. 

AUTOMATED UNDERWRITING SYSTEM RESULT. Indicate the result(s) generated by the automated underwriting system (AUS) previously indicated by entering: 

• Code 1111 —Exempt • Code 1—Approve/Eligible • Code 2—Approve/Ineligible • Code 3—Refer/Eligible • Code 4—Refer/Ineligible • Code 5—Refer with Caution • Code 6—Out of Scope • Code 7—Error • Code 8—Accept • Code 9—Caution • Code 10—Ineligible • Code 11—Incomplete 

• Code 12—Invalid 

35 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

• Code 13—Refer • Code 14—Eligible • Code 15—Unable to Determine • Code 16—Other 

NOTE: If Code 16 is selected in an Automated Underwriting System Result field, enter the specific other AUS result(s) not 

listed above in the AUS Result Conditional Free Form Text Field for Code 16. See below for more information on the AUS Result Conditional Free Form Text Field for Code 16. 

• Code 17—Not applicable 

NOTE: Use Code 17 if the requirement to report an AUS result 

does not apply to the covered loan or application that your institution is reporting. Leave the remaining Automated Underwriting System Result data fields blank. 

• Code 18—Accept/Eligible • Code 19—Accept/Ineligible • Code 20—Accept/Unable to Determine • Code 21—Refer with Caution/Eligible • Code 22—Refer with Caution/Ineligible • Code 23—Refer/Unable to Determine • Code 24—Refer with Caution/Unable to Determine 

For the following AUS results returned, use the following Codes for these AUS: 

• Federal National Mortgage Association (Fannie Mae) commonly 

returns results that correspond to Codes 1, 2, 3, 4, 5, 6, 7, or 15. If 

your result(s) differ, report the AUS result(s) received. 

36 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

• Federal Home Loan Mortgage Corporation (Freddie Mac) 

commonly returns results that correspond to Codes 8, 9, 10, 11, 

12, or 13. If more than one result is returned on the Feedback Certificate, report the Risk Class result. If your result(s) differ, report the AUS result(s) received. 

• FHA TOTAL Scorecard commonly returns results that correspond 

to Codes 1, 2, 3, 4, 8, 13, 18 and 19. If your results differ, report the AUS result(s) received. 

• GUS commonly returns results that correspond to Codes 3, 4, 10, 

15, 18, 19, 20, 21, 22, 23 or 24. If your result(s) differ, report the AUS result(s) received. 

NOTE: If fewer than five (5) results were generated by the automated 

underwriting system(s) previously indicated or Code 17 is used, leave 

the remaining Automated Underwriting System Result data fields blank. 

AUS RESULT CONDITIONAL FREE FORM TEXT FIELD FOR CODE 16. Enter more than one other Automated Underwriting System Result, as applicable. The maximum number of characters for this field is 255 characters, including spaces. If Code 16 is not entered, leave this field blank. 

(46) Reverse Mortgage

§ 1003.4(a)(36) Indicator of whether 

the transaction is for a 

reverse mortgage 

Indicate whether the covered loan is, or the application is for, a reverse 

mortgage by entering: 

Enter “Code 11Rule, your inst

• Code 1111 —Exempt Mortgage. • Code 1—Reverse mortgage 

• Code 2—Not a reverse mortgage 

37 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
Reporting “No

Effective January 1, 2020 

Regulation C Data point Description Filing instructionsc references 

(47) Open-EndLine of Credit

§ 1003.4(a)(37), Comment 4(a)(37)-1 

Indicator of whether the transaction is for an open-end line of credit 

Indicate whether the covered loan is, or the application is for, an openend line of credit by entering: Enter “Code 11

Rule, your inst

• Code 1111 —Exempt of Credit. • Code 1—Open-end line of credit 

• Code 2—Not an open-end line of credit 

(48) Business or Commercial Purpose 

§ 1003.4(a)(38), Comment 4(a)(38)-1 

Indicator of whether the transaction is primarily for a business or commercial purpose 

Indicate whether the covered loan is, or the application is for a covered 

loan that will be made, primarily for a business or commercial purpose by entering: 

Enter “Code 11Rule, your instCommercial Pu

• Code 1111 —Exempt • Code 1—Primarily for a business or commercial purpose 

• Code 2—Not primarily for a business or commercial purpose 

a This chart combines information from the previous Summary of Reportable Data Chart and Reporting “Not Applicable” Chart and the 2020 Filing Instructions Guide. This chart 

the submission process or procedures. This chart summarizes requirements under HMDA and Regulation C and does not itself establish any binding obligations. It is intended onlfor the regulation or its official commentary. Always consult the regulation text and official commentary for a complete understanding of the law. 

b HMDA filers should report the data points described in the 2015 HMDA Rule and the 2017 HMDA Rule, as modified by the 2019 HMDA Rule, which implements and clarifies the 

Growth, Regulatory Relief, and Consumer Protection Act for insured depository institutions and insured credit unions reporting transactions covered by a partial exemption.

c This column provides the information from Section 4.2 of the 2020 Filing Instructions Guide. Further information can be found in the 2020 Filing Instructions Guide. Some inf

as in the 2020 Filing Instructions Guide. This chart is not a substitute for the 2020 Filing Instructions Guide, which should be consulted.

d The “not applicable” portion of this column details the information provided in Regulation C about when a data point is considered not applicable and the appropriate code found 

to signify it. If more information is needed, please review the rule and commentary specified and the 2020 Filing Instructions Guide.

e The “exempt” portion of this column details when a data point is exempt for insured depository institutions and insured credit unions reporting transactions covered by a partial 

Growth, Regulatory Relief, and Consumer Protection Act and the appropriate code found in the 2020 Filing Instructions Guide to signify it. 

38 2020 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, OCTOBER 10, 2019 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

Appendix APPENDIX B: HMDA Small Entity Compliance Guide 

The following is a copy of the CFPB’s HMDA Small Entity Compliance Guide, an 

easy-to-use summary of Regulation C and to highlight information that financial 

institutions and those that work with them might find helpful when complying with 

Regulation C. 

This Guide is not a substitute for Regulation C. Regulation C and its official 

interpretations (also known as the commentary) are the definitive sources of 

information regarding its requirements. Regulation C and its official interpretations 

are available in Appendix H and I of this Guide and at 

www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1003/. 
JANUARY 2020 

OMB CONTROL NO. 3170-0008
 

Home Mortgage 

Disclosure (Regulation C) 

Small Entity Compliance Guide 
Version Log 

The Bureau updates this guide on a periodic basis. Below is a version log noting the history of 

this document and its updates: 

Date	 Version Summary of Changes 

January 23, 2020 4.0	 Updates to incorporate the content of the final rule issued on October 10, 

2019, including: 

 Effective date (Section 2) 

 Institutional coverage for open-end lines of credit (Sections 2.1, 

3.1, 3.1.1, 3.1.2, 9.1) 

 Transactional coverage for open-end lines of credit (Sections 

2.2, 4.1.2, 4.3, 4.3.2) 

 Partial exemptions (Sections 4.3, 4.3.1, 8.5) 

 Non-universal loan identifier (Sections 5.2) 

Information about the Bureau’s policy guidance on disclosure of loanlevel HMDA data (Section 2.7). 

Deletes text related to 2017 institutional coverage because it is no longer 

in effect (Section 2.1, 2.3, 2.5, 5.1.1, 9.1). 

Deletes text regarding the collection of race, ethnicity, and sex for 

applications taken in 2017 (Section 2.3, 5.1). 

Deletes text related to Appendix A of Regulation C because it was 

removed from Regulation C in 2019 (Section 2.5). 

Miscellaneous administrative changes in various sections. 

October 2018 3.0 Updates to reflect Section 104(a) of the Economic Growth, Regulatory 

Relief, and Consumer Protection Act (2018 Act) and the interpretive and 

procedural rule issued on August 31, 2018 (2018 HMDA Rule), including: 

 General information about Section 104(a) of the 2018 Act and 

the 2018 HMDA Rule (Section 1) 

 Key changes and effective date of Section 104(a) of the 2018 

Act (Sections 2.1, 2.3, and 4.3) 

 Institutions eligible to rely upon the partial exemptions created 

by Section 104(a) of the 2018 Act (Section 4.3.1) 

 Loan-volume thresholds for the partial exemptions (Section 

4.3.2) 

1 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

October 2017 2.0 

 Collecting, recording, and reporting data points if a partial 

exemption applies (Sections 4.3.3) 

 Reporting a non-universal loan identifier if a partial exemption 

applies (Section 5.2) 

 Reporting other data points affected by the partial exemptions 

(Sections 5.4, 5.9, 5.11, 5.12, 5.16, 5.17, and 5.19 through 

5.30) 

Additional information about which transactions a financial institution 

must count when determining if a loan-volume threshold has been met 

(Section 4.1.2). 

Revisions to the portion of the table describing the loan amount reported 

for a counteroffer for an amount different from the amount for which the 

applicant applied, if the applicant did not accept or failed to respond. 

Also, revisions to the portion of the same table describing the loan 

amount reported for an Application that was denied, closed for 

incompleteness, or withdrawn (Section 5.8). 

Miscellaneous administrative changes in various sections. 

Updates to incorporate the content of the final rule issued on August 

24, 2017, including changes and clarification regarding: 

Institutional coverage and the uniform loan-volume threshold for openend lines of credit (Sections 2.1, 3.2, and 9.1)
 

Transactional coverage for open-end lines of credit (Sections 2.2, 4.1.2, 

and 9.1)
 

Collection and reporting of applicant information (Sections 2.4, 5.1, 9.2.1, 

and Attachment A) 

Effective date of enforcement provisions for larger volume reporters 

(Sections 2.8 and 7)
 

Whether certain installment sales contracts are extensions of credit for 

purposes of the HMDA Rule (Section 4.1.1.1)
 

An exclusion from coverage for certain preliminary transactions that 

consolidate new funds into a New York CEMA (Sections 4.1.1.1. and 

4.1.2)
 

What constitutes a loan secured by a multifamily dwelling under the 

HMDA Rule (Sections 4.1.1.2)
 

The exclusion from coverage for temporary financing (Section 4.1.2)
 

Including certain distributions from retirement and other asset accounts 

when reporting income (Section 5.1.2)
 

Reporting the ULI and use of check digit tool provided by the Bureau
 

2 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

(Section 5.2)
 

Reporting loan purpose (Section 5.7)
 

Reporting property address and location when certain information is 

unknown or unavailable (Section 5.12)
 

Reporting census tract using the geocoding tool provided by the Bureau
 

(Sections 5.12 and 7)
 

Reporting CLTV when the calculation includes property other than the 

Identified Property (Section 5.21)
 

Reporting credit score when there are multiple scores or multiple 

applicants (Section 5.22)
 

Securitizers and automated underwriting systems (Section 5.23) 

Reporting interest rate, rate spread, and certain other data points when
 

revised or corrected disclosures are provided (Sections 5.24, 5.26, and 

5.28)
 

Reporting the introductory rate (Section 5.25) 

Reporting rate spread, including for applications that are approved but 

not accepted (Section 5.26)
 

Reporting mortgage loan originator identifier for certain purchased
 

covered loans (Section 5.30)
 

Reporting action taken if there is a counteroffer (Attachment B) 

Also, makes miscellaneous administrative changes to various sections 

December 2015 1.0 Original Document 

3 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
   

   

   

   

   

   

   

   

   

   

   

   

Table of contents 

Table of contents .........................................................................................................4
 

1. Introduction ...........................................................................................................8
 

1.1 Purpose of this guide ................................................................................ 9
 

1.2 Additional implementation resources .................................................... 10
 

2. Key changes and effective dates ......................................................................11
 

2.1 Institutional coverage ............................................................................. 12
 

2.2 Transactional coverage ........................................................................... 13
 

2.3 Required data points................................................................................15
 

2.4 Collection and reporting of applicant information ................................ 16
 

2.5 Annual reporting..................................................................................... 16
 

2.6 Quarterly reporting..................................................................................17
 

2.7 Disclosure requirements......................................................................... 18
 

2.8 Enforcement provisions for larger-volume reporters ............................ 19
 

3. Institutional coverage .........................................................................................20
 

3.1 Institutional coverage on or after January 1, 2018 ................................20
 

3.2 Exempt institutions ................................................................................ 25
 

4. Transactional coverage ......................................................................................26
 

4.1 Covered loans..........................................................................................26
 

4 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
4.2 Reportable activity .................................................................................. 37
 

4.3 Partial exemptions .................................................................................. 43
 

5. Reportable data...................................................................................................51
 

5.1 Applicant information ............................................................................ 52
 

5.2 Universal loan identifier (ULI) or non-universal loan identifier........... 59
 

5.3 Application date ...................................................................................... 62
 

5.4 Application channel ................................................................................ 63
 

5.5 Preapproval request................................................................................64
 

5.6 Loan type.................................................................................................64
 

5.7 Loan purpose .......................................................................................... 65
 

5.8 Loan amount ...........................................................................................68
 

5.9 Loan term................................................................................................69
 

5.10 Action taken and date ............................................................................. 70
 

5.11 Reasons for denial................................................................................... 70
 

5.12 Property address and property location................................................. 72
 

5.13 Construction method .............................................................................. 74
 

5.14 Occupancy type ....................................................................................... 75
 

5.15 Lien status ............................................................................................... 76
 

5.16 Manufactured home information ........................................................... 77
 

5.17 Property value ......................................................................................... 78
 

5.18 Total units ............................................................................................... 79
 

5.19 Multifamily affordable units...................................................................80
 

5.20 Debt-to-income ratio .............................................................................. 81
 

5.21 Combined loan-to-value .........................................................................82
 

5.22 Credit score information.........................................................................84
 

5 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
5.23 Automated underwriting system information .......................................86
 

5.24 Interest rate.............................................................................................89
 

5.25 Introductory rate period ......................................................................... 92
 

5.26 Rate spread ............................................................................................. 93
 

5.27 Non-amortizing features .........................................................................98
 

5.28 Data points for certain loans subject to Regulation Z ............................99
 

5.29 Transaction indicators .......................................................................... 103
 

5.30 Mortgage loan originator identifier...................................................... 104
 

5.31 Type of purchaser ................................................................................. 105
 

6. Recording and reporting ..................................................................................108
 

6.1 Recording .............................................................................................. 108
 

6.2 Reporting .............................................................................................. 108
 

6.3 Disclosure of data .................................................................................. 111
 

7. Enforcement provisions ...................................................................................113
 

8. Mergers and acquisitions ................................................................................115
 

8.1 Determining coverage............................................................................ 115
 

8.2 Reporting responsibility for calendar year of merger or acquisition.... 115
 

8.3	 Changes to appropriate Federal agency or TIN .................................... 117
 

8.4	 Determining quarterly reporting coverage............................................ 117
 

8.5	 Applicability of partial exemptions under the 2018 Act after a merger or 

acquisition .............................................................................................118
 

9. Practical implementation and compliance considerations ...........................121
 

9.1 Identifying affected institutions, products, departments, and staff .....121
 

9.2 Implementation and compliance management support activities ...... 124
 

6 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Attachment A: .......................................................................................................... 126
 

Attachment B: .......................................................................................................... 128
 

Action taken chart ......................................................................................... 128
 

Attachment C: .......................................................................................................... 132
 

Sample notices ............................................................................................... 132
 

PAPERWORK REDUCTION ACT 

According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and, 

notwithstanding any other provision of law, a person is not required to respond to a collection of 

information unless it displays a valid OMB control number. The OMB control number for this 

collection is 3170-0008. It expires on November 30, 2022. The information collections created 

by the Final Rule published October 28, 2015 at 80 FR 66127 will not become effective until 

either three years from the date of publication of the rule or 2020 in the case of certain 

information collections. The time required to complete this information collection is estimated 

to average between 161 hours and 9,000 hours per response depending on the size of the 

institution. The obligation to respond to this collection of information is mandatory per the 

Home Mortgage Disclosure Act, 12 U.S.C. 2801-2810, as implemented by the Bureau’s 

Regulation C, 12 CFR part 1003. Comments regarding this collection of information, including 

the estimated response time, suggestions for improving the usefulness of the information, or 

suggestions for reducing the burden to respond to this collection should be submitted to the 

Bureau of Consumer Financial Protection (Attention: PRA Office), 1700 G Street NW, 

Washington, DC 20552, or by email to PRA@cfpb.gov. The other agencies collecting 

information under this regulation maintain OMB control numbers for their collections as 

follows: Office of the Comptroller of the Currency (1557–0159), the Federal Deposit Insurance 

Corporation (3064–0046), the Federal Reserve System (7100–0247), the Department of 

Housing and Urban Development (2502–0529), and the National Credit Union Administration 

(3133–0166). 

7 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

1. Introduction 

The Home Mortgage Disclosure Act (HMDA), which Congress enacted in 1975, requires certain 

financial institutions to collect, record, report, and disclose information about their mortgage 

lending activity. Regulation C implements HMDA and sets out specific requirements for the 

collection, recording, reporting, and disclosure of mortgage lending information. The datarelated requirements in HMDA and Regulation C serve three primary purposes: (1) to help 

determine whether financial institutions are serving their communities’ housing needs; (2) to 

assist public officials in distributing public investment to attract private investment; and (3) to 

assist in identifying potential discriminatory lending patterns and enforcing antidiscrimination 

statutes. 

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) 

transferred rulemaking authority for HMDA to the Bureau of Consumer Financial Protection 

(Bureau), effective July 2011. It also amended HMDA to require financial institutions to report 

new data points and authorized the Bureau to require financial institutions to collect, record, 

and report additional information. On August 29, 2014, the Bureau published proposed 

amendments to Regulation C to implement the Dodd-Frank Act changes and to make additional 

changes. The Bureau carefully reviewed and considered the comments it received on its 

proposed amendments. On October 15, 2015, the Bureau issued a final rule (2015 HMDA Rule) 

amending Regulation C. The 2015 HMDA Rule was published in the Federal Register on 

October 28, 2015. On August 24, 2017, the Bureau issued a final rule (2017 HMDA Rule) further 

amending Regulation C to make technical corrections and to clarify and amend certain 

requirements adopted by the 2015 HMDA Rule. The 2017 HMDA Rule was published in the 

Federal Register on September 13, 2017. On May 24, 2018, the President signed the Economic 

Growth, Regulatory Relief, and Consumer Protection Act (2018 Act) into law. Effective May 24, 

2018, Section 104(a) of the 2018 Act created partial exemptions from some of HMDA’s 

requirements for certain covered institutions. On August 31, 2018, the Bureau issued an 

interpretive and procedural rule (2018 HMDA Rule) to implement and clarify Section 104(a) of 

8 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
the 2018 Act. The 2018 HMDA Rule was published in the Federal Register on September 7, 

2018. On October 10, 2019, the Bureau issued a final rule (2019 Rule) to extend until January 1, 

2022 the current temporary loan-volume threshold for reporting data about open-end lines of 

credit and incorporate the 2018 HMDA Rule into Regulation C and implement further the 2018 

Act. The 2019 HMDA Rule was published in the Federal Register on October 29, 2019. 

In this guide, the 2015 HMDA Rule, 2017 HMDA Rule, 2018 HMDA Rule, and 2019 HMDA Rule 

are collectively referred to as the HMDA Rule. 

1.1 Purpose of this guide 

The purpose of this guide is to provide an easy-to-use summary of Regulation C to highlight 

information that financial institutions and those that work with them might find helpful when 

implementing the HMDA Rule. 

This guide meets the requirements of Section 212 of the Small Business Regulatory Enforcement 

Fairness Act of 1996, which requires the Bureau to issue a small entity compliance guide to help 

small entities comply with new regulations. Larger entities may also find this guide useful. 

This guide is not a substitute for the 2015 HMDA Rule, the 2017 HMDA Rule, the 

2018 HMDA Rule, 2019 HMDA Rule, or Regulation C. Regulation C, the 2015 HMDA 

Rule, the 2017 HMDA Rule, the 2018 HMDA Rule, the 2019 HMDA Rule, and the Official 

Interpretations (also known as the commentary) are the definitive sources of information 

regarding their requirements. The 2015 HMDA Rule, the 2017 HMDA Rule, 2018 HMDA Rule, 

and the 2019 HMDA Rule are available at http://www.consumerfinance.gov/regulatoryimplementation/hmda/. 

The focus of this guide is Regulation C and the HMDA Rule. Except when specifically needed to 

explain a provision of amended Regulation C, this guide does not discuss other Federal or State 

laws that may apply to mortgage lending. 

This guide has examples to illustrate some portions of the HMDA Rule. The examples do not 

include all possible factual situations that could illustrate a particular provision, trigger a 

particular obligation, or satisfy a particular requirement. Even though an example may identify 

a fictitious financial institution as, for example, “Ficus Bank” or “Ficus Mortgage Company,” the 

9 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

provision or obligation being illustrated in the example may apply to all financial institutions, 

including both depository and nondepository financial institutions. 

Sometimes this guide will distinguish between the requirements of the HMDA Rule and the 

requirements of Regulation C as they apply before a specific part of the HMDA Rule goes into 

effect. When making these distinctions, the guide generally refers to the requirements of 

Regulation C as they apply before a specific part of the HMDA Rule goes into effect as “current 

Regulation C.” However, it should be understood that this means the requirements of 

Regulation C as they are before the specific part of the HMDA Rule being discussed goes into 

effect, not Regulation C as of any specific date (such as the date the guide is being read). 

1.2 Additional implementation resources 

Additional resources to help institutions understand and comply with the HMDA Rule are 

available on the Bureau’s website at http://www.consumerfinance.gov/regulatoryimplementation/hmda/. 

A person who has a specific regulatory interpretation question about the HMDA Rule after 

reviewing these materials may submit the question on the Bureau’s website at 

https://reginquiries.consumerfinance.gov/. A person may also leave his or her question in a 

voicemail at 202-435-7700. Bureau staff provide only informal responses to regulatory 

inquiries, and the responses do not constitute official interpretations or legal advice. 

Generally, Bureau staff is not able to respond to specific inquiries the same business day or 

within a particular requested timeframe. Actual response times will vary based on the number 

of questions Bureau staff is handling and the amount of research needed to respond to a specific 

question. 

Technical questions about collecting or reporting HMDA data should be directed 

to hmdahelp@cfpb.gov. 

10 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

2. Key changes and effective 

dates 

The HMDA Rule changes: (1) the types of financial institutions that are subject to Regulation C; 

(2) the types of transactions that are subject to Regulation C; (3) the data that financial 

institutions are required to collect, record, and report; and (4) the processes for reporting and 

disclosing HMDA data. 

Most provisions of the HMDA Rule took effect on January 1, 2018 and apply to data collected in 

2018 and reported in 2019 or later years. The partial exemptions created by the 2018 Act 

became effective when the Act was signed into law on May 24, 2018. Further implementation of 

the 2018 Act, such as the application of partial exemptions after a merger or acquisition, is 

effective January 1, 2020. Certain changes regarding reporting and changes to the enforcement 

provisions regarding good faith efforts are effective January 1, 2019. The new quarterly 

reporting requirement and changes to the enforcement provisions for larger-volume reporters 

are effective January 1, 2020. Additionally, there are institutional and transactional coverage 

changes for open-end lines of credit that are effective January 1, 20221. 

This section summarizes these key changes and provides the effective date for each key change. 

For more detailed information on the HMDA Rule’s specific requirements, see Sections 3 

through 8. 

1

 In 2017, the Bureau temporarily increased the open-end threshold to 500 open-end lines of credit for calendar years 

2018 and 2019. In 2019, the Bureau extended to January 1, 2022 the temporary threshold of 500 open-end lines of 

credit for institutional and transactional coverage. See Home Mortgage Disclosure (Regulation C), 84 FR 57946 

(Oct. 29, 2019). 

11 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

2.1 Institutional coverage 

Effective January 1, 2018 for changes to institutional coverage; effective January 1, 2022 for a 

change to the loan-volume threshold for covered open-end lines of credit 

Effective January 1, 2018, the HMDA Rule 

adopts a uniform loan-volume threshold 

for all financial institutions. Beginning in 

2018, a financial institution is not subject 

to Regulation C unless it originated at least 

25 covered closed-end mortgage loans in 

each of the two preceding calendar years or 

at least 500 covered open-end lines of 

credit in each of the two preceding calendar 

years, and it meets other applicable 

coverage requirements. For depository 

financial institution coverage, the HMDA 

Rule maintains Regulation C’s asset-size 

threshold, location test, federally related 

test, and loan activity test. For 

nondepository financial institutions, the 

HMDA Rule retains the location test. A 

nondepository financial institution is 

subject to Regulation C, effective January 1, 2018, if it originated at least 25 covered closed-end 

mortgage loans or at least 500 covered open-end lines of credit in each of the two preceding 

calendar and meets the location test. 12 CFR 1003.2(g)(1) and (2). 

The 2018 Act added partial exemptions to 

HMDA. As discussed in Section 4.3, certain 

financial institutions are eligible for these 

partial exemptions from some of the HMDA 

Rule’s data collection and reporting 

requirements. Among other things, in order 

to be eligible for a partial exemption, a 

financial institution must be either an 

insured depository institution as defined in 

Section 3 of the Federal Deposit Insurance 

Act or an insured credit union as defined in 

Section 101 of the Federal Credit Union Act. 

As discussed in Section 4.3, an insured 

depository institution with a less than 

satisfactory Community Reinvestment Act 

examination history is not eligible for a 

partial exemption. 

Effective January 1, 2022, absent further rulemaking, the HMDA Rule reduces the loan-volume 

threshold for covered open-end lines of credit to 100 covered open-end lines of credit in each of 

the two preceding calendar years. 2 The other institutional coverage criteria do not change in 

2 The Bureau intends to address in a separate final rule the changes it proposed to the permanent coverage thresholds 

for open-end lines of credit. Id. 

12 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

2022. Thus, effective January 1, 2022, a depository financial institution or nondepository 

financial institution is subject to Regulation C if it originated at least 25 covered closed-end 

mortgage loans in each of the preceding two calendar years or at least 100 covered open-end 

lines of credit in each of the two preceding calendar years and meets the other applicable 

coverage criteria. 

For more information regarding which financial institutions are subject to the HMDA Rule, see 

Section 3 and the HMDA Institutional Coverage Charts. 

2.2 Transactional coverage 

Effective January 1, 2018 for data collected on or after January 1, 2018 (to be reported in or 

after 2019); effective January 1, 2022 and applicable for data collected on or after January 1, 

2022 (to be reported in or after 2023) for a change to the exclusion for open-end lines of credit. 

The HMDA Rule modifies the types of transactions that are subject to Regulation C and 

generally adopts a dwelling-secured standard for transactional coverage. 

Beginning on January 1, 2018, Regulation C generally applies to consumer-purpose, closed-end 

loans and open-end lines of credit that are secured by a dwelling. 12 CFR 1003.2(d), (e), and (o). 

A home improvement loan is not subject to Regulation C unless it is secured by a dwelling. 

Beginning on January 1, 2018, Regulation C applies to business-purpose, closed-end loans and 

open-end lines of credit that are dwelling-secured and are home purchase loans, home 

improvement loans, or refinancings. 12 CFR 1003.3(c)(10). For business-purpose transactions, 

the HMDA Rule creates a dwelling-secured standard and maintains current Regulation C’s 

purpose test. 

The HMDA Rule retains existing categories of excluded transactions, clarifies some categories of 

excluded transactions, and expands the existing exclusion for agricultural-purpose transactions. 

12 CFR 1003.3(c). It also adds new categories of excluded transactions that are designed to 

work in tandem with the HMDA Rule’s other changes. For example, closed-end mortgage loans 

are excluded transactions for a financial institution that does not originate 25 or more of them in 

each of the two preceding calendar years. Similarly, open-end lines of credit are excluded 

transactions for a financial institution that does not originate a certain number of them in each 

13 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

of the two preceding calendar years. For 2018,2019, 2020, and 2021, open-end lines of credit 

are excluded transactions for a financial institution that does not originate at least 500 of them 

in each of the two preceding calendar years. Effective January 1, 2022, open-end lines of credit 

are excluded transactions for a financial institution that does not originate at least 100 of them 

in each of the two preceding calendar years.3 

The HMDA Rule expands the types of 

preapproval requests that are reported, but 

also excludes requests regarding some types 

of loans from the scope of reportable 

preapproval requests. Under the HMDA 

Rule, reporting of preapproval requests that 

are approved but not accepted is required 

instead of optional. However, under the 

HMDA Rule, preapproval requests 

regarding home purchase loans to be 

secured by multifamily dwellings, 

preapproval requests for open-end lines of credit, and preapproval requests for reverse 

mortgages are not reportable. 

The 2018 Act created two partial exemptions: 

one for closed-end mortgage loans and one 

for open-end lines of credit. Transactions 

that are subject to the HMDA Rule and are 

covered by a partial exemption are still 

subject to some of the HMDA Rule’s 

requirements, and certain data points must 

be collected, recorded, and reported for such 

transactions. For more information on the 

partial exemptions, see Section 4.3. 

For more information regarding the transactions that are subject to the HMDA Rule, see Section 

4 and the HMDA Transactional Coverage Chart. 

3 A financial institution may collect, record, report, and disclose information, as described in §§ 1003.4 and 1003.5, 

for a closed-end mortgage loan excluded under § 1002.3(c)(11) or an open-end line of credit excluded under § 

1002.3(c)(12) as though it were a covered loan, provided that the financial institution complies with such 

requirements for all applications for closed-end mortgage loans or open-end lines of credit that it receives, 

originates, and purchases that otherwise would have been covered loans during the calendar year during which final 

action is taken on the excluded closed-end mortgage loan or open-end line of credit. 

14 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
2.3 Required data points 

Effective January 1, 2018 and applicable to data reported in or after 2019; partial exemptions 

effective May 24, 2018 and applicable for collection, recording, and reporting of data on or 

after May 24, 2018. 

The HMDA Rule adds the data points specified in the Dodd-Frank Act as well as data points that 

the Bureau determined will assist in carrying out HMDA’s purposes. For example, the HMDA 

Rule adds new data points for age, credit score, automated underwriting information, debt-toincome ratio, unique loan identifier, property value, application channel, points and fees, 

borrower-paid origination charges, discount points, lender credits, loan term, prepayment 

penalty, and identification of other loan features. 12 CFR 1003.4(a). The HMDA Rule also 

modifies some existing data points. 

Effective May 24, 2018, the 2018 Act created partial exemptions that permit certain financial 

institutions to exclude 26 data points when collecting, recording, and reporting HMDA data for 

certain transactions. If a partial exemption applies to a covered transaction, an insured 

depository institution or insured credit union may, but is not required to, collect, record, and 

report these 26 data points. However, the insured depository institution or insured credit union 

must collect, record, and report the remaining 22 data points as required by the HMDA Rule 

and otherwise comply with the HMDA Rule for such covered transactions. 

Generally, a financial institution collects, records, and reports the new and modified data points 

under the HMDA Rule for applications on which final action is taken on or after January 1, 

2018. However, if a partial exemption applies, an insured depository institution or insured 

credit union is not required to collect, record, or report many of these data points as discussed in 

Section 4.3.3. 

A financial institution collects, records, and reports the new and modified data points, to the 

extent that they apply to purchased loans, for purchases of covered loans that occur on or after 

January 1, 2018. 

For more information regarding the data points that must be reported under the HMDA Rule, 

see Section 5. For more information on the data points that must be reported if a partial 

exemption applies to a covered transaction, see Section 4.3.3. 

15 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
2.4 Collection and reporting of applicant 

information 

Effective January 1, 2018 for data collected in or after 2018 (to be reported in or after 2019) 

For data collected in or after 2018, the HMDA Rule amends the requirements for collection and 

reporting of information regarding an applicant’s or borrower’s ethnicity, race, and sex. 

First, the HMDA Rule adds a requirement to report how the institution collected the 

information about the applicant’s or borrower’s ethnicity, race, and sex. A financial institution 

reports whether or not it collected the information on the basis of visual observation or 

surname. 12 CFR 1003.4(a)(10)(i). Financial institutions are required to collect information 

about an applicant’s ethnicity, race, and sex on the basis of visual observation or surname when 

an applicant chooses not to provide the information for an application taken in person. 

Second, financial institutions must permit applicants to self-identify using disaggregated ethnic 

and racial subcategories and must report disaggregated information applicants provide. 

However, the HMDA Rule does not require or permit financial institutions to use the 

disaggregated subcategories when identifying the applicant’s ethnicity and race based on visual 

observation or surname. The HMDA Rule includes a new sample data collection form in 

appendix B that provides the required aggregated categories and disaggregated subcategories 

for ethnicity and race. Appendix B to Part 1003. 

For more information regarding the collection and reporting of applicant information under the 

HMDA Rule, see Section 5.1. 

2.5 Annual reporting 

Effective January 1, 2019 for changes requiring electronic submission of HMDA data in 2019 

and later years 

The HMDA Rule retains the requirement that a financial institution submit its HMDA data to its 

appropriate Federal agency by March 1 following the calendar year for which it collected the 

data, but requires electronic submission of the data. 

16 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

The Bureau developed a new web-based tool for electronically submitting HMDA data. Financial 

institutions are required to submit data electronically using the web-based tool beginning in 

2018 for data collected in 2017. For more information on the submission tool, see 

http://ffiec.cfpb.gov/. 

Beginning in 2019, financial institutions are required to submit the new dataset electronically in 

accordance with the HMDA Rule, using the new web-based submission tool and revised 

procedures available at http://ffiec.cfpb.gov/. 

For more information regarding annual reporting under the HMDA Rule, see Section 6.2.1. 

2.6 Quarterly reporting 

Effective January 1, 2020 for data collected and reported in or after 2020 

The HMDA Rule imposes a new quarterly reporting requirement for larger-volume reporters. 

In addition to their annual data submission, these larger-volume reporters will also 

electronically submit their HMDA data for each of the first three quarters of the year on a 

quarterly basis beginning in 2020. 12 CFR 1003.5(a)(1)(ii). 

For more information regarding quarterly reporting under the HMDA Rule, see Section 6.2.2. 

17 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

2.7 Disclosure requirements 

Effective January 1, 2018 for data collected on or after January 1, 2017 (to be reported in or 

after 2018) 

The HMDA Rule replaces Regulation C’s requirements to provide a disclosure statement and 

modified LAR4 to the public upon request with new requirements to provide notices that the 

institution’s disclosure statement and modified LAR are available on the Bureau’s website. 

12 CFR 1003.5(b)(2) and (c). 

The HMDA Rule also modifies the content of the posting required under Regulation C. 

The HMDA Rule includes sample language that financial institutions can use to provide notice 

that the institution’s HMDA data are available on the Bureau’s website and to comply with the 

posting requirement. These revised disclosure requirements are effective January 1, 2018 and 

apply to data collected on or after January 1, 2017 and reported in or after 2018. 

The Bureau’s policy guidance on the disclosure of loan-level HMDA data5 notes that for HMDA 

data collected by Financial Institutions in or after 2018 and made available to the public 

beginning in 2019, the Bureau intends to modify the public loan-level data to exclude certain 

fields and reduce the precision of most of the values reported for certain data fields. 

For more information regarding the disclosure requirements under the HMDA Rule, 

see Section 6.3. 

4 HMDA requires a financial institution to make available to the public, upon request, “loan application register 

information” in the form required under Regulation C, and requires the Bureau to determine if deletions from the 

information are appropriate to protect applicants’ and borrowers’ privacy interests or to protect financial 

institutions from liability under privacy laws. 12 USC 304(j). Prior to being disclosed to the public, LARs must be 

modified to remove loan application register information that the Bureau determines should be deleted. 

5 See Disclosure of Loan-Level HMDA Data, 84 FR 649 (Jan. 31, 2019) 

18 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
2.8 Enforcement provisions for largervolume reporters 

Effective January 1, 2020 

The HMDA Rule provides that inaccuracies or omissions in quarterly reporting are not 

violations of HMDA or Regulation C if the financial institution makes a good-faith effort to 

report quarterly data timely, fully, and accurately, and then corrects or completes the data prior 

to its annual submission. 12 CFR 1003.6(c)(2). For more information regarding the 

enforcement provisions of the HMDA Rule, see Section 7. 

19 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
3. Institutional coverage 

An institution is required to comply with Regulation C only if it is a “financial institution” as that 

term is defined in Regulation C. 

3.1 Institutional coverage on or after 

January 1, 2018 

An institution uses two definitions, which are outlined below, as coverage tests to determine 

whether it is a financial institution that is required to comply with Regulation C, on or after 

January 1, 2018. 

These coverage tests include loan-volume thresholds for closed-end mortgage loans and for 

open-end lines of credit. For open-end lines of credit, the HMDA Rule includes both a 

temporary higher threshold for open-end lines of credit that is effective January 1, 2018 and a 

lower threshold that takes effect January 1, 2022. These thresholds are discussed in more detail 

below. 

Although the HMDA Rule is the definitive source regarding the institutional coverage criteria, 

an institution may also find the 2018 HMDA Institutional Coverage Chart helpful when it is 

determining whether it is subject to Regulation C, on or after January 1, 2018. 

Throughout the remainder of this guide, an institution that meets the criteria set forth in the 

HMDA Rule’s definition of depository financial institution is referred to as a Depository 

Financial Institution, and an institution that meets the criteria set forth in the HMDA Rule’s 

definition of nondepository financial institution is referred to as a Nondepository Financial 

Institution. The capitalized term Financial Institution refers to an institution that is either a 

20 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
Depository Financial Institution or a Nondepository Financial Institution and that is an 

institution that is subject to HMDA Rule. 

3.1.1 Depository financial institutions 

Under the HMDA Rule, effective January 1, 2018, a bank, savings association, or credit union is 

a Depository Financial Institution, a Financial Institution, and subject to Regulation C if it meets 

ALL6 of the following: 

1.	 Asset-Size Threshold. On the preceding December 31, the bank, savings association, or 

credit union had assets in excess of the asset-size threshold published annually in the 

Federal Register and posted on the Bureau’s website. The phrase “preceding December 31” 

refers to the December 31 immediately preceding the current calendar year. For example, in 

2018, the preceding December 31 is December 31, 2017. 12 CFR 1003.2(g)(1)(i). 

2.	 Location Test. On the preceding December 31, the bank, savings association, or credit 

union had a home or Branch Office located in an MSA. 12 CFR 1003.2(g)(1)(ii). 

For purposes of this location test, a Branch Office for a bank, savings association, or credit 

union is an office: (a) of the bank, savings association, or credit union (b) that is considered 

a branch by the institution’s Federal or State supervisory agency. For purposes of the 

HMDA Rule, an automated teller machine or other free-standing electronic terminal is not a 

Branch Office regardless of whether the supervisory agency would consider it a branch. 

12 CFR 1003.2(c)(1). A Branch Office of a credit union is any office where member accounts 

are established or loans are made, whether or not an agency has approved the office as a 

branch. Comment 2(c)(1)-1. 

3.	 Loan Activity Test. During the preceding calendar year, the bank, savings association, or 

credit union originated at least one Home Purchase Loan or Refinancing of a Home 

Purchase Loan secured by a first lien on a one-to-four-unit Dwelling. 

12 CFR 1003.2(g)(1)(iii). 

6 When determining whether it meets these criteria on or after January 1, 2018, a bank, savings association, or credit 

union relies on the definitions in the HMDA Rule. 

21 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

For more information on whether a loan is secured by a Dwelling, is a Home Purchase Loan, 

or is a Refinancing of a Home Purchase Loan, see Sections 4.1.1.2 and 5.7. 

4.		 Federally Related Test. The bank, savings association, or credit union: 

a.		Is federally insured; or 

b.		Is federally regulated; or 

c.		Originated at least one Home Purchase Loan or Refinancing of a Home Purchase Loan 

that was secured by a first lien on a one-to-four-unit Dwelling and also (i) was insured, 

guaranteed or supplemented by a Federal agency or (ii) was intended for sale to Fannie 

Mae or Freddie Mac. 12 CFR 1003.2(g)(1)(iv). 

5.		 Loan-Volume Thresholds. The bank, savings association, or credit union meets or 

exceeds either the loan-volume threshold for Closed-End Mortgage Loans or the loanvolume threshold for Open-End Line of Credits in each of the two preceding calendar years. 

Effective January 1, 2018, the loan-volume threshold for Closed-End Mortgage Loans is 25 

Closed-End Mortgage Loans, and the loan-volume threshold for Open-End Lines of Credit is 

500 Open-End Lines of Credit. The 500 Open-End Line of Credit threshold is temporary 

and applies in calendar years 2018, 2019, 2020, and 2021. Effective January 1, 2022, the 

loan-volume threshold for Open-End Lines of Credit is 100 Open-End Lines of Credit. 

Effective January 1, 2018 and until December 31, 2021, a bank, savings association or credit 

union that originated at least 25 Closed-End Mortgage Loans in each of the two preceding 

calendar years, or originated at least 500 Open-End Lines of Credit in each of the two preceding 

calendar years meets or exceeds the loan-volume threshold. 

Effective January 1, 2022, a bank, savings association or credit union that originated at least 25 

Closed-End Mortgage Loans in each of the two preceding calendar years, or originated at least 

100 Open-End Lines of Credit in each of the two preceding calendar years meets or exceeds the 

loan-volume threshold. 

When the bank, savings association, or credit union determines whether it meets these loanvolume thresholds, it does not count transactions excluded by 12 CFR 1003.3(c)(1) through 

(10) and (13). 12 CFR 1003.2(g)(1)(v). These Excluded Transactions are discussed below in 

Section 4.1.2 in paragraphs 1 through 10 and in paragraph 13. For more information on 

Closed-End Mortgage Loans, Open-End Lines of Credit, and Excluded Transactions, see 

Section 4.1. 

22 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

When determining if it meets the loan-volume thresholds, a bank, savings association, or 

credit union only counts Closed-End Mortgage Loans and Open-End Lines of Credit that it 

originated. Only one institution is deemed to have originated a specific Closed-End 

Mortgage Loan or Open-End Line of Credit under the HMDA Rule, even if two or more 

institutions are involved in the origination process. Only the institution that is deemed to 

have originated the transaction under the HMDA Rule counts it for purposes of the loanvolume threshold. Comments 2(g)-5; see also comments 4(a)-2 through -4. For more 

information on how to determine whether an institution is deemed to have originated a 

transaction under the HMDA Rule, see Section 4.2.3. 

The HMDA Rule also includes a separate test to ensure that Financial Institutions that meet 

only the Closed-End Mortgage Loan threshold are not required to report their Open-End 

Lines of Credit, and that Financial Institutions that meet only the Open-End Line of Credit 

threshold are not required to report their Closed-End Mortgage Loans. 12 CFR 1003.3(c)(11) 

and (12). For more information, see Section 4.1.2. 

3.1.2 Nondepository financial institutions 

Under the HMDA Rule, effective January 1, 2018, a for-profit mortgage-lending institution 

(other than a bank, savings association, or credit union) is a Nondepository Financial 

Institution, a Financial Institution, and subject to Regulation C if it meets BOTH7 of the 

following: 

1.	 Location Test. The mortgage-lending institution had a home or Branch Office in an MSA 

on the preceding December 31. The phrase “preceding December 31” refers to the December 

31 immediately preceding the current calendar year. For example, in 2018, the preceding 

December 31 is December 31, 2017. 12 CFR 1003.2(g)(2)(i). 

For purposes of this location test, a Branch Office of a for-profit mortgage-lending 

institution is: (a) any one of the institution’s offices (b) at which the institution takes from 

the public Applications for Covered Loans. A mortgage-lending institution is also deemed to 

have a Branch Office in an MSA if, in the preceding calendar year, it received Applications 

for, originated, or purchased five or more Covered Loans related to property located in that 

7 When determining whether it meets these criteria on or after January 1, 2018, a mortgage-lending institution relies 

on the definitions in the HMDA Rule. 

23 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

MSA. 12 CFR 1003.2(c)(2). For more information on Applications and Covered Loans, see 

Section 4. 

2.	 Loan-Volume Thresholds. The mortgage-lending institution meets or exceeds either the 

Closed-End Mortgage Loan loan-volume threshold or the Open-End Line of Credit loanvolume threshold in each of the two preceding calendar years. Effective January 1, 2018, the 

loan-volume threshold for Closed-End Mortgage Loans is 25 Closed-End Mortgage Loans 

and the loan-volume threshold for Open-End Lines of Credit is 500 Open-End Lines of 

Credit. The 500 Open-End Line of Credit threshold is temporary and applies in calendar 

years 2018, 2019, 2020, and 2021. Effective January 1, 2022, the loan-volume threshold for 

Open-End Lines of Credit is 100 Open-End Lines of Credit. 

Effective January 1, 2018 and until December 31, 2021, a mortgage-lending institution that 

originated at least 25 Closed-End Mortgage Loans in each of the two preceding calendar years, 

or originated at least 500 Open-End Lines of Credit in each of the two preceding calendar years 

meets or exceeds the loan-volume threshold. 

Effective January 1, 2022, a mortgage-lending institution that originated at least 25 Closed-End 

Mortgage Loans in each of the two preceding calendar years, or originated at least 100 OpenEnd Lines of Credit in each of the two preceding calendar years meets or exceeds the loanvolume threshold. 

When an institution determines whether it meets the loan-volume thresholds, it does not 

count transactions excluded by 12 CFR 1003.3(c)(1) through (10) and 

(13). 12 CFR 1003.2(g)(2)(ii). These Excluded Transactions are discussed below in Section 

4.1.2 in paragraphs 1 through 10 and paragraph 13. For more information on Closed-End 

Mortgage Loans, Open-End Lines of Credit, and Excluded Transactions, see Section 4.1. 

When determining if it meets the loan-volume thresholds, a mortgage-lending institution 

only counts Closed-End Mortgage Loans and Open-End Lines of Credit that it originated. 

Only one institution is deemed to have originated a specific Closed-End Mortgage Loan or 

Open-End Line of Credit under the HMDA Rule, even if two or more institutions are 

involved in the origination process. Only the institution that is deemed to have originated 

the transaction under the HMDA Rule counts it for purposes of the loan-volume threshold. 

Comment 2(g)-5. See also comments 4(a)-2 through -4. For more information on how to 

determine whether an institution is deemed to have originated a transaction under the 

HMDA Rule, see Section 4.2.3. The HMDA Rule also includes a separate test to ensure that 

Financial Institutions that meet only the Closed-End Mortgage Loan threshold are not 

required to report their Open-End Lines of Credit, and that Financial Institutions that meet 

24 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
only the Open-End Line of Credit threshold are not required to report their Closed-End 

Mortgage Loans. 12 CFR 1003.3(c)(11) and (12). For more information, see Section 4.1.2. 

3.2 Exempt institutions 

Regulation C provides that Financial Institutions may apply for an exemption from coverage, 

and the HMDA Rule does not change this provision. Specifically, the Bureau may exempt a 

State-chartered or State-licensed Financial Institution if the Bureau determines that the 

Financial Institution is subject to a State disclosure law that contains requirements substantially 

similar to those imposed by Regulation C and adequate enforcement provisions. Any Statelicensed or State-chartered Financial Institution or association of such institutions may apply to 

the Bureau for an exemption. An exempt institution shall submit the data required by State law 

to its State supervisory agency. 12 CFR 1003.3(a). A Financial Institution that loses its 

exemption must comply with Regulation C beginning with the calendar year following the year 

for which it last reported data under the State disclosure law. 12 CFR 1003.3(b). 

25 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

4. Transactional coverage 

A Financial Institution is required to collect, record, and report information only for 

transactions that are subject to Regulation C. Effective January 1, 2018, the HMDA Rule 

changes the types of transactions that are subject to Regulation C. This guide uses the 

capitalized term Covered Loan to refer to a loan or line of credit that is subject to Regulation C, 

effective January 1, 2018. As of that date, a Financial Institution is required to collect, record, 

and report information only for a transaction that involves a Covered Loan, such as the 

origination or purchase of a Covered Loan. 

A Financial Institution can use Section 4.1 of this guide, below, for assistance in determining 

whether a transaction involves a Covered Loan. 

After a Financial Institution has determined that a transaction involves a Covered Loan, it can 

use Section 4.2 for assistance in determining whether the HMDA Rule requires it to collect, 

record, and report information related to the transaction. A Financial Institution can use 

Section 4.3 to help it determine if a transaction that involves a Covered Loan is partially exempt 

from some of the HMDA Rule’s requirements for collecting, recording, and reporting 

information. 

4.1 Covered loans 

A Covered Loan can be either a Closed-End Mortgage Loan or an Open-End Line of Credit (see 

Section 4.1.1), but an Excluded Transaction cannot be a Covered Loan (see Section 4.1.2). 

12 CFR 1003.2(e). 

To determine if a transaction is subject to amended Regulation C, effective January 1, 2018, a 

Financial Institution should first determine whether the loan or line of credit involved in the 

transaction is either a Closed-End Mortgage Loan or an Open-End Line of Credit. See Section 

26 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

4.1.1. If the loan or line of credit is neither a Closed-End Mortgage Loan nor an Open-End Line 

of Credit, the transaction does not involve a Covered Loan, and the Financial Institution is not 

required to report the transaction. If the loan or line of credit is either a Closed-End Mortgage 

Loan or an Open-End Line of Credit, the Financial Institution must determine if the Closed-End 

Mortgage Loan or Open-End Line of Credit is an Excluded Transaction. See Section 4.1.2. If the 

Closed-End Mortgage Loan or an Open-End Line of Credit is an Excluded Transaction, it is not a 

Covered Loan, and the Financial Institution is not required to report the transaction. If the loan 

or line of credit is a Closed-End Mortgage Loan or an Open-End Line of Credit and is not an 

Excluded Transaction, the Financial Institution may be required to report information related to 

the transaction. See Sections 4.2 and 4.3. 

4.1.1 Closed-end mortgage loans and open-end lines of 

credit 

A Closed-End Mortgage Loan is: 

1.	 An extension of credit; 

2.	 Secured by a lien on a Dwelling; and 

3.	 Not an Open-End Line of Credit. 12 CFR 1003.2(d). 

An Open-End Line of Credit is: 

1.	 An extension of credit; 

2.	 Secured by a lien on a Dwelling; and 

3.	 An open-end credit plan for which: 

a.	 The lender reasonably contemplates repeated transactions; 

b. The lender may impose a finance charge from time-to-time on an outstanding unpaid 

balance; and 

c.	 The amount of credit that may be extended to the borrower during the term of the plan 

(up to any limit set by the lender) is generally made available to the extent that any 

outstanding balance is repaid. 12 CFR 1003.2(o); 12 CFR 1026.2(a)(20). 

27 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

Financial Institutions may rely on Regulation Z, 12 CFR 1026.2(a)(20),8 and its official 

commentary when determining whether a transaction is extended under a plan for which the 

lender reasonably contemplates repeated transactions, the lender may impose a finance charge 

from time-to-time on an outstanding unpaid balance, and the amount of credit that may be 

extended to the borrower during the term of the plan is generally made available to the extent 

that any outstanding balance is repaid. 

A business-purpose transaction that is exempt from Regulation Z but is otherwise open-end 

credit under Regulation Z, 12 CFR 1026.2(a)(20), would be an Open-End Line of Credit under 

the HMDA Rule if it is an extension of credit secured by a lien on a Dwelling and is not an 

Excluded Transaction. Comment 2(o)-1. 

4.1.1.1 Extension of credit 

A closed-end loan or open-end line of credit is not a Closed-End Mortgage Loan or an Open-End 

Line of Credit under the HMDA Rule unless it involves an extension of credit. Depending on the 

facts and circumstances, some transactions completed pursuant to installment sales contracts, 

such as some land contracts, may not be Closed-End Mortgage Loans because no credit is 

extended. Comment 2(d)-2. Individual draws on an Open-End Line of Credit are not separate 

extensions of credit. Comment 2(o)-2. 

Under the HMDA Rule, an “extension of credit” generally requires a new debt obligation. 

Comment 2(d)-2. Thus, for example, a loan modification where the existing debt obligation is 

not satisfied and replaced is not generally a Covered Loan (i.e., Closed-End Mortgage Loan or 

Open-End Line of Credit) under the HMDA Rule. Except as described below, if a transaction 

modifies, renews, extends, or amends the terms of an existing debt obligation, but the existing 

debt obligation is not satisfied and replaced, the transaction is not a Covered Loan. It is 

important to note that the HMDA Rule defines the phrase “extension of credit” differently than 

Regulation B, 12 CFR part 1002.9 Comment 2(d)-2 and 2(o)-2. 

8 Regulation Z, 12 CFR part 1026, implements the Truth in Lending Act. 

9 Regulation B, 12 CFR part 1002, implements the Equal Credit Opportunity Act. 

28 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
The HMDA Rule provides two narrow exceptions to the requirement that an “extension of 

credit” involve a new debt obligation. The exceptions are designed to capture transactions that 

the Bureau believes are substantially similar to new debt obligations and should be treated as 

such. 

First, the HMDA Rule maintains Regulation C’s coverage of loan assumptions, even if no new 

debt obligation is created. A loan assumption is a transaction in which a Financial Institution 

enters into a written agreement accepting a new borrower in place of an existing borrower as the 

obligor on an existing debt obligation. The HMDA Rule clarifies that, under Regulation C, 

assumptions include successor-in-interest transactions in which an individual succeeds the 

prior owner as the property owner and then assumes the existing debt secured by the property. 

Assumptions are extensions of credit under the HMDA Rule even if the new borrower merely 

assumes the existing debt obligation and no new debt obligation is created. Comment 2(d)-2.i. 

Second, the HMDA Rule provides that a transaction completed pursuant to a New York State 

consolidation, extension, and modification agreement and classified as a supplemental 

mortgage under New York Tax Law Section 255, such that the borrower owes reduced or no 

mortgage recording taxes, (New York CEMA) is an extension of credit under the HMDA Rule. 

However, the HMDA Rule also provides that certain transactions providing new funds that are 

consolidated into a New York CEMA are excluded from the HMDA reporting requirements. 

Comment 2(d)-2.ii. See Section 4.1.2 for additional information on the exclusion for certain 

transactions consolidated into a New York CEMA. 

4.1.1.2 Secured by a lien on a dwelling 

A loan is not a Closed-End Mortgage Loan and a line of credit is not an Open-End Line of Credit 

unless it is secured by a lien on a Dwelling. 

A Dwelling is a residential structure. There is no requirement that the structure be attached to 

real property or that it be the applicant’s or borrower’s residence. Examples of Dwellings 

include: 

1. Principal residences; 

2. Second homes and vacation homes; 

3. Investment properties; 

29 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

4.	 Residential structures attached to real property; 

5.	 Detached residential structures; 

6.	 Individual condominium and cooperative units; 

7.	 Manufactured Homes10 or other factory-built homes; and 

8.	 Multifamily residential structures or communities, such as apartment buildings, 

condominium complexes, cooperative 

buildings or housing complexes, and 

Manufactured Home communities. 

12 CFR 1003.2(f); comments 2(f)-1 

and -2. 

A Dwelling is not limited to a structure 

that has four or fewer units and includes a 

Multifamily Dwelling, which is a Dwelling 

that contains five or more individual 

dwelling units. A Multifamily Dwelling 

includes a Manufactured Home 

community. 

A loan is not secured by a Multifamily 

Dwelling for purposes of the HMDA Rule 

merely because it is secured by five or more 

individual units. In order for a loan to be 

secured by a Multifamily Dwelling, the 

Dwelling must contain five or more 

individual units. See comment 2(n)-3 for 

examples of when a loan is and is not secured 

by a Multifamily Dwelling. 

Examples: A landlord obtains a closed-end mortgage loan from a Financial Institution 

and uses the proceeds to improve five separate Dwellings, each with one individual unit, 

located in different parts of a town. The loan is secured by the five separate Dwellings, 

but is not secured by a Multifamily Dwelling. 

10 A Manufactured Home is a residential structure that satisfies the definition of “manufactured home” in the U.S. 

Department of Housing and Urban Development’s (HUD’s) regulations, 24 CFR 3280.2, for establishing 

manufactured home construction and safety standards. 12 CFR 1003.2(l). A modular home or factory-built home 

that does not meet HUD’s regulations is not a Manufactured Home under the HMDA Rule. A Manufactured Home 

will generally bear a HUD Certification Label and data plate noting compliance with the Federal standards. 

Comment 2(l)-2. 

30 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
An investor obtains a closed-end mortgage loan from a Financial Institution and uses the 

proceeds to purchase ten individual condominium units in a 100-unit condominium 

complex. The loan is secured by the ten individual units, but not by the entire 

condominium complex. The loan is secured by the ten separate Dwellings, but is not 

secured by a Multifamily Dwelling. 

A loan related to a Manufactured Home community is secured by a Dwelling even if it is not 

secured by any individual Manufactured Homes, but is secured only by the land that constitutes 

the Manufactured Home community. However, a loan related to a multifamily residential 

structure or community other than a Manufactured Home community is not secured by a 

Dwelling unless it is secured by one or more individual dwelling units. For example, a loan that 

is secured only by the common areas of a condominium complex or only by an assignment of 

rents from an apartment building is not secured by a Dwelling. Comment 2(f)-2. 

The following are not Dwellings: 

1.	 Recreational vehicles, such as boats, campers, travel trailers, or park model recreational 

vehicles; 

2.	 Houseboats, floating homes, or mobile homes constructed before June 15, 1976; 

3.	 Transitory residences, such as hotels, hospitals, college dormitories, or recreational 

vehicle parks; and 

4.	 Structures originally designed as a Dwelling but used exclusively for commercial 

purposes, such as a home converted to a daycare facility or professional office. Comment 

2(f)-3. 

A property that is used for both residential and commercial purposes, such as a building that has 

apartment and retail units, is a Dwelling if the property’s primary use is residential. Comment 

2(f)-4. 

A property used for both long-term housing and to provide assisted living or supportive housing 

services is a Dwelling. However, transitory residences used to provide such services are not 

Dwellings. Properties used to provide medical care, such as skilled nursing, rehabilitation, or 

long-term medical care, are not Dwellings. If a property is used for long-term housing, to 

31 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

provide related services (such as assisted living) and to provide medical care, the property is a 

Dwelling if its primary use is residential. Comment 2(f)-5. 

A Financial Institution may use any reasonable standard to determine a property’s primary use, 

such as square footage, income generated, or number of beds or units allocated for each use. It 

may select the standard on a case-by-case basis. Comments 2(f)-4 and -5. 

4.1.2 Excluded transactions 

Regulation C does not apply to transactions that are specifically excluded from coverage. 

12 CFR 1003.3(c). Therefore, an Excluded Transaction is not a Covered Loan. The HMDA Rule 

retains and clarifies existing categories of transactions that are excluded from coverage. It also 

expands the existing exclusion for agricultural loans, and adds new categories of transactions 

that are excluded from coverage. Effective January 1, 2018, the following are Excluded 

Transactions: 

1.	 A Closed-End Mortgage Loan or an Open-End Line of Credit that a Financial Institution 

originates or purchases in a fiduciary capacity, such as a Closed-End Mortgage Loan or an 

Open-End Line of Credit that a Financial Institution originates or purchases as a trustee. 

12 CFR 1003.3(c)(1); comment 3(c)(1). 

2.	 A Closed-End Mortgage Loan or an Open-End Line of Credit secured by a lien on 

unimproved land. 12 CFR 1003.3(c)(2). Generally, a loan or line of credit must be secured 

by a Dwelling to be a Covered Loan. The HMDA Rule also lists Closed-End Mortgage Loans 

and Open-End Lines of Credit secured only by vacant or unimproved land as Excluded 

Transactions. However, a loan or line of credit secured by a lien on unimproved land is 

deemed to be secured by a Dwelling (and might not be excluded) if the Financial Institution 

knows, based on information that it receives from the applicant or borrower at the time the 

Application is received or the credit decision is made, that the proceeds of that loan or credit 

line will be used within two years after closing or account opening to construct a Dwelling 

on, or to purchase a Dwelling to be placed on, the land. Comment 3(c)(2)-1. 

32 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

3.	 A Closed-End Mortgage Loan or an Open-End Line of Credit that is temporary financing. A 

transaction is excluded as temporary financing if it is designed to be replaced by separate 

permanent financing extended to the same borrower at a later time. The separate 

permanent financing may be extended by any lender (i.e., by either the lender that extended 

the temporary financing or another lender). A construction-only loan or line of credit is 

considered temporary financing and excluded under the HMDA Rule if the loan or line of 

credit is extended to a person exclusively to construct a Dwelling for sale. 

Comment 3(c)(3)-2. 

Examples: Ficus Bank extends a bridge or swing loan to finance a borrower’s down 

payment for a home purchase. The borrower will pay off the bridge or swing loan with 

funds from the sale of his or her existing home and obtain permanent financing from 

Ficus Bank at that time. The bridge or swing loan is excluded as temporary financing. 

Ficus Bank extends a construction loan to a borrower to finance construction of the 

borrower’s Dwelling. The borrower will obtain a new extension of credit for permanent 

financing of the Dwelling from either Ficus Bank or another lender. Ficus Bank renews 

the construction loan several times before the borrower obtains a new extension of credit 

from another lender for permanent financing. The construction loan is excluded as 

temporary financing. 

Ficus Bank extends a construction loan to a borrower to finance construction of the 

borrower’s Dwelling. The construction loan will automatically convert to permanent 

financing after the construction phase is complete. The construction loan is not 

temporary financing because it is not designed to be “replaced by” separate permanent 

financing. 

Ficus Bank extends a nine-month loan to an investor, who uses the loan proceeds to 

purchase a home, renovate it, and sell it before the loan term expires. The loan is not 

temporary financing because it is not designed to be “replaced by” separate permanent 

financing. 

4.	 The purchase of an interest in a pool of Closed-End Mortgage Loans or Open-End Lines of 

Credit, such as mortgage-participation certificates, mortgage-backed securities, or real estate 

mortgage investment conduits. 12 CFR 1003.3(c)(4); comment 3(c)(4)-1. 

33 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

5.	 The purchase solely of the right to service Closed-End Mortgage Loans or Open-End Lines of 

Credit. 12 CFR 1003.3(c)(5). 

6.	 The purchase of a Closed-End Mortgage Loan or an Open-End Line of Credit as part of a 

merger or acquisition or as part of the acquisition of all of a Branch Office’s assets and 

liabilities. 12 CFR 1003.3(c)(6); comment 3(c)(6)-1. For more information on mergers and 

acquisitions under the HMDA Rule, see Section 8. 

7.	 A Closed-End Mortgage Loan or an Open-End Line of Credit, or an Application for a ClosedEnd Mortgage Loan or Open-End Line of Credit, for which the total dollar amount is less 

than $500. 12 CFR 1003.3(c)(7). 

8.	 The purchase of a partial interest in a Closed-End Mortgage Loan or an Open-End Line of 

Credit. 12 CFR 1003.3(c)(8); comment 3(c)(8)-1. 

9.	 A Closed-End Mortgage Loan or an Open-End Line of Credit if the proceeds are used 

primarily for agricultural purposes or if the Closed-End Mortgage Loan or Open-End Line of 

Credit is secured by a Dwelling that is located on real property that is used primarily for 

agricultural purposes. 12 CFR 1003.3(c)(9); comment 3(c)(9)-1. The HMDA Rule directs 

Financial Institutions to Regulation Z’s official commentary for guidance on what is an 

agricultural purpose. Regulation Z’s official commentary states that agricultural purposes 

include planting, propagating, nurturing, harvesting, catching, storing, exhibiting, 

marketing, transporting, processing, or manufacturing food, beverages, flowers, trees, 

livestock, poultry, bees, wildlife, fish or shellfish by a natural person engaged in farming, 

fishing, or growing crops, flowers, trees, livestock, poultry, bees or wildlife. See comment 

3(a)-8 in the official interpretations of Regulation Z, 12 CFR part 1026. A Financial 

Institution may use any reasonable standard to determine the primary use of the property, 

and may select the standard to apply on a case-by-case basis. Comment 3(c)(9)-1. 

10. A Closed-End Mortgage Loan or an Open-End Line of Credit that is or will be made 

primarily for business or commercial purposes, unless it is a Home Improvement Loan, a 

Home Purchase Loan, or a Refinancing. 12 CFR 1003.3(c)(10). Not all transactions that are 

primarily for a business purpose are Excluded Transactions. Thus, a Financial Institution 

must collect, record, and report data for Dwelling-secured, business-purpose loans and lines 

of credit that are Home Improvement Loans, Home Purchase Loans, or Refinancings if no 

other exclusion applies. For more information on determining whether a loan or line of 

credit is a Home Purchase Loan, Home Improvement Loan, or Refinancing, see Section 5.7. 

The HMDA Rule provides that, if a Closed-End Mortgage Loan or an Open-End Line of
 

Credit is deemed to be primarily for a business, commercial, or organizational purposes 

34 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

under Regulation Z, 12 CFR 1026.3(a) and its official commentary, then the loan or line of 

credit also is deemed to be primarily for a business or commercial purpose under the HMDA 

Rule. Comment 3(c)(10)-2. For more information and examples of business-purpose or 

commercial-purpose transactions that are Covered Loans, see comment 3(c)(10)-3 and -4. 

11. A Closed-End Mortgage Loan if the Financial Institution originated fewer than 25 ClosedEnd Mortgage Loans in either of the two preceding calendar years. 12 CFR 1003.3(c)(11); 

comment 3(c)(11)-1. A Financial Institution is not required to collect, record, or report 

Closed-End Mortgage Loans if it originated fewer than 25 of them in either of the two 

preceding calendar years. However, the Financial Institution may still be required to collect 

and report information regarding Open-End Lines of Credit, depending on the number of 

Open-End Lines of Credit it originates in the preceding two calendar years. For more 

information on how to determine if a Financial Institution “originated” a particular loan 

when multiple entities are involved in the transaction, see Section 4.2.3. 

A Financial Institution may report applications for, originations of, and purchases of ClosedEnd Mortgage Loans that are excluded transactions under 12 CFR 1003.3(c)(11). However a 

Financial Institution that chooses to report such excluded applications, originations, and 

purchases must report all such applications it received for Closed-End Mortgage Loans, all 

Closed-End Mortgage Loans it originates, and all Closed-End Mortgage Loans it purchases 

that would otherwise be Covered Loans for a given calendar year. 12 CFR 1003.3(c)(11). 

Effective January 1, 2018, Regulation B permits a Financial Institution to collect information 

regarding the ethnicity, race, and sex of an applicant for a Closed-End Mortgage Loan that is 

an excluded transaction under 12 CFR 

1003.3(c)(11), if the Financial Institution 

submits HMDA data concerning such 

Closed-End Mortgage Loans and 

applications or if it submitted such 

HMDA data for any of the preceding five 

calendar years. See the final rule issued 

on September 20, 2017. 

12. An Open-End Line of Credit if the 

number of Open-End Lines of Credit that 

the Financial Institution originated in 

either of the two preceding calendar years 

does not meet or exceed the applicable 

threshold. 12 CFR 1003.3(c)(12); 

comment 3(c)(12)-1. Effective January 1, 

When an institution determines whether it 

meets the loan-volume thresholds, it does 

not count transactions excluded by 

12 CFR 1003.3(c)(1) through (10) and 

(13). 12 CFR 1003.2(g)(2)(ii). These 

Excluded Transactions are discussed in this 

Section 4.1.2 in paragraphs 1 through 10 and 

paragraph 13. When determining if it meets 

the loan-volume thresholds, a Financial 

Institution only counts Closed-End Mortgage 

Loans or Open-End Lines of Credit, as 

applicable, that it originated. 

35 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

2018 until December 31, 2021, the applicable threshold is 500 Open-End Lines of Credit. 

During this time period, a Financial Institution is not required to collect, record, or report 

Open-End Lines of Credit if it originated fewer than 500 of them in either of the two 

preceding calendar years. Effective January 1, 2022, the applicable threshold will be 100 

Open-End Lines of Credit. Effective January 1, 2022, a Financial Institution is not required 

to collect, record, or report Open-End Lines of Credit if it originated fewer than 100 of them 

in either of the two preceding calendar years. Comment 3(c)(12)-1. However, the Financial 

Institution will still be required to collect and report information regarding Closed-End 

Mortgage Loans if it originated at least 25 of them in each of the two preceding calendar 

years. For more information on how to determine if a Financial Institution “originated” a 

particular line of credit when multiple entities are involved in the transaction, see Section 

4.2.3. 

A Financial Institution may report applications for, originations of, or purchases of OpenEnd Lines of Credit that are excluded transactions under 12 CFR 1003.3(c)(12). However, a 

Financial Institution that chooses to report such excluded applications, originations, or 

purchases must report all applications for Open-End Lines of Credit that it receives, all 

Open-End Lines of Credit it originates, and all Open-End Lines of Credit it purchases that 

would otherwise be Covered Loans for a given calendar year. 12 CFR 1003.3(c)(12); 

comment 3(c)(12)-2. Effective January 1, 2018, Regulation B permits a Financial Institution 

to collect information regarding the ethnicity, race, and sex of an applicant for an Open-End 

Line of Credit that is an excluded transaction under 12 CFR 1003.3(c)(12), if it submits 

HMDA data concerning such Open-End Lines of Credits and applications or if it submitted 

such HMDA data for any of the preceding five calendar years. See the final rule issued on 

September 20 2017. 

13. A transaction that provided (or, in the case of an application, proposed to provide) new 

funds to the borrower in advance of being consolidated in a New York CEMA classified as a 

supplemental mortgage under New York Tax Law section 255. However, the transaction is 

excluded only if final action on the consolidation was taken in the same calendar year as the 

final action on the new funds transaction. 12 CFR 1003.3(13). Additionally, the transaction 

is excluded only if, at the time that it originated the transaction providing the new funds, the 

Financial Institution intended to consolidate the loan into a New York CEMA. This 

exclusion does not apply to similar preliminary transactions that are consolidated pursuant 

to laws other than New York Tax Law section 255. Such preliminary transactions under 

other laws must be reported if they are Covered Loans and are not subject to another 

exclusion. Comment 3(c)(13)-1. 

36 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

New funds provided in advance of being consolidated into a New York CEMA classified as a 

supplemental mortgage under New York Tax Law section 255 are reported only insofar as 

they form part of the total amount of the reported New York CEMA. They are not reported 

as a separate amount. If a New York CEMA that consolidates an excluded preliminary 

transaction is carried out in a transaction involving an assumption, the Financial Institution 

reports the New York CEMA and does not report the preliminary transaction separately. 

Comment 3(c)(13)-1. 

4.2 Reportable activity 

Once a Financial Institution has determined whether a transaction involves a Covered Loan, it 

must determine whether it has engaged in activity that obligates it to report information about 

the transaction. Generally, a Financial Institution is required to report information for actions 

taken on Applications (as that term is defined below) for Covered Loans, originations of Covered 

Loans, and purchases of Covered Loans. If a Financial Institution receives an Application and 

that Application results in the Financial Institution originating a Covered Loan, the Financial 

Institution reports the origination of the Covered Loan, and does not separately report the 

Application. For more information on when to report information regarding Applications and 

Covered Loans, see Sections 4.2.1 and 4.2.2. There are special rules that apply if multiple 

entities are involved in the transaction. These special rules are discussed in Section 4.2.3. 

There are also partial exemptions that reduce the amount of information that certain Financial 

Institutions are required to report for a transaction involving a Covered Loan (i.e., an 

Application for, an origination of, or a purchase of a Covered Loan). These partial exemptions 

are discussed in Section 4.3. 

4.2.1 Applications 

For purposes of the HMDA Rule, an Application is: (a) an oral or written request (b) for a 

Covered Loan (c) that is made in accordance with procedures the Financial Institution uses for 

the type of credit requested. 12 CFR 1003.2(b)(1). 

37 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
This definition of Application is similar to the Regulation B definition, except that 

prequalification requests11 are not Applications under the HMDA Rule. Interpretations that 

appear in the official commentary to Regulation B are generally applicable to the definition of 

Application under the HMDA Rule, except for those interpretations that include a 

prequalification request within the definition of Application. Comment 2(b)-1. 

Under the HMDA Rule, a request for a preapproval may be treated differently than a request for 

a prequalification for certain types of loans. The determination of whether a request is a 

prequalification request (which is not an Application) or a preapproval request (which might be 

an Application) is based on the HMDA Rule, not on the labels that an institution uses or 

interpretations of other regulations, such as Regulation B. 

A preapproval request is an Application under the HMDA Rule if the request is: 

1.	 For a Home Purchase Loan; 

2.	 Not secured by a Multifamily Dwelling; 

3.	 Not for an Open-End Line Credit or for a Reverse Mortgage;12 and 

4.	 Reviewed under a Preapproval Program (see definition of Preapproval Program
 

immediately below). 12 CFR 1003.2(b)(2).
 

A Preapproval Program for purposes of the HMDA Rule is a program in which the Financial 

Institution: 

11 Generally, a prequalification request is a request (other than a preapproval request) by a prospective loan applicant 

for a preliminary determination of whether the prospective loan applicant would likely qualify for credit under the 

Financial Institution’s standards, or for a determination of the amount of credit for which the prospective applicant 

would likely qualify. The HMDA Rule does not require a Financial Institution to report prequalification requests, 

even though these requests may constitute “applications” under Regulation B. Comment 2(b)-2. 

12 A Reverse Mortgage is a Closed-End Mortgage Loan or an Open-End Line of Credit that is a reverse mortgage 

transaction as defined in Regulation Z, but without regard to whether the loan or line is secured by a principal 

dwelling. 12 CFR 1003.2(q). 

38 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

1.	 Conducts a comprehensive analysis of the applicant’s creditworthiness (including income 

verification), resources, and other matters typically reviewed as part of the Financial 

Institution’s normal credit evaluation program; and then 

2.	 Issues a written commitment that: (a) is for a Home Purchase Loan; (b) is valid for a 

designated period of time and up to a specified amount, and (c) is subject only to 

specifically permitted conditions. 12 CFR 1003.2(b)(2). 

The written commitment issued as part of the Preapproval Program can be subject to only the 

following types of conditions: 

1.	 Conditions that require the identification of a suitable property; 

2.	 Conditions that require that no material change occur regarding the applicant’s financial 

condition or creditworthiness prior to closing; and 

3.	 Limited conditions that (a) are not related to the applicant’s financial condition or 

creditworthiness and (b) the Financial Institution ordinarily attaches to a traditional 

home mortgage application. Examples of conditions ordinarily attached to a traditional 

home mortgage application include requiring an acceptable title insurance binder or a 

certificate indicating clear termite inspection and, if the applicant plans to use the 

proceeds from the sale of the applicant’s present home to purchase a new home, a 

settlement statement showing adequate proceeds from the sale of the present home. 

12 CFR 1003.2(b)(2); comment 2(b)-3. 

A program that a Financial Institution describes as a “preapproval program” but that does not 

satisfy the HMDA Rule definition is not a Preapproval Program for purposes of the HMDA Rule. 

Comment 2(b)-3. 

If a Financial Institution does not regularly use procedures to consider requests but instead 

considers requests on an ad hoc basis, the Financial Institution is not required to treat the ad 

hoc requests as having been reviewed under a Preapproval Program. However, a Financial 

Institution should be generally consistent in following uniform procedures for considering such 

ad hoc requests. Comment 2(b)-3. 

Under the HMDA Rule, a Financial Institution must collect, record, and report data regarding 

an Application it receives if: (1) the Application did not result in the Financial Institution 

originating a Covered Loan; and (2) the Financial Institution took action on the Application or 

the applicant withdrew the Application while the Financial Institution was reviewing it. For 

39 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

example, a Financial Institution reports information regarding an Application that it denied, 

that it approved but the applicant did not accept, or that it closed for incompleteness. 

12 CFR 1003.4(a) and 1003.5(a); comment 4(a)-1. If the Application results in the Financial 

Institution originating a Covered Loan, the Financial Institution reports the Covered Loan, not 

the Application itself. For more information on reporting Applications when multiple entities 

are involved, see Section 4.2.3. 

Although requests under Preapproval Programs are Applications, a Financial Institution reports 

data regarding a request under a Preapproval Program only if the preapproval request is denied 

or approved but not accepted. A Financial Institution will also report a request under a 

Preapproval Program that results in the Financial Institution originating a Home Purchase 

Loan, but it will be reported as an originated Covered Loan. Comment 4(a)-1.ii. 

A Financial Institution reports the data for an Application, including a reportable preapproval 

request, on the LAR for the calendar year during which it takes action even if the Financial 

Institution received the Application in a previous calendar year. Comment 4(a)-1.iv. 

4.2.2 Originations and purchases of covered loans 

A Financial Institution must collect, record, and report information regarding originations and 

purchases of Covered Loans. For more information on when a Financial Institution reports the 

origination or purchase of a Covered Loan when multiple entities are involved, see Section 4.2.3. 

A purchase includes a repurchase of a Covered Loan, regardless of whether the Financial 

Institution chose to repurchase the Covered Loan or was required to repurchase it because of a 

contractual obligation, and regardless of whether the repurchase occurred within the same 

calendar year that the Covered Loan was originated or in a different calendar year. Comment 

4(a)-5. 

A purchase does not include a temporary transfer of a Covered Loan to an interim funder or 

warehouse creditor as part of an interim funding agreement under which the Financial 

Institution that originated the Covered Loan is obligated to repurchase it for sale to a 

subsequent investor. Such funding agreements are often referred to as “repurchase agreements” 

and are sometimes used as the functional equivalents of warehouse lines of credit. Comment 

4(a)-5. 

40 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

4.2.3 Transactions involving multiple entities 

Only one Financial Institution reports the origination of a Covered Loan. If more than one 

institution is involved in the origination of a Covered Loan, the institution that makes the credit 

decision approving the Application before loan closing or account opening is responsible for 

reporting the origination of the Covered Loan. It is not relevant whether the loan closed in the 

reporting Financial Institution’s name. If more than one institution approved an Application 

prior to loan closing or account opening and one of those institutions purchased the Covered 

Loan after closing or account opening, the institution that purchased the Covered Loan after 

closing or account opening is responsible for reporting the origination of the Covered Loan. 

Comment 4(a)-2. 

If a Financial Institution reports a Covered Loan as an origination, it reports all of the 

information required to be reported for the origination of a Covered Loan, even if the Covered 

Loan was not initially payable to the Financial Institution that is reporting the Covered Loan as 

an origination. Comment 4(a)-2. When reporting a Covered Loan as an origination, a Financial 

Institution cannot rely on exceptions or exclusions that apply to purchased Covered Loans, but 

that do not apply to originations of Covered Loans. 

If a Financial Institution and other parties review the same Application and the Financial 

Institution is not responsible for reporting the origination of the resulting Covered Loan, the 

Financial Institution reports the actions that the Financial Institution took on the Application. 

For example, the Financial Institution is still required to report the Application if the Financial 

Institution denied the Application or if the Financial Institution approved the Application but 

the applicant did not accept the loan. The Financial Institution is also required to report the 

Application if the Financial Institution was reviewing the Application when it was withdrawn or 

the file was closed for incompleteness. Comment 4(a)-2.ii. 

If a Financial Institution makes a credit decision on a Covered Loan or Application through the 

actions of an agent, the Financial Institution reports the Application or Covered Loan. State law 

determines whether one party is the agent of another party. Comment 4(a)-4. 

The following examples illustrate when a Financial Institution reports certain transactions 

related to Covered Loans involving multiple entities. 

41 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

Examples: Ficus Bank receives an Application for a Covered Loan from an applicant and 

forwards that Application to Pine Bank, which reviews and approves the Application prior 

to closing. The loan closes in Ficus Bank’s name. Pine Bank purchases the loan from 

Ficus Bank after closing. Pine Bank is not acting as Ficus Bank’s agent when it reviews 

and approves the Application. Because Pine Bank made the credit decision prior to 

closing, Pine Bank reports the transaction as an originated Covered Loan, not as a 

purchased Covered Loan. Ficus Bank does not report the transaction. 

Ficus Mortgage Company receives an Application for a Covered Loan from an applicant 

and forwards that Application to Pine Bank, which reviews and denies the Application 

before the loan would have closed. Pine Bank is not acting as Ficus Mortgage Company’s 

agent when it reviews and denies the Application. Because Pine Bank makes the credit 

decision, Pine Bank reports the Application as denied. Ficus Mortgage Company does not 

report the Application. If, under the same facts, the Application is withdrawn before Pine 

Bank makes a credit decision, Pine Bank reports the Application as withdrawn, and Ficus 

Mortgage Company does not report the Application. 

Ficus Bank receives an Application for a Covered Loan from an applicant and approves the 

Application. Ficus Bank closes the loan in its name. Ficus Bank is not acting as Pine 

Bank’s agent when it approves the Application or closes the loan. Pine Bank does not 

review the Application before closing. Pine Bank purchases the Covered Loan from Ficus 

Bank. Ficus Bank reports the loan as an originated Covered Loan. Pine Bank reports the 

loan as a purchased Covered Loan. 

Pine Bank reviews an Application and makes a credit decision to approve a Covered Loan 

using the underwriting criteria provided by Ficus Mortgage Company. Pine Bank is not 

acting as Ficus Mortgage Company’s agent, and no one acting on behalf of Ficus Mortgage 

Company reviews the Application or makes a credit decision prior to closing. Pine Bank 

reports the Application or, if the Application results in a Covered Loan, it reports the loan 

as an originated Covered Loan. If the Application results in a Covered Loan and Ficus 

Mortgage Company purchases it after closing, Ficus Mortgage Company reports the loan 

as a purchased Covered Loan. 

42 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
Examples (cont’d): Ficus Bank receives an Application for a Covered Loan and 

forwards it to Aspen Bank and Pine Bank. Ficus Bank makes a credit decision, acting as 

Elm Bank’s agent, and approves the Application. Pine Bank makes a credit decision and 

denies the Application. Aspen Bank makes a credit decision approving the Application. 

The applicant does not accept the loan from Elm Bank. The applicant accepts the loan 

from Aspen Bank and credit is extended. Aspen Bank reports the loan as an originated 

Covered Loan. Pine Bank reports the Application as denied. Elm Bank reports the 

Application as approved but not accepted. Ficus Bank does not report the Application. 

4.3 Partial exemptions 

The 2018 Act created partial exemptions from 

some of the HMDA Rule’s requirements. Only 

certain Financial Institutions are eligible for 

these partial exemptions, and only certain 

Covered Loans and Applications are covered 

under each of the two partial exemptions. If a 

Covered Loan or Application is covered by a 

partial exemption, the Financial Institution is 

not required to collect, record, and report 

specific data points. The partial exemptions 

were effective May 24, 2018, and apply to the 

collection, recording, and reporting of HMDA 

data on or after that date. 

As discussed in Section 4.3.1, only a Financial 

Institution that is an insured credit union or an 

insured depository institution is eligible for the 

partial exemptions. Additionally, as discussed 

in Section 4.3.1., an insured depository institution must not have a less than satisfactory 

examination history under the Community Reinvestment Act (CRA) to be eligible for the partial 

exemptions. 

Because the partial exemptions were not 

effective at the beginning of 2018, it is 

possible that a Financial Institution may 

have collected and recorded information that 

it was not required to report with its 2018 

HMDA data. If a Financial Institution that is 

eligible for a partial exemption collected and 

recorded data points that it is not required to 

report due to a partial exemption, the 

institution may choose to report all, some, or 

none of those data points for a Covered Loan 

or Application covered by a partial 

exemption. If the institution opts to 

voluntarily report a data point for a 

transaction covered by a partial exemption, it 

must report all data fields that are part of 

that data point. 

43 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

As discussed in Section 4.3.2, each of the partial exemptions applies only to certain Covered 

Loans and Applications and only if an applicable loan-volume threshold is met. An insured 

depository institution or insured credit union must meet the applicable loan-volume threshold 

for Closed-End Mortgage Loans in order for a partial exemption to apply to its Closed-End 

Mortgage Loan transactions, and the applicable loan-volume threshold for Open-End Lines of 

Credit in order for a partial exemption to apply to its Open-End Line of Credit transactions. 

The 2018 Act created partial exemptions, not complete exclusions. Therefore, if a Covered Loan 

or Application is covered by a partial exemption, the Financial Institution is required to collect, 

record, and report 22 data points, but is exempt from collecting, recording, and reporting 26 

data points for that transaction. Additionally, the Financial Institution may voluntarily report 

any or all of these 26 data points for a Covered Loan or Application covered by a partial 

exemption. Section 4.3.3 discusses the scope of the partial exemptions and includes tables that 

list the data points that are and are not required to be collected, recorded, and reported if a 

partial exemption applies to a Covered Loan or Application. 

4.3.1 Eligible Financial Institutions 

In order to be eligible for a partial exemption, a Financial Institution must be an: 

1. “Insured credit union” as defined in Section 101 of the Federal Credit Union Act, 12 

U.S.C. 1752; or 

2. “Insured depository institution” as defined in Section 3 of the Federal Deposit Insurance 

Act, 12 U.S.C. 1813. 12 C.F.R. 1003.3(d)(1)(i) and (ii). 

Additionally, a Financial Institution that satisfies the definition of “insured depository 

institution” must not have a negative CRA examination history in order to be eligible for a 

partial exemption. More specifically, an insured depository institution must not have received 

either of the following: 

1.	 A rating of “need to improve record of meeting community credit needs” during each of 

its two most recent examinations under Section 807(b)(2) of the CRA; or 

2. A rating of “substantial noncompliance in meeting community credit needs” on its most 

recent examination under Section 807(b)(2) of the CRA. 

44 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

The CRA ratings used to determine if an insured depository institution is eligible for a partial 

exemption are the institution’s two most recent ratings as of December 31 of the preceding year. 

A Financial Institution that does not satisfy either the definition of an “insured credit union” or 

an “insured depository institution” may not rely on either of the partial exemptions, even if it 

satisfies the loan-volume thresholds discussed in Section 4.3.2. Similarly, an insured depository 

institution that does not satisfy the criteria regarding CRA examination history cannot rely on 

either of the partial exemptions. 

4.3.2 Loan-volume thresholds 

In order for a partial exemption to apply to an Application or Covered Loan (including a 

purchased Covered Loan), an eligible Financial Institution (i.e., an insured depository 

institution that does not have a negative 

CRA examination history or an insured 

credit union) must also meet the applicable 

loan-volume threshold. 

A partial exemption applies to an eligible 

Financial Institution’s Applications for, 

originations of, and purchases of ClosedEnd Mortgage Loans if the institution 

originated fewer than 500 Closed-End 

Mortgage Loans in each of the two 

preceding calendar years. 

A partial exemption applies to an eligible 

Financial Institution’s Applications for, 

originations of, and purchases of Open-End Lines of Credit if the institution originated fewer 

than 500 Open-End Lines of Credit in each of the two preceding calendar years. However, 

during 2018, 2019, 2020, and 2021, a Financial Institution is not required to collect or report 

any information for Open-End Lines of Credit if the institution originated fewer than 500 OpenEnd Lines of Credit during either of the two preceding calendar years. This is because, during 

2018, 2019, 2020, and 2021, Open-End Lines of Credit are Excluded Transactions for a 

Financial Institution that originated fewer than 500 of them during either of the two preceding 

calendar years. See the discussion regarding Excluded Transactions in Section 4.1.2. 

When a Financial Institution determines 

whether it meets the loan-volume thresholds, 

it does not count transactions excluded by 

12 CFR 1003.3(c)(1) through (10) and 

(13). 12 CFR 1003.2(g)(2)(ii). These 

Excluded Transactions are discussed in 

Section 4.1.2 in paragraphs 1 through 10 and 

paragraph 13. When determining if it meets 

either of the loan-volume thresholds, a 

Financial Institution only counts Closed-End 

Mortgage Loans or Open-End Lines of 

Credit, as applicable, that it originated. 

45 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

The partial exemption for Closed-End Mortgage Loans and the partial exemption for Open-End 

Lines of Credit operate independently of one another. Thus, in a given calendar year, an eligible 

Financial Institution may be able to rely on one partial exemption but not the other. 

Example: Ficus Bank is an insured depository institution as defined in Section 3 of the 

Federal Deposit Insurance Act, and it received satisfactory ratings in its two most recent 

CRA examinations as of December 31, 2017. In 2016, Ficus Bank originated 400 ClosedEnd Mortgage Loans and 510 Open-End Lines of Credit. In 2017, Ficus Bank originated 

490 Closed-End Mortgage Loans and 515 Open-End Lines of Credit. In 2018, a partial 

exemption applies to Ficus Bank’s Closed-End Mortgage Loan transactions, but a partial 

exemption does not apply to Ficus Bank’s Open-End Line of Credit transactions. 

Additionally, because Ficus Bank originated at least 500 Open-End Lines of Credit in 

both 2016 and 2017, Ficus Bank cannot exclude Open-End Lines of Credit from its 

reportable transactions in 2018 (i.e., they are not Excluded Transactions as discussed in 

Section 4.1.2). 

4.3.3 Collecting, recording, and reporting for transactions 

covered by a partial exemption 

If a partial exemption applies to a Covered Loan or Application (as discussed above), the HMDA 

Rule does not require the Financial Institution to collect, record, and report some of the data 

points that the HMDA Rule would otherwise require the institution to collect, record, and report 

for that transaction. More specifically, if a partial exemption applies to a Covered Loan or 

Application, a Financial Institution is not required under the HMDA Rule to collect, record, or 

report the 26 data points listed in the table immediately below. 

46 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
Data Points Eligible Financial Institutions Need Not Collect or Report under the HMDA 

Rule For Transactions Covered by a Partial Exemption 

• Universal Loan Identifier (ULI) (1003.4(a)(1)(i))13 

• Application Channel (1003.4(a)(33)) 

• Loan Term (1003.4(a)(25)) 

• Reasons for Denial (1003.4(a)(16))14 

• Property Address (1003.4(a)(9)(i)) 

• Manufactured Home Secured Property Type (1003.4(a)(29)) 

• Manufactured Home Land Property Interest (1003.4(a)(30)) 

• Property Value (1003.4(a)(28)) 

• Multifamily Affordable Units (1003.4(a)(32)) 

• Debt-to-Income Ratio (1003.4(a)(23)) 

• Combined Loan-to-Value Ratio (1003.4(a)(24)) 

• Credit Score (1003.4(a)(15)) 

• Automated Underwriting System (1003.4(a)(35)) 

• Interest Rate (1003.4(a)(21)) 

• Introductory Rate Period (1003.4(a)(26)) 

• Rate Spread (1003.4(a)(12)) 

• Non-Amortizing Features (1003.4(a)(27)) 

• Total Loan Costs or Total Points and Fees (1003.4(a)(17)) 

• Origination Charges (1003.4(a)(18)) 

• Discount Points (1003.4(a)(19)) 

• Lender Credits (1003.4(a)(20)) 

• Prepayment Penalty Term (1003.4(a)(22)) 

• Reverse Mortgage Flag (1003.4(a)(36)) 

• Open-End Line of Credit Flag (1003.4(a)(37)) 

• Business or Commercial Purpose Flag (1003.4(a)(38)) 

• Mortgage Loan Originator Identifier (1003.4(a)(34)) 

13 If the Financial Institution chooses not to report a ULI for a Covered Loan or Application covered by a partial 

exemption, it must report a non-universal loan identifier as discussed in Section 5.2. 

14 Certain Financial Institutions supervised by the OCC and the FDIC are required by those agencies to report reasons 

for denial on their HMDA loan/application registers, even if a partial exemption applies. 12 CFR 27.3(a)(1)(i), 128.6, 

390.147. 

47 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

A Financial Institution may opt to collect, 

record, and report one or more of these 

26 data points for a Covered Loan or 

Application that is covered by a partial 

exemption. 

Seven of these 26 data points (i.e., 

property address, credit score, reasons 

for denial, total loan costs or total points 

and fees, non-amortizing features, 

application channel, and automated 

underwriting system) have multiple data 

fields. If a Financial Institution opts to 

report a data point with multiple fields, it 

must report all of the data fields that make up that data point. 

Property address is one of the data points 

that a Financial Institution is not required to 

report if a partial exemption applies to a 

transaction. If a partial exemption applies 

to a Covered Loan or Application, an 

institution may report state for the 

transaction without reporting the other data 

fields that make up the property address 

data point (i.e., street address, city, and zip 

code). Comment 3(d)(4)(i)-1. 

Example: Ficus Bank originates a Covered Loan. A partial exemption applies to the 

Covered Loan, but Ficus Bank opts to report that the Covered Loan does not have a 

balloon payment. Balloon payment is one of the data fields for the non-amortizing 

features data point. The other data fields that make up the non-amortizing features data 

point are interest-only payments, negative amortization, and other non-amortizing 

features. Because Ficus Bank chose to report the balloon payment data field, Ficus Bank 

must also report whether the Covered Loan has interest-only payments, negative 

amortization, and other non-amortizing features. 

If a Financial Institution opts not to report a Universal Loan Identifier (ULI) for a Covered Loan 

or Application that is covered by a partial exemption, the institution must provide a nonuniversal loan identifier as discussed in Section 5.2. 

If a Financial Institution opts not to report one of the 26 data points other than the ULI, the 

Financial Institution generally reports that the Covered Loan or Application is exempt from that 

data point. However, if a data point is not applicable to the particular transaction and the 

transaction is exempt from that data point, the Financial Institution may choose to report either 

that the data point is not applicable or that the transaction is exempt from the data point. 

48 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Example: Ficus Bank originates a Covered Loan. The sole applicant for the Covered 

Loan is not a natural person. Because the applicant is not a natural person, Ficus Bank 

would report the debt-to-income ratio data point as not applicable, unless a partial 

exemption applies to the Covered Loan. If a partial exemption applies to the Covered 

Loan, Ficus Bank could report either “not applicable” or “exempt” for the debt-to-income 

ratio data point. 

If a Covered Loan or Application is covered by a partial exemption, a Financial Institution must 

collect, record, and report 22 data points for the Covered Loan or Application. These 22 data 

points are set forth in the following table. 

• Ethnicity (1003.4(a)(10)(i)) 

• Race (1003.4(a)(10)(i)) 

• Sex (1003.4(a)(10)(i)) 

• Age (1003.4(a)(10)(ii)) 

• Income (1003.4(a)(10)(iii)) 

• Legal Entity Identifier (LEI) (1003.5(a)(3)) 

• Application Date (1003.4(a)(1)(ii) 

• Preapproval (1003.4(a)(4)) 

• Loan Type (1003.4(a)(2)) 

• Loan Purpose (1003.4(a)(3)) 

• Loan Amount (1003.4(a)(7)) 

• Action Taken (1003.4(a)(8)(i)) 

• Action Taken Date (1003.4(a)(8)(ii)) 

• State (1003.4(a)(9)(ii)(A)) 

• County (1003.4(a)(9)(ii)(B)) 

• Census Tract (1003.4(a)(9)(ii)(C)) 

• Construction Method (1003.4(a)(5)) 

• Occupancy Type (1003.4(a)(6) 

• Lien Status (1003.4(a)(14)) 

• Number of Units (1003.4(a)(31)) 

• HOEPA Status (1003.4(a)(13)) 

• Type of Purchaser (1003.4(a)(11)) 

49 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 

Data Points That Must be Collected and Reported under the HMDA Rule for Covered 

Loans and Applications Covered by a Partial Exemption 
Because the partial exemptions do not affect these 22 data points, Financial Institutions must 

continue to collect and report these 22 data points for Covered Loans and Applications in the 

manner specified in the 2015 HMDA Rule, as amended and clarified by the 2017 HMDA Rule. 

As discussed above, during 2018,2019, 2020, and 2021, a Financial Institution is not required to 

collect or report any information for Open-End Lines of Credit if the institution originated fewer 

than 500 of them during either of the two preceding calendar years. See the discussion 

regarding Excluded Transactions in Section 4.1.2. 

For more information on reporting data points if a Covered Loan or Application is covered by a 

partial exemption, see Section 5 of this guide and the Filing Instructions Guide that incorporates 

the 2018 HMDA Rule available at http://www.consumerfinance.gov/data-research/hmda/forfilers. 

50 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
5. Reportable data 

The HMDA Rule changes the data that must be collected, recorded, and reported for Covered 

Loans and Applications. Effective January 1, 2018, it modifies some existing data points and 

adds new data points. 12 CFR 1003.4. Effective May 24, 2018, a Financial Institution is not 

required to collect, record, or report some of the data points under the HMDA Rule for Covered 

Loans and Applications covered by a partial exemption. The partial exemptions, including the 

data points that need not be collected, recorded, or reported for a Covered Loan or Application 

covered by a partial exemption, are discussed in Section 4.3. 

Unless a partial exemption applies, a Financial Institution collects, records, and reports the new 

and modified data points under the HMDA Rule for Applications and Covered Loans on which 

final action is taken on or after January 1, 2018. A Financial Institution collects, records, and 

reports the new and modified data points, to the extent that they apply to purchased loans, for 

purchases of Covered Loans that occur on or after January 1, 2018. 

If a partial exemption applies to a Covered Loan or Application, the Financial Institution is not 

required to collect, record, or report 26 data points for that transaction as described in Section 

4.3.3. It must collect, record, and report the remaining 22 data points as required under the 

HMDA Rule and as discussed in Section 4.3.3. 

This section describes the HMDA Rule’s reportable data points and provides guidance on how to 

report them. For more information on reporting Covered Loans and Applications covered by a 

partial exemption, see Section 4.3.3. Additional instructions for reporting data points are 

available in the Filing Instructions Guides at http://www.consumerfinance.gov/dataresearch/hmda/for-filers. 

51 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

5.1 Applicant information 

A Financial Institution must report information about ethnicity, race, and sex for applicants who 

are natural persons. Appendix B to Regulation C provides instructions on how to collect 

ethnicity, race, and sex information. The HMDA Rule modifies the requirements for collecting 

and reporting an applicant’s ethnicity, race, and sex and requires that the applicant’s age be 

collected and reported. Financial Institutions will continue to collect and report income. 

The HMDA Rule amends the instructions in appendix B and provides a new sample data 

collection form. 

5.1.1 Collection 

The instructions in appendix B to the HMDA Rule require a Financial Institution: 

1.	 To ask an applicant for ethnicity, race, and sex information regardless of whether the 

Application is taken in person, by mail, by telephone, or on the internet. A Financial 

Institution cannot require the applicant to provide this information. 

When a Financial Institution requests ethnicity and race information from an applicant 

under the HMDA Rule, it must offer the applicant the option of selecting more than one 

ethnicity and race and must permit the applicant to self-identify using aggregate categories 

and disaggregated subcategories. When a Financial Institution requests the applicant’s 

ethnicity and race, the aggregate categories must be broken down into disaggregated 

subcategories. For example, the aggregate category of Hispanic or Latino must be broken 

down into the subcategories of Mexican, Puerto Rican, Cuban, or Other Hispanic or Latino. 

Similarly, the Asian and Native Hawaiian or Other Pacific Islander categories also must be 

broken down into their respective disaggregated subcategories. 

An applicant must be permitted to select one or more race or ethnicity subcategories even if 

the applicant has not selected a race or ethnicity aggregate category. For example, an 

applicant could select Mexican even if the applicant has not selected Hispanic or Latino. 

The applicant must also be permitted to provide certain additional information. For 

example, an applicant must be permitted to provide a particular Hispanic or Latino ethnicity 

that is not provided on the collection form. An applicant must be permitted to provide this 

information even if the applicant has not selected the Other Hispanic or Latino category. 

Similarly, the applicant must be permitted to provide a particular Asian race or a particular 

Pacific Islander race that is not provided on the collection form. An applicant must be 

52 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

permitted to provide this information even if the applicant has not selected the Other Asian 

or Other Pacific Islander category. An applicant must also be permitted to provide a 

particular American Indian or Alaska Native enrolled or principal tribe even if the applicant 

has not selected the American Indian or Alaska Native race category. Appendix B to 

Part 1003. 

For an illustration of the information that a Financial Institution must ask about an 

applicant’s ethnicity, race, and sex, see the sample data collection form in Attachment A. 

2.	 To inform the applicant that: (a) Federal law requires the information be collected in order 

to protect consumers and to monitor compliance with Federal statutes that prohibit 

discrimination against applicants; and (b) if the information is not provided where the 

Application is taken in person, the Financial Institution is required to note the information 

on the basis of visual observation or surname. 

3.	 To collect the applicant’s ethnicity, race, and sex based on visual observation or surname if 

the applicant chooses not to provide the information for an Application that is taken in 

person. Appendix B to Part 1003. 

For an Application taken in person, there are special requirements if the applicant declines 

to provide the information regarding ethnicity, race, and sex. The Financial Institution must 

note that the applicant did not provide the information and then collect the applicant’s 

ethnicity, race, and sex on the basis of visual observation or surname. When a Financial 

Institution collects an applicant’s ethnicity, race, and sex on the basis of visual observation 

or surname, the Financial Institution must select from the following aggregate categories: 

ethnicity (Hispanic or Latino; not Hispanic or Latino); race (American Indian or Alaska 

Native; Asian; Black or African American; Native Hawaiian or Other Pacific Islander; 

White); sex (male; female). The Financial Institution does not use the disaggregated 

categories. Only an applicant may self-identify as being of a particular ethnic or racial 

subcategory. 

If a Financial Institution accepts an Application through electronic media with a video 

component, it must treat the Application as taken in person. However, if a Financial 

Institution accepts an Application through electronic media without a video component, it 

must treat the Application as accepted by mail. Appendix B to Part 1003. 

If the applicant (1) begins an Application by mail, internet, or telephone, (2) does not 

provide the requested information, (3) does not select “I do not wish to provide this 

information,” and (4) meets with the Financial Institution in person to complete the 

Application, the Financial Institution must request the applicant’s ethnicity, race, and sex 

53 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

when the Financial Institution meets with the applicant in person. If the applicant does not 

provide the requested information during the in-person meeting, the Financial Institution 

must collect the information on the basis of visual observation or surname. If the meeting 

occurs after the Application process is complete (e.g., at loan closing or account opening), 

the Financial Institution is not required to obtain the applicant’s ethnicity, race, and sex. 

Appendix B to Part 1003. 

A Financial Institution may collect the required information regarding the ethnicity, race, and 

sex of an applicant on an Application form, or on a separate form that refers to the Application 

(sometimes called a collection form). For Applications taken by telephone, a Financial 

Institution must state the information in the collection form orally. Appendix B to Part 1003. 

Because the HMDA Rule changes the information that must be included on an Application form 

or other collection form, Financial Institutions must revise their forms. A Financial Institution 

must use a revised collection or Application form that includes the disaggregated categories for 

Applications received on or after January 1, 2018. For more information on collecting the 

applicant’s ethnicity, race, and sex, see appendix B to the HMDA Rule. 

5.1.2 Reporting 

A Financial Institution reports the following information about an applicant: 

1.	 Ethnicity, race, and sex. A Financial Institution must report the applicant’s ethnicity, 

race, and sex. It must also report whether or not it collected this information on the basis of 

visual observation or surname. 12 CFR 1003.4(a)(10)(i). 

If an applicant provided the requested information, a Financial Institution must report the 

ethnicity, race, and sex information that the applicant provided. If an applicant selected 

more than one ethnicity or race, a Financial Institution must report each designation the 

applicant selected, subject to the limits in appendix B, which are described below. 

For ethnicity, a Financial Institution must report every aggregate ethnicity category that the 

applicant selected. If the applicant also selected one or more ethnicity subcategories, the 

Financial Institution must report each ethnicity subcategory that the applicant selected, up 

to a combined total of five aggregate ethnicity categories and ethnicity subcategories. 

Appendix B to Part 1003. 

54 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
For race, a Financial Institution must report every aggregate race category the applicant 

selected. If the applicant also selected one or more race subcategories, a Financial 

Institution must report each race subcategory the applicant selected, up to a combined total 

of five aggregate race categories and race subcategories. Appendix B to Part 1003. 

Examples: An applicant selects all five aggregate race categories (i.e., American 

Indian or Alaska Native, Asian, Black or African American, Native Hawaiian or Other 

Pacific Islander, and White) and also selects the Chinese race subcategory. Because a 

Financial Institution must report all of the aggregate race categories that an applicant 

selects and can only report a combined total of up to five aggregate race categories and 

race subcategories, Ficus Bank reports only the five aggregate race categories. It does 

not report the Chinese race subcategory. 

An applicant selects the White, Asian, and Native Hawaiian or Other Pacific Islander 

aggregate race categories, and the Korean, Vietnamese, and Samoan race subcategories. 

The Financial Institution must report the White, Asian, and Native Hawaiian or Other 

Pacific Islander aggregate race categories. The Financial Institution also reports two of 

the three race subcategories. The Financial Institution chooses which two race 

subcategories to report (i.e., Korean and Vietnamese, Korean and Samoan, or 

Vietnamese and Samoan). 

An applicant may select the Other Hispanic or Latino ethnicity subcategory, an applicant 

may provide a particular Hispanic or Latino ethnicity not listed in the standard 

subcategories, or an applicant may do both. If an applicant provides only a particular 

ethnicity not listed in the standard subcategories, a Financial Institution is permitted, but 

not required, to report both the selection of Other Hispanic or Latino in addition to the 

particular ethnicity that the applicant provided. If an applicant selects Other Hispanic or 

Latino and provides a particular ethnicity, the Financial Institution reports both Other 

Hispanic or Latino and the particular ethnicity the applicant provided, (subject to the five 

ethnicity maximum described above). For purposes of the maximum of five reportable 

ethnicity categories and subcategories, the Other Hispanic or Latino subcategory and any 

additional information provided by the applicant together constitute only one selection. 

Appendix B to Part 1003. 

55 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

An applicant may select the Other Asian race subcategory or Other Pacific Islander race 

subcategory, an applicant may provide a particular race not listed in the standard 

subcategories, or an applicant may do both. If an applicant provides only a particular race 

not listed in the standard subcategories, a Financial Institution is permitted, but not 

required, to report both the selection of Other Asian or Other Pacific Islander, as applicable, 

in addition to the particular race that the applicant provided. If an applicant selects Other 

Asian or Other Pacific Islander and provides a particular race, the Financial Institution 

reports both Other Asian or Other Pacific Islander, as applicable, and the additional 

information the applicant provided, subject to the maximum of five. For purposes of the 

maximum of five reportable race categories and race subcategories, the Other Asian race or 

Other Pacific Islander race subcategory and additional information provided by the 

applicant together constitute only one selection. Appendix B to Part 1003. 

Examples: An applicant selects the category of Hispanic or Latino and provides 

Dominican as an ethnicity not listed in the standard subcategories. The applicant does 

not select the Other Hispanic or Latino subcategory or any other ethnicity categories or 

subcategories. The Financial Institution reports the Hispanic or Latino category and 

Dominican. It may also report the Other Hispanic or Latino subcategory, but is not 

required to do so. 

An applicant selects the White, Asian, and Native Hawaiian or Other Pacific Islander 

aggregate race categories, as well as the Korean, Vietnamese, Samoan, and Other Asian 

race subcategories and writes in “Thai” in the space provided on the Application form. 

The Financial Institution reports two (at its option) of the four race subcategories selected 

by the applicant (i.e., Korean, Vietnamese, Other Asian-Thai, Samoan) in addition to the 

three aggregate race categories selected by the applicant. 

If an applicant selected “I do not wish to provide this information” on a collection or 

Application form taken by mail or on the internet or stated that he or she did not wish to 

provide the information for an Application that is taken by telephone, the Financial 

56 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

Institution reports that the information was not provided in a mail, internet, or telephone 

application. 

If an applicant provided some but not all of the requested information, a Financial 

Institution reports the information provided by the applicant, whether partial or complete. 

If an applicant provided complete or partial information but also selected that he or she did 

not wish to provide the information for an Application that is taken by mail, internet, or 

telephone, a Financial Institution reports the ethnicity, race, and sex information that the 

applicant provided. Appendix B to Part 1003. 

If there are multiple applicants (i.e., an applicant and one or more co-applicants), the 

Financial Institution reports the ethnicity, race, and sex information for the applicant and 

the first co-applicant listed on the collection or Application form. If an applicant did not 

provide the information for an absent co-applicant, the Financial Institution reports that the 

information was not provided by applicant in mail, internet, or telephone Application for the 

absent co-applicant. If there is only one applicant, a Financial Institution reports that there 

is no co-applicant. Appendix B to Part 1003. 

If a Covered Loan or Application includes a guarantor, a Financial Institution does not 

report the guarantor’s ethnicity, race, and sex. Appendix B to Part 1003. 

A Financial Institution may, but is not required to, report an applicant’s ethnicity, race, and 

sex for purchased Covered Loans. If a Financial Institution chooses not to report the 

applicant’s ethnicity, race, and sex for a purchased Covered Loan, the Financial Institution 

reports that the data points are not applicable. Appendix B to Part 1003. 

If an applicant is not a natural person (e.g., a corporation, partnership, or trust), a Financial 

Institution reports that the requirement to report ethnicity, race, and sex information is not 

applicable. However, if an applicant is a natural person and a beneficiary of a trust (for 

example, the natural person might be relying on income from or collateral owned by a trust), 

the Financial Institution reports the applicant’s ethnicity, race, and sex information. 

Appendix B to Part 1003. 

For more information on reporting an applicant’s ethnicity, race, and sex, see appendix B to 

the HMDA Rule. 

57 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

2.	 Age. A Financial Institution reports the applicant’s age (as of the Application date) as the 

number of whole years derived from the date of birth shown on the Application form. 

12 CFR 1003.4(a)(10)(ii); comment 4(a)(10)(ii)-1. 

Example: An applicant provides a date of birth of 01/15/1970 on the Application form 

that Ficus Bank receives on 01/14/2018. Ficus Bank reports 47 as the applicant’s age. 

If there are multiple applicants, the Financial Institution reports the age for the applicant 

and the first co-applicant listed on the Application form. If a Covered Loan or Application 

includes a guarantor, a Financial Institution does not report the guarantor’s age. Comments 

4(a)(10)(ii)-2 and -5. 

A Financial Institution may, but is not required to, report the age of an applicant for 

purchased Covered Loans. If a Financial Institution chooses not to report the applicant’s age 

for a purchased Covered Loan, the Financial Institution reports that the data point is not 

applicable. 12 CFR 1003.4(b)(2); comment 4(a)(10)(ii)-3. 

If an applicant is not a natural person (e.g., a corporation, partnership, or trust), a financial 

institution reports that the data point is not applicable. Comment 4(a)(10)(ii)-4. However, 

if an applicant is a natural person and a beneficiary of a trust (for example, the natural 

person might be relying on income from or collateral owned by a trust), the Financial 

Institution reports the applicant’s age. 

3.	 Income. If a Financial Institution considers income in making its credit decision, it reports 

the gross annual income that it relied on in making the credit decision. 

12 CFR 1003.4(a)(10)(iii). For Applications that are withdrawn or closed for incompleteness 

before the Financial Institution makes a credit decision that would have taken income into 

consideration, the Financial Institution reports the income information relied on in 

processing the Application at the time that the Application was withdrawn or the file was 

closed for incompleteness. 12 CFR 1003.4(a)(10)(iii); comment 4(a)(10)(iii)-5. 

If a Financial Institution relies on only a portion of an applicant’s income in its 

determination, it reports only the portion of income relied on. Comment 4(a)(10)(iii)-1. If a 

Financial Institution relies on the income of a co-applicant or cosigner to evaluate 

creditworthiness, the Financial Institution includes the co-applicant’s or cosigner’s income 

58 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

to the extent relied upon. Comments (a)(10)(iii)-1 and -2. A Financial Institution, however, 

does not include the income of a guarantor who is only secondarily liable. Comment 

4(a)(10)(iii)-1. 

Reportable income does not include funds or amounts in addition to income, such as funds 

derived from underwriting calculations of the potential annuitization or depletion of an 

applicant’s remaining assets, even if the Financial Institution relied on them when making 

the credit decision. Actual distributions from retirement accounts or other assets that are 

relied on by the Financial Institution as income are reported as income. Comment 

4(a)(10)(iii)-4. 

A Financial Institution may, but is not required to, report an applicant’s income for 

purchased Covered Loans. A Financial Institution reports that the data point is not 

applicable if it chooses not to report the applicant’s income. Comment 4(a)(10)(iii)-9. 

A Financial Institution reports that the income data point is not applicable: 

a.	 For a Covered Loan to or an Application from a Financial Institution’s own employee, 

even though the Financial Institution relied on the employee’s income in making its 

credit decision; 

b. For a Covered Loan that is secured by or an Application that was proposed to be secured 

by a Multifamily Dwelling; 

c.	 If the applicant or co-applicant, if applicable, is not a natural person (e.g., a corporation, 

partnership, or trust); or 

d. If the Financial Institution did not consider or would not have considered income in 

making the credit decision. 12 CFR 1003.4(a)(10)(iii); comments 4(a)(10)(iii)-3, -6, -7, 

and -8. 

5.2 Universal loan identifier (ULI) or nonuniversal loan identifier 

Unless a partial exemption applies, a Financial Institution must report a ULI for a Covered Loan 

or Application. The ULI: 

59 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

1.	 Is a number that a Financial Institution assigns to the Covered Loan or Application. 

12 CFR 1003.4(a)(1)(i). 

2.	 Must begin with the Financial Institution’s Legal Entity Identifier (LEI),15 followed by up 

to 23 additional letters and/or numbers that the Financial Institution assigns, and end 

with a two-character check digit.16 12 CFR 1003.4(a)(1)(i)(A)-(C). Essentially, the ULI is 

the Financial Institution’s LEI plus a loan or application number plus the two-character 

check digit (in that order). 

3.	 Cannot include information that could be used to identify the applicant or borrower 

directly, such as the applicant’s or borrower’s name, date of birth, Social Security 

number, official government-issued driver’s license or identification number, alien 

registration number, government passport number, or employer or taxpayer 

identification number. Comment 4(a)(1)(i)-2. 

4.	 Must be unique within the Financial Institution and must be used for only one Covered 

Loan or Application. Comment 4(a)(1)(i)-1. 

To ensure that a ULI is unique within a Financial Institution, the Financial Institution must: 

1.	 Ensure that its branches do not use the same ULI to refer to multiple Covered Loans or 

Applications. 

2.	 Assign a new ULI to a Refinancing or Application for Refinancing (i.e., not use the ULI 

from the loan that is being refinanced). 

15 The LEI is a unique, 20-digit alphanumeric identifier issued by a utility endorsed by the LEI Regulatory Oversight 

Committee or endorsed or otherwise governed by the Global LEI Foundation or a successor organization. A 

Financial Institution can go to the Global LEI Foundation website, https://www.gleif.org/services/louservices/issue-new-lei, to obtain an LEI. Regardless of whether a Financial Institution’s transactions are covered by 

a partial exemption, effective January 1, 2019, the institution must include an LEI with its submission as described 

in 12 CFR 1003.5(a)(3). See Section 6.2 for more information. 

16 The two-character check digit is used to validate the ULI. It is calculated using certain standards published by the 

International Organization for Standardization (www.iso.org). A check digit tool is available on the Bureau’s 

website. For more information on the two-character check digit, including the methodology for generating a check 

digit, see appendix C to the HMDA Rule. 

60 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
A Financial Institution may use a previously reported ULI if an applicant asks the Financial 

Institution: (a) to reinstate a counteroffer that the applicant did not accept earlier in the same 

calendar year; or (b) to reconsider an Application that was denied, withdrawn, or closed for 

incompleteness earlier during the same calendar year. However, a Financial Institution must 

not use a previously reported ULI if it reinstates or reconsiders an Application that was reported 

in a prior calendar year. 12 CFR 1003.4(a)(1)(i)(E); comment 4(a)(1)(i)-4. 

For a purchased Covered Loan, a Financial Institution uses the ULI that was assigned to the 

Covered Loan by the Financial Institution that previously reported the Covered Loan. 12 CFR 

1003.4(a)(1)(i)(D). If the Financial Institution that originated the Covered Loan did not assign a 

ULI, the Financial Institution that purchases the Covered Loan must assign a ULI, unless a 

partial exemption applies with respect to the purchase of the Covered Loan. 

If a partial exemption applies to a Covered 

Loan or Application, a Financial Institution 

may either report a ULI for the transaction, 

as discussed above, or report a nonuniversal loan identifier for the transaction, 

as discussed below. 

A non-universal loan identifier: 

If a Financial Institution that is not eligible 

for a partial exemption purchases a Covered 

Loan for which an insured depository 

institution or insured credit union has 

assigned a non-universal loan identifier, the 

purchasing Financial Institution does not 

report that non-universal loan identifier. 

Instead, the purchasing Financial Institution 

assigns its own ULI. 

1.	 Is assigned by a Financial Institution 

to a Covered Loan or Application that is covered by a partial exemption. 

2.	 Is composed of up to 22 characters (i.e., letters, numerals, or a combination of letters and 

numerals). A non-universal loan identifier may, but is not required to, include a check 

digit. However, the non-universal loan identifier cannot be more than 22 characters, 

including any check digit. 

3.	 Cannot include information that could be used to identify the applicant or borrower 

directly, such as the applicant’s or borrower’s name, date of birth, Social Security 

number, official government-issued driver’s license or identification number, alien 

registration number, government passport number, or employer or taxpayer 

identification number. 

4.	 Must be unique within the annual loan/application register in which the Covered Loan or 

Application is included. 

61 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
To ensure that a non-universal loan identifier is unique within a Financial Institution, the 

Financial Institution must: 

1.	 Ensure that its branches do not use the same non-universal loan identifier to refer to 

multiple Covered Loans or Applications. 

2.	 Assign only one non-universal loan identifier to any particular Covered Loan or 

Application. Each non-universal loan identifier must correspond to a single Application 

and ensuing Covered Loan, if any. 

3.	 Assign a new non-universal loan identifier to a Refinancing or Application for 

Refinancing (i.e., not use the non-universal loan identifier or ULI from the loan that is 

being refinanced). 12 CFR 1003.3(d)(5); comments 3(d)(5)-1, -2. 

5.3 Application date 

Except for a purchased Covered Loan, a Financial Institution reports the Application date, 

which is reported as either the date that the Application was received or the date on the 

Application form. 12 CFR 1003.4(a)(1)(ii). Although a Financial Institution need not choose the 

same approach for reporting Application date for its entire HMDA submission, it should be 

generally consistent, such as by routinely using one approach within a particular division of the 

Financial Institution or for a category of loans. Comment 4(a)(1)(ii)-1. 

If a Financial Institution chooses to report the date shown on the Application form and the 

Financial Institution retains multiple versions of the form, the Financial Institution reports the 

date shown on the first form it received that constitutes an Application under the HMDA Rule. 

Comment 4(a)(1)(ii)-1. 

For an Application that was not submitted directly to the Financial Institution, the Financial 

Institution may report the date the Application was received by the party that initially received 

the Application, the date the Application was received by the Financial Institution, or the date 

shown on the Application form. Comment 4(a)(1)(ii)-2. 

If, within the same calendar year, an applicant asks a Financial Institution to reinstate a 

counteroffer that the applicant previously did not accept (or asks the Financial Institution to 

reconsider an Application that was denied, withdrawn, or closed for incompleteness), the 

reportable Application date depends on whether the Financial Institution reports the request as 

62 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
the continuation of the earlier transaction using the earlier transaction’s ULI or non-universal 

loan identifier (as applicable) or as a new transaction with a new ULI or non-universal loan 

identifier (as applicable). If the Financial Institution treats the request for reinstatement or 

reconsideration as a new transaction, it reports the date of the request as the Application date. 

If the Financial Institution does not treat the request for reinstatement or reconsideration as a 

new transaction, it reports the original Application date. Comment 4(a)(1)(ii)-3. 

For a purchased Covered Loan, a Financial Institution reports that this data point is not 

applicable. 12 CFR 1003.4(a)(1)(ii). 

5.4 Application channel 

A Financial Institution reports the application channel in the manner described below unless a 

partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

Except for purchased Covered Loans, a Financial Institution reports both of the following: 

1.	 Whether or not the applicant or borrower submitted the Application directly to 

the Financial Institution. 12 CFR 1003.4(a)(33)(i). For example, the Application was 

submitted directly to the Financial Institution if the mortgage loan originator identified in 

the data point required by 12 CFR 1003.4(a)(34) and discussed in Section 5.30 was the 

reporting Financial Institution’s employee when the originator performed the origination 

activities for the Covered Loan or Application. The Application was also submitted directly 

to the Financial Institution if the Financial Institution directed the applicant to a third-party 

agent (e.g., a credit union service organization) that performed loan origination activities on 

behalf of the reporting Financial Institution and the third-party agent did not assist the 

applicant with applying for Covered Loans with other institutions. Comment 4(a)(33)(i)-1. 

If an applicant contacted and completed an Application with a broker or correspondent that 

forwarded the Application to the Financial Institution for approval, the Application was not 

submitted directly to the Financial Institution. Comment 4(a)(33)(i)-1.iii. 

2.	 Whether or not the obligation arising from the Covered Loan or Application 

was or would have been initially payable to the Financial Institution. 

12 CFR 1003.4(a)(33)(ii). An obligation was initially payable to the Financial Institution if 

the obligation was initially payable on the face of the note or contract to the Financial 

Institution that is reporting the Covered Loan or Application. Comment 4(a)(33)(ii)-1. For 

63 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

an Application that is withdrawn, denied, or closed for incompleteness, a Financial 

Institution reports that the requirement is not applicable if the Financial Institution had not 

determined, at the time it took final action on the Application, whether the loan would be 

initially payable to the Financial Institution. Comment 4(a)(33)(ii)-2. 

For purchased Covered Loans, a Financial Institution reports that this data point is not 

applicable. 12 CFR 1003.4(a)(33). 

5.5 Preapproval request 

A Financial Institution reports whether or not the Application or Covered Loan involved a 

preapproval request for a Home Purchase Loan under a Preapproval Program. 

12 CFR 1003.4(a)(4). For all of the following, a Financial Institution reports that the 

Application or Covered Loan did not involve a preapproval request: a purchased Covered Loan; 

an Open-End Line of Credit or Application for an Open-End Line of Credit; a Reverse Mortgage 

or an Application for a Reverse Mortgage; an Application for a Covered Loan that is denied; an 

Application that is closed for incompleteness or withdrawn; an Application or Covered Loan for 

any purpose other than Home Purchase Loan; and for a Covered Loan secured by a Multifamily 

Dwelling. Comment 4(a)(4)-2. 

5.6 Loan type 

A Financial Institution reports whether the Covered Loan is or the Application was for a Covered 

Loan that would have been: 

1.	 Insured by the Federal Housing Administration; 

2.	 Guaranteed by the Department of Veterans Affairs; 

3.	 Guaranteed by the Rural Housing Service or the Farm Service Agency; or 

4.	 Not insured or guaranteed by any of these Federal agencies (i.e., conventional). 

12 CFR 1003.4(a)(2). 

64 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

5.7 Loan purpose 

A Financial Institution records and reports the Covered Loan’s or Application’s purpose, under 

12 CFR 1003.4(a)(3), using one of the following: 

1.	 Home Purchase Loan. A Home Purchase Loan is a Closed-End Mortgage Loan or OpenEnd Line of Credit that is for the purpose, 

in whole or part, of purchasing a Dwelling. 

12 CFR 1003.2(j). A Home Purchase Loan 

includes: (a) a Closed-End Mortgage 

Loan or Open-End Line of Credit secured 

by one Dwelling and used to purchase 

another Dwelling; (b) a combined 

construction-to-permanent loan that is 

secured by a Dwelling; (c) a separate 

permanent loan that replaces a construction-only loan or line of credit to the same borrower 

if the permanent loan is secured by a Dwelling; and (d) a Dwelling-secured subordinate 

mortgage loan that finances some or all of the home purchaser’s down payment. Comments 

2(j)-1, -3, and -4. 

Home Purchase Loans do not include loans 

that are excluded transactions under the 

HMDA Rule, such as loans that are 

temporary financing under 12 CFR 

1003.3(c)(3). See Section 4.1.2 for more 

information on excluded transactions. 

An assumption is a Home Purchase Loan when: (a) the assumption is a Closed-End 

Mortgage or Open-End Line of Credit; (b) the Financial Institution enters into a written 

agreement accepting a new borrower as the obligor on an existing obligation; and (c) the 

purpose is to finance the new borrower’s purchase of the Dwelling securing the existing 

obligation. An assumption is not a Home Purchase Loan if the new borrower assumes the 

existing borrower’s obligation after acquiring title to the Dwelling securing the existing 

obligation because the purpose is not to finance the new borrower’s purchase of the 

Dwelling. The assumption would be reported using a loan purpose other than Home 

Purchase Loan. Comment 2(j)-5. 

Example: Borrower A obtains title to Owner A’s Dwelling after assuming Owner A’s 

existing debt obligation. Borrower A’s transaction is a Home Purchase Loan. In contrast, 

Borrower B obtains title to Owner B’s Dwelling in Year 1 and in Year 2 assumes Owner B’s 

existing debt obligation. Borrower B’s transaction is not a Home Purchase Loan. 

65 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

2.	 Home Improvement Loan. A Home Improvement Loan is a Closed-End Mortgage Loan 

or Open-End Line of Credit that is for the purpose, in whole or part, of repairing, 

rehabilitating, remodeling, or improving a Dwelling or the real property on which the 

Dwelling is located. 12 CFR 1003.2(i). For example, a Home Improvement Loan includes: 

(a) a Covered Loan if any of the proceeds are used for repair, rehabilitation, remodeling, or 

improvement of the Dwelling or the real property on which the Dwelling securing the 

Covered Loan is located, even if the remainder is used for totally unrelated purposes, such as 

college tuition; (b) a Covered Loan used to install a swimming pool, construct a garage, or 

improve landscaping on the real property on which the Dwelling securing the Covered Loan 

is located; and (c) a Covered Loan used to improve a Multifamily Dwelling used for 

residential and commercial purposes if the proceeds are used either to improve the entire 

property (e.g., to replace a heating system that services the entire structure) or primarily to 

improve the residential portion of the Multifamily Dwelling. Comments 2(i)-1, -2, and -4. 

3.	 Refinancing. A Refinancing is a Closed-End Mortgage Loan or Open-End Line of Credit in 

which a new Dwelling-secured debt obligation satisfies and replaces an existing Dwellingsecured debt obligation by the same borrower. 12 CFR 1003.2(p). Generally, whether the 

new debt obligation satisfies and replaces an existing obligation is determined by reference 

to the parties’ contract and applicable law. In order for a Covered Loan to be a Refinancing, 

both the new and existing transactions must be secured by a Dwelling. Only one borrower 

need be the same on the new and existing transactions. Comments 2(p)-1, -3, and -4. 

4.	 Cash-out Refinancing. A Financial Institution reports a Covered Loan or an Application 

as a cash-out Refinancing if it is a Refinancing and the Financial Institution considered it to 

be a cash-out Refinancing when processing the Application or setting the terms under its or 

an investor’s guidelines. For example, if a Financial Institution considers a loan product to 

be a cash-out Refinancing under an investor’s guidelines because of the amount of cash 

received by the borrower at closing or account opening, it reports the transaction as a cashout Refinancing. If a Financial Institution does not distinguish between a cash-out 

Refinancing and a Refinancing under its own guidelines, sets the terms of all Refinancings 

without regard to the amount of cash received by the borrower at loan closing or account 

opening, and does not offer loan products under investor guidelines, it reports all 

Refinancings as Refinancings, not cash-out Refinancings. Comment 4(a)(3)-2. 

5.	 Other. If a Covered Loan is not, or an Application is not for, a Home Purchase Loan, a 

Home Improvement Loan, a Refinancing, or a cash-out Refinancing, a Financial Institution 

reports the purpose as “other.” For example, if a Covered Loan is for the purpose of paying 

educational expenses, the Financial Institution reports the purpose as “other.” A Financial 

Institution also uses “other” if the Covered Loan is or the Application is for a Refinancing 

66 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
but, under the terms of the existing credit agreement, the Financial Institution was 

unconditionally obligated to refinance the obligation subject to conditions within the 

borrower’s control. Comment 4(a)(3)-4. 

The following chart illustrates the reportable purpose for multiple-purpose Covered Loans 

originated on or after January 1, 2018. For purchased Covered Loans originated prior to 

January 1, 2018, a Financial Institution reports “Not Applicable.” See also comments 4(a)(3)-3 

and -6. 

Multiple Purposes Reportable Purpose 

Home Purchase Loan and Home Improvement 

Loan Home Purchase Loan 

Home Purchase Loan and Refinancing Home Purchase Loan 

Home Purchase Loan and cash-out Refinancing Home Purchase Loan 

Home Purchase Loan and other Home Purchase Loan 

Home Improvement Loan and Refinancing Refinancing 

Home Improvement Loan and cash-out 

Refinancing Cash-out Refinancing 

Refinancing and other Refinancing 

Cash-out Refinancing and other Cash-out Refinancing 

Home Improvement Loan and other Home Improvement Loan 

A Financial Institution may rely on an applicant’s oral or written statement regarding the 

proposed use of the loan proceeds. For example, a Financial Institution could use a check box or 

a purpose line on an Application form. If an applicant provides no statement as to the proposed 

use of the proceeds, and the Covered Loan is not a Home Purchase Loan, cash-out Refinancing, 

or Refinancing, a Financial Institution reports the Covered Loan as for an “other” purpose. 

Comment 4(a)(3)-1. 

67 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

5.8 Loan amount 

A Financial Institution must report the loan amount for the Covered Loan or Application. 

12 CFR 1003.4(a)(7). The first chart below provides information on determining the loan 

amount that is reported for Covered Loans. The second chart below provides information on 

determining the reportable loan amount for transactions that involve multiple purposes, 

counteroffers, and Applications that do not result in the Financial Institution originating a 

Covered Loan. 

If the Covered Loan is a: The reportable loan amount is the: 

Closed-End Mortgage Loan other than a 

purchased Closed-End Mortgage Loan, 

assumption, or a Reverse Mortgage 

Amount to be repaid as disclosed on the legal 

obligation. 12 CFR 1003.4(a)(7)(i); comment 

4(a)(7)-5. 

Purchased Closed-End Mortgage Loan or 

assumption of a Closed-End Mortgage Loan 

Unpaid principal balance at the time of purchase 

or assumption. 12 CFR 1003.4(a)(7)(i); 

comment 4(a)(7)-5. 

Open-End Line of Credit (including a purchased 

Open-End Line of Credit and assumption of an 

Open-End Line of Credit) other than a Reverse 

Mortgage 

Amount of credit available to borrower under the 

terms of plan. 12 CFR 1003.4(a)(7)(ii); comment 

4(a)(7)-6. 

Initial principal limit (as determined pursuant to 

section 255 of the National Housing Act and 

implementing regulations and mortgagee letters 

issued by HUD). 12 CFR 1003.4(a)(7)(iii); 

comment 4(a)(7)-9. 

Reverse Mortgage 

Loan amount for new debt obligation based on 

the type of Covered Loan (see above). Comment 

4(a)(7)-7. 

Refinancing	 

If the transaction involves: Report the: 

A counteroffer that is accepted for an amount that 

is different from the amount for which the 

applicant applied 

Loan amount granted for the Covered Loan. 

Comment 4(a)(7)-1. 

68 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

A counteroffer for an amount different from the 

amount for which the applicant applied, and the 

applicant did not accept or failed to respond 

Amount for which applicant initially applied. 

Comment 4(a)(7)-1. 

An approved but not accepted Application 

(including an approved but not accepted 

preapproval request) 

Approved loan amount. Comment 4(a)(7)-2. 

Application (including a preapproval request) that 

was denied, closed for incompleteness, or 

withdrawn 

Amount requested. Comment 4(a)(7)-3. 

Loan proceeds that will be used for more than 

one purpose 

Entire loan amount for the Covered Loan, even if 

only a portion of the proceeds is intended for the 

reported purpose. Comment 4(a)(7)-4. 

5.9 Loan term 

A Financial Institution reports the loan term in the manner described below unless a partial 

exemption applies. If a partial exemption applies, see Section 4.3.3. 

A Financial Institution reports the loan term as the scheduled number of months after which the 

legal obligation will mature or terminate or would have matured or terminated. 

12 CFR 1003.4(a)(25). If a Covered Loan or Application includes a schedule with repayment 

periods measured in a unit of time other than months, the Financial Institution reports the loan 

term in months using an equivalent number of whole months without regard for any remainder. 

Comment 4(a)(25)-2. 

For a fully amortizing Covered Loan, the number of months after which the legal obligation 

matures is the number of months in the amortization schedule, ending with the final payment. 

Covered Loans that do not fully amortize during the maturity term, such as Covered Loans with 

a balloon payment, are reported using the maturity term rather than the amortization term. 

Comment 4(a)(25)-1. 

69 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

For a purchased Covered Loan, a Financial Institution reports the number of months after 

which the legal obligation matures as measured from the Covered Loan’s origination. Comment 

4(a)(25)-3. 

For an Open-End Line of Credit with a definite term, a Financial Institution reports the number 

of months from account opening until the account termination date, including both the draw 

and repayment period (if any). Comment 4(a)(25)-4. 

For a Covered Loan or Application without a definite term, such as a Reverse Mortgage, a 

Financial Institution reports that the data point is not applicable. Comment 4(a)(25)-5. 

5.10 Action taken and date 

A Financial Institution reports its action taken and the date of its action. 12 CFR 1003.4(a)(8). 

The action taken is reported as one of the following: (1) loan originated; (2) application 

approved but not accepted; (3) application denied; (4) application withdrawn; (5) file closed for 

incompleteness; (6) loan purchased; (7) preapproval request denied; or (8) preapproval request 

approved but not accepted. 12 CFR 1003.4(a)(8)(i); comments 4(a)(8)(i)-1 through -14. 

The Action Taken chart in Attachment B provides additional information on how to determine 

the reportable action taken and date of action taken. See also 12 CFR 1003.4(a)(8)(ii) and its 

commentary for information on reporting the date of the action taken. 

5.11 Reasons for denial 

A Financial Institution reports the reasons for denial in the manner described below unless a 

partial exemption applies. If a partial exemption applies, see Section 4.3.3.17 

17 Certain Financial Institutions supervised by the OCC and the FDIC are required by those agencies to report reasons 

for denial on their HMDA loan/application registers, even if a partial exemption applies. 12 CFR 27.3(a)(1)(i), 128.6, 

390.147. 

70 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
For an Application that it denied, a Financial Institution must report the principal reasons (up 

to four) that it denied the Application. 12 CFR 1003.4(a)(16); comment 4(a)(16)-1. For all other 

transactions, a Financial Institution reports that the data point is not applicable. Comment 

4(a)(16)-4. 

If a Financial Institution provided the reason or reasons it denied the Application using the 

model form contained in appendix C to Regulation B (Form C–1, Sample Notice of Action Taken 

and Statement of Reasons) or a similar form, the Financial Institution reports the reason or 

reasons specified on that form, including reporting the “Other” reason or reasons that were 

specified on the form, if applicable. If a Financial Institution provided a disclosure of the 

applicant’s right to a statement of specific reasons using the model form contained in appendix 

C to Regulation B (Form C–5, Sample Disclosure of Right to Request Specific Reasons for Credit 

Denial) or a similar form, or provided the denial reasons orally under Regulation B, the 

Financial Institution reports the principal reasons it denied the Application. 

Comment 4(a)(16)-3. 

The Financial Institution reports only the principal reason or reasons it denied the Application, 

even if there are fewer than four reasons. For example, if a Financial Institution denied the 

Application because of the applicant’s credit history and debt-to-income ratio, the Financial 

Institution only reports these two principal reasons. The reason or reasons reported must be 

specific and accurately describe the principal reason or reasons the Financial Institution denied 

the Application. Comment 4(a)(16)-1. 

If a Financial Institution denied a preapproval request under a Preapproval Program, the 

Financial Institution must report the principal reason or reasons (up to four) that it denied the 

preapproval request. Comment 4(a)(16)-2. 

71 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

5.12 Property address and property location 

Unless a partial exemption applies, a 

Financial Institution reports the property 

address of the property securing the 

Covered Loan or, for an Application, 

proposed to secure the Covered Loan. 

12 CFR 1003.4(a)(9)(i). For Applications 

that did not result in an origination, the 

property address corresponds to the 

location of the property proposed to secure 

the loan as identified by the applicant. For 

Covered Loans, the property address corresponds to the property identified in the legal 

obligation. Comment 4(a)(9)(i)-1. If a partial exemption applies to a Covered Loan or 

Application, see Section 4.3.3 for information on reporting the property address. 

Property address is one of the 26 data points 

that a Financial Institution is not required to 

report if a partial exemption applies to a 

transaction. However, the property location 

data points (i.e., state, county, and census 

tract) are among the 22 data points that are 

not affected by the HMDA Rule. 

Additionally, regardless of whether a partial 

exemption applies, a Financial Institution 

reports the property location (i.e., the state, 

county, and census tract) for the property 

securing the Covered Loan or, for an 

Application, proposed to secure the Covered 

Loan if: (1) the property is located in an MSA 

or metropolitan division (MD)18 in which the 

Financial Institution has a home or Branch Office; or (2) if the Financial Institution is a bank or 

savings association required to report data on small business, small farm, and community 

development lending under the CRA. 

For transactions for which state, county, or 

census tract is not required, a Financial 

Institution may report that the data point is 

not applicable, or it may voluntarily report 

the state, county, or census tract information. 

Comment 4(a)(9)(ii)-1. 

18 Metropolitan divisions (MDs) are metropolitan divisions of MSAs as defined by the OMB. 12 CFR 1003.2(m)(2). 

For more information on MDs and MSAs, see https://www.ffiec.gov/census/default.aspx and 

https://www.ffiec.gov/geocode/help1.aspx. 

72 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

If a Financial Institution is required to 

report property location, it must include the 

census tract only if the property is located 

in a county with a population of more than 

30,000 according to the most recent 

decennial census. 12 CFR 1003.4(a)(9)(ii). 

See also 12 CFR 1003.4(e). 

Incorrect entries reporting the census tract 

are not violations of HMDA or Regulation C 

if the Financial Institution obtained the 

census tract number from the geocoding tool 

made available through the Bureau’s website, 

provided the Financial Institution entered an 

accurate property address into the tool and 

the tool returned a census tract number. For 

more information, see Section 7. 

If a Covered Loan is related to more than one property, but only one property secures or, for an 

Application, would have secured the Covered Loan, a Financial Institution reports the property 

address and property location, as applicable, of the property that secures or would have secured 

the Covered Loan. A Financial Institution does not report the property address or property 

location for any properties that do not secure or would not have secured the Covered Loan. 

Comment 4(a)(9)-1. 

If more than one property secures the Covered Loan or, in the case of an Application, would 

have secured the Covered Loan, a Financial Institution reports the Covered Loan or Application 

in a single entry on its LAR and provides the property address and property location, as 

applicable, for only one property. The Financial Institution can choose the property for which it 

reports this information, but it must choose a property that secures the Covered Loan (or, in the 

case of an Application, would have secured the Covered Loan) and that includes a Dwelling. If a 

single Multifamily Dwelling has more than one postal address, a Financial Institution reports 

one of the postal addresses. Comments 4(a)(9)-2 and -3. 

If other data points require the Financial Institution to report specific information about 

property securing or involved with a Covered Loan or Application, the Financial Institution 

reports the information that relates to the property for which it has provided the address and 

location for these data points. Comment 4(a)(9)-2. For purposes of this guide, the property for 

which the Financial Institution has provided the address and location for these data points is 

called the Identified Property. 

If the site for a Manufactured Home has not been identified, a Financial Institution may report 

that the data points for the property address and property location are not applicable. Comment 

4(a)(9)-5. If the property address of the property securing the Covered Loan is unknown, a 

Financial Institution may report that the data point for the property address is not applicable. 

For example, the Financial Institution may report that the data point is not applicable if the 

73 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
property did not have an address at closing or if the applicant did not provide the property 

address before the Application was denied, withdrawn, or closed for incompleteness. Comment 

4(a)(9)(i)-3. 

Similarly, when reporting an Application, a Financial Institution may report that the data points 

for property location (i.e., state, county, and census tracts) are not applicable if the information 

was not known before the Application was denied, withdrawn, or closed for incompleteness. 

Comments 4(a)(9)(ii)(A)-1, (B)-2, and (C)-2. 

5.13 Construction method 

A Financial Institution reports the construction method for the Identified Property, using one of 

the following: 

1. Site-built; or 

2. Manufactured Home. 12 CFR 1003.4(a)(5). 

A residential structure that satisfies the definition of “manufactured home” under HUD’s 

regulations, 24 CFR 3280.2, is reported as a Manufactured Home. 12 CFR 1003.2(l). A 

Manufactured Home will generally bear a HUD Certification Label and data plate noting 

compliance with the Federal standards. Comment 2(l)-2. 

Modular homes and factory-built homes that do not meet the definition of “manufactured 

home” in HUD’s regulations are not Manufactured Homes under the HMDA Rule and are 

reported as site-built, regardless of whether they are on-frame or off-frame modular homes. 

Modular homes comply with local or other recognized buildings codes rather than standards 

established by the National Manufactured Housing Construction and Safety Standards Act, 42 

U.S.C. 5401 et seq. Modular homes are not required to have HUD Certification Labels under 24 

CFR 3280.11 or data plates under 24 CFR 3280.5, but may have a certification from a State 

licensing agency that documents compliance with State or other applicable building codes. 

Dwellings built using prefabricated components assembled at the Dwelling’s permanent site 

should also be reported as site-built. Comment 4(a)(5)-1. 

For a Multifamily Dwelling, the Financial Institution should report the construction method as 

site-built unless the Multifamily Dwelling is a Manufactured Home community, in which case 

74 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

the Financial Institution should report the construction method as Manufactured Home. 

Comment 4(a)(5)-2. 

5.14 Occupancy type 

A Financial Institution reports the occupancy type for the Identified Property, using one of the 

following: 

1.	 Principal residence. An applicant or borrower can have only one principal residence at a 

time. However, if an applicant or borrower buys or builds a new Dwelling that will become 

the applicant’s or borrower’s principal residence within a year or upon the completion of 

construction, the new Dwelling is considered the principal residence for this data point. 

Comment 4(a)(6)-2. For purchased Covered Loans, a Financial Institution may report the 

occupancy type as “principal residence” unless the loan documents or Application indicate 

that the property will not be occupied as a principal residence. Comment 4(a)(6)-5. 

2.	 Second residence. A property is a second residence if the property is or will be occupied 

by the applicant or borrower for a portion of the year and is not the applicant’s or borrower’s 

principal residence. For example, if a person purchases a property, occupies the property for 

a portion of the year, and rents the property for the remainder of the year, the property is a 

second residence. Similarly, if a person occupies a property near his or her place of 

employment on weekdays, but the person returns to his or her principal residence on 

weekends, the property near the person’s place of employment is a second residence. 

Comment 4(a)(6)-3. 

3.	 Investment property. A property is an investment property if the applicant or borrower 

does not occupy the property. For example, if a person purchases a property, does not 

occupy the property, and generates income by renting the property, the property is an 

investment property. Similarly, if a person purchases a property, does not occupy the 

property, and does not generate income by renting the property, but intends to generate 

income by selling the property, the property is an investment property. Comment 4(a)(6)-4. 

If a corporation purchases a property that is a Dwelling and uses it for the long-term 

residence of its employees, the property is an investment property, even if the corporation 

considers the property as owned for business purposes rather than investment purposes, 

does not generate income by renting the property, and does not intend to generate income 

by selling the property. If the property is for transitory use by employees, the property 

would not be considered a Dwelling. Comment 4(a)(6)-4. 

75 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

5.15 Lien status 

A Financial Institution reports the lien status of the lien on the Identified Property as either a 

first lien or a subordinate lien. 12 CFR 1003.4(a)(14). 

The HMDA Rule requires a Financial Institution to report the lien status for Covered Loans it 

purchased. For purchased Covered Loans, lien status is determined by reference to the best 

information readily available to the Financial Institution at the time of purchase. 

For Applications and originations of Covered Loans, lien status is determined by reference to the 

best information readily available to the Financial Institution at the time final action is taken 

and to the Financial Institution’s own procedures. When reporting lien status, Financial 

Institutions may rely on title searches they routinely obtain, but the HMDA Rule does not 

require Financial Institutions to obtain title searches solely to comply with Regulation C. 

Financial Institutions may rely on other information that is readily available to them at the time 

final action is taken and that they reasonably believe is accurate, such as the applicant’s 

statement on the Application form or the applicant’s credit report. Comment 4(a)(14)-1. 

Examples: An applicant applies for a Covered Loan from Ficus Bank and indicates on the 

Application form that there is a mortgage on the Dwelling that will secure the applicant’s 

Covered Loan. Ficus Bank obtains the applicant’s credit report, and it shows that the 

applicant has a mortgage loan. The existing mortgage will not be paid off as part of the 

transaction. Ficus Bank may assume that the transaction involves a subordinate lien for 

purposes of HMDA reporting. 

An applicant applies for a loan from Ficus Bank to refinance the applicant’s existing home 

mortgage loan. The existing loan is and the new loan will be secured by the applicant’s 

principal residence. The applicant also has an Open-End Line of Credit for $20,000 

secured by the principal residence. Ficus Bank’s practice in such a case is to ensure that it 

will have first-lien position through a subordination agreement with the holder of the lien 

securing the Open-End Line of Credit. Ficus Bank may assume that the transaction 

involves a first lien for purposes of HMDA reporting. 

76 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

5.16 Manufactured home information 

A Financial Institution reports manufactured home information in the manner described below 

unless a partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

If a Dwelling on the Identified Property is a Manufactured Home and not a Multifamily Dwelling 

(i.e., it has four or fewer individual dwelling units), the Financial Institution must report both: 

1.	 Secured Property Type. Whether the Covered Loan is or the Application would have 

been secured by: (a) both a Manufactured Home and land; or (b) a Manufactured Home and 

not land. 12 CFR 1003.4(a)(29). A Financial Institution reports that a Covered Loan is or 

would have been secured only by a Manufactured Home and not land if the Covered Loan is 

not secured by the land, even if the Manufactured Home is considered real property under 

applicable State law. Comment 4(a)(29)-1. 

2.	 Land Property Interest. Information about the applicant’s or borrower’s property 

interest in the land on which the Manufactured Home is or would have been located, 

reported as one of the following: 

a.	 Direct ownership. An applicant or borrower has a direct ownership interest in the land 

on which the Dwelling is or is to be located when it has more than a possessory real 

property ownership interest in the land, such as fee simple ownership. Comment 

4(a)(30)-5. 

b. Indirect ownership. Indirect land ownership can occur when the applicant or borrower is 

or will be a member of a resident-owned community structured as a housing cooperative 

in which the occupants own an entity that holds the land underlying the Manufactured 

Home community. In such communities, the applicant or borrower may still have a 

lease and pay rent for the lot on which his or her Manufactured Home is or will be 

located, but the property interest type for such an arrangement should be reported as 

indirect ownership if the applicant is or will be a member of the cooperative that owns 

the Manufactured Home community’s underlying land. If an applicant resides or will 

reside in such a community but is not a member, the property interest type should be 

reported as a paid leasehold. Comment 4(a)(30)-1. 

77 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

c.	 Paid Leasehold. For example, a paid leasehold occurs when a borrower locates the 

Manufactured Home on a lot in which the borrower does not have an ownership interest, 

the borrower has a written lease for the lot, and the lease specifies rent payments. 

Comment 4(a)(30)-2. 

d. Unpaid Leasehold. For example, an unpaid leasehold occurs when the borrower locates 

the Manufactured Home on land owned by a family member, does not have a written 

lease, and does not have an agreement regarding rent payments. Comment 4(a)(30)-2. 

If the Dwelling securing the Covered Loan (or that would have secured the resulting Covered 

Loan in the case of an Application) is not a Manufactured Home, the Financial Institution 

reports that these data points are not applicable. Comments 4(a)(29)-4 and 4(a)(30)-6. 

A Manufactured Home community that is a Multifamily Dwelling is not considered a 

Manufactured Home for purposes of reporting these data points. Comment 4(a)(29)-2 and 

4(a)(30)-4. 

5.17 Property value 

A Financial Institution reports the property value in the manner described below unless a partial 

exemption applies. If a partial exemption applies, see Section 4.3.3. 

For a Covered Loan, a Financial Institution reports the value of the property securing the 

Covered Loan. For an Application that did not result in a Covered Loan (other than an 

Application that was withdrawn before a credit decision was made or that was closed for 

incompleteness), a Financial Institution reports the value of the property proposed to secure the 

Covered Loan. 12 CFR 1003.4(a)(28). A Financial Institution reports that the data point is not 

applicable for an Application that was withdrawn before a credit decision was made or was 

closed for incompleteness, even if the Financial Institution obtained a property value. Comment 

4(a)(28)-3. 

A Financial Institution reports the property value it relied on in making its credit decision. 

12 CFR 1003.4(a)(28). If the Financial Institution relied on an appraisal or other valuation of a 

property when calculating the loan-to-value ratio, it reports the value stated in the appraisal or 

other valuation on which it relied. If the Financial Institution relied on the purchase price of a 

78 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
property when calculating the loan-to-value ratio, it reports the purchase price as the property 

value. Comment 4(a)(28)-1. 

Example: Ficus Bank obtains an appraisal that values a parcel of property at $100,000, 

an automated valuation model report that values the property at $110,000, and a broker 

price opinion that values the property at $105,000. When approving the Application, 

Ficus Bank relies on the appraisal. It reports the property value as $100,000. 

The HMDA Rule does not require a Financial Institution to obtain a property valuation or to rely 

on a property value in making a credit decision. A Financial Institution reports that this data 

point is not applicable if it does not rely on property value when making the credit decision. 

Comment 4(a)(28)-4. 

5.18 Total units 

For a Covered Loan, a Financial Institution reports the number of individual Dwelling units 

related to the property securing the Covered Loan. For an Application, it reports the number of 

individual Dwelling units related to the property proposed to secure the Covered Loan. 

12 CFR 1003.4(a)(31). 

For an Application or Covered Loan secured by a Manufactured Home community, the Financial 

Institution should include the total number of Manufactured Home sites that secure the loan 

and are available for occupancy, regardless of whether the sites are occupied or have 

Manufactured Homes attached. For a loan secured by a single Manufactured Home that is or 

will be located in a Manufactured Home community, the Financial Institution should report one 

individual Dwelling unit. Comment 4(a)(31)-2. 

For a Covered Loan secured by a condominium or cooperative complex, the Financial 

Institution reports the total number of individual Dwelling units securing the Covered Loan or 

proposed to secure the Covered Loan in the case of an Application. Comment 4(a)(31)-3.A 

Financial Institution may include recreational vehicle pads, manager apartments, rental 

apartments, site-built homes, or other rentable space that are ancillary to the operation of the 

79 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Examples of State and local sources that may result in reportable units include but are not limited to: (1) State or 

local administration of Federal funds or programs; (2) State or local funding programs for affordable housing or 

rental assistance, including programs operated by independent public authorities; (3) inclusionary zoning laws; and 

(4) tax abatement or tax increment financing contingent on affordable housing requirements. Comment 4(a)(32)-3. 

secured property if it considers such units under its underwriting guidelines or investor 

guidelines, or if it tracks the number of such units for its own internal purposes. Comment 

4(a)(31)-2. 

A Financial Institution may rely on the best information readily available to it at the time action 

is taken and on the Financial Institution’s own procedures. Information readily available could 

include, for example, information provided by an applicant that the Financial Institution 

reasonably believes, information contained in a property valuation or inspection, or information 

obtained from public records. Comment 4(a)(31)-4. 

5.19 Multifamily affordable units 

A Financial Institution reports information about multifamily affordable units in the manner 

described below unless a partial exemption applies. If a partial exemption applies, see Section 

4.3.3. 

If the property securing a Covered Loan or proposed to secure an Application includes a 

Multifamily Dwelling, the Financial Institution must provide the number of individual Dwelling 

units that are income-restricted pursuant to Federal, State, or local affordable housing 

programs.19 12 CFR 1003.4(a)(32). For a Covered Loan that is not secured by a Multifamily 

Dwelling and for an Application that would not have been secured by a Multifamily Dwelling, 

the Financial Institution reports that this data point is not applicable. Comment 4(a)(32)-6. 

19 Examples of Federal programs and funding sources that may result in reportable units include but are not limited 

to: (1) affordable housing programs pursuant to Section 8 of the United States Housing Act of 1937; (2) public 

housing; (3) the HOME Investment Partnerships program; (4) the Community Development Block Grant program; 

(5) multifamily tax subsidy project funding through tax-exempt bonds or tax credits; (6) Federal Home Loan Bank 

affordable housing program funding; (7) Rural Housing Service multifamily housing loans and grants; and (8) 

project-based vouchers under 24 CFR part 983. Comment 4(a)(32)-2. 

80 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Affordable housing income-restricted units are individual Dwelling units that have restrictions 

based on the occupants’ income level pursuant to restrictive covenants encumbering the 

property. The restrictive covenants may be evidenced by a use agreement, regulatory 

agreement, land use restrictions, or a similar agreement. Rent control or rent stabilization laws, 

the acceptance of Housing Choice Vouchers, and other similar forms of portable housing 

assistance that are tied to an occupant and not an individual dwelling unit are not affordable 

housing income-restricted Dwelling units for purposes of reporting. Comment 4(a)(32)-1. 

A Financial Institution may rely on the best information readily available to it at the time final 

action is taken and on the Financial Institution’s own procedures when reporting. Information 

readily available could include, for example, information provided by an applicant that the 

Financial Institution reasonably believes, information contained in a property valuation or 

inspection, or information obtained from public records. Comment 4(a)(32)-5. 

5.20 Debt-to-income ratio 

A Financial Institution reports debt-to-income (DTI) ratio in the manner described below unless 

a partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

Except for purchased Covered Loans, if the Financial Institution relied on the applicant’s or 

borrower’s DTI ratio when making its credit decision, the Financial Institution reports the DTI 

ratio on which it relied in making the credit decision. 12 CFR 1003.4(a)(23). The DTI ratio is 

the ratio of the applicant’s or borrower’s total monthly debt to total monthly income. 

Examples: Ficus Bank reviews an Application that will be secured by two parcels of 

real property. It calculates the CLTV ratio using its own requirements. It also calculates 

the CLTV ratio using an investor’s requirements. When making its credit decision, Ficus 

Bank relies on the CLTV ratio calculated according to the investor’s requirements. Ficus 

Bank reports the CLTV ratio calculated according to the investor’s requirements. 

A Financial Institution relied on the applicant’s or borrower’s DTI ratio in making the credit 

decision if the DTI ratio was a factor in the credit decision, even if it was not a dispositive factor. 

81 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
For example, if the DTI ratio was one of multiple factors in a Financial Institution’s credit 

decision, the Financial Institution relied on the DTI ratio, even if the Financial Institution 

denied the Application because one or more underwriting requirements other than the DTI ratio 

were not satisfied. Comment 4(a)(23)-2. 

The HMDA Rule does not require a Financial Institution to calculate a DTI ratio and does not 

require a Financial Institution to rely on an applicant’s or borrower’s DTI ratio in making a 

credit decision. Comment 4(a)(23)-4. 

A Financial Institution reports that this data point is not applicable: 

1.	 If it made a credit decision without relying on a DTI ratio; 

2.	 If the Application file was closed for incompleteness (even if a DTI ratio was calculated); 

3.	 For an Application that was withdrawn before a credit decision was made (even if a DTI 

ratio was calculated); 

4.	 If the applicant and co-applicant, if applicable, are not natural persons; 

5.	 For a Covered Loan that is secured, or an Application that is proposed to be secured, by a 

Multifamily Dwelling; or 

6.	 For a purchased Covered Loan. Comments 4(a)(23)-3 through -7. 

5.21 Combined loan-to-value 

A Financial Institution reports combined loan-to-value (CLTV) in the manner described below 

unless a partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

Except for a purchased Covered Loan, if the Financial Institution relied on a CLTV ratio when 

making its credit decision, the Financial Institution reports the CLTV ratio on which it relied. 

The CLTV ratio is the ratio of the total amount of debt secured by the property securing the 

Covered Loan (or, for an Application, proposed to secure a Covered Loan) to the value of that 

property. 12 CFR 1003.4(a)(24). A Financial Institution reports the CLTV ratio relied on in 

making the credit decision, regardless of which property or properties it used in the CLTV ratio 

calculation. The property used in the CLTV ratio does not need to be the Identified Property and 

may include more than one property and non-real property. Comment 4(a)(24)-6. 

82 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Financial Institution relied on the CLTV ratio when making the credit decision if the CLTV ratio 

was a factor in the credit decision, even if it was not a dispositive factor. For example, if the 

CLTV ratio was one of multiple factors in a Financial Institution’s credit decision, the Financial 

Institution relied on the CLTV ratio, even if the Financial Institution denied the Application 

because one or more underwriting requirements other than the CLTV ratio were not satisfied. 

Comments 4(a)(24)-1 and -2. 

Examples: Ficus Bank reviews an Application that will be secured by two parcels of real 

property. It calculates the CLTV ratio using its own requirements. It also calculates the 

CLTV ratio using an investor’s requirements. When making its credit decision, Ficus
 

Bank relies on the CLTV ratio calculated according to the investor’s requirements. Ficus 

Bank reports the CLTV ratio calculated according to the investor’s requirements. 

Ficus Bank originates a Covered Loan for the purchase of a Multifamily Dwelling. The 

Covered Loan is secured by the Multifamily Dwelling and certain securities. Ficus Bank 

uses both the value of the Multifamily Dwelling and the value of the securities when 

calculating the CLTV ratio that it relies on when making the credit decision. Ficus Bank 

reports the CLTV ratio it relies on when making the credit decision. 

The HMDA Rule does not require a Financial Institution to calculate the CLTV ratio and does 

not require a Financial Institution to rely on a CLTV ratio in making a credit decision. Comment 

4(a)(24)-4. 

A Financial Institution reports that this data point is not applicable: 

1.	 If it did not rely on a CLTV when making the credit decision; 

2.	 If the Application file was closed for incompleteness (even if a CLTV ratio was 

calculated); 

3.	 For an Application that was withdrawn before a credit decision was made (even if a CLTV 

ratio was calculated); or 

4.	 For a purchased Covered Loan. Comments 4(a)(23)-3 through -5. 

83 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

5.22 Credit score information 

A Financial Institution reports credit score information in the manner described below unless a 

partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

Except for purchased Covered Loans, a Financial Institution reports the credit score or scores it 

relied on in making the credit decision and the name and version of the scoring model used to 

generate each reported credit score. 12 CFR 1003.4(a)(15)(i). 

The term “credit score” has the same meaning as set forth in the Fair Credit Reporting Act, 15 

USC 1681g(f)(2)(A). 12 CFR 1003.4(a)(15)(ii). A “credit score” is a numerical value or a 

categorization derived from a statistical tool or modeling system used by a person who makes or 

arranges a loan to predict the likelihood of certain credit behaviors, including default. A “credit 

score” does not include: (1) any mortgage score or rating of an automated underwriting system 

that considers one or more factors in addition to credit information, including loan-to-value 

ratio, the amount of down payment, or the consumer’s financial assets; or (2) any other 

elements of the underwriting process or underwriting decision. 15 USC 1681g(f)(2)(A). 

A Financial Institution relied on a credit score in making the credit decision if the credit score 

was a factor in the credit decision, even if it was not a dispositive factor. For example, if a credit 

score was one of multiple factors in a Financial Institution’s credit decision, the Financial 

Institution relied on the credit score even if the Financial Institution denied the Application 

because one or more underwriting requirements other than the credit score were not satisfied. 

Comment 4(a)(15)-1. 

When a Financial Institution obtained or created two or more credit scores for a single applicant 

or borrower but relied on only one score in making the credit decision (e.g., by relying on the 

lowest, highest, most recent, or average of all of the scores), the Financial Institution reports the 

credit score it actually relied on and the information about the scoring model it used. When a 

Financial Institution used more than one credit scoring model and combined the scores into a 

composite score and then relied on the composite score, the Financial Institution reports the 

composite score and reports that more than one scoring model was used. When a Financial 

Institution obtained two or more credit scores for the applicant or borrower and relied on 

multiple credit scores in making the credit decision (e.g., by relying on a scoring grid that 

considers each of the scores obtained or created for the applicant or borrower without 

combining the scores into a composite score), the Financial Institution reports one of the credit 

84 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
scores that it relied on in making the credit decision. In choosing which credit score to report, a 

Financial Institution need not use the same approach for its entire HMDA data submission, but 

it should be generally consistent (e.g., by routinely using one approach within a particular 

division of the Financial Institution or for a category of Covered Loans). The Financial 

Institution reports the name and version of the credit-scoring model for the score reported. 

Comment 4(a)(15)-2. 

If a transaction involved two or more applicants or borrowers for whom the Financial Institution 

obtained or created a single credit score and if the Financial Institution relied on that single 

credit score when making the credit decision, the Financial Institution reports that credit score 

for the applicant and reports that the data point is not applicable for the co-applicant. 

Alternatively, at its discretion, the Financial Institution may report that credit score for the first 

co-applicant and report that the data point is not applicable for the applicant. If a transaction 

involved more than one applicant and a Financial Institution relied on separate credit scores for 

each applicant, it reports the credit score it relied on for the applicant and the credit score it 

relied on for the first co-applicant. Comment 4(a)(15)-3. 

Examples: Two individuals apply for a Covered Loan. Ficus Bank obtains two credit 

scores for the applicant and two credit scores for the co-applicant. Ficus Bank relies on 

the highest of the four credit scores it obtained. Ficus Bank reports the highest credit 

score and information about the credit scoring model used. Ficus Bank may report the 

score and information for the applicant and report “not applicable” for the co-applicant 

or, at its discretion, Ficus Bank can report the score and information for the co-applicant 

and report “not applicable” for the applicant. 

Two individuals apply for a Covered Loan. Ficus Bank obtains three credit scores for the 

applicant and three credit scores for the co-applicant. Ficus Bank relies on the middle
 

credit score for the applicant and the middle score for the co-applicant. Ficus Bank 

reports the middle score and related scoring model information for the applicant and the 

middle score and related scoring model information for the co-applicant. 

A Financial Institution reports that the credit score data point is not applicable: 

1. For purchased Covered Loans; 

85 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
2.	 If the Financial Institution did not rely on a credit score; 

3.	 If the Application file was closed for incompleteness (even if a credit score was obtained 

or created); 

4.	 If an Application was withdrawn before a credit decision was made (even if a credit score 

was obtained or created); or 

5.	 If the applicant and co-applicant, if applicable, are not natural persons. Comments 

4(a)(15)-4 through -7. 

5.23 Automated underwriting system 

information 

A Financial Institution reports automated underwriting system (AUS) information in the 

manner described below unless a partial exemption applies. If a partial exemption applies, see 

Section 4.3.3. 

Except for purchased Covered Loans, a Financial Institution reports the name of the Automated 

Underwriting System (AUS), as defined below, that it used to evaluate the Application and the 

AUS result generated by that AUS. 12 CFR 1003.4(a)(35)(i). A Financial Institution must report 

this information only if the Financial Institution used an AUS to evaluate the Application. 

Comment 4(a)(35)-4. 

For purposes of the HMDA Rule, an Automated Underwriting System or AUS is an electronic 

tool: 

1.	 Developed by a securitizer, Federal government insurer, or Federal government 

guarantor of Closed-End Mortgage Loans or Open-End Lines of Credit. For this purpose, 

a person is a securitizer, Federal government insurer, or Federal government guarantor 

of Closed-End Mortgage Loan or Open-End Lines of Credit if that person has ever 

securitized, provided Federal government insurance for, or provided a Federal 

government guarantee for a Closed-End Mortgage Loan or Open-End Line of Credit at 

any point in time. The person does not need to be actively securitizing, insuring, or 

guaranteeing Closed-End Mortgage Loans or Open-End Lines of Credit at the time that 

the Financial Institution uses the AUS to evaluate an Application. 

12 CFR 1003.4(a)(35)(ii); comment 4(a)(35)-2. If a Financial Institution knows or 

86 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

reasonably believes that the system it is using to evaluate an Application is an electronic 

tool developed by a securitizer, Federal government insurer, or Federal government 

guarantor of Closed-End Mortgages or Open-End Lines of Credit, then this prong of the 

definition of AUS is satisfied, and 

the Financial Institution must report 

the name of the system and the 

result generated by that system if 

the second prong of the definition, 

below, is satisfied. If a Financial 

Institution does not know or 

reasonably does not believe that the 

system was developed by a 

securitizer, Federal government 

insurer, or Federal government 

guarantor of Closed-End Mortgages 

or Open-End Lines of Credit, then 

the Financial Institution reports that 

the data point is not applicable, 

provided that the Financial 

Institution maintains procedures 

reasonably adapted to determine 

whether the electronic tool it is 

using meets the definition of an 

AUS. Comment 4(a)(35)-7. 

That provides a result regarding 

both (a) the applicant’s credit risk; 

and (b) whether the Covered Loan is 

eligible to be originated, purchased, insured, or guaranteed by the securitizer, Federal 

government insurer, or Federal government guarantor that developed the electronic tool. 

In order for a system to be an AUS, the system must provide a result regarding both the 

credit risk of the applicant and the eligibility of the loan to be originated, purchased, 

insured, or guaranteed by the securitizer, Federal government insurer, or Federal 

government guarantor that developed the system being used to evaluate the Application. 

For example, if a system is an electronic tool that provides a determination of the loan’s 

eligibility to be purchased, but the system does not also provide an assessment of the 

applicant’s creditworthiness—such as an evaluation of the applicant’s income, debt, and 

2.	 

In order to know or reasonably believe that a 

system is not developed by a securitizer, 

Federal government insurer, or Federal 

government guarantor of Closed-End 

Mortgage Loans or Open-End Lines of 

Credit, a Financial Institution must maintain 

procedures reasonably adapted to make such 

a determination. Reasonably adapted 

procedures include attempting to determine 

with reasonable frequency, such as annually, 

whether the developer of the electronic tool is 

a securitizer, Federal government insurer, or 

Federal government guarantor of Closed-End 

Mortgage Loans or Open-End Lines of 

Credit. For example, in the course of 

renewing an annual sales agreement the 

developer could represent to the Financial 

Institution that the developer is not such a 

securitizer, Federal government insurer, or 

Federal government guarantor of Closed-End 

Mortgage Loans or Open-End Lines of 

Credit. Comment 4(a)(35)-7. 

87 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
credit history—the system is not an AUS. In that case, the Financial Institution reports 

that the data point is not applicable. 12 CFR 1003.4(a)(35)(ii); comment 4(a)(35)-2. 

If a Financial Institution has developed its own proprietary system that it uses to evaluate an 

Application and the Financial Institution is also a securitizer, the system may be an AUS if it also 

meets the other elements of the AUS definition. On the other hand, if a Financial Institution has 

developed its own proprietary system that it uses to evaluate an Application but the Financial 

Institution is not a securitizer, the system is not an AUS. Comment 4(a)(35)-2. 

A Financial Institution that used an AUS to evaluate an Application must report the name of the 

AUS it used to evaluate the Application and the result generated by that system regardless of 

whether the Financial Institution intends to sell or hold the Covered Loan in its portfolio. For 

example, if a Financial Institution used an AUS developed by a securitizer to evaluate an 

Application but ultimately did not sell the Covered Loan and instead holds the Covered Loan in 

its portfolio, the Financial Institution reports the name of the AUS that the Financial Institution 

used to evaluate the Application and the result generated by that system. Comments 4(a)(35)-1.i 

and ii. 

If a Financial Institution used more than one AUS to evaluate an Application or if a Financial 

Institution used one AUS to evaluate an Application but it generated multiple results, the 

Financial Institution must determine which AUS or AUSs and which result or results to 

report. To do so, the Financial Institution can use the following steps in the exact order they are 

presented below. 

1.	 The Financial Institution must determine whether an AUS that it used to evaluate the 

Application matches the loan type it reported for the Application or Covered Loan. For more 

information on reporting loan type, see Section 5.6. 

2.	 If the Financial Institution used an AUS that matches loan type (such as Total Scorecard for 

an FHA loan), it must determine whether it obtained only one result from that AUS. If the 

Financial Institution obtained only one result from the AUS that matches loan type, the 

Financial Institution reports the AUS that matches loan type and the result that it obtained 

from that AUS. 

3.	 If the Financial Institution did not use an AUS that matches loan type or if it obtained more 

than one result from the AUS that matches loan type, the Financial Institution must 

determine whether an AUS that it used to evaluate the Application matches the purchaser, 

insurer, or guarantor (if any) for the Covered Loan. 

88 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
4.	 If the Financial Institution used an AUS that matches the purchaser, insurer, or guarantor 

(such as Desktop Underwriter for a Covered Loan that Fannie Mae purchased), it must 

determine whether it obtained only one result from that AUS. If the Financial Institution 

obtained only one result from the AUS that matches the purchaser, insurer, or guarantor, 

the Financial Institution reports the AUS that matches and the result that it obtained from 

that AUS. 

5.	 If the Financial Institution did not use an AUS that matches the purchaser, insurer, or 

guarantor or it obtained multiple results from an AUS that matches the purchaser, insurer, 

or guarantor or loan type, the Financial Institution reports the result it obtained closest in 

time to the credit decision and the AUS that generated that result, unless the Financial 

Institution obtained multiple results closest in time to the credit decision. For example, a 

Financial Institution obtains multiple results closest in time to the credit decision if it 

obtains two results at noon on the day immediately before it makes the credit decision and 

does not obtain any results at a later time. 

6.	 If the Financial Institution simultaneously obtains multiple results closest in time to the 

credit decision, the Financial Institution reports each of the multiple AUS results that it 

obtained and the AUSs that generated each of those results up to a total of five results and 

five AUSs. The Financial Institution will never report more than five results or five AUSs. If 

the Financial Institution used more than five AUSs or it obtained more than five results, the 

Financial Institution chooses five AUSs and five results to report. Comment 4(a)(35)-3. 

The HMDA Rule does not require a Financial Institution to use an AUS when evaluating an 

Application. Comment 4(a)(35)-4. A Financial Institution reports that the AUS data point is 

not applicable: 

1.	 If it does not use an AUS to evaluate the Application; 

2.	 When the applicant and co-applicant, if applicable, are not natural persons; or 

3.	 For purchased Covered Loans. Comments 4(a)(35)-4 through -6. 

5.24 Interest rate 

A Financial Institution reports the interest rate in the manner described below unless a partial 

exemption applies. If a partial exemption applies, see Section 4.3.3. 

89 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
A Financial Institution reports the interest rate applicable to a Covered Loan or to an 

Application that is approved but not accepted. 12 CFR 1003.4(a)(21). For Applications that are 

denied, withdrawn or closed for incompleteness, a Financial Institution reports that this data 

point is not applicable. Comment 4(a)(21)-2. 

The following table describes which rate a Financial Institution reports depending on the type of 

transaction. For purposes of this table, the date a revised Loan Estimate or corrected Closing 

Disclosure is provided to the applicant or borrower is the date disclosed as the “Date Issued” on 

that revised or corrected disclosure. 

For an: 

Rate stated in Loan Estimate (if no Closing 

Disclosure provided) or in Closing Disclosure (if 

provided), assuming it accurately reflects the rate 

when Financial Institution approved the 

Application. If a revised Loan Estimate (but no 

Closing Disclosure) was provided to the applicant 

prior to the end of the reporting period in which 

final action was taken or if a corrected Closing 

Disclosure was provided to the applicant prior to 

the end of the reporting period in which final 

action was taken, the Financial Institution reports 

the rate stated in the revised or corrected 

disclosure, as applicable. 

Otherwise, rate at the time Financial Institution 

approved the Application. Comments 4(a)(21)-1 

and -2. 

Application approved but not accepted for fixedrate Covered Loan subject to Regulation Z’s Loan 

Estimate and Closing Disclosure requirements 

Application approved but not accepted for a fixedrate Covered Loan not subject to Regulation Z’s 

Loan Estimate and Closing Disclosure 

requirements 

Rate applicable when Financial Institution 

approved the Application. Comment 4(a)(21)-2. 

Rate stated in Loan Estimate (if no Closing 

Disclosure provided) or in Closing Disclosure (if 

provided), assuming it accurately reflects the rate 

when Financial Institution approved the 

Application. If a revised Loan Estimate (but no 

Closing Disclosure) was provided to the applicant 

prior to the end of the reporting period in which 

final action was taken or if a corrected Closing 

Disclosure was provided to the applicant prior to 

the end of the reporting period in which final 

action was taken, the Financial Institution reports 

Application approved but not accepted for a 

variable-rate Covered Loan subject to Regulation 

Z’s Loan Estimate and Closing Disclosure 

requirements 

90 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 

Report: 
For an: Report: 

the rate stated in the revised or corrected 

disclosure, as applicable. Comments 4(a)(21)-1 

and -2. 

Otherwise, if rate was known when Financial 

Institution approved the Application, the rate 

applicable when Financial Institution approved the 

Application. Comment 4(a)(21)-2. 

Otherwise, if rate was unknown when Financial 

Institution approved the Application, the fullyindexed rate based on the index applicable when 

the Financial Institution approved the Application. 

Comment 4(a)(21)-3. 

91 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 

If rate was known when Financial Institution 

approved the Application, the rate applicable 

when Financial Institution approved the 

Application. Comment 4(a)(21)-2. 

If rate was unknown when Financial Institution 

approved the Application, the fully-indexed rate 

based on the index applicable when the Financial 

Institution approved the Application. Comment 

4(a)(21)-3. 

Application approved but not accepted for a 

variable-rate Covered Loan not subject to 

Regulation Z’s Loan Estimate and Closing 

Disclosure requirements 

Application denied, withdrawn, or closed for 

incompleteness Not applicable. Comment 4(a)(21)-2. 

Interest rate set forth in Closing Disclosure. If a 

corrected Closing Disclosure was provided to the 

borrower prior to the end of the reporting period in 

which final action was taken, the Financial 

Institution reports the rate stated in the corrected 

disclosure. Comment 4(a)(21)-1. 

Fixed-rate Covered Loan subject to Regulation 

Z’s Loan Estimate and Closing Disclosure 

requirements 

Fixed-rate Covered Loan not subject to 

Regulation Z’s Loan Estimate and Closing 

Disclosure requirements 

Interest rate applicable at loan closing or account 

opening. Comment 4(a)(21)-1. 

Interest rate set forth in Closing Disclosure. If a 

corrected Closing Disclosure was provided to the 

borrower prior to the end of the reporting period in 

which final action was taken, the Financial 

Institution reports the rate stated in the corrected 

disclosure. Comment 4(a)(21)-1. 

Variable-rate Covered Loan subject to Regulation 

Z’s Loan Estimate and Closing Disclosure 

requirements 

Variable-rate Covered Loan not subject to 

Regulation Z’s Loan Estimate and Closing 

Disclosure requirements 

If rate was known when Financial Institution 

closed loan or opened account, rate applicable at 

loan closing or account opening. Comment 

4(a)(21)-1. 
 

 

For an: Report: 

If rate was unknown when Financial Institution 

closed loan or opened account, the fully-indexed 

rate based on the index applicable to the Covered 

Loan at loan closing or account opening. 

Comment 4(a)(21)-3. 

5.25 Introductory rate period 

A Financial Institution reports the introductory rate period in the manner described below 

unless a partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

For a Covered Loan, a Financial Institution reports the introductory rate period as the number 

of months from loan closing or account opening until the first date the interest rate may change. 

12 CFR 1003.4(a)(26). For example, if an Open-End Line of Credit contains an introductory or 

“teaser” interest rate for two months after the date of account opening and the interest rate may 

adjust after that two month period, the Financial Institution reports the number of months as 

“2.” Comment 4(a)(26)-1. For a Covered Loan that includes an introductory interest rate period 

measured in a unit of time other than months, the Financial Institution reports the introductory 

period using an equivalent number of whole months without regard for any remainder. For 

example, if an Open-End Line of Credit contains an introductory interest rate for 50 days after 

the date of account opening, after which the interest rate may adjust, the Financial Institution 

reports the number of months as “1”. A Financial Institution reports “1” for any introductory 

interest rate period that is less than one whole month. Comment 4(a)(26)-5. 

For an Application, a Financial Institution reports the number of months from loan closing or 

account opening until the first date the interest rate could have changed under the proposed 

terms. Comment 4(a)(26)-1. If the period until the first date the interest rate could have 

changed under the proposed terms is measured in a unit of time other than months, the 

Financial Institution reports the introductory period using an equivalent number of whole 

months without regard for any remainder. A Financial Institution reports “1” if the introductory 

interest rate period could have been less than one whole month under the proposed terms. 

Comment 4(a)(26)-5. 

92 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

A Financial Institution reports the number of months based on when the first interest rate 

adjustment may occur, even if an interest rate adjustment is not required to occur at that time 

and even if the rates that will apply, or the periods for which they will apply, are not known at 

loan closing or account opening. For example, if a Closed-End Mortgage Loan has a 30-year 

term and is an adjustable-rate product with an introductory interest rate for the first 60 months, 

after which the interest rate is permitted but not required to vary, the Financial Institution 

reports the number of months as “60.” Comment 4(a)(26)-1. 

A Financial Institution is not required to report introductory interest rate periods based on 

preferred rates unless the terms of the legal obligation provide that the preferred rate will expire 

at a certain defined date. Preferred rates include loan terms that provide that the initial 

underlying rate is fixed but that it may increase or decrease upon the occurrence of some future 

event, such as an employee leaving the employ of the Financial Institution, the borrower closing 

an existing deposit account with the Financial Institution, or the borrower revoking an election 

to make automated payments. Comment 4(a)(26)-2. 

A Financial Institution reports that this data point is not applicable for a fixed-rate Covered 

Loan or an Application for a fixed-rate Covered Loan. Comment 4(a)(26)-3. 

5.26 Rate spread 

A Financial Institution reports the rate spread in the manner described below unless a partial 

exemption applies. If a partial exemption 

applies, see Section 4.3.3. 

For Covered Loans that are subject to 

Regulation Z and for Applications that are 

approved but not accepted, and that are 

subject to Regulation Z (other than 

assumptions, purchased Covered Loans, and 

Reverse Mortgages), a Financial Institution 

reports the difference between the Covered Loan’s annual percentage rate (APR) and a 

comparable transaction’s average prime offer rate (APOR) as of the date the Covered Loan’s 

interest rate was set. 12 CFR 1003.4(a)(12)(i). 

Where an application or a preapproval 

request is an Application under Regulation C, 

but for which no disclosures are required 

under Regulation Z, the Financial Institution 

reports that the data is not applicable. 

93 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

If the Covered Loan is an assumption, Reverse Mortgage, a purchased Covered Loan, or is not 

subject to Regulation Z, the Financial Institution reports that the data point is not applicable. If 

an Application does not result in the Financial Institution originating a Covered Loan for a 

reason other than that the Application was approved but not accepted by the applicant, the 

Financial Institution reports that the data point is not applicable. Comment 4(a)(12)-7. 

The APOR is an APR that is derived from average interest rates and other loan pricing terms 

offered to borrowers by a set of creditors for mortgage loans that have low-risk pricing 

characteristics. 12 CFR 1003.4(a)(12)(ii). The Bureau publishes tables of current and historical 

APORs by transaction type on the FFIEC’s website at http://www.ffiec.gov/hmda and on the 

Bureau’s website at http://www.consumerfinance.gov. The methodology used to arrive at these 

APORs is also published on these websites. A Financial Institution may either use the APORs 

published on these websites or determine APORs itself by employing the methodology published 

on these websites. A Financial Institution that determines APORs itself, however, is responsible 

for correctly determining them in accordance with the published methodology. Comments 

4(a)(12)-1 and -2. 

To determine the reportable rate spread, a Financial Institution can follow these steps: 

1. Determine the Covered Loan’s or approved but not accepted Application’s APR 

A Financial Institution may rely on the APR disclosed for the Covered Loan, if it is calculated 

and disclosed pursuant to Regulation Z (12 CFR 1026.18 or 1026.38 for a Closed-End 

Mortgage Loan or 12 CFR 1026.6 for an Open-End Line of Credit). If multiple APRs are 

calculated and disclosed pursuant to 12 CFR 1026.6, a Financial Institution relies on the 

APR in effect at the time of account opening. If an Open-End Line of Credit has a variablerate feature and a fixed-rate feature during the draw period, a Financial Institution relies on 

the APR in effect at the time of account opening for the variable-rate feature. This rate for 

the variable-rate feature would be a discounted initial rate if one is offered under the 

variable-rate feature. Comment 4(a)(12)-3. 

If the Financial Institution provides a corrected Truth in Lending disclosure, a corrected 

Closing Disclosure, or a corrected open-end account opening disclosure under Regulation Z, 

the Financial Institution relies on the APR disclosed on the corrected disclosure, provided 

that the corrected disclosure was provided to the borrower prior to the end of the reporting 

period in which final action is taken. For this purpose, the date the corrected disclosure is 

provided is the date the disclosure is mailed or delivered to the borrower in person. 

Comment 4(a)(12)-9. 

94 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

For an Application (including a preapproval request) that was approved but not accepted, a 

Financial Institution might have only provided early Regulation Z disclosures, such as a 

Loan Estimate for a Closed-End Mortgage Loan or disclosures at the time of application 

under 12 CFR 1026.40 for an Open-End Line of Credit. In such cases where no subsequent 

disclosures are provided, a Financial Institution may rely on the APR as calculated and 

disclosed in the Loan Estimate or disclosures at the time of the application under 12 CFR 

1026.40, as applicable. Comment 4(a)(12)-8. 

2. Determine the APOR 

a. Determine the Comparable Transaction 

The rate spread is calculated using the APOR for a comparable transaction. Therefore, a 

Financial Institution must determine what transaction is comparable to the Covered 

Loan or approved but not accepted Application. To do so, the Financial Institution uses 

the Covered Loan’s or Application’s amortization type (i.e., fixed-rate or variable-rate) 

and loan term. For Open-End Lines of Credit, a Financial Institution must identify the 

most closely comparable closed-end transaction. Comment 4(a)(12)-4. 

For fixed-rate Covered Loans and Applications, the term for identifying the comparable 

transaction is the transaction’s maturity (i.e., the period until the last payment will be 

due under the Closed-End Mortgage Loan contract or Open-End Line of Credit 

agreement). If an Open-End Line of Credit has a fixed rate but no definite plan length, a 

Financial Institution can use a 30-year fixed-rate loan as the most closely comparable 

closed-end transaction. Financial Institutions may refer to the “Average Prime Offer 

Rates-Fixed” table on the FFIEC website when identifying a comparable fixed-rate 

transaction. Comment 4(a)(12)-4.i. 

For variable-rate Covered Loans and Applications, the term for identifying the 

comparable transaction is the initial, fixed-rate period (i.e., the period until the first 

scheduled rate adjustment). For example, five years is the relevant term for a variablerate transaction with a five-year, fixed-rate introductory period that is amortized over 

thirty years. If an Open-End Line of Credit has a variable rate and an optional, fixed-rate 

feature, a Financial Institution uses the rate table for variable-rate transactions. 

Comment 4(a)(12)-4.ii. 

When the term to maturity (or, for a variable-rate transaction, the initial fixed-rate 

period) is not in whole years, the Financial Institution uses the number of whole years 

95 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
closest to the actual loan term (or the initial fixed-rate period). If the actual loan term 

(or the initial fixed-rate period) is exactly halfway between two whole years, the 

Financial Institution uses the shorter loan term. The Financial Institution rounds a term 

shorter than six months to one year, including a term for a variable-rate Covered Loan 

with no initial, fixed-rate period. Comment 4(a)(12)-4.iii. 

Term to Maturity or Initial Fixed-Rate Period Term for Comparable Transaction 

10 years, 3 months 10 years 

10 years, 9 months 11 years 

10 years, 6 months 10 years 

10 years, 6 months, 18 days 11 years 

3 months 1 year 

If the amortization period is longer than the transaction’s term to maturity (or for an 

approved but not accepted Application would have been longer than the transaction’s 

term to maturity), a Financial Institution must use the term to maturity to determine the 

applicable APOR. Comment 4(a)(12)-4.iv. 

b. Determine the Rate Set Date 

The date used to determine the APOR for a comparable transaction is the date on which 

the Financial Institution set the interest rate for the final time before final action is 

taken. Comment 4(a)(12)-5. 

If the: The date used for APOR is the: 

Rate was set pursuant to a lock agreement Date that the agreement fixed the interest rate 

96 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Lock agreement was extended, but the rate was 

not re-set 

Date the Financial Institution exercised its 

discretion in setting the rate for final time before 

final action is taken 

Rate was re-set after the lock agreement was 

executed, and there was no program change 

Date that the Financial Institution exercised its 

discretion in setting the rate for final time before 

final action is taken 

Date of the program change, unless the Financial 

Institution changed the promised rate to the rate 

that would have been available to the borrower 

under the new program on the date of the original 

rate-lock, and the Financial Institution consistently 

follows that practice or the original lock 

agreement required that the new program’s rate 

as of the original rate-lock would be available. In 

that case, the date of the original rate-lock. 

Rate was re-set after the lock agreement was 

executed, and there was a program change 

Applicant or borrower did not execute a lock 

agreement 

Date on which the Financial Institution set the rate 

for final time before final action is taken 

Example: Borrower locks a rate of 2.5 percent on June 1 for a 30-year, variable-rate loan with a 

5-year, fixed-rate introductory period. On June 15, the borrower decides to switch to a 30-year, 

fixed-rate loan, and the rate available to the borrower for that product on June 15 is 4.0 percent. 

On June 1, the 30-year, fixed-rate loan would have been available to the borrower at a rate of 3.5 

percent. Ficus Bank offers the borrower the 3.5 percent rate (i.e., the rate that would have been 

available to the borrower for the fixed-rate product on June 1, the date of the original rate-lock) 

because the original agreement so provided or because Ficus Bank consistently follows that 

practice for borrowers who change loan programs. Ficus Bank should use June 1 as the rate-set 

date. 

If a Financial Institution received an Application from a broker and is responsible for 

reporting the approved but not accepted Application or resulting Covered Loan, (e.g., 

because the Financial Institution originated the loan), the rate-set date is the last date the 

Financial Institution set the rate with the broker, not the date the broker set the 

borrower’s rate. Comment 4(a)(12)-5. 

97 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
c. Determine the Most Recently Available APOR as of Rate Set Date 

A Financial Institution must compare the APR determined in Step 1 to the most recently 

available APOR that was in effect for the comparable transaction as of the rate-set date. 

The most recently available rate means the APOR set forth in the applicable table with 

the most recent effective date as of the date the interest rate was set. A Financial 

Institution cannot use an APOR before its effective date. Comment 4(a)(12)-6. 

3. Determine the Rate Spread 

A Financial Institution compares the APOR determined in step 2c, above, to the APR 

determined in step 1 above. Comment 4(a)(12)-6. 

5.27 Non-amortizing features 

A Financial Institution reports non-amortizing features in the manner described below unless a 

partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

A Financial Institution reports whether the contractual terms include or would have included: 

(1) a balloon payment; (2) interest-only payments; (3) negative amortization; or (4) contractual 

terms, other than those listed above, that would allow for payments other than fully amortizing 

payments. 12 CFR 1003.4(a)(27). The HMDA Rule defines the terms balloon payment, interestonly payments, negative amortization, and fully amortizing payments by reference to Regulation 

Z, but without regard to whether the Covered Loan is subject to Regulation Z. Comment 

4(a)(27). See 12 CFR 1026.18(s)(5)(i) for the definition of balloon payment, 12 CFR 

1026.18(s)(7)(iv) for the definition of interest-only payments, and 12 CFR 1026.18(s)(7)(v) for 

information on when a contractual term would include negative amortization. 

98 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Example: Ficus Bank originates a business-purpose transaction that is exempt from 

Regulation Z. The borrower, a corporation, uses the loan proceeds to finance the purchase 

of a Multifamily Dwelling. The loan is secured by a mortgage on the Multifamily Dwelling. 

The loan includes a balloon payment, as defined by Regulation Z, 12 CFR 1026.18(s)(5)(i), 

at the end of the loan term. Even though the borrower is not a natural person, the loan is 

for a business purpose, and a Multifamily Dwelling is not a “dwelling” under Regulation Z, 

Ficus Bank reports the business-purpose transaction as having a balloon payment. 

5.28 Data points for certain loans subject to 

Regulation Z 

5.28.1 Total loan costs or total points and fees 

A Financial Institution reports the total loan costs or total points and fees in the manner 

described below unless a partial exemption applies. If a partial exemption applies, see Section 

4.3.3. 

For Covered Loans subject to the Ability-to-Repay provisions of Regulation Z, 12 CFR 1026.43, a 

Financial Institution reports the following: 

1.	 The amount of total loan costs as disclosed, pursuant to Regulation Z, on Line D 

of the Closing Cost Details page of the Closing Disclosure. The Financial Institution 

reports the total loan costs if a Closing Disclosure was provided for the Covered Loan. 

12 CFR 1003.4(a)(17)(i). 

Financial Institutions report that this data point is not applicable for transactions that are 

not subject to the Ability-to-Repay provisions of Regulation Z, such as Open-End Lines of 

Credit, Reverse Mortgages, and Covered Loans made primarily for business or commercial 

purposes. Comment 4(a)(17)(i)-1. For transactions subject to the Ability-to-Repay 

provisions of Regulation Z for which a Closing Disclosure was not provided, Financial 

Institutions report that this data point is not applicable. 12 CFR 1003.4(a)(17). Financial 

Institutions also report that this data point is not applicable for purchased Covered Loans for 

99 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

which Applications were received by the selling entity prior to October 3, 2015. Comment 

4(a)(17)(i)-2. 

2.	 The total points and fees charged in connection with the Covered Loan, 

calculated pursuant to Regulation Z. The Financial Institution reports the total points 

and fees if the Covered Loan is not subject to Regulation Z’s Closing Disclosure requirements 

and is not a purchased Covered Loan. 12 CFR 1003.4(a)(17)(ii). 

Financial Institutions report that this data point is not applicable for transactions that are 

not subject to the Ability-to-Repay provisions of Regulation Z, such as Open-End Lines of 

Credit, Reverse Mortgages, and Covered Loans made primarily for business or commercial 

purposes. Comment 4(a)(17)(ii)-1. For transactions subject to the Ability-to-Repay 

provisions of Regulation Z for which a Closing Disclosure was provided, Financial 

Institutions report that this data point is not applicable. 12 CFR 1003.4(a)(17). Financial 

Institutions also report that this data point is not applicable for purchased Covered Loans. 

Comment 4(a)(17)(ii)-1. 

For Covered Loans subject to the total loan cost reporting requirement, if the amount of total 

loan costs changes because a Financial Institution provides a corrected Closing Disclosure, the 

Financial Institution reports the amount disclosed in the corrected Closing Disclosure if the 

corrected Closing Disclosure was provided to the borrower prior to the end of the reporting 

period in which loan closing occurred. For this purpose, the date the corrected Closing 

Disclosure was provided to the borrower is the date disclosed as the “Date Issued” on the 

corrected Closing Disclosure. Comment 4(a)(17)(i)-3. 

For Covered Loans subject to the total points and fees reporting requirement, if a Financial 

Institution determines that the transaction’s total points and fees exceeded the applicable limit 

and cures the overage pursuant to Regulation Z during the same reporting period in which 

closing occurred, the Financial Institution reports the revised amount of total points and fees. 

Comment 4(a)(17)(ii)-2. 

Example: Ficus Bank is required to submit HMDA data quarterly. It closes a 

Covered Loan on January 2, 2020, and cures an overage pursuant to Regulation Z on 

January 9, 2020. Ficus Bank reports the revised amount of total points and fees in 

both its quarterly LAR submitted for first quarter data by May 30, 2020 and its annual 

LAR submitted in 2021 for 2020 data. 

100 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

5.28.2 Total borrower-paid origination charges 

A Financial Institution reports the total borrower-paid origination charges in the manner 

described below unless a partial exemption applies. If a partial exemption applies, see Section 

4.3.3. 

For Covered Loans subject to the Closing Disclosure requirements of Regulation Z, 12 CFR 

1026.19(f), the Financial Institution reports the total of all itemized origination charges that are 

designated borrower-paid at or before closing. 12 CFR 1003.4(a)(18). This total is disclosed on 

Line A of the Closing Cost Details page of the Closing Disclosure. 

For all other transactions, the Financial Institution reports that the data point is not applicable. 

A Financial Institution reports that the data point does not apply for purchased Covered Loans 

for which Applications were received by the seller prior to the effective date of the Closing 

Disclosure requirements of Regulation Z. Comments 4(a)(18)-1 and -2. 

If the total amount of borrower-paid origination charges changes because a Financial Institution 

provides a corrected Closing Disclosure pursuant to Regulation Z prior to the end of the 

reporting period in which the loan closing occurred, the Financial Institution reports the 

amount disclosed in the corrected Closing Disclosure. For this purpose, the date the corrected 

Closing Disclosure was provided to the borrower is the date disclosed as the “Date Issued” on 

the corrected Closing Disclosure. Comment 4(a)(18)-3. 

5.28.3 Total discount points 

A Financial Institution reports the total discount points in the manner described below unless a 

partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

For Covered Loans subject to the Closing Disclosure requirements of Regulation Z, 12 CFR 

1026.19(f), a Financial Institution reports the points paid to the creditor to reduce the interest 

rate. 12 CFR 1003.4(a)(19). This total is disclosed on Line A.01 of the Closing Cost Details page 

of the Closing Disclosure. 

For all other transactions, a Financial Institution reports that the data point is not applicable. 

101 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

A Financial Institution reports that the data point does not apply for purchased Covered Loans 

for which an Application was received by the seller prior to the effective date of the Closing 

Disclosure requirements of Regulation Z. Comments 4(a)(19)-1 and -2. 

If the total discount points change because a Financial Institution provides a corrected Closing 

Disclosure pursuant to Regulation Z prior to the end of the reporting period in which the loan 

closing occurred, the Financial Institution reports the amount disclosed in the corrected Closing 

Disclosure. For this purpose, the date the corrected Closing Disclosure was provided to the 

borrower is the date disclosed as the “Date Issued” on the corrected Closing Disclosure. 

Comment 4(a)(19)-3. 

5.28.4 Lender credits 

A Financial Institution reports lender credits in the manner described below unless a partial 

exemption applies. If a partial exemption applies, see Section 4.3.3. 

For Covered Loans subject to the Closing Disclosure requirements of Regulation Z, 12 CFR 

1026.19(f), the Financial Institution reports the amount of lender credits. 

12 CFR 1003.4(a)(20). This total is disclosed in the second row under Line J on the Closing Cost 

Details page of the Closing Disclosure. For all other transactions, the Financial Institution 

reports that the data point is not applicable. 

A Financial Institution reports that the data point does not apply for purchased Covered Loans 

for which an Application was received by the seller prior to the effective date of the Closing 

Disclosure requirements of Regulation Z. Comments 4(a)(20)-1 and -2. 

If the amount of the lender credits changes because a Financial Institution provides a corrected 

Closing Disclosure pursuant to Regulation Z prior to the end of the reporting period in which the 

loan closing occurred, the Financial Institution reports the amount disclosed in the corrected 

Closing Disclosure. For this purpose, the date the corrected Closing Disclosure was provided to 

the borrower is the date disclosed as the “Date Issued” on the corrected Closing Disclosure. 

Comment 4(a)(20)-3. 

5.28.5 Prepayment penalty term 

A Financial Institution reports the prepayment penalty term in the manner described below 

unless a partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

102 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

For Covered Loans and Applications subject to Regulation Z, other than Reverse Mortgages or 

purchased Covered Loans, a Financial Institution reports the term of any prepayment penalty. 

The term is reported in months. 12 CFR 1003.4(a)(22). A Financial Institution may rely on the 

definitions and official commentary to Regulation Z, 12 CFR 1026.32(b)(6)(i) or (ii), in 

determining whether a Covered Loan includes a prepayment penalty. 

For Covered Loans that are not subject to Regulation Z, Reverse Mortgages, purchased Covered 

Loans, and Covered Loans or Applications that have no prepayment penalty, the Financial 

Institution reports that this data point is not applicable. 

5.28.6 HOEPA status 

For a Covered Loan that is subject to the Home Ownership and Equity Protection Act of 1994 

(HOEPA), as implemented in Regulation Z, 12 CFR 1026.32, the Financial Institution reports 

whether or not the Covered Loan is a high-cost mortgage under Regulation Z. 

12 CFR 1003.4(a)(13). Generally, a Financial Institution will report whether or not a consumer 

credit transaction subject to Regulation Z and secured by a principal dwelling (as that term is 

interpreted under Regulation Z) is a high-cost mortgage. See 12 CFR 1026.32(a) and its official 

commentary to determine whether a Covered Loan is subject to HOEPA and whether or not it is 

a high-cost mortgage under Regulation Z. For an Application or a Covered Loan that is not 

subject to HOEPA, the Financial Institution reports that this data point is not applicable. 

Comment 4(a)(13). 

5.29 Transaction indicators 

A Financial Institution reports the transaction indicators in the manner described below unless 

a partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

A Financial Institution separately reports whether or not a Covered Loan is or an Application is 

for: 

103 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

1. A Reverse Mortgage.20 12 CFR 1003.4(a)(36); 

2. An Open-End Line of Credit.21 12 CFR 1003.4(a)(37); and 

3. A loan made primarily for a business or commercial purpose.22 12 CFR 1003.4(a)(38). 

5.30 Mortgage loan originator identifier 

A Financial Institution reports the mortgage loan originator identifier in the manner described 

below unless a partial exemption applies. If a partial exemption applies, see Section 4.3.3. 

A Financial Institution reports the Nationwide Mortgage Licensing System and Registry 

identifier (NMLSR ID) for the mortgage loan originator, as defined in Regulation G, 12 CFR Part 

1007, or Regulation H, 12 CFR Part 1008, as applicable. 12 CFR 1003.4(a)(34). The NMLSR ID 

is a unique number or other identifier generally assigned to an individual registered or licensed 

through NMLSR to provide loan originating services. For more information, see the Secure and 

Fair Enforcement for Mortgage Licensing Act of 2008, title V of the Housing and Economic 

Recovery Act of 2008, 12 U.S.C. 5101 et seq., and Regulation G or Regulation H, as applicable. 

Comment 4(a)(34)-1. 

An NMLSR ID for the mortgage loan originator is not required to be reported if the mortgage 

loan originator is not required to obtain and has not been assigned an NMLSR ID. In those 

cases, the Financial Institution reports that this data point is not applicable. For example, 

certain individual mortgage loan originators may not be required to obtain an NMLSR ID for the 

20 A Reverse Mortgage is a Closed-End Mortgage Loan or Open-End Line of Credit that is a reverse mortgage 

transaction as defined in Regulation Z, but without regard to whether the loan or line is secured by a principal 

dwelling. 12 CFR 1003.2(q). 

21 For more information on whether a Covered Loan is or an Application is for an Open-End Line of Credit, see 

Section 4.1.1. 

22 If a Covered Loan or Application is deemed to be primarily for a business or commercial purpose under Regulation 

Z, 12 CFR 1026.3(a) and its official commentary, it is also deemed to be for a business or commercial purpose under 

the HMDA Rule. 

104 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

particular transaction being reported, such as a commercial loan, and may not have an NMLSR 

ID. 

Some mortgage loan originators may have obtained an NMLSR ID even if they are not required 

to obtain one for the particular transaction. Generally, if a mortgage loan originator has been 

assigned an NMLSR ID, a Financial Institution reports the mortgage loan originator’s NMLSR 

ID regardless of whether the mortgage loan originator is required to obtain an NMLSR ID for 

the particular transaction being reported. Comment 4(a)(34)-2. However, there are special 

rules for certain purchased Covered Loans. If a Financial Institution purchases a Covered Loan 

that is subject to 12 CFR 1026.36(g) and that was originated prior to January 10, 2014, the 

Financial Institution may report that the data point is not applicable or may report the NMLSR 

ID. If a Financial Institution purchases a Covered Loan that is not subject to 12 CFR 1026.36(g) 

and that was originated prior to January 1, 2018, the Financial Institution may report that the 

data point is not applicable or may report the NMLSR ID. 

If more than one individual associated with a Covered Loan or Application meets the definition 

of “mortgage loan originator,” as defined in Regulation G or Regulation H, a Financial 

Institution reports the NMLSR ID of the individual mortgage loan originator with primary 

responsibility for the transaction as of the date of action taken. A Financial Institution that 

establishes and follows a reasonable, written policy for determining which individual mortgage 

loan originator has primary responsibility for the reported transaction as of the date of action 

taken complies with this reporting requirement. Comment 4(a)(34)-3. 

5.31 Type of purchaser 

A Financial Institution reports the type of purchaser for a Covered Loan if the Financial 

Institution: (a) originated the Covered Loan it is reporting and sold it within the same calendar 

year; or (b) purchased the Covered Loan it is reporting and then sold it within the same calendar 

year. 12 CFR 1003.4(a)(11). When reporting the type of purchaser, a Financial Institution 

reports the type of entity that purchased the Covered Loan from the Financial Institution, using 

one of the following: 

1. Fannie Mae. 

2. Ginnie Mae. 

105 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

3. Freddie Mac. 

4. Farmer Mac. 

5. Private securitizer, which is an entity (other than one of the government-sponsored 

enterprises listed in 1 through 4 immediately above) that the Financial Institution knows or 

reasonably believes will securitize the Covered Loan. Knowledge or reasonable belief could, for 

example, be based on the purchase agreement or other related documents, the Financial 

Institution’s previous transactions with the purchaser, or the purchaser’s role as a securitizer 

(such as an investment bank). If the Financial Institution selling the Covered Loan does not 

know or reasonably believe that the purchaser will securitize the loan, and the seller knows that 

the purchaser frequently holds or disposes of loans by means other than securitization, then the 

Financial Institution reports the Covered Loan as purchased by, as appropriate, one of the other 

types of purchasers. Comment 4(a)(11)-4. 

If the purchaser meets the criteria to be a private securitizer and fits within one of the other 

reportable categories in 6 through 10 below (including affiliate institution), the Financial 

Institution reports that the purchaser is a private securitizer. Comment 4(a)(11)-4. 

6. Affiliate institution, which means a company that controls, is controlled by, or is under 

common control with the Financial Institution. The term has the meaning set forth in the Bank 

Holding Company Act of 1956, 12 U.S.C. 1841 et seq. If a purchaser meets the criteria to be an 

affiliate institution and also fits within one of the other reportable types of purchaser in 7 

through 10 below (but not private securitizer above), the Financial Institution reports that the 

purchaser is an affiliate institution. Comment 4(a)(11)-3. 

7. Commercial bank, savings bank, or savings association. 

8. Credit union, mortgage company, or finance company. A mortgage company is a 

nondepository institution that purchases Covered Loans and, typically, originates Covered 

Loans. Comment 4(a)(11)-5. 

9. Life insurance company. 

10. Other, which is a purchaser that is not any of the above. A Financial Institution would report 

the purchaser type of “other” if the purchaser was a bank holding company or thrift holding 

company that is not a private securitizer and is not an affiliate of the Financial Institution. 

Comment 4(a)(11)-7. 

106 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

If a Financial Institution sells some interest or interests in a Covered Loan but retains a majority 

interest in that Covered Loan, the Financial Institution does not report the sale or type of 

purchaser (i.e., it reports that this data point is not applicable). Comment 4(a)(11)-1. 

If a Financial Institution sells all or a majority interest in the Covered Loan to more than one 

entity, the Financial Institution reports the type of purchaser based on the entity purchasing the 

greatest interest in the Covered Loan. Comment 4(a)(11)-1. 

Covered Loans “swapped” for mortgage-backed securities are to be treated as sales, and the 

purchaser is the entity receiving the Covered Loans that are swapped. Comment 4(a)(11)-2. 

A Financial Institution reports that this data point is not applicable: 

1. If a Financial Institution sells some interest or interests in a Covered Loan but retains a 

majority interest in the loan; 

2. For an Application that is denied, withdrawn, closed for incompleteness, or approved but 

not accepted; or 

3. For a Covered Loan that the Financial Institution does not sell during the same calendar 

year that it originated or purchased the Covered Loan. Comments 4(a)(11)-1 and -10. 

A Financial Institution records that the requirement to report type of purchaser is not applicable 

if the Financial Institution originated or purchased a Covered Loan and did not sell it during the 

calendar quarter for which the Financial Institution is recording the data. If the Financial 

Institution sells the Covered Loan in a subsequent quarter of the same calendar year, the 

Financial Institution records the type of purchaser on its LAR for the quarter in which the 

Covered Loan was sold. If a Financial Institution sells the Covered Loan in a succeeding year, 

the Financial Institution should not record or report the sale. Comment 4(a)(11)-9. 

107 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

6. Recording and reporting 

6.1 Recording 

The HMDA Rule requires a Financial Institution to record the data about a Covered Loan or 

Application on a LAR within 30 calendar days after the end of the calendar quarter in which the 

Financial Institution takes final action on the Application or Covered Loan. 12 CFR 1003.4(f). A 

Financial Institution is not required to record all of its HMDA data for a quarter on a single 

LAR. Rather, a Financial Institution may record data on a single LAR or may record data on one 

or more LARs for different branches or different loan types (such as Home Purchase Loans or 

Home Improvement Loans, or loans on Multifamily Dwellings). Comment 4(f)-1. 

Other State or Federal regulations may require a Financial Institution to record its data on a 

LAR more frequently. Comment 4(f)-2. 

Financial Institutions may maintain their quarterly records in electronic or any other format, 

provided they can make the information available to their regulatory agencies in a timely 

manner upon request. Comment 4(f)-3. 

6.2 Reporting 

In addition to the required data discussed in Section 5, above, effective January 1, 2019, a 

Financial Institution must include the following when it submits its HMDA data: 

1. Its name; 

2. The calendar year and, effective January 1, 2020, if applicable, the calendar quarter to which 

the data relate (see Section 6.2.2 for information on quarterly reporting); 

108 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

3. The name and contact information for a person who can be contacted with questions about 

the submission; 

4. The Financial Institution’s appropriate Federal agency; 

5. The total number of entries in the submission; 

6. The Financial Institution’s Federal Taxpayer Identification Number (TIN); and 

7. The Financial Institution’s LEI. 12 CFR 1003.5(a)(3). 

If the appropriate Federal agency for a Financial Institution changes, the Financial Institution 

must identify its new appropriate Federal agency in its annual submission for the year of the 

change. Comment 5(a)-2. For example, if a Financial Institution’s appropriate Federal agency 

changes in February 2018, it must identify its new appropriate Federal agency beginning with its 

annual submission of 2018 data by March 1, 2019. For a Financial Institution required to 

comply with quarterly reporting requirements (see Section 6.2.2), the Financial Institution also 

must identify its new appropriate Federal agency in its quarterly submission beginning with its 

submission for the quarter of the change, unless the change occurs during the fourth quarter. 

For example, if the appropriate Federal agency for a Financial Institution changes during 

February 2020, the Financial Institution must identify its new appropriate Federal agency 

beginning with its quarterly submission for the first quarter of 2020. Comment 5(a)-2. 

If a Financial Institution obtains a new TIN, it must provide the new TIN in its subsequent data 

submissions. For example, if two Financial Institutions that previously reported HMDA data 

merge and the surviving Financial Institution retained its LEI but obtained a new TIN, the 

surviving Financial Institution reports the new TIN beginning with its next HMDA data 

submission. Comment 5(a)-5. 

A Financial Institution that is a subsidiary of a bank or savings association must complete its 

own LAR and submit it, directly or through its parent, to the appropriate Federal agency for the 

subsidiary’s parent. 12 CFR 1003.5(a)(2). A Financial Institution is a subsidiary of a bank or 

savings association (for purposes of reporting HMDA data to the same agency as the parent) if 

the bank or savings association holds or controls an ownership interest in the Financial 

Institution that is greater than 50 percent. Comment 5(a)-6. 

109 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

6.2.1 Annual reporting 

The HMDA Rule maintains the annual reporting requirement, but requires Financial 

Institutions to submit data electronically in accordance with the procedures published by the 

Bureau and posted at http://www.consumerfinance.gov/hmda. 12 CFR 1003.5(a)(5). 

Under the HMDA Rule, a Financial Institution must submit its annual LAR in electronic format 

to its appropriate Federal agency by March 1 of the year following the calendar year for which 

data are collected. Appendix A to Part 1003 (through December 31, 2018); 

12 CFR 1003.5(a)(1)(i) (after December 31, 2018). An individual who is an authorized 

representative of the Financial Institution and who has knowledge regarding the submitted data 

must certify its accuracy and completeness. Appendix A to Part 1003 (through December 31, 

2018); 12 CFR 1003.5(a)(1)(i) (after December 31, 2018). 

A Financial Institution must retain a copy of its submitted annual LAR for at least three years. 

12 CFR 1003.5(a)(1)(i). Financial Institutions may retain their annual LARs in either paper or 

electronic form. Comment 5(a)-4. 

For more information on reporting under the HMDA Rule or on the electronic submission of 

data, please see http://www.consumerfinance.gov/hmda. 

6.2.2 Quarterly reporting 

The HMDA Rule requires some Financial Institutions to report data on a quarterly basis as well 

as on an annual basis. The quarterly reporting requirement is effective January 1, 2020. It 

applies to a Financial Institution that reported at least 60,000 originated Covered Loans and 

Applications (combined) for the preceding calendar year. The Financial Institution does not 

count purchased Covered Loans when determining whether the quarterly reporting requirement 

applies. If quarterly reporting is required, the Financial Institution must report all data 

required to be recorded for the calendar quarter within 60 calendar days after the end of the 

calendar quarter. The quarterly reporting requirement does not apply, however, to the fourth 

quarter of the year. A Financial Institution subject to the quarterly reporting requirement 

reports its fourth quarter data as part of its annual submission. In its annual submission, a 

quarterly reporter will resubmit the data previously submitted for the first three calendar 

quarters of the year, including any corrections to the data, as well as its fourth quarter data. 

12 CFR 1003.5(a)(ii). 

110 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

6.3 Disclosure of data 

6.3.1 Disclosure statement 

Effective January 1, 2018, the HMDA Rule changes Regulation C’s disclosure statement 

requirements. The changes apply to data collected in 2017 and later years. Under the HMDA 

Rule, the FFIEC shall provide a notice to the Financial Institution that the Financial Institution’s 

disclosure statement (based on data submitted for the prior calendar year) is available. 

12 CFR 1003.5(b)(1). No later than three business days (any calendar day other than a Saturday, 

Sunday, or legal public holiday) after receiving notice from the FFIEC, the Financial Institution 

must make available to the public, upon request, a written notice that clearly conveys that the 

Financial Institution’s disclosure statement may be obtained on the Bureau’s website at . 

12 CFR 1003.5(b)(2); comment 5(b)-1. A Financial Institution may, but is not required to, use 

the sample notice in Attachment C to satisfy the HMDA Rule’s disclosure statement 

requirement. The notice may be made available in paper or electronic form. Comment 5(b)-2. 

A Financial Institution must make the notice available to the public for a period of five years. 

12 CFR 1003.5(d)(1). 

At its discretion, a Financial Institution may also provide its disclosure statement and impose a 

reasonable fee for costs incurred reproducing or providing the statement. 12 CFR 1003.5(d)(2). 

Even if it provides the disclosure statement, a Financial Institution must comply with the notice 

requirement. 

6.3.2 Modified LAR 

Effective January 1, 2018, the HMDA Rule changes a Financial Institution’s obligations with 

respect to disclosing its modified LAR. The new requirements apply to data collected in 2017 

and later years. 

Beginning in 2018, upon request from a member of the public, a Financial Institution must 

provide a written notice regarding the availability of its modified LAR. The written notice must 

clearly convey that the Financial Institution’s LAR, as modified by the Bureau to protect 

borrower and applicant privacy, may be obtained on the Bureau’s website at 

http://www.consumerfinance.gov/hmda. 12 CFR 1003.5(c). 

111 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

A Financial Institution may, but is not required to, use the sample notice in Attachment C to 

satisfy the HMDA Rule’s modified LAR requirement. Comment 5(c)-2. A Financial Institution 

may, but is not required to, use the same notice for purposes of this disclosure requirement and 

the disclosure statement requirement discussed in Section 6.3.1. The notice may be made 

available in paper or electronic form. Comment 5(c)-1. 

The notice must be made available in the calendar year following the calendar year for which the 

Financial Institution collected data. The notice must be made available for three years. 

12 CFR 1003.5(d)(1). For example, in calendar year 2021, a Financial Institution must make 

available a notice that its modified LAR is available on the Bureau’s website if it was required to 

collect data in 2018, 2019, or 2020. 

At its discretion, a Financial Institution may also provide its LAR, as modified by the Bureau, 

and impose a reasonable fee for any costs incurred to reproduce or provide the data. 

12 CFR 1003.5(d)(2). Even if it decides to provide the modified LAR, a Financial Institution 

must comply with the notice requirement. 

6.3.3 Posted notices 

The HMDA Rule modifies Regulation C’s posting requirement. Beginning January 1, 2018, a 

Financial Institution must post, in the lobby of its home office and each Branch Office physically 

located in an MSA or MD, a general notice about the availability of its HMDA data on the 

Bureau’s website. 12 CFR 1003.5(e). A Financial Institution may, but is not required to, use the 

sample notice in Attachment C to satisfy this requirement. In any case, the notice must clearly 

convey that the Financial Institution’s HMDA data are available on the Bureau’s website at 

http://www.consumerfinance.gov/hmda. Comment 5(e). 

6.3.4 Aggregated data 

The FFIEC will use the annual data submitted pursuant to the HMDA Rule to make available 

aggregated data for each MSA and MD, showing lending patterns by property location, age of 

housing stock, and income level, sex, ethnicity, and race. 12 CFR 1003.5(f). 

112 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

 

 

7. Enforcement provisions 

A violation of Regulation C, both before and after the effective date of the HMDA Rule, is subject 

to administrative sanctions, including civil money penalties. Compliance can be enforced by the 

Federal Reserve Board, Federal Deposit Insurance Corporation, the Office of the Comptroller of 

Currency, the National Credit Union Administration, HUD, or the Bureau. 

An error in compiling or recording data for a Covered Loan or Application is not a violation of 

HMDA or Regulation C if the error was unintentional and occurred despite maintenance of 

procedures reasonably adapted to avoid such errors. 12 CFR 1003.6(b)(1). However, a Financial 

Institution that obtains the property-location information for Applications and Covered Loans 

from third parties is responsible for ensuring that the information reported is correct. An 

incorrect entry for a census tract number is deemed a bona fide error and is not a violation if the 

Financial Institution maintains procedures reasonably adapted to avoid such an error. 

12 CFR 1003.6(b)(2). Additionally, a census tract error is not a violation of HMDA or 

Regulation C if the Financial Institution obtained the census tract number from a geocoding tool 

on the Bureau’s website. However, a Financial Institution’s failure to provide the correct census 

tract number because the geocoding tool did not provide any census tract number for the 

property address is not excused as a bona fide error. Similarly, the failure to enter the correct 

census tract number because the Financial Institution entered an incorrect property address 

into the geocoding tool is not excused as a bona fide error. Comment 6(b)-2. 

If a Financial Institution makes a good-faith effort to record all data fully and accurately within 

30 calendar days after the end of the calendar quarter as required under the HMDA Rule, but 

some data are inaccurate or incomplete, the inaccuracy or omission is not a violation of HMDA 

or Regulation C if the Financial Institution corrects or completes the data prior to submitting its 

annual LAR. 12 CFR 1003.6(c)(1). 

If a Financial Institution that is required to submit quarterly data makes a good-faith effort to 

report all data fully and accurately within 60 calendar days as required under the HMDA Rule, 

113 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
but some data are inaccurate or incomplete, the inaccuracy or omission is not a violation of 

HMDA or Regulation C if the Financial Institution corrects or completes the data prior to 

submitting its annual LAR. 12 CFR 1003.6(c)(2). 

114 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

8. Mergers and acquisitions 

8.1 Determining coverage 

After a merger or acquisition, the surviving or newly formed institution is subject to Regulation 

C, effective January 1, 2018, if it satisfies the coverage criteria for either a Depository Financial 

Institution or a Nondepository Financial Institution. See Section 3 for more information on 

institutional coverage. When determining whether the institution is covered, the surviving or 

newly formed institution must consider the combined assets, locations, and lending activities of 

the surviving or newly formed entity and the merged or acquired entities or acquired branches. 

Comment 2(g)-3. 

8.2 Reporting responsibility for calendar 

year of merger or acquisition 

The following discusses the applicability of the HMDA Rule during the calendar year of a merger 

or acquisition: 

If two institutions that are not subject to Regulation C merge, but the newly formed or surviving 

institution is subject to Regulation C, no data collection is required for the calendar year of the 

merger. 

When a branch office of an institution that is not subject to Regulation C is acquired by another 

institution that is not subject to Regulation C, and the acquisition results in the acquiring 

institution becoming subject to Regulation C, no data collection is required for the calendar year 

of the acquisition. 

115 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
If an institution that is subject to Regulation C and an institution that is not subject to 

Regulation C merge, and the surviving or newly formed institution is subject to Regulation C, for 

the calendar year of the merger, data collection is required for Covered Loans and Applications 

handled in the offices of the institution that was previously subject to Regulation C. For the 

calendar year of the merger, data collection is optional for Covered Loans and Applications 

handled in offices of the institution that was not previously subject to Regulation C. 

When an institution that is subject to Regulation C acquires a branch office of an institution that 

is not subject to Regulation C, data collection is optional for Covered Loans and Applications 

handled by the acquired branch office for the calendar year of the acquisition. 

If an institution that is subject to Regulation C and an institution that is not subject to 

Regulation C merge and the surviving or newly formed institution is not subject to Regulation C, 

data collection is required for Covered Loans and Applications handled prior to the merger in 

the previously covered institution’s offices. After the merger date, data collection is optional for 

Covered Loans and Applications handled in the offices of the institution that was previously 

covered. 

When an institution that is not subject to Regulation C acquires a Branch Office of an institution 

that is subject to Regulation C but that acquisition does not result in the acquiring institution 

becoming subject to Regulation C, data collection is required for transactions of the acquired 

Branch Office that take place prior to the acquisition. Data collection by the acquired Branch 

Office is optional for transactions taking place in the remainder of the calendar year of the 

acquisition. 

If two or more institutions that are subject to Regulation C merge and the surviving or newly 

formed institution is also subject to Regulation C, data collection is required for the entire 

calendar year of the merger. The surviving or newly formed Financial Institution files either a 

consolidated submission or separate submissions for that calendar year. 

When one institution subject to Regulation C acquires a Branch Office of another covered 

institution, data collection is required for the entire calendar year of the merger. Data for the 

acquired Branch Office may be submitted by either Financial Institution. Comment 2(g)-4. 

116 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
8.3 Changes to appropriate Federal agency 

or TIN 

Under the HMDA Rule, if the appropriate Federal agency for a Financial Institution changes, 

the Financial Institution must identify its new appropriate Federal agency in its annual 

submission for the year of the change. For example, if a Financial Institution’s appropriate 

Federal agency changes in February 2019, it must identify its new appropriate Federal agency 

beginning with the annual submission of its 2019 data by March 1, 2020. For a Financial 

Institution required to comply with quarterly reporting requirements, the Financial Institution 

also must identify its new appropriate Federal agency in its quarterly submissions, beginning 

with its submission for the quarter of the change, unless the change occurs during the fourth 

quarter. Comment 5(a)-2. For example, if the appropriate Federal agency for a Financial 

Institution changes during February 2020, the Financial Institution must identify its new 

appropriate Federal agency beginning with its quarterly submission for the first quarter of 2020. 

If a Financial Institution obtains a new TIN, it should provide the new number in its subsequent 

data submission. For example, if two Financial Institutions that previously reported HMDA 

data merge and the surviving Financial Institution retained its LEI but obtained a new TIN, then 

the surviving Financial Institution should report the new TIN with its next HMDA data 

submission. Comment 5(a)-5. 

8.4 Determining quarterly reporting 

coverage 

In the calendar year of a merger, the HMDA Rule requires a surviving or newly formed Financial 

Institution to report quarterly, beginning with the first quarterly submission due date after the 

date of the merger, if when added together the surviving or newly formed Financial Institution 

and all Financial Institutions that merged reported at least 60,000 originated Covered Loans 

and Applications for the preceding calendar year. Similarly, in the calendar year of an 

acquisition, the surviving Financial Institution is required to report quarterly, beginning with 

the first quarterly submission due date after the date of the acquisition, if when added together 

the surviving Financial Institution and the acquired Financial Institution(s) or Branch Office(s) 

reported at least 60,000 originated Covered Loans and Applications for the preceding calendar 

117 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
year. If a Financial Institution acquires one or more Branch Offices of another Financial 

Institution but does not acquire the Financial Institution, it is required to count only the 

originated Covered Loans and Applications for the Branch Offices(s) that it acquired. Comment 

5(a)-1.ii. 

In the calendar year following a merger or acquisition, the surviving or newly formed Financial 

Institution is required to comply with the quarterly reporting requirements if a combined total 

of at least 60,000 originated Covered Loans and Applications is reported for the preceding 

calendar year by or for the surviving or newly formed Financial Institution and each Financial 

Institution or Branch Office that merged or was acquired. Comment 5(a)-1.iii. 

8.5 Applicability of partial exemptions under 

the 2018 Act after a merger or 

acquisition 

Effective January 1, 2020, following a merger or acquisition, the surviving or newly formed 

Financial Institution is eligible for partial exemptions if the combined lending activity of the 

surviving or newly formed Financial Institution and the merged or acquired institutions or 

acquired branches fall below the threshold under § 1003.3(d)(2) or (3). Comment 3(d)-1. 

Following a merger or acquisition, the surviving or newly formed Financial Institution is not 

eligible for partial exemptions if either it or any of the institutions it acquired or with which it 

merged received a rating of “needs to improve record of meeting community credit needs” 

during each of its two most recent CRA examinations or a rating of “substantial noncompliance 

meeting community credit needs on its most recent CRA examination.” Comment 3(d)-2. 

The scenarios below discuss the application of partial exemptions under the HMDA Rule during 

the calendar year of a merger or acquisition. The scenarios refer to the partial exemptions for 

closed-end mortgage loans under § 1003.3(d)(2), but the same principles apply to the partial 

exemptions with respect to open-end lines of credit under § 1003.3(d)(3). 

If two institutions eligible for the partial exemption for closed-end mortgage loans merge and 

the surviving or newly formed Financial Institution meets all of the requirements for the partial 

118 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

exemption, the partial exemption for closed-end mortgage loans applies for the calendar year of 

the merger. Comment 3(d)-3.i. 

If two institutions eligible for the partial exemption for closed-end mortgage loans merge and 

the surviving or newly formed Financial Institution does not meet the requirements for the 

partial exemption, collection of optional data on closed-end mortgage loans is permitted but not 

required for the calendar year of the merger (even though the merger creates a Financial 

Institution that does not meet the requirements for the partial exemptions for closed-end 

mortgage loans). If a branch office of a Financial Institution that is eligible for the partial 

exemption is acquired by another Financial Institution that is eligible for the partial exemption, 

and the acquisition results in a Financial Institution that is not eligible for the partial exemption, 

collection of optional data for closed-end mortgage loans is permitted but not required for the 

calendar year of the acquisition. Comment 3(d)-3.ii. 

If a Financial Institution that is eligible for the partial exemption for closed-end mortgage loans 

merges with a Financial Institution that is not eligible for the partial exemption and the 

surviving or newly formed Financial Institution is not eligible for the partial exemption, for the 

calendar year of the merger, collection of optional data for closed-end mortgage loans is 

required for covered loans and applications handled in the offices of the merged Financial 

Institution that was previously not eligible for the partial exemption. For the calendar year of 

the merger, collection of optional data for closed-end mortgage loans is permitted but not 

required for covered loans and applications handled in the offices of the merged Financial 

Institution that was previously eligible for the partial exemption. Comment 3(d)-3.iii. 

If a Financial Institution that is not eligible for the partial exemption for closed-end mortgage 

loans acquires a branch office of a Financial Institution that is eligible for the partial exemption, 

for the calendar year of the acquisition, collection of optional data for closed-end mortgage loans 

is permitted but not required for covered loans and applications handled by the acquired branch 

office. Comment 3(d)-3.iii. 

If a Financial Institution that is eligible for the partial exemption for closed-end mortgage loans 

merges with a Financial Institution that is not eligible for the partial exemption and the 

surviving or newly formed Financial Institution is eligible for the partial exemption, for the 

calendar year of the merger, collection of optional data for closed-end mortgage loans is 

required for covered loans and applications handled in the offices prior to the merger of the 

Financial Institution that was previously not eligible for the partial exemption. After the 

merger, collection of optional data for closed-end mortgage loans is permitted but not required 

for covered loans and applications handled in the offices of the institution that was previously 

not eligible for the partial exemption. If a Financial Institution remains eligible for the partial 

119 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

exemption for closed-end mortgage loans after acquiring a branch or office of a Financial 

Institution that is not eligible for the partial exemption, collection of optional data for closedend mortgage loans is required for transactions of the acquired branch office that took place 

prior to the acquisition. Collection of optional data for closed-end mortgage loans by the 

acquired branch office is permitted but not required for transactions taking place in the 

remainder of the calendar year after the acquisition. Comment 3(d)-3.iv. 

120 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

9. Practical implementation 

and compliance 

considerations 

This section of the guide sets forth some general compliance and practical implementation 

considerations related to the HMDA Rule. However, it is not a compliance plan and does not 

include every compliance or implementation issue that an institution may need to consider. 

Each institution will need to determine its obligations under the HMDA Rule and the best way 

for the institution to comply with them. Depending on the institution, compliance could involve 

preparing or changing policies, procedures, and processes. It could also result in changes to the 

institution’s operations and its relationships with third parties, such as vendors. It could involve 

additional staffing and training. 

Institutions should consult with their legal counsel and compliance officers to understand their 

obligations under the HMDA Rule and to prepare and implement compliance plans. 

9.1 Identifying affected institutions, 

products, departments, and staff 

When planning, institutions should first determine if they are likely to be subject to the HMDA 

Rule and, if so, identify their affected products, departments, and staff. The effects on these 

products, departments, and staff may vary greatly depending on the institution’s size, 

organizational structure, and the complexity of its operations and systems. 

121 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
First, an institution should assess whether or not it will be a Financial Institution subject to the 

HMDA Rule. This assessment can be done by reviewing the HMDA Rule’s effective dates and 

criteria for institutional coverage. The loan-volume threshold criterion for Open-End Lines of 

Credit changes from 500 to 100 Open-End Lines of Credit effective January 1, 2022. A bank, 

savings association, credit union, or nondepository institution should review the 2018 changes 

as well as the loan-volume threshold for Open-End Lines of Credit that is effective January 1, 

2022. Financial Institutions that are not insured depository institutions or insured credit 

unions are not eligible for either of the partial exemptions. For more information on which 

institutions are subject to the HMDA Rule, see Section 3 of this guide. An institution can also 

use the HMDA Institutional Coverage Charts to help it determine if it is subject to Regulation C, 

as amended by the HMDA Rule. However, the HMDA Institutional Coverage Charts and this 

guide are not substitutes for the HMDA Rule. For more information on the partial exemptions, 

see Section 4.3. 

Second, a Financial Institution must assess which of its products and services involve Covered 

Loans and reportable activity under the HMDA Rule. For more information on which 

transactions relate to Covered Loans and reportable activity, see Section 4 of this guide. 

It is important to note that the HMDA Rule may not require a Financial Institution to report 

Open-End Lines of Credit. Initially, a Financial Institution is not required to collect or report 

information about Open-End Lines of Credit if it originated fewer than 500 Open-End Lines of 

Credit in either of the preceding two calendar years. Effective January 1, 2022, a Financial 

Institution is not required to collect or report information about Open-End Lines of Credit if it 

originated fewer than 100 Open-End Lines of Credit in either of the preceding two calendar 

years. For more information on Open-End Lines of Credit, Covered Loans, and Excluded 

Transactions, see Section 4.1 of this guide. 

After determining which of its products and services involve transactions that must be reported, 

a Financial Institution can begin to assess which of its departments, systems, and staff will be 

affected. 

Third, the Financial Institution should determine what information it must report and how it 

will collect this information. The information that a Financial Institution must report might 

vary depending on the type of transaction being reported. For example, a Financial Institution 

may not be required to collect and report the same information for a purchased Covered Loan as 

for an originated Covered Loan. It might not be required to report the same information for a 

122 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

business-purpose loan as for a consumer-purpose loan. Additionally, effective May 24, 2018, 

the HMDA Rule does not require certain insured depository institutions and insured credit 

unions to collect, record, or report certain data points if a partial exemption applies to a 

transaction. For more information on the partial exemptions, see Section 4.3. 

After determining what information must be collected and reported for reportable transactions, 

a Financial Institution can refine its assessment regarding which of its systems, departments, 

and staff will be affected by the HMDA Rule. 

9.1.1 Identifying changes to business processes, policies, 

and systems 

The requirements of the HMDA Rule may affect a number of a Financial Institution’s business 

systems, processes, and policies. A review should be conducted of existing business processes, 

policies, and systems that the Financial Institution, its agents, and other business partners use. 

Identifying impacts early will allow the Financial Institution to understand what changes will be 

needed to support ongoing compliance. 

When reviewing its existing processes, policies, and systems, a Financial Institution should 

consider the HMDA Rule’s requirement to submit data electronically beginning in 2018. 

Beginning in 2018, Financial Institutions will not be able to use paper-based submissions for 

HMDA data. The Bureau has created a web-based tool for submission of HMDA data. Financial 

Institutions should become familiar with the new web-based submission tool and be able to use 

it to submit data beginning in 2018. For more information on the web-based submission tool, 

see http://www.consumerfinance.gov/hmda/. 

Financial Institutions may need to revise or develop processes and policies to comply with the 

changes to transactional coverage. For example, a Financial Institution may need to develop 

new processes and policies to comply with the reporting requirements for Open-End Lines of 

Credit. 

9.1.2 Identifying impacts to key service providers or 

business partners 

Financial Institutions should review their arrangements and agreements with third parties 

engaged for services related to mortgage or other support activities. Close coordination and 

123 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
discussion of implementation plans with these vendors and business partners is critical to 

ensure that the services for which they are engaged will continue to support the Financial 

Institution’s business needs and comply with all regulatory and legal obligations. 

Third-party relationships may need to be reviewed and adjusted to satisfy requirements for 

collecting, recording, or reporting required HMDA data, updating compliance and quality 

control systems and processes, and ensuring record management requirements are in place. If 

the Financial Institution seeks the assistance of vendors or business partners, it is responsible 

for understanding the extent of the assistance that they provide. Also, the data collection and 

reporting requirements in the HMDA Rule reinforce the need to assess current integrations 

between the Financial Institution’s technology platforms and those of its third-party providers 

to determine what updates are necessary. 

Software providers, other vendors, and business partners may offer compliance solutions that 

can assist with any necessary changes. Identifying these key partners will depend on the 

Financial Institution’s business model. For example, Financial Institutions may find it helpful 

to coordinate and discuss potential implementation issues with their correspondents, secondary 

market partners, and technology vendors. In some cases, institutions may need to negotiate 

revised or new contracts with these parties, or seek a different set of services. 

The Bureau expects supervised banks and nonbanks to have an effective process for managing 

the risks of service provider relationships. For more information, see CFPB Bulletin 2012-03 at 

http://files.consumerfinance.gov/f/201204_cfpb_bulletin_service-providers.pdf. 

9.2 Implementation and compliance 

management support activities 

9.2.1 Implementation and compliance management 

Financial Institutions should develop implementation plans and follow change management 

procedures to implement the requirements of the HMDA Rule based on an assessment of 

impacts. The plans should be developed in consultation with, or reviewed by, key stakeholders 

such as legal, compliance, and information technology departments. Implementation plans 

124 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

should be proactively and clearly communicated to the Board of Directors and senior 

management. 

Policies, procedures, and process maps may need to be updated to reflect the changes made to 

business processes in response to the requirements of the HMDA Rule. In addition, Financial 

Institutions’ compliance management systems and other risk management supporting activities 

may need to be adjusted to reflect the requirements of the HMDA Rule. 

The HMDA Rule changes the way that HMDA data will be disclosed. These changes will require 

Financial Institutions to provide new notices and post revised notices. They may also affect 

policies and procedures. A Financial Institution may, but is not required to, use the model 

notices in Attachment C. For more information on disclosure requirements, see Section 6.3 of 

this guide. 

The HMDA Rule’s changes regarding the collection and reporting of an applicant’s ethnicity, 

race, and sex will require that Financial Institutions revise their collection forms or Application 

forms. For more information on collecting ethnicity, race, and sex information, see Section 5.1 

of this guide and appendix B to the HMDA Rule. 

When implementing its compliance plan, a Financial Institution should note that many of the 

HMDA Rule’s effective dates are applicable based on when a Financial Institution takes final 

action, not when it received an Application. 

9.2.2 HMDA responsibilities 

A Financial Institution’s management should ensure that procedures and systems exist to collect 

and maintain accurate data for each Covered Loan and Application that the Financial Institution 

is responsible for reporting. The individual(s) assigned responsibility for preparing and 

maintaining the data should understand the regulatory requirements and be provided the 

resources and tools needed to produce complete and accurate data. Appropriate record entries 

for a Covered Loan or Application must be made on a LAR within 30 calendar days after the end 

of the calendar quarter in which the final action occurs (such as origination or purchase of a 

Covered Loan, or denial or withdrawal of an Application). The data must be submitted on time, 

and the institution should respond promptly to any questions that may arise during the 

processing of data submitted. An authorized representative of the Financial Institution with 

125 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

knowledge of the data submitted must certify the accuracy and completeness of the annual data 

submitted. 

9.2.3 Staffing and training 

To ensure that it can meet its obligations under the HMDA Rule, a Financial Institution should 

evaluate current staffing levels and relevancy and adequacy of training provided to employees. 

These employees likely include operations and lending-related staff such as loan officers, 

processors, compliance, and quality-control staff, as well as others who approve, process, or 

monitor mortgage loans. Training may also be required for other individuals that the Financial 

Institution, its agents, or its business partners employ. 

Execution of tasks related to the preparation of reports or records are likely performed by 

compliance personnel of Financial Institutions. For some Financial Institutions, however, the 

data intake and transcribing stage could involve loan officers or processors whose primary 

function is to evaluate or process Applications. For example, loan officers may obtain 

information from applicants and input that information into the reporting system. 

126 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

• Female 

• Male 

• 	 I do not wish to provide this information 

• Female 

• Male 

• 	 I do not wish to provide this information 

 

 

SAMPLE DATA COLLECTION FORM 

DEMOGRAPHIC INFORMATION OF APPLICANT AND CO-APPLICANT 

The purpose of collecting this information is to help ensure that 

all applicants are treated fairly and that the housing needs of 

communities and neighborhoods are being fulfilled. For 

residential mortgage lending, Federal law requires that we ask 

applicants for their demographic information (ethnicity, race, and 

sex) in order to monitor our compliance with equal credit 

opportunity, fair housing, and home mortgage disclosure laws. 

You are not required to provide this information, but are 

encouraged to do so. You may select one or more 

designations for “Ethnicity” and one or more designations for 

“Race.” 

Applicant: 

Ethnicity: – Check one or more 

•	 Hispanic or Latino 

• Mexican 

• Puerto Rican 

• Cuban 

•	 Other Hispanic or Latino – Print origin, for example, 

Argentinean, Colombian, Dominican, Nicaraguan, 

Salvadoran, Spaniard, and so on: 

•	 Not Hispanic or Latino 

•	 I do not wish to provide this information 

Race: – Check one or more 

•	 American Indian or Alaska Native – Print name of enrolled 

or principal tribe: 

•	 Asian 

• Asian Indian 

• Chinese 

• Filipino 

• Japanese 

• Korean 

• Vietnamese 

•	 Other Asian – Print race, for example, Hmong, Laotian, 

Thai, Pakistani, Cambodian, and so on: 

•	 Black or African American 

•	 Native Hawaiian or Other Pacific Islander 

• Native Hawaiian 

• Guamanian or Chamorro 

• Samoan 

•	 Other Pacific Islander – Print race, for example, Fijian, 

Tongan, and so on: 

• White 

•	 I do not wish to provide this information 

Sex: 

The law provides that we may not discriminate on the basis of 

this information, or on whether you choose to provide it. 

However, if you choose not to provide the information and you 

have made this application in person, Federal regulations require 

us to note your ethnicity, race, and sex on the basis of visual 

observation or surname. If you do not wish to provide some or all 

of this information, please check below. 

Co-Applicant: 

Ethnicity: – Check one or more 

•	 Hispanic or Latino 

• Mexican 

• Puerto Rican 

• Cuban 

•	 Other Hispanic or Latino – Print origin, for example, 

Argentinean, Colombian, Dominican, Nicaraguan, 

Salvadoran, Spaniard, and so on: 

•	 Not Hispanic or Latino 

•	 I do not wish to provide this information 

Race: – Check one or more 

•	 American Indian or Alaska Native – Print name of enrolled 

or principal tribe: 

•	 Asian 

• Asian Indian 

• Chinese 

• Filipino 

• Japanese 

• Korean 

• Vietnamese 

•	 Other Asian – Print race, for example, Hmong, Laotian, 

Thai, Pakistani, Cambodian, and so on: 

•	 Black or African American 

•	 Native Hawaiian or Other Pacific Islander 

• Native Hawaiian 

• Guamanian or Chamorro 

• Samoan 

•	 Other Pacific Islander – Print race, for example, Fijian, 

Tongan, and so on: 

• White 

•	 I do not wish to provide this information 

Sex: 

To Be Completed by Financial Institution (for an application taken in person): 

Was the ethnicity of the applicant collected on the 

basis of visual observation or surname? 

• Yes 

• No 

Was the race of the applicant collected on the basis 

of visual observation or surname? 

• Yes 

• No 

Was the sex of the applicant collected on the basis 

of visual observation or surname? 

• Yes 

• No 

Was the ethnicity of the co-applicant collected on the 

basis of visual observation or surname? 

• Yes 

• No 

Was the race of the co-applicant collected on the basis 

of visual observation or surname? 

• Yes 

• No 

Was the sex of the co-applicant collected on the basis 

of visual observation or surname? 

• Yes 

• No 

ATTACHMENT A: 

127 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
ATTACHMENT B: 

Action taken chart 

Scenarios Reportable 

Action Taken Reportable Date 

Financial Institution made a credit decision approving 

an Application, including a preapproval request, before 

loan closing or account opening and that credit 

decision resulted in a Covered Loan being originated. 

Comments 4(a)(8)(i)-1. 

Financial Institution made counteroffer and applicant 

accepted resulting in a Covered Loan being 

originated. Comments 4(a)(8)(i)-9 and 4(a)(8)(ii)-5. 

Loan 

originated 

Generally, loan closing or 

account opening date. If 

applicable, can be: later 

date of initial funds 

disbursement; date 

Financial Institution 

acquired Covered Loan 

from the party that initially 

received the Application; or, 

for a construction-topermanent loan, date 

Covered Loan converts to 

permanent financing 

Financial Institution purchased a Covered Loan after 

closing or account opening, and Financial Institution 

did not make a credit decision on the Application prior 

to closing or account opening. Comments 4(a)(8)(i)-2 

and 4(a)(8)(ii)-6. 

Financial Institution made a credit decision on an 

Application prior to closing or account opening, but 

repurchased the Covered Loan from another entity to 

which the Financial Institution had sold it. Comments 

4(a)(8)(i)-2 and 4(a)(8)(ii)-6. 

Loan 

purchased Date of purchase 

128 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Financial Institution made a credit decision approving 

an Application before loan closing or account opening, 

all conditions were satisfied, Financial Institution 

agreed to extend credit, but a Covered Loan was not 

originated. Comments 4(a)(8)(i)-3, 4(a)(8)(i)-13, and 

4(a)(8)(ii)-4. 

Financial Institution made a credit decision approving 

an Application subject to conditions that are solely 

customary commitment or closing conditions,23 and 

the conditions were not all met. Comments 4(a)(8)(i)-

13 and 4(a)(8)(ii)-4. 

Financial Institution made a credit decision approving 

an Application, subject solely to outstanding conditions 

that are customary commitment or closing conditions, 

but applicant failed to respond or a Covered Loan was 

not originated. Comments 4(a)(8)(i)-3 and 4(a)(8)(ii)-

4. 

Financial Institution made a credit decision approving 

an Application, all underwriting and creditworthiness 

conditions24 were met, outstanding conditions were 

solely customary commitment or closing conditions, 

and applicant expressly withdrew before a Covered 

Loan was originated. Comments 4(a)(8)(i)-13 and 

4(a)(8)(ii)-4. 

Covered Loan was originated, but Borrower rescinded 

after closing and before Financial Institution was 

required to submit its LAR containing information for 

the Covered Loan. Comments 4(a)(8)(i)-10 and 

4(a)(8)(ii)-4. 

Any reasonable date, such 

as approval date, deadline 

for accepting offer, or date 

file was closed 

Application 

approved but 

not accepted 

23 Customary commitment or closing conditions include: a clear-title requirement, an acceptable property survey, acceptable title insurance binder, 

clear termite inspection, a subordination agreement from another lienholder, and, where the applicant plans to use the proceeds from the sale of one 

home to purchase another, a settlement statement showing adequate proceeds from the sale. Comment 4(a)(8)(i)-13.ii. 

24 Underwriting or creditworthiness conditions include: conditions that constitute a counter-offer, (such as a demand for a higher down-payment), 

satisfactory debt-to-income or loan-to-value ratios, a determination of need for private mortgage insurance, a satisfactory appraisal requirement, or 

verification or confirmation, in whatever form the Financial Institution requires, that the applicant meets underwriting conditions concerning 

applicant creditworthiness, including documentation or verification of income or assets. Comment 4(a)(8)(i)-13.iii. 

129 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

Financial Institution denied an Application before 

applicant withdrew it and before file was closed for 

incompleteness. Comments 4(a)(8)(i)-4 and 

4(a)(8)(ii)-2. 

Financial Institution provided conditional approval 

specifying underwriting or creditworthiness conditions 

that were not all met. Comments 4(a)(8)(i)-13 and 

4(a)(8)(ii)-2. 

Application 

denied 

Date Application is denied 

or date notice sent to 

applicant 

Financial Institution made a counteroffer to lend on 

different terms than applicant’s initial request, and 

applicant did not accept the counteroffer, declined to 

proceed, or failed to respond. Comments 4(a)(8)(i)-9 

and 4(a)(8)(ii)-2. 

Application 

denied (based 

on the original 

terms requested 

by applicant) 

Date Application is denied 

or date notice sent to 

applicant 

Financial Institution made counteroffer to lend on 

terms different than applicant’s initial request, 

applicant agreed to proceed with terms of 

counteroffer, then Financial Institution conditionally 

approves application subject to underwriting or 

creditworthiness conditions, and applicant expressly 

withdraws before satisfying all underwriting and 

creditworthiness conditions and before the Financial 

Institution denies the Application or closes the file for 

incompleteness. Comment 4(a)(8)(i)-9. 

Application 

withdrawn 

Date the express 

withdrawal was received or 

date shown on the 

notification form (if written 

withdrawal) 

130 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
Application expressly withdrawn by applicant before 

Financial Institution made a credit decision denying or 

approving the Application and before file was closed 

for incompleteness. Comments 4(a)(8)(i)-5 and 

4(a)(8)(ii)-3. 

Financial Institution provided conditional approval 

specifying underwriting or creditworthiness conditions, 

and the Application was expressly withdrawn by the 

applicant before the applicant satisfied all specified 

underwriting or creditworthiness conditions and before 

the Financial Institution denied the loan or closed the 

file for incompleteness. Comments 4(a)(8)(i)-5 and 

4(a)(8)(ii)-3. 

Date the express 

withdrawal was received or 

date shown on the 

notification form (if written 

withdrawal) 

Application 

withdrawn 

Financial Institution approved an Application, subject 

to underwriting or creditworthiness conditions, sent 

notice of incompleteness under Regulation B, but the 

applicant failed to respond within the specified time. 

Comments 4(a)(8)(i)-13 and 4(a)(8)(ii)-2. 

Applicant had not satisfied all underwriting or 

creditworthiness conditions, Financial Institution sent 

written notice of incompleteness under Regulation B, 

and the applicant did not respond to the request for 

additional information within the period of time 

specified in the notice. Comments 4(a)(8)(i)-6 and 

4(a)(8)(ii)-2. 

File closed for 

incompleteness 

Note: A 

preapproval 

request that is 

closed for 

incompleteness 

is not reportable 

under HMDA 

Date file was closed or date 

notice sent to applicant 

Either file closed 

for 

incompleteness 

or application 

denied 

Note: A 

preapproval 

request that is 

closed for 

incompleteness 

is not reportable 

under HMDA 

Applicant had not satisfied all underwriting or 

creditworthiness conditions, Financial Institution sent 

written notice of incompleteness under Regulation B, 

the applicant did not respond, then the Financial 

Institution provided notice of adverse action on basis 

of incompleteness under Regulation B. Comments 

4(a)(8)(i)-6 and 4(a)(8)(ii)-2. 

Date file was closed, 

Application was denied (as 

applicable), or notice sent 

to applicant 

131 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
Application was a request for a preapproval under a 

Preapproval Program, the Financial Institution 

approved the preapproval request, but the Application 

did not result in the Financial Institution originating a 

Covered Loan. Comments 4(a)(8)(i)-8 and 4(a)(8)(ii)-

4. 

Preapproval 

request 

approved but 

not accepted 

Any reasonable date, such 

as approval date, deadline 

for accepting offer, or date 

file was closed 

Application was request for a preapproval under 

Preapproval Program, and the Financial Institution 

made a credit decision denying the preapproval 

request. Comments 4(a)(8)(i)-7 and 4(a)(8)(ii)-2. 

Date preapproval request 

was denied or date notice 

sent to applicant 

Preapproval 

request denied 

132 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

ATTACHMENT C: 

Sample notices 

Below is a sample notice that can be provided to members of the public upon 

request to satisfy § 1003.5(b)(2) and (c). The following language is suggested, but 

is not required. 

Home Mortgage Disclosure Act Notice 

The HMDA data about our residential mortgage lending are available online for review. The 

data show geographic distribution of loans and applications; ethnicity, race, sex, age and income 

of applicants and borrowers; and information about loan approvals and denials. These data are 

available online at the Consumer Financial Protection Bureau’s Web site 

(www.consumerfinance.gov/hmda). HMDA data for many other financial institutions are also 

available at this Web site. 

Below is a sample posted notice that can be used to satisfy § 1003.5(e) and inform 

the public of availability of HMDA data. The following language is suggested, but is 

not required. 

Home Mortgage Disclosure Act Notice 

The HMDA data about our residential mortgage lending are available online for review. The 

data show geographic distribution of loans and applications; ethnicity, race, sex, age and income 

of applicants and borrowers; and information about loan approvals and denials. HMDA data for 

many other financial institutions are also available online. For more information, visit the 

Consumer Financial Protection Bureau’s Web site (www.consumerfinance.gov/hmda). 

133 HOME MORTGAGE DISCLOSURE (REGULATION C) VERSION 4.0 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

 

 

 

 

APPENDIX C: Instructions on Collection of 

Data on Ethnicity, Race, and Sex 

The following is a copy of the CFPB’s HMDA Collection and Reporting of HMDA 

Information about Ethnicity and Race chart, a reference tool summarizing the options 

available for collection and reporting of HMDA Ethnicity and Race data. 

This Chart is not a substitute for Regulation C. Regulation C and its official 

interpretations (also known as the commentary) are the definitive sources of 

information regarding its requirements. Regulation C and its official interpretations 

are available in Appendix H and I of this Guide and at 

www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1003/. 
 

for 

applicant data collected prior to January 1, 2018 where final action is taken on or after January 

1, 2018. However, because 

 

 

 

 

Effective January 1, 2017 

Collection and Reporting of HMDA Information about 

Ethnicity and Race 

This chart summarizes the options available to financial institutions to collect and report HMDA 

race and ethnicity information. 

Current Regulation C, which implements HMDA, requires certain financial institutions to 

collect and report information about the ethnicity, race, and sex of applicants for mortgages. 

Regulation C, as amended by the 2015 HMDA Rule and the 2017 HMDA Rule, will generally 

require financial institutions to permit applicants to self-identify using disaggregated ethnicity 

and race categories* beginning January 1, 2018, but which provides a transition rule

Regulation B generally prohibits creditors from asking for 

information about ethnicity and race unless authorized by law, including by Regulation C, the 

Bureau Official Approval Notice issued on September 23, 2016 allows creditors, at their option, 

at any time from January 1, 2017, through December 31, 2017, to permit applicants to selfidentify using the disaggregated ethnicity and race categories* provided in appendix B to 

Regulation C, as amended by the 2015 HMDA final rule. Further, on September 20, 2017, the 

Bureau issued an amendment to Regulation B (2017 Regulation B Rule) to allow creditors 

flexibility concerning the collection of applicant ethnicity and race information in certain 

additional specified circumstances. 
 

 

(82 FR 43088) 

(82 FR 43088) 

Application 

year 

Final 

action 

year 

Ethnicity and race collection and 

reporting requirements Regulatory references 

2017 2017 Collect aggregate and report aggregate, OR 

Current Regulation C, effective January 

1, 2017 

(12 CFR part 1003, appendices A and 

B) 

2017 2017 Collect disaggregated and report aggregate Bureau Official Approval Notice (81 FR 

66930) 

2017 2018 Collect aggregate and report aggregate, OR 

Current Regulation C, effective January 

1, 2017 (12 CFR part 1003, appendices 

A and B) AND 

transition rule, effective January 1, 2018 

(2015 HMDA Final Rule, comment 

4(a)(10)(i)-2) 

2017 2018 Collect disaggregated and report aggregate, 

OR 

Bureau Official Approval Notice (81 FR 

66930) AND 

transition rule, effective January 1, 2018 

(2015 HMDA Final Rule, comment 

4(a)(10)(i)-2) 

2017 2018 Collect disaggregated and report 

disaggregated 

Bureau Official Approval Notice (81 FR 

66930) 

2018 and 

beyond 

2018 

and 

beyond 

Collect disaggregated and report 

disaggregated, AND 

2015 HMDA Rule (80 FR 66127) AND 

2017 HMDA Rule

2018 and 

beyond 

2018 

and 

beyond 

Report whether ethnicity, race, and sex were 

collected on the basis of visual observation 

or surname** 

2015 HMDA Rule (80 FR 66127) AND 

2017 HMDA Rule

*Only an applicant may self-identify using the disaggregated ethnicity and race categories. When a financial institution 

collects ethnicity, race, and sex on the basis of visual observation or surname for an application taken in person because the 

applicant chose not to provide the information, the financial institution must select from the aggregate categories. 

**Prior to the 2015 HMDA Rule, Regulation C required that the financial institution note the ethnicity, race, and sex on 

the basis of visual observation if the applicant chose not to furnish the information and the application was made in 

person, but the financial institution is not required to report that ethnicity, race, and sex were collected on the basis of 

visual observation. Additionally, the 2017 Regulation B Rule and the 2017 HMDA Rule permit certain creditors, at their 

option to voluntarily collect and report, respectively, certain ethnicity, race, and sex information about applications for 

certain mortgage loans. 

This chart provides an overview of the ethnicity and race collection and reporting requirements under HMDA, Regulation C, the Bureau’s 

Official Approval Notice, and certain aspects of Regulation B. It does not by itself establish any binding obligations. It is intended only to act as a 

reference and not as a substitute for the regulation or its official commentary. Always consult the regulation text and official commentary for a 

complete understanding of the law. Version 2.0, 10/16/2017 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

 

 

 

APPENDIX D: Institutional Coverage Chart 

The following is a copy of the CFPB’s HMDA Institutional Coverage Chart, a reference 

tool illustrating the criteria to help determine whether an institution is covered by 

Regulation C in 2018 and thereafter. This copy was last updated on January 9, 2020. 

This Chart is not a substitute for Regulation C. Regulation C and its official 

interpretations (also known as the commentary) are the definitive sources of 

information regarding its requirements. Regulation C and its official interpretations 

are available in Appendix H and I of this Guide and at 

www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1003/. 
 

 

 

 

 

HMDA institutional coverage 

The precise criteria for whether an institution is covered by Regulation C are codified in 12 CFR § 1003.2(g). 

These criteria are illustrated by the following diagrams. 

Coverage criteria | Effective January 1, 2018 through December 31, 20211 

Is the institution a bank, credit union, or savings association? 

Depository Institution Yes 

No 

On the preceding December 31, did the 

total assets of the institution exceed the 

asset threshold2? 

Yes
 

Yes 

No
 

On the preceding December 31, did the 

institution have a home or branch office in a 

Metropolitan Statistical Area (MSA)? 

No 

Yes 

In the preceding calendar year, did the 

institution originate at least one home

purchase loan or refinancing of a home

purchase loan secured by a first lien on a 

one- to four-unit dwelling? 

No 

Yes 

Is the institution federally insured or 

regulated; was the mortgage loan 

referred to above insured, guaranteed, 

or supplemented by a Federal agency; 

or was the loan intended for sale to 

Fannie Mae or Freddie Mac? 

No 

Yes 

Did the institution originate at least3: 

• 25 closed-end mortgage loans in each of

the two preceding calendar years; or 

• 500 open-end lines of credit in each of

the two preceding calendar years? 

The institution is a 

depository financial

institution covered by

Regulation C 

The institution 

is not covered 

No Nondepository Institution 

No 

Is the institution a for-profit mortgagelending institution (other than a bank,

savings association, or credit union)? 

Yes 

Yes 

No 

Did the institution either: 

• Have a home or branch office in an 

MSA on the preceding December 

31, or 

• Receive applications for, originate, 

or purchase at least five home 

purchase loans, home improvement 

loans, or refinancings related to 

property located in the same MSA 

or Metropolitan Division (MD) in the 

preceding calendar year? 

Did the institution originate at least3: 

• 25 closed-end mortgage loans in each

of the two preceding calendar years; or 

• 500 open-end lines of credit in each 

of the two preceding calendar years? 

No 

Yes 

The institution is a 

nondepository financial 

institution covered by

Regulation C 

The institution 

is not covered 

This chart summarizes requirements under HMDA and Regulation C, and does not itself establish any binding obligations. It is intended only to 

act as a quick reference and not as a substitute for the regulation or its commentary. Always consult the regulation text and official commentary 

for a complete understanding of the law. Version 3.0, 10/10/2019 

1 This chart is effective January 1, 2018 through December 31, 2021.

Absent further rulemaking, on January 1, 2022 the open-end line of

credit threshold will adjust to 100. 

2 Every year, the Bureau announces the size of the asset threshold in the

Federal Register. The asset threshold may change from year to year

based on changes in the average of the Consumer Price Index for 

Urban Wage Earners and Clerical Workers. 

3 Some transactions are not HMDA reportable and are excluded from 

the coverage criteria. For more information, please see § 1003.3(c) 

of Regulation C. 

Consumer Financial 

Protection Bureau 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

 

 

 

APPENDIX E: Transactional Coverage Chart 

The following is a copy of the CFPB’s 2018 HMDA Transactional Coverage Chart, a 

reference tool illustrating one approach to help determine whether a transaction is 

reportable under HMDA for 2018 data and thereafter. 

This Chart is not a substitute for Regulation C. Regulation C and its official 

interpretations (also known as the commentary) are the definitive sources of 

information regarding its requirements. Regulation C and its official interpretations 

are available in Appendix H and I of this Guide and at 

www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1003/. 
Consumer Financial

Protection Bureau

 

 

 

 

 

 

HMDA transactional coverage 

Effective January 1, 2018 

Under HMDA and Regulation C, a transaction is reportable only if it is an Application for, an origination 

of, or a purchase of a Covered Loan. These materials illustrate one approach to help determine whether 

a transaction involves a Covered Loan. If the transaction involves a Covered Loan, it is reported only if 

the institution meets the applicable loan-volume thresholds. Terms that are defined in Regulation C are 

capitalized in this document for ease of reference. Click on the numbers below to view the instructions for 

each step. 

Does the transaction involve a Covered Loan? 

No 

No 

No 

No 

Yes 

Yes 

Yes 

Transaction involves 

a Covered Loan 

1 Excluded by its purpose? page 2 

2 Secured by a lien on a Dwelling? page 3 

3 Involve an extension of credit? page 4 

4 Other exclusions apply? page 5 

Does not involve 

a Covered Loan 

Yes 

These materials summarize requirements under HMDA and Regulation C and do not themselves establish any binding 

obligations. They are intended only to act as a reference and not as a substitute for the regulation or its official commentary. 

Always consult the regulation text and official commentary for a complete understanding of the law. Version 2.0, 9/28/2017 

page 1 of 6 
 

 

1 Is the transaction excluded by its purpose?
 

Is the transaction primarily for agricultural purposes? 

NOTE: Agricultural-purpose transactions include 

transactions that are secured by a Dwelling that is located 

on real property that is used primarily for agricultural 

purposes. § 1003.3(c)(9) 

Is the transaction otherwise made primarily for a business 

or commercial purpose? § 1003.3(c)(10) 

Is the transaction also: 

• a Home Improvement Loan? § 1003.2(i), 

• a Home Purchase Loan? § 1003.2(j), 

 or 

• a Refinancing? (Including cash-out Refinancing) § 1003.2(p)

 Proceed to Step 2 

No 

No 

No 

Yes 

Yes 

Yes 

Does not involve 

a Covered Loan 

Consumer Financial
 

Protection Bureau back to page 1 page 2 of 6
 
 

 

 

 

2 Is the transaction secured by a lien on a Dwelling?1
 

 Proceed to Step 3 Does not involve 

a Covered Loan 

Yes No

Is the transaction secured by a lien on a Dwelling?1 

Use the table below to help determine whether the transaction is secured by a lien on a Dwelling.
	

Single family structures Multifamily structures Mixed-use purposes 

Dwelling Dwelling Dwelling 

• Principal residences 

• Second homes 

• Vacation homes 

• Manufactured Homes or 

other factory built homes 

• Investment properties 

• Individual condominium units 

• Detached homes 

• Individual cooperative units 

• Apartment buildings 

or complexes 

• Manufactured home 

communities 

• Condominium buildings

or complexes 

• Cooperative buildings 

or complexes 

• Mixed-use property if primary 

use is residential 

• Properties for long-term 

housing and related services 

(such as assisted living for 

senior citizens or supportive 

housing for people with 

disabilities) 

• Properties for long-term 

housing and medical care 

if primary use is residential 

Not a Dwelling Not a Dwelling Not a Dwelling 

• Transitory residences 

• Recreational vehicles 

• Boats 

• Campers 

• Travel trailers 

• Park model RVs 

• Floating homes 

• Houseboats 

• Mobile homes constructed 

before June 15, 1976 

• Transitory residences 

• Hotels 

• Hospitals and properties 

used to provide medical 

care (such as skilled nursing, 

rehabilitation, or long-term 

medical care) 

• College dormitories 

• Recreational vehicle parks 

• Mixed-use property if primary 

use is not residential 

• Transitory residences 

• Structures originally

designed as Dwellings 

but used exclusively for 

commercial purposes 

• Properties for long-term 

housing and medical care if 

primary use is not residential 

1Dwelling means a residential structure, whether or not attached to real property. § 1003.2(f) and comments 2(f)-1 through -5. 

Consumer Financial 

Protection Bureau back to page 1 page 3 of 6
 

 

 

3 Does the transaction involve an extension of credit?2
 

Yes 

Proceed to Step 4 

Is or was the transaction: 

• an assumption? comment 2(d)-2.i

 or 

• completed pursuant to a New York State consolidation, 

extension, and modification agreement (CEMA)? 

comment 2(d)-2.ii 

Credit granted pursuant to a new debt obligation? 

No 

Yes No

Does not involve 

a Covered Loan 

2 Generally under Regulation C, an extension of credit refers to the granting of credit only pursuant to a new debt obligation. If 

the transaction modifies, renews, extends, or amends the terms of an existing debt obligation, but the existing debt obligation is 

not satisfied and replaced, the transaction is not a new extension of credit, unless it falls within the two exceptions noted above. 

§ 1003.2(d) and (o), and comments 2(d)-2 and 2(o)-2 

Consumer Financial 

Protection Bureau back to page 1 page 4 of 6 
 

 

4 Do other exclusions apply? § 1003.3(c)(1) through (8) and (c)(13)
 

If NO to all 

of the questions 

If YES to any 

of the questions 

Transaction involves 

a Covered Loan 

Does not involve 

a Covered Loan 

Is or was the transaction: 

• originated or purchased by the Financial Institution acting in a fiduciary 

capacity? 

• secured by a lien on unimproved land? 

• temporary financing? 

• the purchase of an interest in a pool of otherwise Covered Loans, such as 

mortgage-participation certificates, mortgage-backed securities, or real 

estate mortgage investment conduits? 

• the purchase solely of the right to service an otherwise Covered Loan? 

• a purchase as part of a merger or acquisition, or as part of the acquisition 

of all of the assets and liabilities of a branch office? 

• for a total dollar amount that is less than $500? 

• a purchase of a partial interest in an otherwise Covered Loan? 

• to provide new funds in advance of a consolidation agreement completed 

pursuant to a New York State CEMA where consolidation occurred in the 

same year as final action on the transaction? 

Consumer Financial
 

Protection Bureau back to page 1 page 5 of 6
 
 

 

 

 • Transaction involves a Covered Loan 

Regulation C provides different loan-volume reporting thresholds for transactions that involve a Covered 

Loan depending on whether they involve a Closed-End Mortgage Loan or an Open-End Line of Credit. 

§ 1003.3(c)(11) and (12). Reporting is required if a threshold is met in each of the two preceding calendar 

years.3 (See 2018 Institutional Coverage Chart for guidance regarding institutional coverage.) 

Closed-End Mortgage Loan § 1003.2(d) Open-End Line of Credit § 1003.2(o)

Lending activity		 Lending activity 

Originated at least 500 Open-End Lines 

of Credit in each of the two preceding 

calendar years? 

§ 1003.3(c)(12) 

Data reporting Data reporting 

Originated at least 25 Closed-End 

Mortgage Loans in each of the two 

preceding calendar years? 

§ 1003.3(c)(11) 

Yes No Yes No

Not required to 

report ClosedEnd Mortgage 

Loan Applications, 

originations, and 

purchases 

Not required to 

report Open-End 

Lines of Credit 

Applications, 

originations, and 

purchases 

Required to report 

all Closed-End 

Mortgage Loan 

Applications, 

originations, and 

purchases 

Required to report 

all Open-End Lines of 

Credit Applications, 

originations, and 

purchases 

• Only originated Covered Loans count toward the loan-volume thresholds. If a threshold is met, the 

institution reports all Applications for Covered Loans that it receives, Covered Loans that it originates, 

and Covered Loans that it purchases for that type of transaction (either Closed-End Mortgage Loan or 

Open-End Line of Credit, or both, if both thresholds are met). 

• Covered consumer and business or commercial purpose originations should be counted together when 

assessing the individual thresholds for Closed-End Mortgage Loans and Open-End Lines of Credit. 

• A financial institution may voluntarily report Closed-End Mortgage Loans or Open-End Lines of Credit 

that are excluded because the financial institution does not meet the transactional threshold for that type 

of transaction. However, if it chooses to voluntarily report Closed-End Mortgage Loans or Open-End 

Lines of Credit, the financial institution must report all such transactions that would otherwise be covered 

loans for that calendar year. 

3 The threshold for open-end lines of credit is set at 500 for calendar years 2018 and 2019. See the Bureau’s August 2017 

Final Rule for more information about the temporary threshold increase for open-end lines of credit, available at 

consumerfinance.gov/policy-compliance/rulemaking/final-rules/regulation-c-home-mortgage-disclosure-act. 

Consumer Financial 

Protection Bureau back to page 1 page 6 of 6 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

 

 

APPENDIX F: Partial Exemptions 

The following are charts that illustrate the 26 data points covered by the partial 

exemptions and the 22 data points that are not covered by the partial exemptions. 

This copy was last updated on March 7, 2019. 

These Charts are not a substitute for Regulation C. Regulation C and its official 

interpretations (also known as the commentary) are the definitive sources of 

information regarding its requirements. Regulation C and its official interpretations 

are available in Appendix H and I of this Guide and at 

www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1003/. 
 

 

 

 

 

 

 

 

 

 

 

Data Points Eligible Financial Institutions Need Not Collect or Report under the HMDA 

Rule For Transactions Covered by a Partial Exemption 

• Universal Loan Identifier (ULI) (1003.4(a)(1)(i))1 

• Application Channel (1003.4(a)(33)) 

• Loan Term (1003.4(a)(25)) 

• Reasons for Denial (1003.4(a)(16))2 

• Property Address (1003.4(a)(9)(i)) 

• Manufactured Home Secured Property Type (1003.4(a)(29)) 

• Manufactured Home Land Property Interest (1003.4(a)(30)) 

• Property Value (1003.4(a)(28)) 

• Multifamily Affordable Units (1003.4(a)(32)) 

• Debt-to-Income Ratio (1003.4(a)(23)) 

• Combined Loan-to-Value Ratio (1003.4(a)(24)) 

• Credit Score (1003.4(a)(15)) 

• Automated Underwriting System (1003.4(a)(35)) 

• Interest Rate (1003.4(a)(21)) 

• Introductory Rate Period (1003.4(a)(26)) 

• Rate Spread (1003.4(a)(12)) 

• Non-Amortizing Features (1003.4(a)(27)) 

• Total Loan Costs or Total Points and Fees (1003.4(a)(17)) 

• Origination Charges (1003.4(a)(18)) 

• Discount Points (1003.4(a)(19)) 

• Lender Credits (1003.4(a)(20)) 

• Prepayment Penalty Term (1003.4(a)(22)) 

• Reverse Mortgage Flag (1003.4(a)(36)) 

• Open-End Line of Credit Flag (1003.4(a)(37)) 

• Business or Commercial Purpose Flag (1003.4(a)(38)) 

• Mortgage Loan Originator Identifier (1003.4(a)(34)) 

1 If the Financial Institution chooses not to report a ULI for a Covered Loan or Application covered by a partial exemption, it 

must report a non-universal loan identifier as discussed in Section 5.2 of the Small Entity Compliance Guide. 

2 Financial institutions supervised by the Office of the Comptroller of the Currency are required to report reasons for denial 

on their HMDA loan/application registers (HMDA LARs), even if a partial exemption applies. 12 CFR 27.3(a)(1)(i), 128.6. 

Similarly, pursuant to regulations transferred from the Office of Thrift Supervision, certain financial institutions supervised 

by the Federal Deposit Insurance Corporation are required to report reasons for denial on their HMDA LARs, even if a 

partial exemption applies. 12 CFR 390.147. 
• Ethnicity (1003.4(a)(10)(i)) 

• Race (1003.4(a)(10)(i)) 

• Sex (1003.4(a)(10)(i)) 

• Age (1003.4(a)(10)(ii)) 

• Income (1003.4(a)(10)(iii)) 

• Legal Entity Identifier (LEI) (1003.5(a)(3)) 

• Application Date (1003.4(a)(1)(ii) 

• Preapproval (1003.4(a)(4)) 

• Loan Type (1003.4(a)(2)) 

• Loan Purpose (1003.4(a)(3)) 

• Loan Amount (1003.4(a)(7)) 

• Action Taken (1003.4(a)(8)(i)) 

• Action Taken Date (1003.4(a)(8)(ii)) 

• State (1003.4(a)(9)(ii)(A)) 

• County (1003.4(a)(9)(ii)(B)) 

• Census Tract (1003.4(a)(9)(ii)(C)) 

• Construction Method (1003.4(a)(5)) 

• Occupancy Type (1003.4(a)(6) 

• Lien Status (1003.4(a)(14)) 

• Number of Units (1003.4(a)(31)) 

• HOEPA Status (1003.4(a)(13)) 

• Type of Purchaser (1003.4(a)(11)) 

Data Points Eligible Financial Institutions Must Collect and Report under the HMDA Rule for 

Transactions Covered by a Partial Exemption 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

 

 

 

 

 

APPENDIX G: Data Fields and Data Points 

The following is a chart that lists data points and corresponding data fields and data 

field numbers. It also indicates the data points that are covered by partial exemptions. 

This copy was last updated on January 9, 2020. 

This chart is not a substitute for Regulation C and the HMDA Filing Instructions 

Guide. Regulation C and its official interpretations (also known as the commentary) 

are the definitive sources of information regarding its requirements. Regulation C and 

its official interpretations are available in Appendix H and I of this Guide and at 

www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1003/. 

The Filing Instructions Guide and Supplemental Guide for Quarterly Filers are 

available at ffiec.cfpb.gov. 
 

TABLE 1: FILING INSTITUTION, REPORTING PERIOD, AND CONTACT INFORMATION 

(TRANSMITTAL SHEET) 

Data Field Name Regulation C References 

1 Record Identifier § 1003.5(a)(5)(a) 

2 Financial Institution Name § 1003.5(a)(3)(i) 

3 Calendar Year § 1003.5(a)(3)(ii) 

4 Calendar Quarter § 1003.5(a)(3)(ii) 

5 Contact Person’s Name § 1003.5(a)(3)(iii) 

6 Contact Person’s Telephone 

Number § 1003.5(a)(3)(iii) 

7 Contact Person’s E-mail Address § 1003.5(a)(3)(iii) 

Contact Person’s Office Street 

Address 8 § 1003.5(a)(3)(iii) 

9 Contact Person’s Office City § 1003.5(a)(3)(iii) 

10 Contact Person’s Office State § 1003.5(a)(3)(iii) 

11 Contact Person’s Office ZIP Code § 1003.5(a)(3)(iii) 

12 Federal Agency § 1003.5(a)(3)(iv) 

Total Number of Entries 

Contained in Submission 13 § 1003.5(a)(3)(v) 

14 Federal Taxpayer Identification 

Number § 1003.5(a)(3)(vi) 

15 Legal Entity Identifier (LEI) § 1003.5(a)(3)(vii) 

Data Field 

Number 
1 Record Identifier § 1003.5(a)(5)(a) 

TABLE 2: LOAN/APPLICATION REGISTER 

Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

3 

Universal Loan Identifier (ULI) 

or Non-Universal Loan 

Identifier (NULI) 

Legal Entity Identifier 

(LEI) 2 Legal Entity Identifier (LEI) § 1003.4(a)(1)(i)(A) No 

Universal Loan Identifier 

(ULI) or Non-Universal 

Loan Identifier (NULI) 

§ 1003.4(a)(1)(i). 

Comments 4(a)(1)(i)-1 

through -6, and 

appendix C 

§ 1003.4(a)(1)(ii), 

Comments 4(a)(1)(ii)-1 

4 Application Date Application Date through -3 No 

Yes 

5 Loan Type Loan Type 

§ 1003.4(a)(2), 

Comment 4(a)(2)-1 

§ 1003.4(a)(3), 

Comments 4(a)(3)-1 

6 Loan Purpose Loan Purpose through -6 No 

No 

7 Preapproval Preapproval 

§ 1003.4(a)(4), 

Comments 4(a)(4)-1 

and -2 No 

8 Construction Method Construction Method 

§ 1003.4(a)(5), 

Comments 4(a)(5)-1 

through -3 No 

9 Occupancy Type Occupancy Type 

§ 1003.4(a)(6), 

Comments 4(a)(6)-1 

through -5 No 

10 Loan Amount Loan Amount 

§ 1003.4(a)(7), 

Comments 4(a)(7)-1 

through -9 No 

11 Action Taken Action Taken 

§ 1003.4(a)(8)(i), 

Comments 4(a)(8)(i)-1 

through -14 No 
 

Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

12 Action Taken Date Action Taken Date 

§ 1003.4(a)(8)(ii), 

Comments 4(a)(8)(ii)-1 

through -6 No 

13 Street Address Property Address 

§ 1003.4(a)(9)(i), 

Comments 4(a)(9)-1 

through -5 and 

4(a)(9)(i)-1 through -3 

Yes 

14 City Property Address 

§ 1003.4(a)(9)(i), 

Comments 4(a)(9)-1 

through -5 and 

4(a)(9)(i)-1 through -3 

Yes 

15 State1 Property Location & 

Property Address 

§ 1003.4(a)(9)(i)-(ii), 

Comments 4(a)(9)-1 

through -5 and 

4(a)(9)(i)-1 through -3 

No 

16 ZIP Code Property Address 

§ 1003.4(a)(9)(i), 

Comments 4(a)(9)-1 

through -5 and 

4(a)(9)(i)-1 through -3 

Yes 

17 County Property Location 

§ 1003.4(a)(9)(ii), 

Comments 4(a)(9)-1 

through -5 and 

4(a)(9)(i)-1 through -3 

No 

18 Census Tract Property Location 

§ 1003.4(a)(9)(ii), 

Comments 4(a)(9)-1 

through -5 and 

4(a)(9)(i)-1 through -3 

No 

19 Ethnicity of Applicant or 

Borrower: 1 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

1 Reporting of the State data field is subject to the requirements of both Property Address, provided in 1003.4(a)(9)(i) 

and covered by the partial exemptions, and Property Location, provided in 1003.4(a)(9)(ii) and not covered by the 

partial exemptions. 
Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

20 Ethnicity of Applicant or 

Borrower: 2 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

21 Ethnicity of Applicant or 

Borrower: 3 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

22 Ethnicity of Applicant or 

Borrower: 4 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

23 Ethnicity of Applicant or 

Borrower: 5 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

24 

Ethnicity of Applicant or 

Borrower: Free Form Text 

Field for Other Hispanic or 

Latino 

Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

25 Ethnicity of Co-Applicant or 

Co-Borrower: 1 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

26 Ethnicity of Co-Applicant or 

Co-Borrower: 2 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

27 Ethnicity of Co-Applicant or 

Co-Borrower: 3 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

28 Ethnicity of Co-Applicant or 

Co-Borrower: 4 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 
Ethnicity of Co-Applicant or 

Co-Borrower: Free Form Text 

Field for Other Hispanic or 

Latino 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

30 Ethnicity No 

Ethnicity of Applicant or 

Borrower Collected on the 

Basis of Visual Observation 

or Surname 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

31 Ethnicity No 

Ethnicity of Co-Applicant or 

Co-Borrower Collected on the

Basis of Visual Observation 

or Surname 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

32 Ethnicity No 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

33 Race of Applicant or 

Borrower: 1 Race 

No 

Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

29 Ethnicity of Co-Applicant or 

Co-Borrower: 5 Ethnicity 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

34 Race of Applicant or 

Borrower: 2 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

35 Race of Applicant or 

Borrower: 3 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

36 Race of Applicant or 

Borrower: 4 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

37 Race of Applicant or 

Borrower: 5 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 
Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

Race of Applicant or 

Borrower: Free Form Text 

Field for American Indian or 

Alaska Native Enrolled or 

Principal Tribe 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

38 Race No 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

Race of Applicant or 

Borrower: Free Form Text 

Field for Other Asian 

39 Race No 

Race of Applicant or 

Borrower: Free Form Text 

Field for Other Pacific 

Islander 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

40 Race No 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

41 Race of Co-Applicant or CoBorrower: 1 Race No 

42 Race of Co-Applicant or CoBorrower: 2 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

43 Race of Co-Applicant or CoBorrower: 3 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

44 Race of Co-Applicant or CoBorrower: 4 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

45 Race of Co-Applicant or CoBorrower: 5 Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

46 

Race of Co-Applicant or CoBorrower: Free Form Text 

Field for American Indian or 

Alaska Native Enrolled or 

Principal Tribe 

Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 
 

Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

47 

Race of Co-Applicant or CoBorrower: Free Form Text 

Field for Other Asian 

Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

48 

Race of Co-Applicant or CoBorrower: Free Form Text 

Field for Other Pacific 

Islander 

Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

49 

Race of Applicant or 

Borrower Collected on the 

Basis of Visual Observation 

or Surname 

Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

50 

Race of Co-Applicant or CoBorrower Collected on the 

Basis of Visual Observation 

or Surname 

Race 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

51 Sex of Applicant or Borrower Sex No 

52 Sex of Co-Applicant or CoBorrower Sex 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

No 

53 

Sex of Applicant or Borrower 

Collected on the Basis of 

Visual Observation or 

Surname 

Sex 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

§ 1003.4(a)(10)(i), 

Comments 4(a)(10)(i)-

1 and -2 and appendix 

B 

Sex of Co-Applicant or CoBorrower Collected on the 

Basis of Visual Observation 

or Surname 

54 Sex No 

§ 1003.4(a)(10)(ii), 

Comments 4(a)(10)(ii)-

1 through -5 55 Age of Applicant or Borrower Age No 

No 
Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

56 Age of Co-Applicant or CoBorrower Age 

§ 1003.4(a)(10)(ii), 

Comments 4(a)(10)(ii)-

1 through -5 No 

57 Income Income 

§ 1003.4(a)(10)(iii), 

Comments 

4(a)(10)(iii)-1 through -

10 

No 

58 Type of Purchaser Type of Purchaser 

§ 1003.4(a)(11), 

Comments 4(a)(11)-1 

through -10 No 

59 Rate Spread Rate Spread 

§ 1003.4(a)(12), 

Comments 4(a)(12)-1 

through -9 Yes 

60 HOEPA Status HOEPA Status 

§ 1003.4(a)(13), 

Comment 4(a)(13)-1 No 

61 Lien Status Lien Status 

§ 1003.4(a)(14), 

Comments 

4(a)(14)-1 and -2 No 

62 Credit Score of Applicant or 

Borrower Credit Score 

§ 1003.4(a)(15), 

Comments 4(a)(15)-1 

through -7 Yes 

63 Credit Score of Co-Applicant 

or Co-Borrower Credit Score 

§ 1003.4(a)(15), 

Comments 4(a)(15)-1 

through -7 Yes 

64 

Applicant or Borrower, Name 

and Version of Credit Scoring 

Model 

Credit Score 

§ 1003.4(a)(15), 

Comments 4(a)(15)-1 

through -7 Yes 

65 

Applicant or Borrower, Name 

and Version of Credit Scoring 

Model: Conditional Free Form 

Text Field for Code 8 

Credit Score 

§ 1003.4(a)(15), 

Comments 4(a)(15)-1 

through -7 Yes 

66 

Co-Applicant or Co-Borrower, 

Name and Version of Credit 

Scoring Model 

Credit Score 

§ 1003.4(a)(15), 

Comments 4(a)(15)-1 

through -7 Yes 
 

Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

67 

Co-Applicant or Co-Borrower, 

Name and Version of Credit 

Scoring Model: Conditional 

Free Form Text Field for 

Code 8 

Credit Score 

§ 1003.4(a)(15), 

Comments 4(a)(15)-1 

through -7 Yes 

68 Reason for Denial: 1 Reason for Denial 

§ 1003.4(a)(16), 

Comments 4(a)(16)-1 

through -4 Yes2 

69 Reason for Denial: 2 Reason for Denial 

§ 1003.4(a)(16), 

Comments 4(a)(16)-1 

through -4 Yes2 

70 Reason for Denial: 3 Reason for Denial 

§ 1003.4(a)(16), 

Comments 4(a)(16)-1 

through -4 Yes2 

71 Reason for Denial: 4 Reason for Denial 

§ 1003.4(a)(16), 

Comments 4(a)(16)-1 

through -4 Yes2 

72 

Reason for Denial: 

Conditional Free Form Text 

Field for Code 9 

Reason for Denial 

§ 1003.4(a)(16), 

Comments 4(a)(16)-1 

through -4 Yes2 

73 Total Loan Costs Total Loan Costs or Total 

Points and Fees 

§ 1003.4(a)(17), 

Comments 4(a)(17)(i)-

1 through -3 Yes 

74 Total Points and Fees Total Loan Costs or Total 

Points and Fees 

§ 1003.4(a)(17), 

Comments 4(a)(17)(ii)-

1 through -2 Yes 

75 Origination Charges Origination Charges 

§ 1003.4(a)(18), 

Comments 

4(a)(18)-1 through -3 Yes 

2Financial institutions supervised by the Office of the Comptroller of the Currency are required to report reasons for 

denial on their HMDA loan/application registers (HMDA LARs), even if a partial exemption applies. 

12 CFR 27.3(a)(1)(i), 128.6. Similarly, pursuant to regulations transferred from the Office of Thrift Supervision, 

certain financial institutions supervised by the Federal Deposit Insurance Corporation are required to report 

reasons for denial on their HMDA LARs. 12 CFR 390.147. 
Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

76 Discount Points Discount Points 

§ 1003.4(a)(19), 

Comments 4(a)(19)-1 

through -3 Yes 

77 Lender Credits Lender Credits 

§ 1003.4(a)(20), 

Comments 4(a)(20)-1 

through -3 Yes 

78 Interest Rate Interest Rate 

§ 1003.4(a)(21), 

Comments 4(a)(21)-1 

through -3 Yes 

79 Prepayment Penalty Term Prepayment Penalty Term 

§ 1003.4(a)(22), 

Comments 4(a)(22)-1 

through -2 Yes 

80 Debt-to-Income Ratio Debt-to-Income Ratio 

§ 1003.4(a)(23), 

Comments 4(a)(23)-1 

through -7 Yes 

81 Combined Loan-to-Value 

Ratio 

Combined Loan-to-Value 

Ratio 

§ 1003.4(a)(24), 

Comments 4(a)(24)-1 

through -6 Yes 

82 Loan Term Loan Term 

§ 1003.4(a)(25), 

Comments 4(a)(25)-1 

through -5 Yes 

83 Introductory Rate Period Introductory Rate Period 

§ 1003.4(a)(26), 

Comments 4(a)(26)-1 

through -5 Yes 

84 Balloon Payment Non-Amortizing Features 

§ 1003.4(a)(27)(i), 

Comment 4(a)(27)-1 Yes 

85 Interest-Only Payments Non-Amortizing Features 

§ 1003.4(a)(27)(ii), 

Comment 4(a)(27)-1 Yes 

86 Negative Amortization Non-Amortizing Features 

§ 1003.4(a)(27)(iii), 

Comment 4(a)(27)-1 Yes 

87 Other Non-amortizing 

Features Non-Amortizing Features 

§ 1003.4(a)(27)(iv), 

Comment 4(a)(27)-1 Yes 
Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

88 Property Value Property Value 

§ 1003.4(a)(28), 

Comments 4(a)(28)-1 

through -4 Yes 

89 Manufactured Home Secured 

Property Type 

Manufactured Home 

Secured Property Type 

§ 1003.4(a)(29), 

Comments 4(a)(29)-1 

through -4 Yes 

90 Manufactured Home Land 

Property Interest 

Manufactured Home Land 

Property Interest 

§ 1003.4(a)(30), 

Comments 4(a)(30)-1 

through -6 Yes 

91 Total Units Total Units 

§ 1003.4(a)(31), 

Comments 4(a)(31)-1 

through -4 No 

92 Multifamily Affordable Units Multifamily Affordable Units 

§ 1003.4(a)(32), 

Comments 4(a)(32)-1 

through -6 Yes 

93 Submission of Application Application Channel 

§ 1003.4(a)(33)(i), 

Comments 4(a)(33)-1, 

4(a)(33)(i)-1, Yes 

94 Initially Payable to Your 

Institution Application Channel 

§ 1003.4(a)(33)(ii), 

Comments 4(a)(33)(ii)-

1 through -2 Yes 

95 Mortgage Loan Originator 

NMLSR Identifier 

Mortgage Loan Originator 

NMLSR Identifier 

§ 1003.4(a)(34), 

Comments 4(a)(34)-1 

through -4 Yes 

96 Automated Underwriting 

System: 1 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

97 Automated Underwriting 

System: 2 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

98 Automated Underwriting 

System: 3 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 
Data 

Field 

Number 

Data Field Name Data Point Name Regulation C 

References 

Data Point 

Covered by 

Partial 

Exemptions? 

99 Automated Underwriting 

System: 4 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

100 Automated Underwriting 

System: 5 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

101 

Automated Underwriting 

System: Conditional Free 

Form Text Field for Code 5 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

102 Automated Underwriting 

System Result: 1 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

103 Automated Underwriting 

System Result: 2 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

104 Automated Underwriting 

System Result: 3 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

105 Automated Underwriting 

System Result: 4 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

106 Automated Underwriting 

System Result: 5 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

107 

Automated Underwriting 

System Result: Conditional 

Free Form Text Field for 

Code 16 

Automated Underwriting 

System 

§ 1003.4(a)(35), 

Comments 4(a)(35)-1 

through -7 Yes 

108 Reverse Mortgage Reverse Mortgage § 1003.4(a)(36) Yes 

109 Open-End Line of Credit Open-End Line of Credit 

§ 1003.4(a)(37), 

Comment 4(a)(37)-1 Yes 

110 Business or Commercial 

Purpose 

Business or Commercial 

Purpose 

§ 1003.4(a)(38), 

Comment 4(a)(38)-1 Yes 

i 
 

 

 

i This chart is intended to be used as a reference tool for data required to be collected, recorded, and 

reported under Regulation C, as amended by the 2015 HMDA Rule, 2017 HMDA Rule, and the 2018 Act 

that was further clarified by the 2019 HMDA Rule. It includes the data field numbers and data field 

names that are provided in the HMDA Filing Instructions Guide. The HMDA Filing Instructions can be 

found at https://ffiec.cfpb.gov 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Points and Data 

Fields Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

APPENDIX H: Regulation C 

The following is a copy of Regulation C. This copy is current as of January 9, 2020. 

This appendix is a compilation of material and not an official legal edition of the Code 

of Federal Regulations or the Federal Register. We have made every effort to ensure 

the material presented in this tool is accurate, but if you are relying on it for legal 

research you should consult the official editions of those sources to confirm your 

findings. 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulation C 

§ 1003.1 AUTHORITY, PURPOSE, AND SCOPE. 

(a) Authority. This part, known as Regulation C, is issued by the Bureau of Consumer Financial 

Protection (Bureau) pursuant to the Home Mortgage Disclosure Act (HMDA) (12 U.S.C. 2801 et 

seq.,) as amended. The information-collection requirements have been approved by the U.S. 

Office of Management and Budget (OMB) under 44 U.S.C. 3501 et seq. and have been 

assigned OMB numbers for institutions reporting data to the Office of the Comptroller of the 

Currency (1557-0159), the Federal Deposit Insurance Corporation (3064-0046), the Federal 

Reserve System (7100-0247), the Department of Housing and Urban Development (HUD) 

(2502-0529), the National Credit Union Administration (3133-0166), and the Bureau of 

Consumer Financial Protection (3170-0008). 

(b) Purpose. 

(1) This part implements the Home Mortgage Disclosure Act, which is intended to provide the 

public with loan data that can be used: 

(i) To help determine whether financial institutions are serving the housing needs of their 

communities; 

(ii) To assist public officials in distributing public-sector investment so as to attract private 

investment to areas where it is needed; and 

(iii) To assist in identifying possible discriminatory lending patterns and enforcing 

antidiscrimination statutes. 

(2) Neither the act nor this part is intended to encourage unsound lending practices or the 

allocation of credit. 

(c) Scope. This part applies to financial institutions as defined in §1003.2(g). This part requires 

a financial institution to submit data to the appropriate Federal agency for the financial institution 

as defined in §1003.5(a)(4), and to disclose certain data to the public, about covered loans for 

which the financial institution receives applications, or that it originates or purchases, and that 

are secured by a dwelling located in a State of the United States of America, the District of 

Columbia, or the Commonwealth of Puerto Rico. 

§ 1003.2 DEFINITIONS 

In this part: 

H-1 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Act means the Home Mortgage Disclosure Act (HMDA) (12 U.S.C. 2801 et seq.), as 

amended. 

(b) Application—

(1) In general. Application means an oral or written request for a covered loan that is made in 

accordance with procedures used by a financial institution for the type of credit requested. 

(2) Preapproval programs. A request for preapproval for a home purchase loan, other than a 

home purchase loan that will be an open-end line of credit, a reverse mortgage, or secured by a 

multifamily dwelling, is an application under this section if the request is reviewed under a 

program in which the financial institution, after a comprehensive analysis of the creditworthiness 

of the applicant, issues a written commitment to the applicant valid for a designated period of 

time to extend a home purchase loan up to a specified amount. The written commitment may 

not be subject to conditions other than: 

(i) Conditions that require the identification of a suitable property; 

(ii) Conditions that require that no material change has occurred in the applicant's financial 

condition or creditworthiness prior to closing; and 

(iii) Limited conditions that are not related to the financial condition or creditworthiness of the 

applicant that the financial institution ordinarily attaches to a traditional home mortgage 

application. 

(c) Branch office means: 

(1) Any office of a bank, savings association, or credit union that is considered a branch by the 

Federal or State supervisory agency applicable to that institution, excluding automated teller 

machines and other free-standing electronic terminals; and 

(2) Any office of a for-profit mortgage-lending institution (other than a bank, savings association, 

or credit union) that takes applications from the public for covered loans. A for-profit mortgagelending institution (other than a bank, savings association, or credit union) is also deemed to 

have a branch office in an MSA or in an MD, if, in the preceding calendar year, it received 

applications for, originated, or purchased five or more covered loans related to property located 

in that MSA or MD, respectively. 

(d) Closed-end mortgage loan means an extension of credit that is secured by a lien on a 

dwelling and that is not an open-end line of credit under paragraph (o) of this section. 

(e) Covered loan means a closed-end mortgage loan or an open-end line of credit that is not an 

excluded transaction under §1003.3(c). 

H-2 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(f) Dwelling means a residential structure, whether or not attached to real property. The term 

includes but is not limited to a detached home, an individual condominium or cooperative unit, a 

manufactured home or other factory-built home, or a multifamily residential structure or 

community. 

(g) Financial institution means a depository financial institution or a nondepository financial 

institution, where: 

(1) Depository financial institution means a bank, savings association, or credit union that: 

(i) On the preceding December 31 had assets in excess of the asset threshold established 

and published annually by the Bureau for coverage by the Act, based on the year-to-year 

change in the average of the Consumer Price Index for Urban Wage Earners and Clerical 

Workers, not seasonally adjusted, for each twelve month period ending in November, with 

rounding to the nearest million; 

(ii) On the preceding December 31, had a home or branch office in an MSA; 

(iii) In the preceding calendar year, originated at least one home purchase loan or 

refinancing of a home purchase loan, secured by a first lien on a one- to four-unit dwelling; 

(iv) Meets one or more of the following two criteria: 

(A) The institution is federally insured or regulated; or 

(B) Any loan referred to in paragraph (g)(1)(iii) of this section was insured, guaranteed, or 

supplemented by a Federal agency, or was intended by the institution for sale to the 

Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation; 

and 

(v) Meets at least one of the following criteria: 

(A) In each of the two preceding calendar years, originated at least 25 closed-end 

mortgage loans that are not excluded from this part pursuant to §1003.3(c)(1) through (10) 

or (13); or 

(B) In each of the two preceding calendar years, originated at least 500 open-end lines of 

credit that are not excluded from this part pursuant to §1003.3(c)(1) through (10); and 

(2) Nondepository financial institution means a for-profit mortgage-lending institution (other than 

a bank, savings association, or credit union) that: 

(i) On the preceding December 31, had a home or branch office in an MSA; and 

(ii) Meets at least one of the following criteria: 

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(A) In each of the two preceding calendar years, originated at least 25 closed-end 

mortgage loans that are not excluded from this part pursuant to §1003.3(c)(1) through (10) 

or (13); or 

(B) In each of the two preceding calendar years, originated at least 500 open-end lines of 

credit that are not excluded from this part pursuant to §1003.3(c)(1) through (10). 

(h) [Reserved] 

(i) Home improvement loan means a closed-end mortgage loan or an open-end line of credit 

that is for the purpose, in whole or in part, of repairing, rehabilitating, remodeling, or improving a 

dwelling or the real property on which the dwelling is located. 

(j) Home purchase loan means a closed-end mortgage loan or an open-end line of credit that 

is for the purpose, in whole or in part, of purchasing a dwelling. 

(k) Loan/Application Register means both the record of information required to be collected 

pursuant to §1003.4 and the record submitted annually or quarterly, as applicable, pursuant to 

§1003.5(a). 

(l) Manufactured home means any residential structure as defined under regulations of the 

U.S. Department of Housing and Urban Development establishing manufactured home 

construction and safety standards (24 CFR 3280.2). For purposes of §1003.4(a)(5), the term 

also includes a multifamily dwelling that is a manufactured home community. 

(m) Metropolitan Statistical Area (MSA) and Metropolitan Division (MD). 

(1) Metropolitan Statistical Area or MSA means a Metropolitan Statistical Area as defined by the 

U.S. Office of Management and Budget. 

(2) Metropolitan Division (MD) means a Metropolitan Division of an MSA, as defined by the U.S. 

Office of Management and Budget. 

(n) Multifamily dwelling means a dwelling, regardless of construction method, that contains 

five or more individual dwelling units. 

(o) Open-end line of credit means an extension of credit that: 

(1) Is secured by a lien on a dwelling; and 

(2) Is an open-end credit plan as defined in Regulation Z, 12 CFR 1026.2(a)(20), but without 

regard to whether the credit is consumer credit, as defined in §1026.2(a)(12), is extended by a 

creditor, as defined in §1026.2(a)(17), or is extended to a consumer, as defined in 

§1026.2(a)(11). 

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(p) Refinancing means a closed-end mortgage loan or an open-end line of credit in which a 

new, dwelling-secured debt obligation satisfies and replaces an existing, dwelling-secured debt 

obligation by the same borrower. 

(q) Reverse mortgage means a closed-end mortgage loan or an open-end line of credit that is 

a reverse mortgage transaction as defined in Regulation Z, 12 CFR 1026.33(a), but without 

regard to whether the security interest is created in a principal dwelling. 

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§ 1003.3 EXEMPT INSTITUTIONS AND EXCLUDED AND PARTIALLY EXEMPT TRANSACTIONS. 

(a) Exemption based on state law. 

(1) A state-chartered or state-licensed financial institution is exempt from the requirements of 

this part if the Bureau determines that the institution is subject to a state disclosure law that 

contains requirements substantially similar to those imposed by this part and that contains 

adequate provisions for enforcement. 

(2) Any state, state-chartered or state-licensed financial institution, or association of such 

institutions, may apply to the Bureau for an exemption under paragraph (a) of this section. 

(3) An institution that is exempt under paragraph (a) of this section shall use the disclosure form 

required by its state law and shall submit the data required by that law to its state supervisory 

agency for purposes of aggregation. 

(b) Loss of exemption. An institution losing a state-law exemption under paragraph (a) of this 

section shall comply with this part beginning with the calendar year following the year for which 

it last reported loan data under the state disclosure law. 

(c) Excluded transactions. The requirements of this part do not apply to: 

(1) A closed-end mortgage loan or open-end line of credit originated or purchased by a financial 

institution acting in a fiduciary capacity; 

(2) A closed-end mortgage loan or open-end line of credit secured by a lien on unimproved land; 

(3) Temporary financing; 

(4) The purchase of an interest in a pool of closed-end mortgage loans or open-end lines of 

credit; 

(5) The purchase solely of the right to service closed-end mortgage loans or open-end lines of 

credit; 

(6) The purchase of closed-end mortgage loans or open-end lines of credit as part of a merger 

or acquisition, or as part of the acquisition of all of the assets and liabilities of a branch office as 

defined in §1003.2(c); 

(7) A closed-end mortgage loan or open-end line of credit, or an application for a closed-end 

mortgage loan or open-end line of credit, for which the total dollar amount is less than $500; 

(8) The purchase of a partial interest in a closed-end mortgage loan or open-end line of credit; 

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(9) A closed-end mortgage loan or open-end line of credit used primarily for agricultural 

purposes; 

(10) A closed-end mortgage loan or open-end line of credit that is or will be made primarily for a 

business or commercial purpose, unless the closed-end mortgage loan or open-end line of 

credit is a home improvement loan under §1003.2(i), a home purchase loan under §1003.2(j), or 

a refinancing under §1003.2(p); 

(11) A closed-end mortgage loan, if the financial institution originated fewer than 25 closed-end 

mortgage loans in either of the two preceding calendar years; a financial institution may collect, 

record, report, and disclose information, as described in §§1003.4 and 1003.5, for such an 

excluded closed-end mortgage loan as though it were a covered loan, provided that the financial 

institution complies with such requirements for all applications for closed-end mortgage loans 

that it receives, closed-end mortgage loans that it originates, and closed-end mortgage loans 

that it purchases that otherwise would have been covered loans during the calendar year during 

which final action is taken on the excluded closed-end mortgage loan; 

(12) An open-end line of credit, if the financial institution originated fewer than 500 open-end 

lines of credit in either of the two preceding calendar years; a financial institution may collect, 

record, report, and disclose information, as described in §§1003.4 and 1003.5, for such an 

excluded open-end line of credit as though it were a covered loan, provided that the financial 

institution complies with such requirements for all applications for open-end lines of credit that it 

receives, open-end lines of credit that it originates, and open-end lines of credit that it purchases 

that otherwise would have been covered loans during the calendar year during which final 

action is taken on the excluded open-end line of credit; or 

(13) A transaction that provided or, in the case of an application, proposed to provide new funds 

to the applicant or borrower in advance of being consolidated in a New York State consolidation, 

extension, and modification agreement classified as a supplemental mortgage under New York 

Tax Law section 255; the transaction is excluded only if final action on the consolidation was 

taken in the same calendar year as final action on the new funds transaction. 

(d) Partially exempt transactions. (1) For purposes of this paragraph (d), the following 

definitions apply: 

(i) Insured credit union means an insured credit union as defined in section 101 of the Federal 

Credit Union Act (12 U.S.C. 1752). 

(ii) Insured depository institution means an insured depository institution as defined in section 3 

of the Federal Deposit Insurance Act (12 U.S.C. 1813). 

(iii) Optional data means the data identified in § 1003.4(a)(1)(i), (a)(9)(i), and (a)(12), (15) 

through (30), and (32) through (38). 

(iv) Partially exempt transaction means a covered loan or application that is partially exempt 

under paragraph (d)(2) or (3) of this section. 

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(2) Except as provided in paragraph (d)(6) of this section, an insured depository institution or 

insured credit union that, in each of the two preceding calendar years, originated fewer than 500 

closed-end mortgage loans that are not excluded from this part pursuant to paragraphs (c)(1) 

through (10) or paragraph (c)(13) of this section is not required to collect, record, or report 

optional data as defined in paragraph (d)(1)(iii) of this section for applications for closed-end 

mortgage loans that it receives, closed-end mortgage loans that it originates, and closed-end 

mortgage loans that it purchases. 

(3) Except as provided in paragraph (d)(6) of this section, an insured depository institution or 

insured credit union that, in each of the two preceding calendar years, originated fewer than 500 

open-end lines of credit that are not excluded from this part pursuant to paragraphs (c)(1) 

through (10) of this section is not required to collect, record, or report optional data as defined in 

paragraph (d)(1)(iii) of this section for applications for open-end lines of credit that it receives, 

open-end lines of credit that it originates, and open-end lines of credit that it purchases. 

(4) A financial institution eligible for a partial exemption under paragraph (d)(2) or (3) of this 

section may collect, record, and report optional data as defined in paragraph (d)(1)(iii) of this 

section for a partially exempt transaction as though the institution were required to do so, 

provided that: 

(i) If the institution reports the street address, city name, or Zip Code for the property securing a 

covered loan, or in the case of an application, proposed to secure a covered loan pursuant to 

§ 1003.4(a)(9)(i), it reports all data that would be required by § 1003.4(a)(9)(i) if the transaction 

were not partially exempt; 

(ii) If the institution reports any data for the transaction pursuant to § 1003.4(a)(15), (16), (17), 

(27), (33), or (35), it reports all data that would be required by § 1003.4(a)(15), (16), (17), (27), 

(33), or (35), respectively, if the transaction were not partially exempt. 

(5) If, pursuant to paragraph (d)(2) or (3) of this section, a financial institution does not report a 

universal loan identifier (ULI) pursuant to § 1003.4(a)(1)(i) for an application for a covered loan 

that it receives, a covered loan that it originates, or a covered loan that it purchases, the 

financial institution shall assign and report a non-universal loan identifier (NULI). The NULI 

must be composed of up to 22 characters to identify the covered loan or application, which: 

(i) May be letters, numerals, or a combination of letters and numerals; 

(ii) Must be unique within the annual loan/application register in which the covered loan or 

application is included; and 

(iii) Must not include any information that could be used to directly identify the applicant or 

borrower. 

(6) Paragraphs (d)(2) and (3) of this section do not apply to an insured depository institution 

that, as of the preceding December 31, had received a rating of “needs to improve record of

meeting community credit needs” during each of its two most recent examinations or a rating of 

“substantial noncompliance in meeting community credit needs” on its most recent examination 

under section 807(b)(2) of the Community Reinvestment Act of 1977 (12 U.S.C. 2906(b)(2)). 

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§ 1003.4 COMPILATION OF REPORTABLE DATA. 

(a) Data format and itemization. A financial institution shall collect data regarding applications 

for covered loans that it receives, covered loans that it originates, and covered loans that it 

purchases for each calendar year. A financial institution shall collect data regarding requests 

under a preapproval program, as defined in §1003.2(b)(2), only if the preapproval request is 

denied, is approved by the financial institution but not accepted by the applicant, or results in the 

origination of a home purchase loan. The data collected shall include the following items: 

(1) 

(i) A universal loan identifier (ULI) or, for a partially exempt transaction under § 1003.3(d), 

either a ULI or a non-universal loan identifier (NULI) as described in § 1003.3(d)(5) for the 

covered loan application that can be used to identify and retrieve the covered loan or 

application file. Except for a purchased covered loan or application described in paragraphs 

(a)(1)(i)(D) and (E) of this section, the financial institution shall assign and report a ULI that: 

(A) Begins with the financial institution's Legal Entity Identifier (LEI) that is issued by: 

(1) A utility endorsed by the LEI Regulatory Oversight Committee; or 

(2) A utility endorsed or otherwise governed by the Global LEI Foundation (GLEIF) (or 

any successor of the GLEIF) after the GLEIF assumes operational governance of the 

global LEI system. 

(B) Follows the LEI with up to 23 additional characters to identify the covered loan or 

application, which: 

(1) May be letters, numerals, or a combination of letters and numerals; 

(2) Must be unique within the financial institution; and 

(3) Must not include any information that could be used to directly identify the applicant 

or borrower; and 

(C) Ends with a two-character check digit, as prescribed in appendix C to this part. 

(D) For a purchased covered loan that any financial institution has previously assigned or 

reported with a ULI under this part, the financial institution that purchases the covered loan 

must use the ULI that was assigned or previously reported for the covered loan. 

(E) For an application that was previously reported with a ULI under this part and that 

results in an origination during the same calendar year that is reported in a subsequent 

reporting period pursuant to §1003.5(a)(1)(ii), the financial institution may report the same 

ULI for the origination that was previously reported for the application. 

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(ii) Except for purchased covered loans, the date the application was received or the date 

shown on the application form. 

(2) Whether the covered loan is, or in the case of an application would have been, insured by 

the Federal Housing Administration, guaranteed by the Department of Veterans Affairs, or 

guaranteed by the Rural Housing Service or the Farm Service Agency. 

(3) Whether the covered loan is, or the application is for, a home purchase loan, a home 

improvement loan, a refinancing, a cash-out refinancing, or for a purpose other than home 

purchase, home improvement, refinancing, or cash-out refinancing. 

(4) Whether the application or covered loan involved a request for a preapproval of a home 

purchase loan under a preapproval program. 

(5) Whether the construction method for the dwelling related to the property identified in 

paragraph (a)(9) of this section is site-built or a manufactured home. 

(6) Whether the property identified in paragraph (a)(9) of this section is or will be used by the 

applicant or borrower as a principal residence, as a second residence, or as an investment 

property. 

(7) The amount of the covered loan or the amount applied for, as applicable. 

(i) For a closed-end mortgage loan, other than a purchased loan, an assumption, or a 

reverse mortgage, the amount to be repaid as disclosed on the legal obligation. For a 

purchased closed-end mortgage loan or an assumption of a closed-end mortgage loan, the 

unpaid principal balance at the time of purchase or assumption. 

(ii) For an open-end line of credit, other than a reverse mortgage open-end line of credit, the 

amount of credit available to the borrower under the terms of the plan. 

(iii) For a reverse mortgage, the initial principal limit, as determined pursuant to section 255 

of the National Housing Act (12 U.S.C. 1715z-20) and implementing regulations and 

mortgagee letters issued by the U.S. Department of Housing and Urban Development. 

(8) The following information about the financial institution's action: 

(i) The action taken by the financial institution, recorded as one of the following: 

(A) Whether a covered loan was originated or purchased; 

(B) Whether an application for a covered loan that did not result in the origination of a 

covered loan was approved but not accepted, denied, withdrawn by the applicant, or 

closed for incompleteness; and 

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(C) Whether a preapproval request that did not result in the origination of a home 

purchase loan was denied or approved but not accepted. 

(ii) The date of the action taken by the financial institution. 

(9) The following information about the location of the property securing the covered loan or, in 

the case of an application, proposed to secure the covered loan: 

(i) The property address; and 

(ii) If the property is located in an MSA or MD in which the financial institution has a home or 

branch office, or if the institution is subject to paragraph (e) of this section, the location of the 

property by: 

(A) State; 

(B) County; and 

(C) Census tract if the property is located in a county with a population of more than 

30,000 according to the most recent decennial census conducted by the U.S. Census 

Bureau. 

(10) The following information about the applicant or borrower: 

(i) Ethnicity, race, and sex, and whether this information was collected on the basis of visual 

observation or surname; 

(ii) Age; and 

(iii) Except for covered loans or applications for which the credit decision did not consider or 

would not have considered income, the gross annual income relied on in making the credit 

decision or, if a credit decision was not made, the gross annual income relied on in 

processing the application. 

(11) The type of entity purchasing a covered loan that the financial institution originates or 

purchases and then sells within the same calendar year. 

(12) 

(i) For covered loans and applications that are approved but not accepted, and that are 

subject to Regulation Z, 12 CFR part 1026, other than assumptions, purchased covered 

loans, and reverse mortgages, the difference between the covered loan's annual percentage 

rate and the average prime offer rate for a comparable transaction as of the date the interest 

rate is set. 

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(ii) “Average prime offer rate” means an annual percentage rate that is derived from average 

interest rates and other loan pricing terms currently offered to consumers by a set of 

creditors for mortgage loans that have low-risk pricing characteristics. The Bureau publishes 

tables of average prime offer rates by transaction type at least weekly and also publishes 

the methodology it uses to derive these rates. 

(13) For covered loans subject to the Home Ownership and Equity Protection Act of 1994, as 

implemented in Regulation Z, 12 CFR 1026.32, whether the covered loan is a high-cost 

mortgage under Regulation Z, 12 CFR 1026.32(a). 

(14) The lien status (first or subordinate lien) of the property identified under paragraph (a)(9) of 

this section. 

(15) 

(i) Except for purchased covered loans, the credit score or scores relied on in making the 

credit decision and the name and version of the scoring model used to generate each credit 

score. 

(ii) For purposes of this paragraph (a)(15), “credit score” has the meaning set forth in 15

U.S.C. 1681g(f)(2)(A). 

(16) The principal reason or reasons the financial institution denied the application, if applicable. 

(17) For covered loans subject to Regulation Z, 12 CFR 1026.43(c), the following information: 

(i) If a disclosure is provided for the covered loan pursuant to Regulation Z, 12 CFR 

1026.19(f), the amount of total loan costs, as disclosed pursuant to Regulation Z, 12 CFR 

1026.38(f)(4); or 

(ii) If the covered loan is not subject to the disclosure requirements in Regulation Z, 12 CFR 

1026.19(f), and is not a purchased covered loan, the total points and fees charged in 

connection with the covered loan, expressed in dollars and calculated pursuant to 

Regulation Z, 12 CFR 1026.32(b)(1). 

(18) For covered loans subject to the disclosure requirements in Regulation Z, 12 CFR 

1026.19(f), the total of all itemized amounts that are designated borrower-paid at or before 

closing, as disclosed pursuant to Regulation Z, 12 CFR 1026.38(f)(1). 

(19) For covered loans subject to the disclosure requirements in Regulation Z, 12 CFR 

1026.19(f), the points paid to the creditor to reduce the interest rate, expressed in dollars, as 

described in Regulation Z, 12 CFR 1026.37(f)(1)(i), and disclosed pursuant to Regulation Z, 12 

CFR 1026.38(f)(1). 

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(20) For covered loans subject to the disclosure requirements in Regulation Z, 12 CFR 

1026.19(f), the amount of lender credits, as disclosed pursuant to Regulation Z, 12 CFR 

1026.38(h)(3). 

(21) The interest rate applicable to the approved application, or to the covered loan at closing or 

account opening. 

(22) For covered loans or applications subject to Regulation Z, 12 CFR part 1026, other than 

reverse mortgages or purchased covered loans, the term in months of any prepayment penalty, 

as defined in Regulation Z, 12 CFR 1026.32(b)(6)(i) or (ii), as applicable. 

(23) Except for purchased covered loans, the ratio of the applicant's or borrower's total monthly 

debt to the total monthly income relied on in making the credit decision. 

(24) Except for purchased covered loans, the ratio of the total amount of debt secured by the 

property to the value of the property relied on in making the credit decision. 

(25) The scheduled number of months after which the legal obligation will mature or terminate or 

would have matured or terminated. 

(26) The number of months, or proposed number of months in the case of an application, until 

the first date the interest rate may change after closing or account opening. 

(27) Whether the contractual terms include or would have included any of the following: 

(i) A balloon payment as defined in Regulation Z, 12 CFR 1026.18(s)(5)(i); 

(ii) Interest-only payments as defined in Regulation Z, 12 CFR 1026.18(s)(7)(iv); 

(iii) A contractual term that would cause the covered loan to be a negative amortization loan 

as defined in Regulation Z, 12 CFR 1026.18(s)(7)(v); or 

(iv) Any other contractual term that would allow for payments other than fully amortizing 

payments, as defined in Regulation Z, 12 CFR 1026.43(b)(2), during the loan term, other 

than the contractual terms described in this paragraph (a)(27)(i), (ii), and (iii). 

(28) The value of the property securing the covered loan or, in the case of an application, 

proposed to secure the covered loan relied on in making the credit decision. 

(29) If the dwelling related to the property identified in paragraph (a)(9) of this section is a 

manufactured home and not a multifamily dwelling, whether the covered loan is, or in the case 

of an application would have been, secured by a manufactured home and land, or by a 

manufactured home and not land. 

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(30) If the dwelling related to the property identified in paragraph (a)(9) of this section is a 

manufactured home and not a multifamily dwelling, whether the applicant or borrower: 

(i) Owns the land on which it is or will be located or, in the case of an application, did or 

would have owned the land on which it would have been located, through a direct or indirect 

ownership interest; or 

(ii) Leases or, in the case of an application, leases or would have leased the land through a 

paid or unpaid leasehold. 

(31) The number of individual dwelling units related to the property securing the covered loan or, 

in the case of an application, proposed to secure the covered loan. 

(32) If the property securing the covered loan or, in the case of an application, proposed to 

secure the covered loan includes a multifamily dwelling, the number of individual dwelling units 

related to the property that are income-restricted pursuant to Federal, State, or local affordable 

housing programs. 

(33) Except for purchased covered loans, the following information about the application 

channel of the covered loan or application: 

(i) Whether the applicant or borrower submitted the application for the covered loan directly 

to the financial institution; and 

(ii) Whether the obligation arising from the covered loan was, or in the case of an
 

application, would have been initially payable to the financial institution.
 

(34) For a covered loan or application, the unique identifier assigned by the Nationwide 

Mortgage Licensing System and Registry for the mortgage loan originator, as defined in 

Regulation G, 12 CFR 1007.102, or Regulation H, 12 CFR 1008.23, as applicable. 

(35) 

(i) Except for purchased covered loans, the name of the automated underwriting system 

used by the financial institution to evaluate the application and the result generated by that 

automated underwriting system. 

(ii) For purposes of this paragraph (a)(35), an “automated underwriting system” means an

electronic tool developed by a securitizer, Federal government insurer, or Federal 

government guarantor of closed-end mortgage loans or open-end lines of credit that 

provides a result regarding the credit risk of the applicant and whether the covered loan is 

eligible to be originated, purchased, insured, or guaranteed by that securitizer, Federal 

government insurer, or Federal government guarantor. A person is a securitizer, Federal 

government insurer, or Federal government guarantor of closed-end mortgage loans or 

open-end lines of credit, respectively, if it has ever securitized, provided Federal government 

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insurance, or provided a Federal government guarantee for a closed-end mortgage loan or 

open-end line of credit. 

(36) Whether the covered loan is, or the application is for, a reverse mortgage. 

(37) Whether the covered loan is, or the application is for, an open-end line of credit. 

(38) Whether the covered loan is, or the application is for a covered loan that will be, made 

primarily for a business or commercial purpose. 

(b) Collection of data on ethnicity, race, sex, age, and income. 

(1) A financial institution shall collect data about the ethnicity, race, and sex of the applicant or 

borrower as prescribed in appendix B to this part. 

(2) Ethnicity, race, sex, age, and income data may but need not be collected for covered loans 

purchased by a financial institution. 

(c)-(d) [Reserved] 

(e) Data reporting for banks and savings associations that are required to report data on 

small business, small farm, and community development lending under CRA. Banks and 

savings associations that are required to report data on small business, small farm, and 

community development lending under regulations that implement the Community 

Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) shall also collect the information required by 

paragraph 4(a)(9)(ii) of this section for property located outside MSAs and MDs in which the 

institution has a home or branch office, or outside any MSA. 

(f) Quarterly recording of data. A financial institution shall record the data collected pursuant 

to this section on a loan/application register within 30 calendar days after the end of the 

calendar quarter in which final action is taken (such as origination or purchase of a covered 

loan, sale of a covered loan in the same calendar year it is originated or purchased, or denial or 

withdrawal of an application). 

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§ 1003.5 DISCLOSURE AND REPORTING. 

(a) Reporting to agency. 

(1)(i) Annual reporting. By March 1 following the calendar year for which data are collected and 

recorded as required by§ 1003.4, a financial institution shall submit its annual loan/application 

register in electronic format to the appropriate Federal agency at the address identified by such 

agency. An authorized representative of the financial institution with knowledge of the data 

submitted shall certify to the accuracy and completeness of data submitted pursuant to this 

paragraph (a)(1)(i). The financial institution shall retain a copy of its annual loan/ application 

register submitted pursuant to this paragraph (a)(1)(i) for its records for at least three years. 

(ii) [Reserved] 

(iii) When the last day for submission of data prescribed under this paragraph (a)(1) falls on a 

Saturday or Sunday, a submission shall be considered timely if it is submitted on the next 

succeeding Monday. 

(2) A financial institution that is a subsidiary of a bank or savings association shall complete a 

separate loan/application register. The subsidiary shall submit the loan/application register, 

directly or through its parent, to the appropriate Federal agency for the subsidiary’s parent at the 

address identified by the agency. 

(3) A financial institution shall provide with its submission: 

(i) Its name; 

(ii) The calendar year the data submission covers pursuant to paragraph (a)(1)(i) of this section; 

(iii) The name and contact information of a person who may be contacted with questions about 

the institution’s submission;

(iv) Its appropriate Federal agency; 

(v) The total number of entries contained in the submission; 

(vi) Its Federal Taxpayer Identification number; and 

(vii) Its Legal Entity Identifier (LEI) as described in § 1003.4(a)(1)(i)(A). 

(4) For purposes of paragraph (a) of this section, ‘‘appropriate Federal agency’’ means the

appropriate agency for the financial institution as determined pursuant to section 304(h)(2) of 

the Home Mortgage Disclosure Act (12 U.S.C. 2803(h)(2)) or, with respect to a financial 

institution subject to the Bureau’s supervisory authority under section 1025(a) of the Consumer

Financial Protection Act of 2010 (12 U.S.C. 5515(a)), the Bureau. 

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(5) Procedures for the submission of data pursuant to paragraph (a) of this section are available 

at www.consumerfinance.gov/hmda. 

(b) Disclosure statement. 

(1) The Federal Financial Institutions Examination Council (FFIEC) will make available a 

disclosure statement based on the data each financial institution submits for the preceding 

calendar year pursuant to paragraph (a)(1)(i) of this section. 

(2) No later than three business days after receiving notice from the FFIEC that a financial 

institution's disclosure statement is available, the financial institution shall make available to the 

public upon request at its home office, and each branch office physically located in each MSA 

and each MD, a written notice that clearly conveys that the institution's disclosure statement 

may be obtained on the Bureau's Web site at www.consumerfinance.gov/hmda. 

(c) Modified loan/application register. 

(1) A financial institution shall make available to the public upon request at its home office, and 

each branch office physically located in each MSA and each MD, a written notice that clearly 

conveys that the institution's loan/application register, as modified by the Bureau to protect 

applicant and borrower privacy, may be obtained on the Bureau's Web site at 

www.consumerfinance.gov/hmda. 

(2) A financial institution shall make available the notice required by paragraph (c)(1) of this 

section following the calendar year for which the data are collected. 

(d) Availability of written notices. 

(1) A financial institution shall make the notice required by paragraph (c) of this section available 

to the public for a period of three years and the notice required by paragraph (b)(2) of this 

section available to the public for a period of five years. An institution shall make these notices 

available during the hours the office is normally open to the public for business. 

(2) A financial institution may make available to the public, at its discretion and in addition to the 

written notices required by paragraphs (b)(2) or (c)(1) of this section, as applicable, its 

disclosure statement or its loan/application register, as modified by the Bureau to protect 

applicant and borrower privacy. A financial institution may impose a reasonable fee for any cost 

incurred in providing or reproducing these data. 

(e) Posted notice of availability of data. A financial institution shall post a general notice 

about the availability of its HMDA data in the lobby of its home office and of each branch office 

physically located in each MSA and each MD. This notice must clearly convey that the 

institution's HMDA data is available on the Bureau's Web site at 

www.consumerfinance.gov/hmda. 

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(f) Aggregated data. Using data submitted by financial institutions pursuant to paragraph 

(a)(1)(i) of this section, the FFIEC will make available aggregate data for each MSA and MD, 

showing lending patterns by property location, age of housing stock, and income level, sex, 

ethnicity, and race. 

§ 1003.6 ENFORCEMENT. 

(a) Administrative enforcement. A violation of the Act or this part is subject to administrative 

sanctions as provided in section 305 of the Act (12 U.S.C. 2804), including the imposition of civil 

money penalties, where applicable. Compliance is enforced by the agencies listed in section 

305 of the Act. 

(b) Bona fide errors. 

(1) An error in compiling or recording data for a covered loan or application is not a violation of 

the Act or this part if the error was unintentional and occurred despite the maintenance of 

procedures reasonably adapted to avoid such an error. 

(2) An incorrect entry for a census tract number is deemed a bona fide error, and is not a 

violation of the Act or this part, provided that the financial institution maintains procedures 

reasonably adapted to avoid such an error. 

(c) Quarterly recording and reporting. 

If a financial institution makes a good-faith effort to record all data required to be recorded 

pursuant to § 1003.4(f) fully and accurately within 30 calendar days after the end of each 

calendar quarter, and some data are nevertheless inaccurate or incomplete, the inaccuracy or 

omission is not a violation of the Act or this part provided that the institution corrects or 

completes the data prior to submitting its annual loan/application register pursuant to 

§ 1003.5(a)(1)(i). 

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APPENDIX A TOPART 1003

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—[Reserved] 

APPENDIX B TO PART 1003—FORM AND INSTRUCTIONS FOR DATA COLLECTION ON ETHNICITY, 

RACE, AND SEX 

You may list questions regarding the ethnicity, race, and sex of the applicant on your loan 

application form, or on a separate form that refers to the application. (See the sample data 

collection form below for model language.) 

1. You must ask the applicant for this information (but you cannot require the applicant to 

provide it) whether the application is taken in person, by mail or telephone, or on the 

internet. For applications taken by telephone, you must state the information in the collection 

form orally, except for that information which pertains uniquely to applications taken in 

writing, for example, the italicized language in the sample data collection form. 

2. Inform the applicant that Federal law requires this information to be collected in order to 

protect consumers and to monitor compliance with Federal statutes that prohibit 

discrimination against applicants on these bases. Inform the applicant that if the information 

is not provided where the application is taken in person, you are required to note the 

information on the basis of visual observation or surname. 

3. If you accept an application through electronic media with a video component, you must 

treat the application as taken in person. If you accept an application through electronic 

media without a video component (for example, facsimile), you must treat the application as 

accepted by mail. 

4. For purposes of §1003.4(a)(10)(i), if a covered loan or application includes a guarantor, 

you do not report the guarantor's ethnicity, race, and sex. 

5. If there are no co-applicants, you must report that there is no co-applicant. If there is more 

than one co-applicant, you must provide the ethnicity, race, and sex only for the first coapplicant listed on the collection form. A co-applicant may provide an absent co-applicant's 

ethnicity, race, and sex on behalf of the absent co-applicant. If the information is not 

provided for an absent co-applicant, you must report “information not provided by applicant

in mail, internet, or telephone application” for the absent co-applicant. 

6. When you purchase a covered loan and you choose not to report the applicant's or coapplicant's ethnicity, race, and sex, you must report that the requirement is not applicable. 

7. You must report that the requirement to report the applicant's or co-applicant's ethnicity, 

race, and sex is not applicable when the applicant or co-applicant is not a natural person (for 

example, a corporation, partnership, or trust). For example, for a transaction involving a 

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Ethnicity—Other subcategories. An applicant may select the Other Hispanic or Latino 

ethnicity subcategory, an applicant may provide a particular Hispanic or Latino ethnicity 

not listed in the standard subcategories, or an applicant may do both. If the applicant 

provides only a particular Hispanic or Latino ethnicity in the space provided, you are 

permitted, but are not required, to report Other Hispanic or Latino in addition to reporting 

the particular Hispanic or Latino ethnicity provided by the applicant. For example, if an 

applicant provides only “Dominican,” you should report “Dominican.” You are permitted,

but not required, to report Other Hispanic or Latino as well. If an applicant selects the 

Other Hispanic or Latino ethnicity subcategory and also provides a particular Hispanic or 

trust, you must report that the requirement to report the applicant's ethnicity, race, and sex is 

not applicable if the trust is the applicant. On the other hand, if the applicant is a natural 

person, and is the beneficiary of a trust, you must report the applicant's ethnicity, race, and 

sex. 

8. You must report the ethnicity, race, and sex of an applicant as provided by the applicant. 

For example, if an applicant selects the “Asian” box the institution reports “Asian” for the

race of the applicant. Only an applicant may self-identify as being of a particular Hispanic or 

Latino subcategory (Mexican, Puerto Rican, Cuban, Other Hispanic or Latino) or of a 

particular Asian subcategory (Asian Indian, Chinese, Filipino, Japanese, Korean, 

Vietnamese, Other Asian) or of a particular Native Hawaiian or Other Pacific Islander 

subcategory (Native Hawaiian, Guamanian or Chamorro, Samoan, Other Pacific Islander) or 

of a particular American Indian or Alaska Native enrolled or principal tribe. An applicant may 

select an ethnicity or race subcategory even if the applicant does not select an aggregate 

ethnicity or aggregate race category. For example, if an applicant selects only the “Mexican”

box, the institution reports “Mexican” for the ethnicity of the applicant but does not also

report “Hispanic or Latino.”

9. You must offer the applicant the option of selecting more than one ethnicity or race. If an 

applicant selects more than one ethnicity or race, you must report each selected 

designation, subject to the limits described below. 

i. Ethnicity—Aggregate categories and subcategories. There are two aggregate ethnicity 

categories: Hispanic or Latino; and Not Hispanic or Latino. The Hispanic or Latino 

category has four subcategories: Mexican; Puerto Rican; Cuban; and Other Hispanic or 

Latino. You must report every aggregate ethnicity category selected by the applicant. If the 

applicant also selects one or more ethnicity subcategories, you must report each ethnicity 

subcategory selected by the applicant, except that you must not report more than a total of 

five aggregate ethnicity categories and ethnicity subcategories combined. For example, if 

the applicant selects both aggregate ethnicity categories and also selects all four ethnicity 

subcategories, you must report Hispanic or Latino, Not Hispanic or Latino, and any three, 

at your option, of the four ethnicity subcategories selected by the applicant. To determine 

how to report the Other Hispanic or Latino ethnicity subcategory for purposes of the fiveethnicity maximum, see paragraph 9.ii below. 

ii. 

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Latino ethnicity not listed in the standard subcategories, you must report both the selection 

of Other Hispanic or Latino and the additional information provided by the applicant, 

subject to the five-ethnicity maximum. For purposes of the maximum of five reportable 

ethnicity categories and ethnicity subcategories combined, as set forth in paragraph 9.i, 

the Other Hispanic or Latino subcategory and additional information provided by the 

applicant together constitute only one selection. For example, if the applicant selects Other 

Hispanic or Latino and enters “Dominican” in the space provided, Other Hispanic or Latino

and “Dominican” are considered one selection. Similarly, if the applicant only enters 

“Dominican” in the space provided and you report both “Dominican” and Other Hispanic or

Latino as permitted by this paragraph 9.ii, the reported items together are considered one 

selection. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

iii. Race—Aggregate categories and subcategories. There are five aggregate race 

categories: American Indian or Alaska Native; Asian; Black or African American; Native 

Hawaiian or Other Pacific Islander; and White. The Asian and the Native Hawaiian or 

Other Pacific Islander aggregate categories have seven and four subcategories, 

respectively. The Asian race subcategories are: Asian Indian; Chinese; Filipino; Japanese; 

Korean; Vietnamese; and Other Asian. The Native Hawaiian or Other Pacific Islander race 

subcategories are: Native Hawaiian; Guamanian or Chamorro; Samoan; and Other Pacific 

Islander. You must report every aggregate race category selected by the applicant. If the 

applicant also selects one or more race subcategories, you must report each race 

subcategory selected by the applicant, except that you must not report more than a total of 

five aggregate race categories and race subcategories combined. For example, if the 

applicant selects all five aggregate race categories and also selects some race 

subcategories, you report only the five aggregate race categories. On the other hand, if 

the applicant selects the White, Asian, and Native Hawaiian or Other Pacific Islander 

aggregate race categories, and the applicant also selects the Korean, Vietnamese, and 

Samoan race subcategories, you must report White, Asian, Native Hawaiian or Other 

Pacific Islander, and any two, at your option, of the three race subcategories selected by 

the applicant. In this example, you must report White, Asian, and Native Hawaiian or Other 

Pacific Islander, and in addition you must report (at your option) either Korean and 

Vietnamese, Korean and Samoan, or Vietnamese and Samoan. To determine how to 

report an Other race subcategory and the American Indian or Alaska Native category for 

purposes of the five-race maximum, see paragraphs 9.iv and 9.v below. 

iv. Race—Other subcategories. An applicant may select the Other Asian race subcategory 

or the Other Pacific Islander race subcategory, an applicant may provide a particular Asian 

race or Pacific Islander race not listed in the standard subcategories, or an applicant may 

do both. If the applicant provides only a particular Asian race or Pacific Islander race in the 

space provided, you are permitted, but are not required, to report Other Asian or Other 

Pacific Islander, as applicable, in addition to reporting the particular Asian race or Pacific 

Islander race provided by the applicant. For example, if an applicant provides only 

“Hmong,” you should report “Hmong.” You are permitted, but not required, to report Other 

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Asian as well. If an applicant selects the Other Asian race or the Other Pacific Islander 

race subcategory and provides a particular Asian race or Pacific Islander race not listed in 

the standard subcategories, you must report both the selection of Other Asian or Other 

Pacific Islander, as applicable, and the additional information provided by the applicant, 

subject to the five-race maximum. For purposes of the maximum of five reportable race 

categories and race subcategories combined, as set forth in paragraph 9.iii, the Other race 

subcategory and additional information provided by the applicant together constitute only 

one selection. Thus, using the same facts in the example offered in paragraph 9.iii above, 

if the applicant also selects Other Asian and enters “Thai” in the space provided, Other

Asian and Thai are considered one selection. Similarly, if the applicant enters only “Thai”

in the space provided and you report both “Thai” and Other Asian as permitted by this 

paragraph 9.iv, the reported items together are considered one selection. In the same 

example, you must report any two (at your option) of the four race subcategories selected 

by the applicant, Korean, Vietnamese, Other Asian-Thai, and Samoan, in addition to the 

three aggregate race categories selected by the applicant. 

v. Race—American Indian or Alaska Native category. An applicant may select the 

American Indian or Alaska Native race category, an applicant may provide a particular 

American Indian or Alaska Native enrolled or principal tribe, or an applicant may do both. If 

the applicant provides only a particular American Indian or Alaska Native enrolled or 

principal tribe in the space provided, you are permitted, but are not required, to report 

American Indian or Alaska Native in addition to reporting the particular American Indian or 

Alaska Native enrolled or principal tribe provided by the applicant. For example, if an 

applicant provides only “Navajo,” you should report “Navajo.” You are permitted, but not 

required, to report American Indian or Alaska Native as well. If an applicant selects the 

American Indian or Alaska Native race category and also provides a particular American 

Indian or Alaska Native enrolled or principal tribe, you must report both the selection of 

American Indian or Alaska Native and the additional information provided by the applicant. 

For purposes of the maximum of five reportable race categories and race subcategories 

combined, as set forth in paragraph 9.iii, the American Indian or Alaska Native category 

and additional information provided by the applicant together constitute only one selection. 

10. If the applicant chooses not to provide the information for an application taken in person, 

note this fact on the collection form and then collect the applicant's ethnicity, race, and sex 

on the basis of visual observation or surname. You must report whether the applicant's 

ethnicity, race, and sex was collected on the basis of visual observation or surname. When 

you collect an applicant's ethnicity, race, and sex on the basis of visual observation or 

surname, you must select from the following aggregate categories: Ethnicity (Hispanic or 

Latino; not Hispanic or Latino); race (American Indian or Alaska Native; Asian; Black or 

African American; Native Hawaiian or Other Pacific Islander; White); sex (male; female). 

11. If the applicant declines to answer these questions by checking the “I do not wish to 

provide this information” box on an application that is taken by mail or on the internet, or 

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declines to provide this information by stating orally that he or she does not wish to provide 

this information on an application that is taken by telephone, you must report “information

not provided by applicant in mail, internet, or telephone application.”

12. If the applicant begins an application by mail, internet, or telephone, and does not 

provide the requested information on the application but does not check or select the “I do

not wish to provide this information” box on the application, and the applicant meets in 

person with you to complete the application, you must request the applicant's ethnicity, race, 

and sex. If the applicant does not provide the requested information during the in-person 

meeting, you must collect the information on the basis of visual observation or surname. If 

the meeting occurs after the application process is complete, for example, at closing or 

account opening, you are not required to obtain the applicant's ethnicity, race, and sex. 

13. When an applicant provides the requested information for some but not all fields, you 

report the information that was provided by the applicant, whether partial or complete. If an 

applicant provides partial or complete information on ethnicity, race, and sex and also 

checks the “I do not wish to provide this information” box on an application that is taken by

mail or on the internet, or makes that selection when applying by telephone, you must report 

the information on ethnicity, race, and sex that was provided by the applicant. 

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H-24 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

APPENDIX C TO PART 1003—PROCEDURES FOR GENERATING A CHECK DIGIT AND VALIDATING A 

ULI 

The check digit for the Universal Loan Identifier (ULI) pursuant to §1003.4(a)(1)(i)(C) is 

calculated using the ISO/IEC 7064, MOD 97-10 as it appears on the International Standard 

ISO/IEC 7064:2003, which is published by the International Organization for Standardization 

(ISO). 

©ISO. This material is reproduced from ISO/IEC 7064:2003 with permission of the American 

National Standards Institute (ANSI) on behalf of ISO. All rights reserved. 

Generating a Check Digit 

Step 1: Starting with the leftmost character in the string that consists of the combination of the 

Legal Entity Identifier (LEI) pursuant to §1003.4(a)(1)(i)(A) and the additional characters 

identifying the covered loan or application pursuant to §1003.4(a)(1)(i)(B), replace each 

alphabetic character with numbers in accordance with Table I below to obtain all numeric values 

in the string. 

Table I—Alphabetic to Numeric Conversion Table 

The alphabetic characters are not case-sensitive and each letter, whether it is capitalized or in 

lower-case, is equal to the same value as each letter illustrates in the conversion table. For 

example, A and a are each equal to 10. 

A = 10 

B = 11 

C = 12 

D = 13 

E = 14 

F = 15 

G = 16 

H = 17 

H-25 
I = 18
 

J = 19
 K = 20
 

L = 21
 M = 22
 N = 23
 O = 24
 P = 25
 Q = 26
 R = 27
 S = 28
 

T = 29
 U = 30
 V = 31
 

W = 32
 

X = 33
 Y = 34
 

Z = 35
 

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Step 2: After converting the combined string of characters to all numeric values, append two 

zeros to the rightmost positions. 

Step 3: Apply the mathematical function mod = (n,97) where n = the number obtained in step 2 

above and 97 is the divisor. 

Alternatively, to calculate without using the modulus operator, divide the numbers in step 2 

above by 97. Truncate the remainder to three digits and multiply it by 97. Round the result to the 

nearest whole number. 

Step 4: Subtract the result in step 3 from 98. If the result is one digit, add a leading 0 to make it 

two digits. 

Step 5: The two digits in the result from step 4 is the check digit. Append the resulting check 

digit to the rightmost position in the combined string of characters described in step 1 above to 

generate the ULI. 

Example 

For example, assume the LEI for a financial institution is 10Bx939c5543TqA1144M and the 

financial institution assigned the following string of characters to identify the covered loan: 

999143X. The combined string of characters is 10Bx939c5543TqA1144M999143X. 

Step 1: Starting with the leftmost character in the combined string of characters, replace each 

alphabetic character with numbers in accordance with Table I above to obtain all numeric values 

in the string. The result is 10113393912554329261011442299914333. 

Step 2: Append two zeros to the rightmost positions in the combined string. The result is 

1011339391255432926101144229991433300. 

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Step 3: Apply the mathematical function mod = (n,97) where n = the number obtained in step 2 

above and 97 is the divisor. The result is 60. 

Alternatively, to calculate without using the modulus operator, divide the numbers in step 2 

above by 97. The result is 1042617929129312294946332267952920.618556701030928. 

Truncate the remainder to three digits, which is .618, and multiply it by 97. The result is 59.946. 

Round this result to the nearest whole number, which is 60. 

Step 4: Subtract the result in step 3 from 98. The result is 38. 

Step 5: The two digits in the result from step 4 is the check digit. Append the check digit to the 

rightmost positions in the combined string of characters that consists of the LEI and the string of 

characters assigned by the financial institution to identify the covered loan to obtain the ULI. In 

this example, the ULI would be 10Bx939c5543TqA1144M999143X38. 

Validating A ULI 

To determine whether the ULI contains a transcription error using the check digit calculation, the 

procedures are described below. 

Step 1: Starting with the leftmost character in the ULI, replace each alphabetic character with 

numbers in accordance with Table I above to obtain all numeric values in the string. 

Step 2: Apply the mathematical function mod=(n,97) where n=the number obtained in step 1 

above and 97 is the divisor. 

Step 3: If the result is 1, the ULI does not contain transcription errors. 

Example 

For example, the ULI assigned to a covered loan is 10Bx939c5543TqA1144M999143X38. 

Step 1: Starting with the leftmost character in the ULI, replace each alphabetic character with 

numbers in accordance with Table I above to obtain all numeric values in the string. The result 

is 1011339391255432926101144229991433338. 

Step 2: Apply the mathematical function mod=(n,97) where n is the number obtained in step 1 

above and 97 is the divisor. 

Step 3: The result is 1. The ULI does not contain transcription errors. 

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Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

 

APPENDIX I: Official Interpretations to Regulation C 

The following is a copy of the commentary to Regulation C. This copy is current as 

January 9, 2020. This appendix is a compilation of material and not an official legal 

edition of the Code of Federal Regulations or the Federal Register. We have made 

every effort to ensure the material presented in this tool is accurate, but if you are 

relying on it for legal research you should consult the official editions of those sources 

to confirm your findings. 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplement I to Part 1003—Official Interpretations 

INTRODUCTION 

1. Status. The commentary in this supplement is the vehicle by which the Bureau of Consumer 

Financial Protection issues formal interpretations of Regulation C (12 CFR part 1003). 

SECTION 1003.2—DEFINITIONS 

2(B) APPLICATION 

1. Consistency with Regulation B. Bureau interpretations that appear in the official commentary 

to Regulation B (Equal Credit Opportunity Act, 12 CFR part 1002, Supplement I) are generally 

applicable to the definition of application under Regulation C. However, under Regulation C the 

definition of an application does not include prequalification requests. 

2. Prequalification. A prequalification request is a request by a prospective loan applicant (other 

than a request for preapproval) for a preliminary determination on whether the prospective loan 

applicant would likely qualify for credit under an institution's standards, or for a determination on 

the amount of credit for which the prospective applicant would likely qualify. Some institutions 

evaluate prequalification requests through a procedure that is separate from the institution's 

normal loan application process; others use the same process. In either case, Regulation C 

does not require an institution to report prequalification requests on the loan/application register, 

even though these requests may constitute applications under Regulation B for purposes of 

adverse action notices. 

3. Requests for preapproval. To be a preapproval program as defined in § 1003.2(b)(2), the 

written commitment issued under the program must result from a comprehensive review of the 

creditworthiness of the applicant, including such verification of income, resources, and other 

matters as is typically done by the institution as part of its normal credit evaluation program. In 

addition to conditions involving the identification of a suitable property and verification that no 

material change has occurred in the applicant's financial condition or creditworthiness, the 

written commitment may be subject only to other conditions (unrelated to the financial condition 

or creditworthiness of the applicant) that the lender ordinarily attaches to a traditional home 

mortgage application approval. These conditions are limited to conditions such as requiring an 

acceptable title insurance binder or a certificate indicating clear termite inspection, and, in the 

case where the applicant plans to use the proceeds from the sale of the applicant's present 

home to purchase a new home, a settlement statement showing adequate proceeds from the 

sale of the present home. Regardless of its name, a program that satisfies the definition of a 

preapproval program in § 1003.2(b)(2) is a preapproval program for purposes of Regulation C. 

Conversely, a program that a financial institution describes as a “preapproval program” that 

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does not satisfy the requirements of § 1003.2(b)(2) is not a preapproval program for purposes of 

Regulation C. If a financial institution does not regularly use the procedures specified in 

§ 1003.2(b)(2), but instead considers requests for preapprovals on an ad hoc basis, the financial 

institution need not treat ad hoc requests as part of a preapproval program for purposes of 

Regulation C. A financial institution should, however, be generally consistent in following 

uniform procedures for considering such ad hoc requests. 

2(C) BRANCH OFFICE 

Paragraph 2(c)(1) 

1. Credit unions. For purposes of Regulation C, a “branch” of a credit union is any office where 

member accounts are established or loans are made, whether or not the office has been 

approved as a branch by a Federal or State agency. (See 12 U.S.C. 1752.) 

2. Bank, savings association, or credit unions. A branch office of a bank, savings association, or 

credit union does not include a loan-production office if the loan-production office is not 

considered a branch by the Federal or State supervisory authority applicable to that institution. 

A branch office also does not include the office of an affiliate or of a third party, such as a thirdparty broker. 

Paragraph 2(c)(2) 

1. General. A branch office of a for-profit mortgage lending institution, other than a bank savings 

association or credit union, does not include the office of an affiliate or of a third party, such as a 

third-party broker. 

2(D) CLOSED-END MORTGAGE LOAN 

1. Dwelling-secured. Section 1003.2(d) defines a closed-end mortgage loan as an extension of 

credit that is secured by a lien on a dwelling and that is not an open-end line of credit under 

§1003.2(o). Thus, for example, a loan to purchase a dwelling and secured only by a personal 

guarantee is not a closed-end mortgage loan because it is not dwelling-secured. 

2. Extension of credit. Under § 1003.2(d), a dwelling-secured loan is not a closed-end mortgage 

loan unless it involves an extension of credit. For example, some transactions completed 

pursuant to installment sales contracts, such as some land contracts, depending on the facts 

and circumstances, may or may not involve extensions of credit rendering the transactions 

closed-end mortgage loans. In general, extension of credit under § 1003.2(d) refers to the 

granting of credit only pursuant to a new debt obligation. Thus, except as described in 

comments 2(d)-2.i and .ii, if a transaction modifies, renews, extends, or amends the terms of an 

existing debt obligation, but the existing debt obligation is not satisfied and replaced, the 

transaction is not a closed-end mortgage loan under § 1003.2(d) because there has been no 

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new extension of credit. The phrase extension of credit thus is defined differently under 

Regulation C than under Regulation B, 12 CFR part 1002. 

i. Assumptions. For purposes of Regulation C, an assumption is a transaction in which an 

institution enters into a written agreement accepting a new borrower in place of an existing 

borrower as the obligor on an existing debt obligation. For purposes of Regulation C, 

assumptions include successor-in-interest transactions, in which an individual succeeds the 

prior owner as the property owner and then assumes the existing debt secured by the 

property. Under § 1003.2(d), assumptions are extensions of credit even if the new borrower 

merely assumes the existing debt obligation and no new debt obligation is created. See also 

comment 2(j)-5. 

ii. New York State consolidation, extension, and modification agreements. A transaction 

completed pursuant to a New York State consolidation, extension, and modification 

agreement and classified as a supplemental mortgage under New York Tax Law section 

255, such that the borrower owes reduced or no mortgage recording taxes, is an extension 

of credit under § 1003.2(d). Comments 2(i)-1, 2(j)-5, and 2(p)-2 clarify whether such 

transactions are home improvement loans, home purchase loans, or refinancings, 

respectively. Section 1003.3(c)(13) provides an exclusion from the reporting requirement for 

a preliminary transaction providing or, in the case of an application, proposing to provide 

new funds to the borrower in advance of being consolidated within the same calendar year 

into a supplemental mortgage under New York Tax Law section 255. See comment 3(c)(13)-

1 concerning how to report a supplemental mortgage under New York Tax Law section 255 

in this situation. 

2(F) DWELLING 

1. General. The definition of a dwelling is not limited to the principal or other residence of the 

applicant or borrower, and thus includes vacation or second homes and investment properties. 

2. Multifamily residential structures and communities. A dwelling also includes a multifamily 

residential structure or community such as an apartment, condominium, cooperative building or 

housing complex, or a manufactured home community. A loan related to a manufactured home 

community is secured by a dwelling for purposes of § 1003.2(f) even if it is not secured by any 

individual manufactured homes, but only by the land that constitutes the manufactured home 

community including sites for manufactured homes. However, a loan related to a multifamily 

residential structure or community that is not a manufactured home community is not secured 

by a dwelling for purposes of § 1003.2(f) if it is not secured by any individual dwelling units and 

is, for example, instead secured only by property that only includes common areas, or is 

secured only by an assignment of rents or dues. 

3. Exclusions. Recreational vehicles, including boats, campers, travel trailers, and park model 

recreational vehicles, are not considered dwellings for purposes of § 1003.2(f), regardless of 

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whether they are used as residences. Houseboats, floating homes, and mobile homes 

constructed before June 15, 1976, are also excluded, regardless of whether they are used as 

residences. Also excluded are transitory residences such as hotels, hospitals, college 

dormitories, and recreational vehicle parks, and structures originally designed as dwellings but 

used exclusively for commercial purposes, such as homes converted to daycare facilities or 

professional offices. 

4. Mixed-use properties. A property used for both residential and commercial purposes, such as 

a building containing apartment units and retail space, is a dwelling if the property's primary use 

is residential. An institution may use any reasonable standard to determine the primary use of 

the property, such as by square footage or by the income generated. An institution may select 

the standard to apply on a case-by-case basis. 

5. Properties with service and medical components. For purposes of § 1003.2(f), a property 

used for both long-term housing and to provide related services, such as assisted living for 

senior citizens or supportive housing for persons with disabilities, is a dwelling and does not 

have a non-residential purpose merely because the property is used for both housing and to 

provide services. However, transitory residences that are used to provide such services are not 

dwellings. See comment 2(f)-3. Properties that are used to provide medical care, such as skilled 

nursing, rehabilitation, or long-term medical care, also are not dwellings. See comment 2(f)-3. If 

a property that is used for both long-term housing and to provide related services also is used to 

provide medical care, the property is a dwelling if its primary use is residential. An institution 

may use any reasonable standard to determine the property's primary use, such as by square 

footage, income generated, or number of beds or units allocated for each use. An institution 

may select the standard to apply on a case-by-case basis. 

2(G) FINANCIAL INSTITUTION 

1. Preceding calendar year and preceding December 31. The definition of financial institution 

refers both to the preceding calendar year and the preceding December 31. These terms refer 

to the calendar year and the December 31 preceding the current calendar year. For example, in 

2019, the preceding calendar year is 2018 and the preceding December 31 is December 31, 

2018. Accordingly, in 2019, Financial Institution A satisfies the asset-size threshold described in 

§ 1003.2(g)(1)(i) if its assets exceeded the threshold specified in comment 2(g)-2 on December 

31, 2018. Likewise, in 2020, Financial Institution A does not meet the loan-volume test 

described in § 1003.2(g)(1)(v)(A) if it originated fewer than 25 closed-end mortgage loans during 

either 2018 or 2019. 

2. Adjustment of exemption threshold for banks, savings associations, and credit unions. For 

data collection in 2020, the asset-size exemption threshold is $47 million. Banks, savings 

associations, and credit unions with assets at or below $47 million as of December 31, 2019, 

are exempt from collecting data for 2020. 

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3. Merger or acquisition—coverage of surviving or newly formed institution. After a merger or 

acquisition, the surviving or newly formed institution is a financial institution under § 1003.2(g) if 

it, considering the combined assets, location, and lending activity of the surviving or newly 

formed institution and the merged or acquired institutions or acquired branches, satisfies the 

criteria included in § 1003.2(g). For example, A and B merge. The surviving or newly formed 

institution meets the loan threshold described in § 1003.2(g)(1)(v)(B) if the surviving or newly 

formed institution, A, and B originated a combined total of at least 500 open-end lines of credit 

in each of the two preceding calendar years. Likewise, the surviving or newly formed institution 

meets the asset-size threshold in § 1003.2(g)(1)(i) if its assets and the combined assets of A 

and B on December 31 of the preceding calendar year exceeded the threshold described in 

§ 1003.2(g)(1)(i). Comment 2(g)-4 discusses a financial institution's responsibilities during the 

calendar year of a merger. 

4. Merger or acquisition—coverage for calendar year of merger or acquisition. The scenarios 

described below illustrate a financial institution's responsibilities for the calendar year of a 

merger or acquisition. For purposes of these illustrations, a “covered institution” means a 

financial institution, as defined in § 1003.2(g), that is not exempt from reporting under 

§ 1003.3(a), and “an institution that is not covered” means either an institution that is not a 

financial institution, as defined in § 1003.2(g), or an institution that is exempt from reporting 

under § 1003.3(a). 

i. Two institutions that are not covered merge. The surviving or newly formed institution 

meets all of the requirements necessary to be a covered institution. No data collection is 

required for the calendar year of the merger (even though the merger creates an institution 

that meets all of the requirements necessary to be a covered institution). When a branch 

office of an institution that is not covered is acquired by another institution that is not 

covered, and the acquisition results in a covered institution, no data collection is required for 

the calendar year of the acquisition. 

ii. A covered institution and an institution that is not covered merge. The covered institution 

is the surviving institution, or a new covered institution is formed. For the calendar year of 

the merger, data collection is required for covered loans and applications handled in the 

offices of the merged institution that was previously covered and is optional for covered 

loans and applications handled in offices of the merged institution that was previously not 

covered. When a covered institution acquires a branch office of an institution that is not 

covered, data collection is optional for covered loans and applications handled by the 

acquired branch office for the calendar year of the acquisition. 

iii. A covered institution and an institution that is not covered merge. The institution that is 

not covered is the surviving institution, or a new institution that is not covered is formed. For 

the calendar year of the merger, data collection is required for covered loans and 

applications handled in offices of the previously covered institution that took place prior to 

the merger. After the merger date, data collection is optional for covered loans and 

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applications handled in the offices of the institution that was previously covered. When an 

institution remains not covered after acquiring a branch office of a covered institution, data 

collection is required for transactions of the acquired branch office that take place prior to 

the acquisition. Data collection by the acquired branch office is optional for transactions 

taking place in the remainder of the calendar year after the acquisition. 

iv. Two covered institutions merge. The surviving or newly formed institution is a covered 

institution. Data collection is required for the entire calendar year of the merger. The 

surviving or newly formed institution files either a consolidated submission or separate 

submissions for that calendar year. When a covered institution acquires a branch office of a 

covered institution, data collection is required for the entire calendar year of the merger. 

Data for the acquired branch office may be submitted by either institution. 

5. Originations. Whether an institution is a financial institution depends in part on whether the 

institution originated at least 25 closed-end mortgage loans in each of the two preceding 

calendar years or at least 500 open-end lines of credit in each of the two preceding calendar 

years. Comments 4(a)-2 through -4 discuss whether activities with respect to a particular 

closed-end mortgage loan or open-end line of credit constitute an origination for purposes of 

§ 1003.2(g). 

6. Branches of foreign banks—treated as banks. A Federal branch or a State-licensed or 

insured branch of a foreign bank that meets the definition of a “bank” under section 3(a)(1) of 

the Federal Deposit Insurance Act (12 U.S.C. 1813(a)) is a bank for the purposes of 

§ 1003.2(g). 

7. Branches and offices of foreign banks and other entities—treated as nondepository financial 

institutions. A Federal agency, State-licensed agency, State-licensed uninsured branch of a 

foreign bank, commercial lending company owned or controlled by a foreign bank, or entity 

operating under section 25 or 25A of the Federal Reserve Act, 12 U.S.C. 601 and 611 (Edge 

Act and agreement corporations) may not meet the definition of “bank” under the Federal 

Deposit Insurance Act and may thereby fail to satisfy the definition of a depository financial 

institution under § 1003.2(g)(1). An entity is nonetheless a financial institution if it meets the 

definition of nondepository financial institution under § 1003.2(g)(2). 

2(I) HOME IMPROVEMENT LOAN 

1. General. Section 1003.2(i) defines a home improvement loan as a closed-end mortgage loan 

or an open-end line of credit that is for the purpose, in whole or in part, of repairing, 

rehabilitating, remodeling, or improving a dwelling or the real property on which the dwelling is 

located. For example, a closed-end mortgage loan obtained to repair a dwelling by replacing a 

roof is a home improvement loan under § 1003.2(i). A loan or line of credit is a home 

improvement loan even if only a part of the purpose is for repairing, rehabilitating, remodeling, 

or improving a dwelling. For example, an open-end line of credit obtained in part to remodel a 

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kitchen and in part to pay college tuition is a home improvement loan under § 1003.2(i). 

Similarly, for example, a loan that is completed pursuant to a New York State consolidation, 

extension, and modification agreement and that is classified as a supplemental mortgage under 

New York Tax Law section 255, such that the borrower owes reduced or no mortgage recording 

taxes, is a home improvement loan if any of the loan's funds are for home improvement 

purposes. See also comment 2(d)-2.ii. 

2. Improvements to real property. Home improvements include improvements both to a dwelling 

and to the real property on which the dwelling is located (for example, installation of a swimming 

pool, construction of a garage, or landscaping). 

3. Commercial and other loans. A home improvement loan may include a closed-end mortgage 

loan or an open-end line of credit originated outside an institution's residential mortgage lending 

division, such as a loan or line of credit to improve an apartment building originated in the 

commercial loan department. 

4. Mixed-use property. A closed-end mortgage loan or an open-end line of credit to improve a 

multifamily dwelling used for residential and commercial purposes (for example, a building 

containing apartment units and retail space), or the real property on which such a dwelling is 

located, is a home improvement loan if the loan's proceeds are used either to improve the entire 

property (for example, to replace the heating system), or if the proceeds are used primarily to 

improve the residential portion of the property. An institution may use any reasonable standard 

to determine the primary use of the loan proceeds. An institution may select the standard to 

apply on a case-by-case basis. See comment 3(c)(10)-3.ii for guidance on loans to improve 

primarily the commercial portion of a dwelling other than a multifamily dwelling. 

5. Multiple-purpose loans. A closed-end mortgage loan or an open-end line of credit may be 

used for multiple purposes. For example, a closed-end mortgage loan that is a home 

improvement loan under § 1003.2(i) may also be a refinancing under § 1003.2(p) if the 

transaction is a cash-out refinancing and the funds will be used to improve a home. Such a 

transaction is a multiple-purpose loan. Comment 4(a)(3)-3 provides details about how to report 

multiple-purpose covered loans. 

6. Statement of borrower. In determining whether a closed-end mortgage loan or an open-end 

line of credit, or an application for a closed-end mortgage loan or an open-end line of credit, is 

for home improvement purposes, an institution may rely on the applicant's or borrower's stated 

purpose(s) for the loan or line of credit at the time the application is received or the credit 

decision is made. An institution need not confirm that the borrower actually uses any of the 

funds for the stated purpose(s). 

2(J) HOME PURCHASE LOAN 

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1. Multiple properties. A home purchase loan includes a closed-end mortgage loan or an openend line of credit secured by one dwelling and used to purchase another dwelling. For example, 

if a person obtains a home-equity loan or a reverse mortgage secured by dwelling A to 

purchase dwelling B, the home-equity loan or the reverse mortgage is a home purchase loan 

under § 1003.2(j). 

2. Commercial and other loans. A home purchase loan may include a closed-end mortgage loan 

or an open-end line of credit originated outside an institution's residential mortgage lending 

division, such as a loan or line of credit to purchase an apartment building originated in the 

commercial loan department. 

3. Construction and permanent financing. A home purchase loan includes both a combined 

construction/permanent loan or line of credit, and the separate permanent financing that 

replaces a construction-only loan or line of credit for the same borrower at a later time. A home 

purchase loan does not include a construction-only loan or line of credit that is designed to be 

replaced by separate permanent financing extended by any financial institution to the same 

borrower at a later time or that is extended to a person exclusively to construct a dwelling for 

sale, which are excluded from Regulation C as temporary financing under § 1003.3(c)(3). 

Comments 3(c)(3)-1 and -2 provide additional details about transactions that are excluded as 

temporary financing. 

4. Second mortgages that finance the downpayments on first mortgages. If an institution making 

a first mortgage loan to a home purchaser also makes a second mortgage loan or line of credit 

to the same purchaser to finance part or all of the home purchaser's downpayment, both the 

first mortgage loan and the second mortgage loan or line of credit are home purchase loans. 

5. Assumptions. Under § 1003.2(j), an assumption is a home purchase loan when an institution 

enters into a written agreement accepting a new borrower as the obligor on an existing 

obligation to finance the new borrower's purchase of the dwelling securing the existing 

obligation, if the resulting obligation is a closed-end mortgage loan or an open-end line of credit. 

A transaction in which borrower B finances the purchase of borrower A's dwelling by assuming 

borrower A's existing debt obligation and that is completed pursuant to a New York State 

consolidation, extension, and modification agreement and is classified as a supplemental 

mortgage under New York Tax Law section 255, such that the borrower owes reduced or no 

mortgage recording taxes, is an assumption and a home purchase loan. See comment 2(d)-2.ii. 

On the other hand, a transaction in which borrower B, a successor-in-interest, assumes 

borrower A's existing debt obligation only after acquiring title to borrower A's dwelling is not a 

home purchase loan because borrower B did not assume the debt obligation for the purpose of 

purchasing a dwelling. See § 1003.4(a)(3) and comment 4(a)(3)-4 for guidance about how to 

report covered loans that are not home improvement loans, home purchase loans, or 

refinancings. 

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6. Multiple-purpose loans. A closed-end mortgage loan or an open-end line of credit may be 

used for multiple purposes. For example, a closed-end mortgage loan that is a home purchase 

loan under § 1003.2(j) may also be a home improvement loan under § 1003.2(i) and a 

refinancing under § 1003.2(p) if the transaction is a cash-out refinancing and the funds will be 

used to purchase and improve a dwelling. Such a transaction is a multiple-purpose loan. 

Comment 4(a)(3)-3 provides details about how to report multiple-purpose covered loans. 

2(L) MANUFACTURED HOME 

1. Definition of a manufactured home. The definition in § 1003.2(l) refers to the Federal building 

code for manufactured housing established by the U.S. Department of Housing and Urban 

Development (HUD) (24 CFR part 3280.2). Modular or other factory-built homes that do not 

meet the HUD code standards are not manufactured homes for purposes of § 1003.2(l). 

Recreational vehicles are excluded from the HUD code standards pursuant to 

24 CFR 3282.8(g) and are also excluded from the definition of dwelling for purposes of 

§ 1003.2(f). See comment 2(f)-3. 

2. Identification. A manufactured home will generally bear a data plate affixed in a permanent 

manner near the main electrical panel or other readily accessible and visible location noting its 

compliance with the Federal Manufactured Home Construction and Safety Standards in force at 

the time of manufacture and providing other information about its manufacture pursuant to 

24 CFR 3280.5. A manufactured home will generally also bear a HUD Certification Label 

pursuant to 24 CFR 3280.11. 

2(M) METROPOLITAN STATISTICAL AREA (MD) OR METROPOLITAN DIVISION (MD). 

1. Use of terms “Metropolitan Statistical Area (MSA)” and “Metropolitan Division (MD).” The U.S. 

Office of Management and Budget (OMB) defines Metropolitan Statistical Areas (MSAs) and 

Metropolitan Divisions (MDs) to provide nationally consistent definitions for collecting, 

tabulating, and publishing Federal statistics for a set of geographic areas. For all purposes 

under Regulation C, if an MSA is divided by OMB into MDs, the appropriate geographic unit to 

be used is the MD; if an MSA is not so divided by OMB into MDs, the appropriate geographic 

unit to be used is the MSA. 

2(N) MULTIFAMILY DWELLING 

1. Multifamily residential structures. The definition of dwelling in § 1003.2(f) includes multifamily 

residential structures and the corresponding commentary provides guidance on when such 

residential structures are included in that definition. See comments 2(f)-2 through -5. 

2. Special reporting requirements for multifamily dwellings. The definition of multifamily dwelling 

in § 1003.2(n) includes a dwelling, regardless of construction method, that contains five or more 

individual dwelling units. Covered loans secured by a multifamily dwelling are subject to 

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additional reporting requirements under § 1003.4(a)(32), but are not subject to reporting 

requirements under § 1003.4(a)(4), (10)(iii), (23), (29), or (30). 

3. Separate dwellings. A covered loan secured by five or more separate dwellings, which are 

not multifamily dwellings, in more than one location is not a loan secured by a multifamily 

dwelling. For example, assume a landlord uses a covered loan to improve five or more 

dwellings, each with one individual dwelling unit, located in different parts of a town, and the 

loan is secured by those properties. The covered loan is not secured by a multifamily dwelling 

as defined by § 1003.2(n). Likewise, a covered loan secured by five or more separate dwellings 

that are located within a multifamily dwelling, but which is not secured by the entire multifamily 

dwelling (e.g., an entire apartment building or housing complex), is not secured by a multifamily 

dwelling as defined by § 1003.2(n). For example, assume that an investor purchases 10 

individual unit condominiums in a 100-unit condominium complex using a covered loan. The 

covered loan would not be secured by a multifamily dwelling as defined by § 1003.2(n). In both 

of these situations, a financial institution reporting a covered loan or application secured by 

these separate dwellings would not be subject to the additional reporting requirements for 

covered loans secured by or applications proposed to be secured by multifamily dwellings under 

§ 1003.4(a)(32). However, a financial institution would report the information required by 

§ 1003.4(a)(4), (a)(10)(iii), and (a)(23), (29), and (30), which is not applicable to covered loans 

secured by and applications proposed to be secured by multifamily dwellings. See comment 

2(n)-2. In addition, in both of these situations, the financial institution reports the number of 

individual dwelling units securing the covered loan or proposed to secure a covered loan as 

required by § 1003.4(a)(31). See comment 4(a)(31)-3. 

2(O) OPEN-END LINE OF CREDIT 

1. General. Section 1003.2(o) defines an open-end line of credit as an extension of credit that is 

secured by a lien on a dwelling and that is an open-end credit plan as defined in Regulation Z, 

12 CFR 1026.2(a)(20), but without regard to whether the credit is consumer credit, as defined in 

§1026.2(a)(12), is extended by a creditor, as defined in §1026.2(a)(17), or is extended to a 

consumer, as defined in § 1026.2(a)(11). Aside from these distinctions, institutions may rely on 

12 CFR 1026.2(a)(20) and its related commentary in determining whether a transaction is an 

open-end line of credit under § 1003.2(o). For example, assume a business-purpose transaction 

that is exempt from Regulation Z pursuant to §1026.3(a)(1) but that otherwise is open-end credit 

under Regulation Z § 1026.2(a)(20). The business-purpose transaction is an open-end line of 

credit under Regulation C, provided the other requirements of § 1003.2(o) are met. Similarly, 

assume a transaction in which the person extending open-end credit is a financial institution 

under § 1003.2(g) but is not a creditor under Regulation Z, § 1026.2(a)(17). In this example, the 

transaction is an open-end line of credit under Regulation C, provided the other requirements of 

§ 1003.2(o) are met. 

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2. Extension of credit. Extension of credit has the same meaning under § 1003.2(o) as under 

§ 1003.2(d) and comment 2(d)-2. Thus, for example, a renewal of an open-end line of credit is 

not an extension of credit under § 1003.2(o) and is not covered by Regulation C unless the 

existing debt obligation is satisfied and replaced. Likewise, under § 1003.2(o), each draw on an 

open-end line of credit is not an extension of credit. 

2(P) REFINANCING 

1. General. Section 1003.2(p) defines a refinancing as a closed-end mortgage loan or an openend line of credit in which a new, dwelling-secured debt obligation satisfies and replaces an 

existing, dwelling-secured debt obligation by the same borrower. Except as described in 

comment 2(p)-2, whether a refinancing has occurred is determined by reference to whether, 

based on the parties' contract and applicable law, the original debt obligation has been satisfied 

or replaced by a new debt obligation. Whether the original lien is satisfied is irrelevant. For 

example: 

i. A new closed-end mortgage loan that satisfies and replaces one or more existing closedend mortgage loans is a refinancing under § 1003.2(p). 

ii. A new open-end line of credit that satisfies and replaces an existing closed-end mortgage 

loan is a refinancing under § 1003.2(p). 

iii. Except as described in comment 2(p)-2, a new debt obligation that renews or modifies 

the terms of, but that does not satisfy and replace, an existing debt obligation, is not a 

refinancing under § 1003.2(p). 

2. New York State consolidation, extension, and modification agreements. Where a transaction 

is completed pursuant to a New York State consolidation, extension, and modification 

agreement and is classified as a supplemental mortgage under New York Tax Law section 255, 

such that the borrower owes reduced or no mortgage recording taxes, and where, but for the 

agreement, the transaction would have met the definition of a refinancing under § 1003.2(p), the 

transaction is considered a refinancing under § 1003.2(p). See also comment 2(d)-2.ii. 

3. Existing debt obligation. A closed-end mortgage loan or an open-end line of credit that 

satisfies and replaces one or more existing debt obligations is not a refinancing under 

§ 1003.2(p) unless the existing debt obligation (or obligations) also was secured by a dwelling. 

For example, assume that a borrower has an existing $30,000 closed-end mortgage loan and 

obtains a new $50,000 closed-end mortgage loan that satisfies and replaces the existing 

$30,000 loan. The new $50,000 loan is a refinancing under § 1003.2(p). However, if the 

borrower obtains a new $50,000 closed-end mortgage loan that satisfies and replaces an 

existing $30,000 loan secured only by a personal guarantee, the new $50,000 loan is not a 

refinancing under § 1003.2(p). See § 1003.4(a)(3) and related commentary for guidance about 

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how to report the loan purpose of such transactions, if they are not otherwise excluded under 

§ 1003.3(c). 

4. Same borrower. Section 1003.2(p) provides that, even if all of the other requirements of 

§ 1003.2(p) are met, a closed-end mortgage loan or an open-end line of credit is not a 

refinancing unless the same borrower undertakes both the existing and the new obligation(s). 

Under § 1003.2(p), the “same borrower” undertakes both the existing and the new obligation(s) 

even if only one borrower is the same on both obligations. For example, assume that an existing 

closed-end mortgage loan (obligation X) is satisfied and replaced by a new closed-end 

mortgage loan (obligation Y). If borrowers A and B both are obligated on obligation X, and only 

borrower B is obligated on obligation Y, then obligation Y is a refinancing under § 1003.2(p), 

assuming the other requirements of § 1003.2(p) are met, because borrower B is obligated on 

both transactions. On the other hand, if only borrower A is obligated on obligation X, and only 

borrower B is obligated on obligation Y, then obligation Y is not a refinancing under § 1003.2(p). 

For example, assume that two spouses are divorcing. If both spouses are obligated on 

obligation X, but only one spouse is obligated on obligation Y, then obligation Y is a refinancing 

under § 1003.2(p), assuming the other requirements of § 1003.2(p) are met. On the other hand, 

if only spouse A is obligated on obligation X, and only spouse B is obligated on obligation Y, 

then obligation Y is not a refinancing under § 1003.2(p). See § 1003.4(a)(3) and related 

commentary for guidance about how to report the loan purpose of such transactions, if they are 

not otherwise excluded under § 1003.3(c). 

5. Two or more debt obligations. Section 1003.2(p) provides that, to be a refinancing, a new 

debt obligation must satisfy and replace an existing debt obligation. Where two or more new 

obligations replace an existing obligation, each new obligation is a refinancing if, taken together, 

the new obligations satisfy the existing obligation. Similarly, where one new obligation replaces 

two or more existing obligations, the new obligation is a refinancing if it satisfies each of the 

existing obligations. 

6. Multiple-purpose loans. A closed-end mortgage loan or an open-end line of credit may be 

used for multiple purposes. For example, a closed-end mortgage loan that is a refinancing 

under § 1003.2(p) may also be a home improvement loan under § 1003.2(i) and be used for 

other purposes if the refinancing is a cash-out refinancing and the funds will be used both for 

home improvement and to pay college tuition. Such a transaction is a multiple-purpose loan. 

Comment 4(a)(3)-3 provides details about how to report multiple-purpose covered loans. 

SECTION 1003.3—EXEMPT INSTITUTIONS AND EXCLUDED AND PARTIALLY EXEMPT 

TRANSACTIONS 

3(C) EXCLUDED TRANSACTIONS 

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Paragraph 3(c)(1) 

1. Financial institution acting in a fiduciary capacity. Section 1003.3(c)(1) provides that a closedend mortgage loan or an open-end line of credit originated or purchased by a financial institution 

acting in a fiduciary capacity is an excluded transaction. A financial institution acts in a fiduciary 

capacity if, for example, the financial institution acts as a trustee. 

Paragraph 3(c)(2) 

1. Loan or line of credit secured by a lien on unimproved land. Section 1003.3(c)(2) provides 

that a closed-end mortgage loan or an open-end line of credit secured by a lien on unimproved 

land is an excluded transaction. A loan or line of credit is secured by a lien on unimproved land 

if the loan or line of credit is secured by vacant or unimproved property, unless the institution 

knows, based on information that it receives from the applicant or borrower at the time the 

application is received or the credit decision is made, that the proceeds of that loan or credit line 

will be used within two years after closing or account opening to construct a dwelling on, or to 

purchase a dwelling to be placed on, the land. A loan or line of credit that is not excludable 

under § 1003.3(c)(2) nevertheless may be excluded, for example, as temporary financing under 

§ 1003.3(c)(3). 

Paragraph 3(c)(3) 

1. Temporary financing. Section 1003.3(c)(3) provides that closed-end mortgage loans or openend lines of credit obtained for temporary financing are excluded transactions. A loan or line of 

credit is considered temporary financing and excluded under § 1003.3(c)(3) if the loan or line of 

credit is designed to be replaced by separate permanent financing extended by any financial 

institution to the same borrower at a later time. For example: 

i. Lender A extends credit in the form of a bridge or swing loan to finance a borrower's down 

payment on a home purchase. The borrower pays off the bridge or swing loan with funds 

from the sale of his or her existing home and obtains permanent financing for his or her new 

home from Lender A or from another lender. The bridge or swing loan is excluded as 

temporary financing under § 1003.3(c)(3). 

ii. Lender A extends credit to a borrower to finance construction of a dwelling. The borrower 

will obtain a new extension of credit for permanent financing for the dwelling, either from 

Lender A or from another lender, and either through a refinancing of the initial construction 

loan or a separate loan. The initial construction loan is excluded as temporary financing 

under § 1003.3(c)(3). 

iii. Assume the same scenario as in comment 3(c)(3)-1.ii, except that the initial construction 

loan is, or may be, renewed one or more times before the separate permanent financing is 

obtained. The initial construction loan, including any renewal thereof, is excluded as 

temporary financing under § 1003.3(c)(3). 

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iv. Lender A extends credit to finance construction of a dwelling. The loan automatically will 

convert to permanent financing extended to the same borrower with Lender A once the 

construction phase is complete. Under § 1003.3(c)(3), the loan is not designed to be 

replaced by separate permanent financing extended to the same borrower, and therefore 

the temporary financing exclusion does not apply. See also comment 2(j)-3. 

v. Lender A originates a loan with a nine-month term to enable an investor to purchase a 

home, renovate it, and re-sell it before the term expires. Under § 1003.3(c)(3), the loan is 

not designed to be replaced by separate permanent financing extended to the same 

borrower, and therefore the temporary financing exclusion does not apply. Such a 

transaction is not temporary financing under § 1003.3(c)(3) merely because its term is short. 

2. Loan or line of credit to construct a dwelling for sale. A construction-only loan or line of credit 

is considered temporary financing and excluded under § 1003.3(c)(3) if the loan or line of credit 

is extended to a person exclusively to construct a dwelling for sale. See comment 3(c)(3)-1.ii 

through .iv for examples of the reporting requirement for construction loans that are not 

extended to a person exclusively to construct a dwelling for sale. 

Paragraph 3(c)(4) 

1. Purchase of an interest in a pool of loans. Section 1003.3(c)(4) provides that the purchase of 

an interest in a pool of closed-end mortgage loans or open-end lines of credit is an excluded 

transaction. The purchase of an interest in a pool of loans or lines of credit includes, for 

example, mortgage-participation certificates, mortgage-backed securities, or real estate 

mortgage investment conduits. 

Paragraph 3(c)(6) 

1. Mergers and acquisitions. Section 1003.3(c)(6) provides that the purchase of closed-end 

mortgage loans or open-end lines of credit as part of a merger or acquisition, or as part of the 

acquisition of all of the assets and liabilities of a branch office, are excluded transactions. If a 

financial institution acquires loans or lines of credit in bulk from another institution (for example, 

from the receiver for a failed institution), but no merger or acquisition of an institution, or 

acquisition of a branch office, is involved and no other exclusion applies, the acquired loans or 

lines of credit are covered loans and are reported as described in comment 4(a)-1.iii. 

Paragraph 3(c)(8) 

1. Partial interest. Section 1003.3(c)(8) provides that the purchase of a partial interest in a 

closed-end mortgage loan or an open-end line of credit is an excluded transaction. If an 

institution acquires only a partial interest in a loan or line of credit, the institution does not report 

the transaction even if the institution participated in the underwriting and origination of the loan 

or line of credit. If an institution acquires a 100 percent interest in a loan or line of credit, the 

transaction is not excluded under § 1003.3(c)(8). 

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Paragraph 3(c)(9) 

1. Loan or line of credit used primarily for agricultural purposes. Section 1003.3(c)(9) provides 

that an institution does not report a closed-end mortgage loan or an open-end line of credit used 

primarily for agricultural purposes. A loan or line of credit is used primarily for agricultural 

purposes if its funds will be used primarily for agricultural purposes, or if the loan or line of credit 

is secured by a dwelling that is located on real property that is used primarily for agricultural 

purposes (e.g., a farm). An institution may refer to comment 3(a)-8 in the official interpretations 

of Regulation Z, 12 CFR part 1026, supplement I, for guidance on what is an agricultural 

purpose. An institution may use any reasonable standard to determine the primary use of the 

property. An institution may select the standard to apply on a case-by-case basis. 

Paragraph 3(c)(10) 

1. General. Section 1003.3(c)(10) provides a special rule for reporting a closed-end mortgage 

loan or an open-end line of credit that is or will be made primarily for a business or commercial 

purpose. If an institution determines that a closed-end mortgage loan or an open-end line of 

credit primarily is for a business or commercial purpose, then the loan or line of credit is a 

covered loan only if it is a home improvement loan under § 1003.2(i), a home purchase loan 

under § 1003.2(j), or a refinancing under § 1003.2(p) and no other exclusion applies. Section 

1003.3(c)(10) does not categorically exclude all business- or commercial-purpose loans and 

lines of credit from coverage. 

2. Primary purpose. An institution must determine in each case if a closed-end mortgage loan or 

an open-end line of credit primarily is for a business or commercial purpose. If a closed-end 

mortgage loan or an open-end line of credit is deemed to be primarily for a business, 

commercial, or organizational purpose under Regulation Z, 12 CFR 1026.3(a) and its related 

commentary, then the loan or line of credit also is deemed to be primarily for a business or 

commercial purpose under § 1003.3(c)(10). 

3. Examples—covered business- or commercial-purpose transactions. The following are 

examples of closed-end mortgage loans and open-end lines of credit that are not excluded from 

reporting under § 1003.3(c)(10) because, although they primarily are for a business or 

commercial purpose, they also meet the definition of a home improvement loan under 

§ 1003.2(i), a home purchase loan under § 1003.2(j), or a refinancing under § 1003.2(p): 

i. A closed-end mortgage loan or an open-end line of credit to purchase or to improve a 

multifamily dwelling or a single-family investment property, or a refinancing of a closed-end 

mortgage loan or an open-end line of credit secured by a multifamily dwelling or a singlefamily investment property; 

ii. A closed-end mortgage loan or an open-end line of credit to improve a doctor's office or a 

daycare center that is located in a dwelling other than a multifamily dwelling; and 

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iii. A closed-end mortgage loan or an open-end line of credit to a corporation, if the funds 

from the loan or line of credit will be used to purchase or to improve a dwelling, or if the 

transaction is a refinancing. 

4. Examples—excluded business- or commercial-purpose transactions. The following are 

examples of closed-end mortgage loans and open-end lines of credit that are not covered loans 

because they primarily are for a business or commercial purpose, but they do not meet the 

definition of a home improvement loan under § 1003.2(i), a home purchase loan under 

§ 1003.2(j), or a refinancing under § 1003.2(p): 

i. A closed-end mortgage loan or an open-end line of credit whose funds will be used 

primarily to improve or expand a business, for example to renovate a family restaurant that 

is not located in a dwelling, or to purchase a warehouse, business equipment, or inventory; 

ii. A closed-end mortgage loan or an open-end line of credit to a corporation whose funds 

will be used primarily for business purposes, such as to purchase inventory; and 

iii. A closed-end mortgage loan or an open-end line of credit whose funds will be used 

primarily for business or commercial purposes other than home purchase, home 

improvement, or refinancing, even if the loan or line of credit is cross-collateralized by a 

covered loan. 

Paragraph 3(c)(11) 

1. General. Section 1003.3(c)(11) provides that a closed-end mortgage loan is an excluded 

transaction if a financial institution originated fewer than 25 closed-end mortgage loans in either 

of the two preceding calendar years. For example, assume that a bank is a financial institution 

in 2018 under § 1003.2(g) because it originated 600 open-end lines of credit in 2016, 650 openend lines of credit in 2017, and met all of the other requirements under § 1003.2(g)(1). Also 

assume that the bank originated 10 and 20 closed-end mortgage loans in 2016 and 2017, 

respectively. The open-end lines of credit that the bank originated or purchased, or for which it 

received applications, during 2018 are covered loans and must be reported, unless they 

otherwise are excluded transactions under § 1003.3(c). However, the closed-end mortgage 

loans that the bank originated or purchased, or for which it received applications, during 2018 

are excluded transactions under § 1003.3(c)(11) and need not be reported. See comments 4(a)-

2 through -4 for guidance about the activities that constitute an origination. 

2. Optional reporting. A financial institution may report applications for, originations of, or 

purchases of closed-end mortgage loans that are excluded transactions because the financial 

institution originated fewer than 25 closed-end mortgage loans in either of the two preceding 

calendar years. However, a financial institution that chooses to report such excluded 

applications for, originations of, or purchases of closed-end mortgage loans must report all such 

applications for closed-end mortgage loans that it receives, closed-end mortgage loans that it 

originates, and closed-end mortgage loans that it purchases that otherwise would be covered 

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loans for a given calendar year. Note that applications which remain pending at the end of a 

calendar year are not reported, as described in comment 4(a)(8)(i)-14. 

Paragraph 3(c)(12) 

1. General. Section 1003.3(c)(12) provides that an open-end line of credit is an excluded 

transaction if a financial institution originated fewer than 500 open-end lines of credit in either of 

the two preceding calendar years. For example, assume that a bank is a financial institution in 

2020 under § 1003.2(g) because it originated 50 closed-end mortgage loans in 2018, 75 closedend mortgage loans in 2019, and met all of the other requirements under § 1003.2(g)(1). Also 

assume that the bank originated 75 and 85 open-end lines of credit in 2018 and 2019, 

respectively. The closed-end mortgage loans that the bank originated or purchased, or for which 

it received applications, during 2020 are covered loans and must be reported, unless they 

otherwise are excluded transactions under § 1003.3(c). However, the open-end lines of credit 

that the bank originated or purchased, or for which it received applications, during 2020 are 

excluded transactions under § 1003.3(c)(12) and need not be reported. See comments 4(a)-2 

through -4 for guidance about the activities that constitute an origination. 

2. Optional reporting. A financial institution may report applications for, originations of, or 

purchases of open-end lines of credit that are excluded transactions because the financial 

institution originated fewer than 500 open-end lines of credit in either of the two preceding 

calendar years. However, a financial institution that chooses to report such excluded 

applications for, originations of, or purchases of open-end lines of credit must report all such 

applications for open-end lines of credit on which it receives, open-end lines of credit that it 

originates, and open-end lines of credit that it purchases that otherwise would be covered loans 

for a given calendar year. Note that applications which remain pending at the end of a calendar 

year are not reported, as described in comment 4(a)(8)(i)-14. 

Paragraph 3(c)(13) 

1.	 New funds extended before consolidation. Section 1003.3(c)(13) provides an exclusion 

for a transaction that provided or, in the case of an application, proposed to provide new 

funds to the borrower in advance of being consolidated in a New York State 

consolidation, extension, and modification agreement classified as a supplemental 

mortgage under New York Tax Law section 255 (New York CEMA) and for which final 

action is taken on both transactions within the same calendar year. The excluded 

transaction provides or proposes to provide funds that are not part of any existing debt 

obligation of the borrower and that are then consolidated or proposed to be consolidated 

with an existing debt obligation or obligations as part of the supplemental mortgage. The 

new funds are reported only insofar as they form part of the total amount of the reported 

New York CEMA, and not as a separate amount. This exclusion applies only if, at the 

time the transaction that provided new funds was originated, the financial institution 

intended to consolidate the loan into a New York CEMA. If a New York CEMA that 

consolidates an excluded preliminary transaction is carried out in a transaction involving 

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an assumption, the financial institution reports the New York CEMA and does not report 

the preliminary transaction separately. The § 1003.3(c)(13) exclusion does not apply to 

similar preliminary transactions that provide or propose to provide new funds to be 

consolidated not pursuant to New York Tax Law section 255 but under some other law in 

a transaction that is not an extension of credit. For example, assume a financial 

institution extends new funds to a consumer in a preliminary transaction that is then 

consolidated as part of a consolidation, extension and modification agreement pursuant 

to the law of a State other than New York. If the preliminary extension of new funds is a 

covered loan, it must be reported. If the consolidation, extension and modification 

agreement pursuant to the law of a State other than New York is not an extension of 

credit pursuant to Regulation C, it may not be reported. For discussion of how to report a 

cash-out refinancing, see comment 4(a)(3)-2. 

3(D) PARTIALLY EXEMPT TRANSACTIONS 

1. Merger or acquisition—application of partial exemption thresholds to surviving or newly 

formed institution. After a merger or acquisition, the surviving or newly formed institution falls 

below the loan threshold described in § 1003.3(d)(2) or (3) if it, considering the combined 

lending activity of the surviving or newly formed institution and the merged or acquired 

institutions or acquired branches, falls below the loan threshold described in § 1003.3(d)(2) or 

(3). For example, A and B merge. The surviving or newly formed institution falls below the loan 

threshold described in § 1003.3(d)(2) if the surviving or newly formed institution, A, and B 

originated a combined total of fewer than 500 closed-end mortgage loans that are not excluded 

from this part pursuant to § 1003.3(c)(1) through (10) or (c)(13) in each of the two preceding 

calendar years. Comment 3(d)-3 discusses eligibility for partial exemptions during the calendar 

year of a merger. 

2. Merger or acquisition—Community Reinvestment Act examination history. After a merger or 

acquisition, the surviving or newly formed institution is deemed to be ineligible for the partial 

exemptions pursuant to § 1003.3(d)(6) if either it or any of the merged or acquired institutions 

received a rating of “needs to improve record of meeting community credit needs” during each 

of its two most recent examinations or a rating of “substantial noncompliance in meeting 

community credit needs” on its most recent examination under section 807(b)(2) of the 

Community Reinvestment Act of 1977 (12 U.S.C. 2906(b)(2)). Comment 3(d)-3.iii discusses 

eligibility for partial exemptions during the calendar year of a merger when an institution that is 

eligible for a partial exemption merges with an institution that is ineligible for the partial 

exemption (including, for example, an institution that is ineligible for the partial exemptions 

pursuant to § 1003.3(d)(6)) and the surviving or newly formed institution is ineligible for the 

partial exemption. 

3. Merger or acquisition—applicability of partial exemptions during calendar year of merger or 

acquisition. The scenarios described below illustrate the applicability of partial exemptions 

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under § 1003.3(d) during the calendar year of a merger or acquisition. For purposes of these 

illustrations, “institution” means a financial institution, as defined in § 1003.2(g), that is not 

exempt from reporting under § 1003.3(a). Although the scenarios below refer to the partial 

exemption for closed-end mortgage loans under § 1003.3(d)(2), the same principles apply with 

respect to the partial exemption for open-end lines of credit under § 1003.3(d)(3). 

i. Assume two institutions that are eligible for the partial exemption for closed-end mortgage 

loans merge and the surviving or newly formed institution meets all of the requirements for the 

partial exemption. The partial exemption for closed-end mortgage loans applies for the calendar 

year of the merger. 

ii. Assume two institutions that are eligible for the partial exemption for closed-end mortgage 

loans merge and the surviving or newly formed institution does not meet the requirements for 

the partial exemption. Collection of optional data for closed-end mortgage loans is permitted but 

not required for the calendar year of the merger (even though the merger creates an institution 

that does not meet the requirements for the partial exemption for closed-end mortgage loans). 

When a branch office of an institution that is eligible for the partial exemption is acquired by 

another institution that is eligible for the partial exemption, and the acquisition results in an 

institution that is not eligible for the partial exemption, data collection for closed-end mortgage 

loans is permitted but not required for the calendar year of the acquisition. 

iii. Assume an institution that is eligible for the partial exemption for closed-end mortgage loans 

merges with an institution that is ineligible for the partial exemption and the surviving or newly 

formed institution is ineligible for the partial exemption. For the calendar year of the merger, 

collection of optional data as defined in § 1003.3(d)(1)(iii) for closed-end mortgage loans is 

required for covered loans and applications handled in the offices of the merged institution that 

was previously ineligible for the partial exemption. For the calendar year of the merger, 

collection of optional data for closed-end mortgage loans is permitted but not required for 

covered loans and applications handled in the offices of the merged institution that was 

previously eligible for the partial exemption. When an institution that is ineligible for the partial 

exemption for closed-end mortgage loans acquires a branch office of an institution that is 

eligible for the partial exemption, collection of optional data for closed-end mortgage loans is 

permitted but not required for covered loans and applications handled by the acquired branch 

office for the calendar year of the acquisition. 

iv. Assume an institution that is eligible for the partial exemption for closed-end mortgage loans 

merges with an institution that is ineligible for the partial exemption and the surviving or newly 

formed institution is eligible for the partial exemption. For the calendar year of the merger, 

collection of optional data for closed-end mortgage loans is required for covered loans and 

applications handled in the offices of the previously ineligible institution that took place prior to 

the merger. After the merger date, collection of optional data for closed-end mortgage loans is 

permitted but not required for covered loans and applications handled in the offices of the 

institution that was previously ineligible for the partial exemption. When an institution remains 

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eligible for the partial exemption for closed-end mortgage loans after acquiring a branch office of 

an institution that is ineligible for the partial exemption, collection of optional data for closed-end 

mortgage loans is required for transactions of the acquired branch office that take place prior to 

the acquisition. Collection of optional data for closed-end mortgage loans by the acquired 

branch office is permitted but not required for transactions taking place in the remainder of the 

calendar year after the acquisition. 

4. Originations. Whether applications for covered loans that an insured depository institution or 

insured credit union receives, covered loans that it originates, or covered loans that it purchases 

are partially exempt transactions under § 1003.3(d) depends, in part, on whether the institution 

originated fewer than 500 closed-end mortgage loans that are not excluded from this part 

pursuant to § 1003.3(c)(1) through (10) or (c)(13) in each of the two preceding calendar years or 

fewer than 500 open-end lines of credit that are not excluded from this part pursuant to 

§ 1003.3(c)(1) through (10) in each of the two preceding calendar years. See comments 4(a)-2 

through -4 for guidance about the activities that constitute an origination for purposes of 

§ 1003.3(d). 

5. Affiliates. A financial institution that is not itself an insured credit union or an insured 

depository institution as defined in § 1003.3(d)(1)(i) and (ii) is not eligible for the partial 

exemptions under § 1003.3(d)(1) through (3), even if it is owned by or affiliated with an insured 

credit union or an insured depository institution. For example, an institution that is a subsidiary 

of an insured credit union or insured depository institution may not claim a partial exemption 

under § 1003.3(d) for its closed-end mortgage loans unless the subsidiary institution itself: 

i. Is an insured credit union or insured depository institution, 

ii. In each of the two preceding calendar years originated fewer than 500 closed-end mortgage 

loans that are not excluded from this part pursuant to § 1003.3(c)(1) through (10) or (c)(13), and 

iii. If the subsidiary is an insured depository institution, had not received as of the preceding 

December 31 a rating of “needs to improve record of meeting community credit needs” during 

each of its two most recent examinations or a rating of “substantial noncompliance in meeting 

community credit needs” on its most recent examination under section 807(b)(2) of the 

Community Reinvestment Act of 1977 (12 U.S.C. 2906(b)(2)). 

Paragraph 3(d)(1)(iii) 

1. Optional data. The definition of optional data in § 1003.3(d)(1)(iii) identifies the data that are 

covered by the partial exemptions for certain transactions of insured depository institutions and 

insured credit unions under § 1003.3(d). If a transaction is not partially exempt under 

§ 1003.3(d)(2) or (3), a financial institution must collect, record, and report optional data as 

otherwise required under this part. 

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Paragraph 3(d)(2) 

1. General. Section 1003.3(d)(2) provides that, except as provided in § 1003.3(d)(6), an 

insured depository institution or insured credit union that, in each of the two preceding calendar 

years, originated fewer than 500 closed-end mortgage loans that are not excluded from this part 

pursuant to § 1003.3(c)(1) through (10) or (c)(13) is not required to collect, record, or report 

optional data as defined in § 1003.3(d)(1)(iii) for applications for closed-end mortgage loans that 

it receives, closed-end mortgage loans that it originates, and closed-end mortgage loans that it 

purchases. For example, assume that an insured credit union is a financial institution in 2020 

under § 1003.2(g) and originated, in 2018 and 2019 respectively, 100 and 200 closed-end 

mortgage loans that are not excluded from this part pursuant to § 1003.3(c)(1) through (10) or 

(c)(13). The closed-end mortgage loans that the insured credit union originated or purchased, 

or for which it received applications, during 2020 are not excluded transactions under 

§ 1003.3(c)(11). However, due to the partial exemption in § 1003.3(d)(2), the insured credit 

union is not required to collect, record, or report optional data as defined in § 1003.3(d)(1)(iii) for 

the closed-end mortgage loans that it originated or purchased, or for which it received 

applications, for which final action is taken during 2020. See comments 4(a)-2 through -4 for 

guidance about the activities that constitute an origination. 

Paragraph 3(d)(3) 

1. General. Section 1003.3(d)(3) provides that, except as provided in § 1003.3(d)(6), an insured 

depository institution or insured credit union that, in each of the two preceding calendar years, 

originated fewer than 500 open-end lines of credit that are not excluded from this part pursuant 

to § 1003.3(c)(1) through (10) is not required to collect, record, or report optional data as 

defined in § 1003.3(d)(1)(iii) for applications for open-end lines of credit that it receives, openend lines of credit that it originates, and open-end lines of credit that it purchases. See 

§ 1003.3(c)(12) and comments 3(c)(12)-1 and -2, which provide an exclusion for certain openend lines of credit from this part and permit voluntary reporting of such transactions under 

certain circumstances. See also comments 4(a)-2 through -4 for guidance about the activities 

that constitute an origination. 

Paragraph 3(d)(4) 

1. General. Section 1003.3(d)(4) provides that an insured depository institution or insured credit 

union may collect, record, and report optional data as defined in § 1003.3(d)(1)(iii) for a partially 

exempt transaction as though the institution were required to do so, provided that, if an 

institution voluntarily reports any data pursuant to any of the seven paragraphs identified in 

§ 1003.3(d)(4)(i) and (ii) (§ 1003.4(a)(9)(i) and (a)(15), (16), (17), (27), (33), and (35)), it also 

must report all other data for the covered loan or application that would be required by that 

applicable paragraph if the transaction were not partially exempt. For example, an insured 

depository institution or insured credit union may voluntarily report the existence of a balloon 

payment for a partially exempt transaction pursuant to § 1003.4(a)(27), but, if it does so, it must 

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also report all other data for the transaction that would be required by § 1003.4(a)(27) if the 

transaction were not partially exempt (i.e., whether the transaction has interest-only payments, 

negative amortization, or other non-amortizing features). 

2. Partially exempt transactions within the same loan/application register. A financial institution 

may collect, record, and report optional data for some partially exempt transactions under 

§ 1003.3(d) in the manner specified in § 1003.3(d)(4), even if it does not collect, record, and 

report optional data for other partially exempt transactions under § 1003.3(d). 

3. Exempt or not applicable. i. If a financial institution would otherwise report that a transaction 

is partially exempt pursuant to § 1003.3(d) and a particular requirement to report optional data is 

not applicable to the transaction, the insured depository institution or insured credit union 

complies with the particular requirement by reporting either that the transaction is exempt from 

the requirement or that the requirement is not applicable. For example, assume that an insured 

depository institution or insured credit union originates a partially exempt reverse mortgage. 

The requirement to report lender credits is not applicable to reverse mortgages, as comment 

4(a)(20)-1 explains. Accordingly, the institution could report either exempt or not applicable for 

lender credits for the reverse mortgage transaction. 

ii. An institution is considered as reporting data in a data field for purposes of § 1003.3(d)(4)(i) 

and (ii) when it reports not applicable for that data field for a partially exempt transaction. For 

example, assume an insured depository institution or insured credit union originates a covered 

loan that is eligible for a partial exemption and is made primarily for business or commercial 

purposes. The requirement to report total loan costs or total points and fees is not applicable to 

loans made primarily for business or commercial purposes, as comments 4(a)(17)(i)-1 and (ii)-1 

explain. The institution can report not applicable for both total loan costs and total points and 

fees, or it can report exempt for both total loan costs and total points and fees for the loan. 

Pursuant to § 1003.3(d)(4)(ii), the institution is not permitted to report not applicable for total 

loan costs and report exempt for total points and fees for the business or commercial purpose 

loan. 

Paragraph 3(d)(4)(i) 

1. State. Section 1003.3(d)(4)(i) provides that if an institution eligible for a partial exemption 

under § 1003.3(d)(2) or (3) reports the street address, city name, or Zip Code for a partially 

exempt transaction pursuant to § 1003.4(a)(9)(i), it reports all data that would be required by § 

1003.4(a)(9)(i) if the transaction were not partially exempt, including the State. An insured 

depository institution or insured credit union that reports the State pursuant to § 1003.4(a)(9)(ii) 

or comment 4(a)(9)(ii)-1 for a partially exempt transaction without reporting any other data 

required by § 1003.4(a)(9)(i) is not required to report the street address, city name, or Zip Code 

pursuant to § 1003.4(a)(9)(i). 

Paragraph 3(d)(5) 

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1. NULI—uniqueness. For a partially exempt transaction under § 1003.3(d), a financial 

institution may report a ULI or a NULI. Section 1003.3(d)(5)(ii) requires an insured depository 

institution or insured credit union that assigns a NULI to a covered loan or application to ensure 

that the character sequence it assigns is unique within the institution’s annual loan/application 

register in which it appears. A financial institution should assign only one NULI to any particular 

covered loan or application within each annual loan/application register, and each NULI should 

correspond to a single application and ensuing loan within the annual loan/application register in 

which the NULI appears in the case that the application is approved and a loan is originated. A 

financial institution may use a NULI more than once within an annual loan/application register 

only if the NULI refers to the same loan or application or a loan that ensues from an application 

referred to elsewhere in the annual loan/application register. Refinancings or applications for 

refinancing that are included in same annual loan/application register as the loan that is being 

refinanced should be assigned a different NULI than the loan that is being refinanced. An 

insured depository institution or insured credit union with multiple branches must ensure that its 

branches do not use the same NULI to refer to multiple covered loans or applications within the 

institution’s same annual loan/application register. 

2. NULI—privacy. Section 1003.3(d)(5)(iii) prohibits an insured depository institution or insured 

credit union from including information in the NULI that could be used to directly identify the 

applicant or borrower. Information that could be used to directly identify the applicant or 

borrower includes, but is not limited to, the applicant’s or borrower’s name, date of birth, Social 

Security number, official government-issued driver’s license or identification number, alien 

registration number, government passport number, or employer or taxpayer identification 

number. 

Paragraph 3(d)(6) 

1. Preceding calendar year. Section 1003.3(d)(6) refers to the preceding December 31, which 

means the December 31 preceding the current calendar year. For example, in 2020, the 

preceding December 31 is December 31, 2019. Assume that, as of December 31, 2019, an 

insured depository institution received ratings of “needs to improve record of meeting 

community credit needs” during its two most recent examinations under section 807(b)(2) of the 

Community Reinvestment Act (12 U.S.C. 2906(b)(2)) in 2018 and 2014. Accordingly, in 2020, 

the insured depository institution’s transactions are not partially exempt pursuant to § 1003.3(d). 

SECTION 1003.4—COMPILATION OF REPORTABLE DATA 

4(A) DATA FORMAT AND ITEMIZATION 

1. General. Except as otherwise provided in § 1003.3, § 1003.4(a) describes a financial 

institution's obligation to collect data on applications it received, on covered loans that it 

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originated, and on covered loans that it purchased during the calendar year covered by the 

loan/application register. 

i. A financial institution reports these data even if the covered loans were subsequently sold 

by the institution. 

ii. A financial institution reports data for applications that did not result in an origination but 

on which actions were taken-for example, an application that the institution denied, that it 

approved but that was not accepted, that it closed for incompleteness, or that the applicant 

withdrew during the calendar year covered by the loan/application register. A financial 

institution is required to report data regarding requests under a preapproval program (as 

defined in § 1003.2(b)(2)) only if the preapproval request is denied, results in the origination 

of a home purchase loan, or was approved but not accepted. 

iii. If a financial institution acquires covered loans in bulk from another institution (for 

example, from the receiver for a failed institution), but no merger or acquisition of an 

institution, or acquisition of a branch office, is involved, the acquiring financial institution 

reports the covered loans as purchased loans. 

iv. A financial institution reports the data for an application on the loan/application register 

for the calendar year during which the application was acted upon even if the institution 

received the application in a previous calendar year. 

2. Originations and applications involving more than one institution. Section 1003.4(a) requires a 

financial institution to collect certain information regarding applications for covered loans that it 

receives and regarding covered loans that it originates. The following provides guidance on how 

to report originations and applications involving more than one institution. The discussion below 

assumes that all of the parties are financial institutions as defined by § 1003.2(g). The same 

principles apply if any of the parties is not a financial institution. Comment 4(a)-3 provides 

examples of transactions involving more than one institution, and comment 4(a)-4 discusses 

how to report actions taken by agents. 

i. Only one financial institution reports each originated covered loan as an origination. If 

more than one institution was involved in the origination of a covered loan, the financial 

institution that made the credit decision approving the application before closing or account 

opening reports the loan as an origination. It is not relevant whether the loan closed or, in 

the case of an application, would have closed in the institution's name. If more than one 

institution approved an application prior to closing or account opening and one of those 

institutions purchased the loan after closing, the institution that purchased the loan after 

closing reports the loan as an origination. If a financial institution reports a transaction as an 

origination, it reports all of the information required for originations, even if the covered loan 

was not initially payable to the financial institution that is reporting the covered loan as an 

origination. 

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ii. In the case of an application for a covered loan that did not result in an origination, a 

financial institution reports the action it took on that application if it made a credit decision on 

the application or was reviewing the application when the application was withdrawn or 

closed for incompleteness. It is not relevant whether the financial institution received the 

application from the applicant or from another institution, such as a broker, or whether 

another financial institution also reviewed and reported an action taken on the same 

application. 

3. Examples—originations and applications involving more than one institution. The following 

scenarios illustrate how an institution reports a particular application or covered loan. The 

illustrations assume that all of the parties are financial institutions as defined by § 1003.2(g). 

However, the same principles apply if any of the parties is not a financial institution. 

i. Financial Institution A received an application for a covered loan from an applicant and 

forwarded that application to Financial Institution B. Financial Institution B reviewed the 

application and approved the loan prior to closing. The loan closed in Financial Institution 

A's name. Financial Institution B purchased the loan from Financial Institution A after 

closing. Financial Institution B was not acting as Financial Institution A's agent. Since 

Financial Institution B made the credit decision prior to closing, Financial Institution B reports 

the transaction as an origination, not as a purchase. Financial Institution A does not report 

the transaction. 

ii. Financial Institution A received an application for a covered loan from an applicant and 

forwarded that application to Financial Institution B. Financial Institution B reviewed the 

application before the loan would have closed, but the application did not result in an 

origination because Financial Institution B denied the application. Financial Institution B was 

not acting as Financial Institution A's agent. Since Financial Institution B made the credit 

decision, Financial Institution B reports the application as a denial. Financial Institution A 

does not report the application. If, under the same facts, the application was withdrawn 

before Financial Institution B made a credit decision, Financial Institution B would report the 

application as withdrawn and Financial Institution A would not report the application. 

iii. Financial Institution A received an application for a covered loan from an applicant and 

approved the application before closing the loan in its name. Financial Institution A was not 

acting as Financial Institution B's agent. Financial Institution B purchased the covered loan 

from Financial Institution A. Financial Institution B did not review the application before 

closing. Financial Institution A reports the loan as an origination. Financial Institution B 

reports the loan as a purchase. 

iv. Financial Institution A received an application for a covered loan from an applicant. If 

approved, the loan would have closed in Financial Institution B's name. Financial Institution 

A denied the application without sending it to Financial Institution B for approval. Financial 

Institution A was not acting as Financial Institution B's agent. Since Financial Institution A 

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made the credit decision before the loan would have closed, Financial Institution A reports 

the application. Financial Institution B does not report the application. 

v. Financial Institution A reviewed an application and made the credit decision to approve a 

covered loan using the underwriting criteria provided by a third party (e.g., another financial 

institution, Fannie Mae, or Freddie Mac). The third party did not review the application and 

did not make a credit decision prior to closing. Financial Institution A was not acting as the 

third party's agent. Financial Institution A reports the application or origination. If the third 

party purchased the loan and is subject to Regulation C, the third party reports the loan as a 

purchase whether or not the third party reviewed the loan after closing. Assume the same 

facts, except that Financial Institution A approved the application, and the applicant chose 

not to accept the loan from Financial Institution A. Financial Institution A reports the 

application as approved but not accepted and the third party, assuming the third party is 

subject to Regulation C, does not report the application. 

vi. Financial Institution A reviewed and made the credit decision on an application based on 

the criteria of a third-party insurer or guarantor (for example, a government or private insurer 

or guarantor). Financial Institution A reports the action taken on the application. 

vii. Financial Institution A received an application for a covered loan and forwarded it to 

Financial Institutions B and C. Financial Institution A made a credit decision, acting as 

Financial Institution D's agent, and approved the application. The applicant did not accept 

the loan from Financial Institution D. Financial Institution D reports the application as 

approved but not accepted. Financial Institution A does not report the application. Financial 

Institution B made a credit decision, approving the application, the applicant accepted the 

offer of credit from Financial Institution B, and credit was extended. Financial Institution B 

reports the origination. Financial Institution C made a credit decision and denied the 

application. Financial Institution C reports the application as denied. 

4. Agents. If a financial institution made the credit decision on a covered loan or application 

through the actions of an agent, the institution reports the application or origination. State law 

determines whether one party is the agent of another. For example, acting as Financial 

Institution A's agent, Financial Institution B approved an application prior to closing and a 

covered loan was originated. Financial Institution A reports the loan as an origination. 

5. Purchased loans. 

i. A financial institution is required to collect data regarding covered loans it purchases. For 

purposes of § 1003.4(a), a purchase includes a repurchase of a covered loan, regardless of 

whether the institution chose to repurchase the covered loan or was required to repurchase 

the covered loan because of a contractual obligation and regardless of whether the 

repurchase occurs within the same calendar year that the covered loan was originated or in 

a different calendar year. For example, assume that Financial Institution A originates or 

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purchases a covered loan and then sells it to Financial Institution B, who later requires 

Financial Institution A to repurchase the covered loan pursuant to the relevant contractual 

obligations. Financial Institution B reports the purchase from Financial Institution A, 

assuming it is a financial institution as defined under § 1003.2(g). Financial Institution A 

reports the repurchase from Financial Institution B as a purchase. 

ii. In contrast, for purposes of § 1003.4(a), a purchase does not include a temporary transfer 

of a covered loan to an interim funder or warehouse creditor as part of an interim funding 

agreement under which the originating financial institution is obligated to repurchase the 

covered loan for sale to a subsequent investor. Such agreements, often referred to as 

“repurchase agreements,” are sometimes employed as functional equivalents of warehouse 

lines of credit. Under these agreements, the interim funder or warehouse creditor acquires 

legal title to the covered loan, subject to an obligation of the originating institution to 

repurchase at a future date, rather than taking a security interest in the covered loan as 

under the terms of a more conventional warehouse line of credit. To illustrate, assume 

Financial Institution A has an interim funding agreement with Financial Institution B to 

enable Financial Institution B to originate loans. Assume further that Financial Institution B 

originates a covered loan and that, pursuant to this agreement, Financial Institution A takes 

a temporary transfer of the covered loan until Financial Institution B arranges for the sale of 

the covered loan to a subsequent investor and that Financial Institution B repurchases the 

covered loan to enable it to complete the sale to the subsequent investor (alternatively, 

Financial Institution A may transfer the covered loan directly to the subsequent investor at 

Financial Institution B's direction, pursuant to the interim funding agreement). The 

subsequent investor could be, for example, a financial institution or other entity that intends 

to hold the loan in portfolio, a GSE or other securitizer, or a financial institution or other 

entity that intends to package and sell multiple loans to a GSE or other securitizer. In this 

example, the temporary transfer of the covered loan from Financial Institution B to Financial 

Institution A is not a purchase, and any subsequent transfer back to Financial Institution B 

for delivery to the subsequent investor is not a purchase, for purposes of § 1003.4(a). 

Financial Institution B reports the origination of the covered loan as well as its sale to the 

subsequent investor. If the subsequent investor is a financial institution under § 1003.2(g), it 

reports a purchase of the covered loan pursuant to § 1003.4(a), regardless of whether it 

acquired the covered loan from Financial Institution B or directly from Financial Institution A. 

Paragraph 4(a)(1)(i) 

1. ULI—uniqueness. Section 1003.4(a)(1)(i)(B)(2) requires a financial institution that assigns a 

universal loan identifier (ULI) to each covered loan or application (except as provided in 

§ 1003.4(a)(1)(i)(D) and (E)) to ensure that the character sequence it assigns is unique within 

the institution and used only for the covered loan or application. A financial institution should 

assign only one ULI to any particular covered loan or application, and each ULI should 

correspond to a single application and ensuing loan in the case that the application is approved 

and a loan is originated. A financial institution may use a ULI that was reported previously to 

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refer only to the same loan or application for which the ULI was used previously or a loan that 

ensues from an application for which the ULI was used previously. A financial institution may not 

report an application for a covered loan in 2030 using the same ULI that was reported for a 

covered loan that was originated in 2020. Similarly, refinancings or applications for refinancing 

should be assigned a different ULI than the loan that is being refinanced. A financial institution 

with multiple branches must ensure that its branches do not use the same ULI to refer to 

multiple covered loans or applications. 

2. ULI—privacy. Section 1003.4(a)(1)(i)(B)(3) prohibits a financial institution from including 

information that could be used to directly identify the applicant or borrower in the identifier that it 

assigns for the application or covered loan of the applicant or borrower. Information that could 

be used to directly identify the applicant or borrower includes, but is not limited to, the 

applicant's or borrower's name, date of birth, Social Security number, official government-issued 

driver's license or identification number, alien registration number, government passport 

number, or employer or taxpayer identification number. 

3. ULI—purchased covered loan. If a financial institution has previously assigned a covered loan 

with a ULI or reported a covered loan with a ULI under this part, a financial institution that 

purchases that covered loan must report the same ULI that was previously assigned or reported 

unless the purchaser of the covered loan is a partially exempt transaction under § 1003.3(d). 

For example, if a financial institution that submits an annual loan/application register pursuant to 

§ 1003.5(a)(1)(i) originates a covered loan that is purchased by a financial institution that also 

submits an annual loan/application register pursuant to § 1003.5(a)(1)(i), the financial institution 

that purchases the covered loan must report the purchase of the covered loan using the same 

ULI that was reported by the originating financial institution if the purchase is not a partially 

exempt transaction. If a financial institution that originates a covered loan has previously 

assigned the covered loan with a ULI under this part but has not yet reported the covered loan, 

a financial institution that purchases that covered loan must report the same ULI that was 

previously assigned if the purchase is not a partially exempt transaction. For example, if a 

financial institution that submits an annual loan/application register pursuant to § 1003.5(a)(1)(i) 

(Institution A) originates a covered loan that is purchased by a financial institution that submits a 

quarterly loan/application register pursuant to § 1003.5(a)(1)(ii) (Institution B) and Institution A 

assigned a ULI to the loan, then unless the purchase is a partially exempt transaction Institution 

B must report the ULI that was assigned by Institution A on Institution B’s quarterly 

loan/application register pursuant to § 1003.5(a)(1)(ii), even though Institution A has not yet 

submitted its annual loan/application register pursuant to § 1003.5(a)(1)(i). A financial institution 

that purchases a covered loan and is ineligible for a partial exemption with respect to the 

purchased covered loan must assign it a ULI pursuant to § 1003.4(a)(1)(i) and report it pursuant 

to § 1003.5(a)(1)(i) or (ii), whichever is applicable, if the covered loan was not assigned a ULI by 

the financial institution that originated the loan because, for example, the loan was originated 

prior to January 1, 2018, the loan was originated by an institution not required to report under 

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this part, or the loan was assigned a non-universal loan identifier (NULI) under § 1003.3(d)(5) 

rather than a ULI by the loan originator. 

4. ULI—reinstated or reconsidered application. A financial institution may, at its option, report a 

ULI previously reported under this part if, during the same calendar year, an applicant asks the 

institution to reinstate a counteroffer that the applicant previously did not accept or asks the 

financial institution to reconsider an application that was previously denied, withdrawn, or closed 

for incompleteness. For example, if a financial institution reports a denied application in its 

second-quarter 2020 data submission, pursuant to § 1003.5(a)(1)(ii), but then reconsiders the 

application, resulting in an origination in the third quarter of 2020, the financial institution may 

report the origination in its third-quarter 2020 data submission using the same ULI that was 

reported for the denied application in its second-quarter 2020 data submission, so long as the 

financial institution treats the origination as the same transaction for reporting. However, a 

financial institution may not use a ULI previously reported if it reinstates or reconsiders an 

application that was reported in a prior calendar year. For example, if a financial institution 

reports a denied application that is not partially exempt in its fourth-quarter 2020 data 

submission, pursuant to § 1003.5(a)(1)(ii), but then reconsiders the application, resulting in an 

origination that is not partially exempt in the first quarter of 2021, the financial institution reports 

a denied application under the original ULI in its fourth-quarter 2020 data submission and an 

origination with a different ULI in its first-quarter 2021 data submission, pursuant to 

§ 1003.5(a)(1)(ii). 

5. ULI—check digit. Section 1003.(4)(a)(1)(i)(C) requires that the two right-most characters in 

the ULI represent the check digit. Appendix C prescribes the requirements for generating a 

check digit and validating a ULI. 

6. NULI. For a partially exempt transaction under § 1003.3(d), a financial institution may report 

a ULI or a NULI. See § 1003.3(d)(5) and comments 3(d)(5)-1 and -2 for guidance on the NULI. 

Paragraph 4(a)(1)(ii) 

1. Application date—consistency. Section 1003.4(a)(1)(ii) requires that, in reporting the date of 

application, a financial institution report the date it received the application, as defined under 

§ 1003.2(b), or the date shown on the application form. Although a financial institution need not 

choose the same approach for its entire HMDA submission, it should be generally consistent 

(such as by routinely using one approach within a particular division of the institution or for a 

category of loans). If the financial institution chooses to report the date shown on the application 

form and the institution retains multiple versions of the application form, the institution reports 

the date shown on the first application form satisfying the application definition provided under 

§ 1003.2(b). 

2. Application date—indirect application. For an application that was not submitted directly to the 

financial institution, the institution may report the date the application was received by the party 

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that initially received the application, the date the application was received by the institution, or 

the date shown on the application form. Although an institution need not choose the same 

approach for its entire HMDA submission, it should be generally consistent (such as by routinely 

using one approach within a particular division of the institution or for a category of loans). 

3. Application date—reinstated application. If, within the same calendar year, an applicant asks 

a financial institution to reinstate a counteroffer that the applicant previously did not accept (or 

asks the institution to reconsider an application that was denied, withdrawn, or closed for 

incompleteness), the institution may treat that request as the continuation of the earlier 

transaction using the same ULI or NULI or as a new transaction with a new ULI or NULI. If the 

institution treats the request for reinstatement or reconsideration as a new transaction, it reports 

the date of the request as the application date. If the institution does not treat the request for 

reinstatement or reconsideration as a new transaction, it reports the original application date. 

Paragraph 4(a)(2) 

1. Loan type—general. If a covered loan is not, or in the case of an application would not have 

been, insured by the Federal Housing Administration, guaranteed by the Department of 

Veterans Affairs, or guaranteed by the Rural Housing Service or the Farm Service Agency, an 

institution complies with § 1003.4(a)(2) by reporting the covered loan as not insured or 

guaranteed by the Federal Housing Administration, Department of Veterans Affairs, Rural 

Housing Service, or Farm Service Agency. 

Paragraph 4(a)(3) 

1. Purpose—statement of applicant. A financial institution may rely on the oral or written 

statement of an applicant regarding the proposed use of covered loan proceeds. For example, a 

lender could use a check-box or a purpose line on a loan application to determine whether the 

applicant intends to use covered loan proceeds for home improvement purposes. If an applicant 

provides no statement as to the proposed use of covered loan proceeds and the covered loan is 

not a home purchase loan, cash-out refinancing, or refinancing, a financial institution reports the 

covered loan as for a purpose other than home purchase, home improvement, refinancing, or 

cash-out refinancing for purposes of § 1003.4(a)(3). 

2. Purpose—refinancing and cash-out refinancing. Section 1003.4(a)(3) requires a financial 

institution to report whether a covered loan is, or an application is for, a refinancing or a cashout refinancing. A financial institution reports a covered loan or an application as a cash-out 

refinancing if it is a refinancing as defined by § 1003.2(p) and the institution considered it to be a 

cash-out refinancing in processing the application or setting the terms (such as the interest rate 

or origination charges) under its guidelines or an investor's guidelines. For example: 

i. Assume a financial institution considers an application for a loan product to be a cash-out 

refinancing under an investor's guidelines because of the amount of cash received by the 

borrower at closing or account opening. Assume also that under the investor's guidelines, 

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the applicant qualifies for the loan product and the financial institution approves the 

application, originates the covered loan, and sets the terms of the covered loan consistent 

with the loan product. In this example, the financial institution would report the covered loan 

as a cash-out refinancing for purposes of § 1003.4(a)(3). 

ii. Assume a financial institution does not consider an application for a covered loan to be a 

cash-out refinancing under its own guidelines because the amount of cash received by the 

borrower does not exceed a certain threshold. Assume also that the institution approves the 

application, originates the covered loan, and sets the terms of the covered loan consistent 

with its own guidelines applicable to refinancings other than cash-out refinancings. In this 

example, the financial institution would report the covered loan as a refinancing for purposes 

of § 1003.4(a)(3). 

iii. Assume a financial institution does not distinguish between a cash-out refinancing and a 

refinancing under its own guidelines, and sets the terms of all refinancings without regard to 

the amount of cash received by the borrower at closing or account opening, and does not 

offer loan products under investor guidelines. In this example, the financial institution reports 

all covered loans and applications for covered loans that are defined by § 1003.2(p) as 

refinancings for purposes of § 1003.4(a)(3). 

3. Purpose—multiple-purpose loan. Section 1003.4(a)(3) requires a financial institution to report 

the purpose of a covered loan or application. If a covered loan is a home purchase loan as well 

as a home improvement loan, a refinancing, or a cash-out refinancing, an institution complies 

with § 1003.4(a)(3) by reporting the loan as a home purchase loan. If a covered loan is a home 

improvement loan as well as a refinancing or cash-out refinancing, but the covered loan is not a 

home purchase loan, an institution complies with § 1003.4(a)(3) by reporting the covered loan 

as a refinancing or a cash-out refinancing, as appropriate. If a covered loan is a refinancing or 

cash-out refinancing as well as for another purpose, such as for the purpose of paying 

educational expenses, but the covered loan is not a home purchase loan, an institution complies 

with § 1003.4(a)(3) by reporting the covered loan as a refinancing or a cash-out refinancing, as 

appropriate. See comment 4(a)(3)-2. If a covered loan is a home improvement loan as well as 

for another purpose, but the covered loan is not a home purchase loan, a refinancing, or cashout refinancing, an institution complies with § 1003.4(a)(3) by reporting the covered loan as a 

home improvement loan. See comment 2(i)-1. 

4. Purpose—other. If a covered loan is not, or an application is not for, a home purchase loan, a 

home improvement loan, a refinancing, or a cash-out refinancing, a financial institution complies 

with § 1003.4(a)(3) by reporting the covered loan or application as for a purpose other than 

home purchase, home improvement, refinancing, or cash-out refinancing. For example, if a 

covered loan is for the purpose of paying educational expenses, the financial institution 

complies with § 1003.4(a)(3) by reporting the covered loan as for a purpose other than home 

purchase, home improvement, refinancing, or cash-out refinancing. Section 1003.4(a)(3) also 

requires an institution to report a covered loan or application as for a purpose other than home 

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purchase, home improvement, refinancing, or cash-out refinancing if it is a refinancing but, 

under the terms of the agreement, the financial institution was unconditionally obligated to 

refinance the obligation subject to conditions within the borrower's control. 

5. Purpose—business or commercial purpose loans. If a covered loan primarily is for a business 

or commercial purpose as described in § 1003.3(c)(10) and comment 3(c)(10)-2 and is a home 

purchase loan, home improvement loan, or a refinancing, § 1003.4(a)(3) requires the financial 

institution to report the applicable loan purpose. If a loan primarily is for a business or 

commercial purpose but is not a home purchase loan, home improvement loan, or a refinancing, 

the loan is an excluded transaction under § 1003.3(c)(10). 

6. Purpose—purchased loans. For purchased covered loans where origination took place prior 

to January 1, 2018, a financial institution complies with § 1003.4(a)(3) by reporting that the 

requirement is not applicable. 

Paragraph 4(a)(4) 

1. Request under a preapproval program. Section 1003.4(a)(4) requires a financial institution to 

report whether an application or covered loan involved a request for a preapproval of a home 

purchase loan under a preapproval program as defined by § 1003.2(b)(2). If an application or 

covered loan did not involve a request for a preapproval of a home purchase loan under a 

preapproval program as defined by § 1003.2(b)(2), a financial institution complies with 

§ 1003.4(a)(4) by reporting that the application or covered loan did not involve such a request, 

regardless of whether the institution has such a program and the applicant did not apply through 

that program or the institution does not have a preapproval program as defined by 

§ 1003.2(b)(2). 

2. Scope of requirement. A financial institution reports that the application or covered loan did 

not involve a preapproval request for a purchased covered loan; an application or covered loan 

for any purpose other than a home purchase loan; an application for a home purchase loan or a 

covered loan that is a home purchase loan secured by a multifamily dwelling; an application or 

covered loan that is an open-end line of credit or a reverse mortgage; or an application that is 

denied, withdrawn by the applicant, or closed for incompleteness. 

Paragraph 4(a)(5) 

1. Modular homes and prefabricated components. Covered loans or applications related to 

modular homes should be reported with a construction method of site-built, regardless of 

whether they are on-frame or off-frame modular homes. Modular homes comply with local or 

other recognized buildings codes rather than standards established by the National 

Manufactured Housing Construction and Safety Standards Act, 42 U.S.C. 5401 et seq. Modular 

homes are not required to have HUD Certification Labels under 24 CFR 3280.11 or data plates 

under 24 CFR 3280.5. Modular homes may have a certification from a State licensing agency 

that documents compliance with State or other applicable building codes. On-frame modular 

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homes are constructed on permanent metal chassis similar to those used in manufactured 

homes. The chassis are not removed on site and are secured to the foundation. Off-frame 

modular homes typically have floor construction similar to the construction of other site-built 

homes, and the construction typically includes wooden floor joists and does not include 

permanent metal chassis. Dwellings built using prefabricated components assembled at the 

dwelling's permanent site should also be reported with a construction method of site-built. 

2. Multifamily dwelling. For a covered loan or an application for a covered loan related to a 

multifamily dwelling, the financial institution should report the construction method as site-built 

unless the multifamily dwelling is a manufactured home community, in which case the financial 

institution should report the construction method as manufactured home. 

3. Multiple properties. See comment 4(a)(9)-2 regarding transactions involving multiple 

properties with more than one property taken as security. 

Paragraph 4(a)(6) 

1. Multiple properties. See comment 4(a)(9)-2 regarding transactions involving multiple 

properties with more than one property taken as security. 

2. Principal residence. Section 1003.4(a)(6) requires a financial institution to identify whether the 

property to which the covered loan or application relates is or will be used as a residence that 

the applicant or borrower physically occupies and uses, or will occupy and use, as his or her 

principal residence. For purposes of § 1003.4(a)(6), an applicant or borrower can have only one 

principal residence at a time. Thus, a vacation or other second home would not be a principal 

residence. However, if an applicant or borrower buys or builds a new dwelling that will become 

the applicant's or borrower's principal residence within a year or upon the completion of 

construction, the new dwelling is considered the principal residence for purposes of applying 

this definition to a particular transaction. 

3. Second residences. Section 1003.4(a)(6) requires a financial institution to identify whether the 

property to which the loan or application relates is or will be used as a second residence. For 

purposes of § 1003.4(a)(6), a property is a second residence of an applicant or borrower if the 

property is or will be occupied by the applicant or borrower for a portion of the year and is not 

the applicant's or borrower's principal residence. For example, if a person purchases a property, 

occupies the property for a portion of the year, and rents the property for the remainder of the 

year, the property is a second residence for purposes of § 1003.4(a)(6). Similarly, if a couple 

occupies a property near their place of employment on weekdays, but the couple returns to their 

principal residence on weekends, the property near the couple's place of employment is a 

second residence for purposes of § 1003.4(a)(6). 

4. Investment properties. Section 1003.4(a)(6) requires a financial institution to identify whether 

the property to which the covered loan or application relates is or will be used as an investment 

property. For purposes of § 1003.4(a)(6), a property is an investment property if the borrower 

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does not, or the applicant will not, occupy the property. For example, if a person purchases a 

property, does not occupy the property, and generates income by renting the property, the 

property is an investment property for purposes of § 1003.4(a)(6). Similarly, if a person 

purchases a property, does not occupy the property, and does not generate income by renting 

the property, but intends to generate income by selling the property, the property is an 

investment property for purposes of § 1003.4(a)(6). Section 1003.4(a)(6) requires a financial 

institution to identify a property as an investment property if the borrower or applicant does not 

or will not occupy the property, even if the borrower or applicant does not consider the property 

as owned for investment purposes. For example, if a corporation purchases a property that is a 

dwelling under § 1003.2(f), that it does not occupy, but that is for the long-term residential use of 

its employees, the property is an investment property for purposes of § 1003.4(a)(6), even if the 

corporation considers the property as owned for business purposes rather than investment 

purposes, does not generate income by renting the property, and does not intend to generate 

income by selling the property at some point in time. If the property is for transitory use by 

employees, the property would not be considered a dwelling under § 1003.2(f). See comment 

2(f)-3. 

5. Purchased covered loans. For purchased covered loans, a financial institution may report 

principal residence unless the loan documents or application indicate that the property will not 

be occupied as a principal residence. 

Paragraph 4(a)(7) 

1. Covered loan amount—counteroffer. If an applicant accepts a counteroffer for an amount 

different from the amount for which the applicant applied, the financial institution reports the 

covered loan amount granted. If an applicant does not accept a counteroffer or fails to respond, 

the institution reports the amount initially requested. 

2. Covered loan amount—application approved but not accepted or preapproval request 

approved but not accepted. A financial institution reports the covered loan amount that was 

approved. 

3. Covered loan amount—preapproval request denied, application denied, closed for 

incompleteness or withdrawn. For a preapproval request that was denied, and for an application 

that was denied, closed for incompleteness, or withdrawn, a financial institution reports the 

amount for which the applicant applied. 

4. Covered loan amount—multiple-purpose loan. A financial institution reports the entire amount 

of the covered loan, even if only a part of the proceeds is intended for home purchase, home 

improvement, or refinancing. 

5. Covered loan amount—closed-end mortgage loan. For a closed-end mortgage loan, other 

than a purchased loan, an assumption, or a reverse mortgage, a financial institution reports the 

amount to be repaid as disclosed on the legal obligation. For a purchased closed-end mortgage 

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loan or an assumption of a closed-end mortgage loan, a financial institution reports the unpaid 

principal balance at the time of purchase or assumption. 

6. Covered loan amount—open-end line of credit. For an open-end line of credit, a financial 

institution reports the entire amount of credit available to the borrower under the terms of the 

open-end plan, including a purchased open-end line of credit and an assumption of an openend line of credit, but not for a reverse mortgage open-end line of credit. 

7. Covered loan amount—refinancing. For a refinancing, a financial institution reports the 

amount of credit extended under the terms of the new debt obligation. 

8. Covered loan amount—home improvement loan. A financial institution reports the entire 

amount of a home improvement loan, even if only a part of the proceeds is intended for home 

improvement. 

9. Covered loan amount—non-federally insured reverse mortgage. A financial institution reports 

the initial principal limit of a non-federally insured reverse mortgage as set forth in 

§ 1003.4(a)(7)(iii). 

Paragraph 4(a)(8)(i) 

1. Action taken—covered loan originated. A financial institution reports that the covered loan 

was originated if the financial institution made a credit decision approving the application before 

closing or account opening and that credit decision results in an extension of credit. The same is 

true for an application that began as a request for a preapproval that subsequently results in a 

covered loan being originated. See comments 4(a)-2 through -4 for guidance on transactions in 

which more than one institution is involved. 

2. Action taken—covered loan purchased. A financial institution reports that the covered loan 

was purchased if the covered loan was purchased by the financial institution after closing or 

account opening and the financial institution did not make a credit decision on the application 

prior to closing or account opening, or if the financial institution did make a credit decision on the 

application prior to closing or account opening, but is repurchasing the loan from another entity 

that the loan was sold to. See comment 4(a)-5. See comments 4(a)-2 through -4 for guidance 

on transactions in which more than one financial institution is involved. 

3. Action taken—application approved but not accepted. A financial institution reports 

application approved but not accepted if the financial institution made a credit decision 

approving the application before closing or account opening, subject solely to outstanding 

conditions that are customary commitment or closing conditions, but the applicant or the party 

that initially received the application fails to respond to the financial institution's approval within 

the specified time, or the closed-end mortgage loan was not otherwise consummated or the 

account was not otherwise opened. See comment 4(a)(8)(i)-13. 

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4. Action taken—application denied. A financial institution reports that the application was 

denied if it made a credit decision denying the application before an applicant withdraws the 

application or the file is closed for incompleteness. See comments 4(a)-2 through -4 for 

guidance on transactions in which more than one institution is involved. 

5. Action taken—application withdrawn. A financial institution reports that the application was 

withdrawn when the application is expressly withdrawn by the applicant before the financial 

institution makes a credit decision denying the application, before the financial institution makes 

a credit decision approving the application, or before the file is closed for incompleteness. A 

financial institution also reports application withdrawn if the financial institution provides a 

conditional approval specifying underwriting or creditworthiness conditions, pursuant to 

comment 4(a)(8)(i)-13, and the application is expressly withdrawn by the applicant before the 

applicant satisfies all specified underwriting or creditworthiness conditions. A preapproval 

request that is withdrawn is not reportable under HMDA. See § 1003.4(a). 

6. Action taken—file closed for incompleteness. A financial institution reports that the file was 

closed for incompleteness if the financial institution sent a written notice of incompleteness 

under Regulation B, 12 CFR 1002.9(c)(2), and the applicant did not respond to the request for 

additional information within the period of time specified in the notice before the applicant 

satisfies all underwriting or creditworthiness conditions. See comment 4(a)(8)(i)-13. If a financial 

institution then provides a notification of adverse action on the basis of incompleteness under 

Regulation B, 12 CFR 1002.9(c)(1)(i), the financial institution may report the action taken as 

either file closed for incompleteness or application denied. A preapproval request that is closed 

for incompleteness is not reportable under HMDA. See § 1003.4(a) and comment 4(a)-1.ii. 

7. Action taken—preapproval request denied. A financial institution reports that the preapproval 

request was denied if the application was a request for a preapproval under a preapproval 

program as defined in § 1003.2(b)(2) and the institution made a credit decision denying the 

preapproval request. 

8. Action taken—preapproval request approved but not accepted. A financial institution reports 

that the preapproval request was approved but not accepted if the application was a request for 

a preapproval under a preapproval program as defined in § 1003.2(b)(2) and the institution 

made a credit decision approving the preapproval request but the application did not result in a 

covered loan originated by the financial institution. 

9. Action taken—counteroffers. If a financial institution makes a counteroffer to lend on terms 

different from the applicant's initial request (for example, for a shorter loan maturity, with a 

different interest rate, or in a different amount) and the applicant declines to proceed with the 

counteroffer or fails to respond, the institution reports the action taken as a denial on the original 

terms requested by the applicant. If the applicant agrees to proceed with consideration of the 

financial institution's counteroffer, the financial institution reports the action taken as the 

disposition of the application based on the terms of the counteroffer. For example, assume a 

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financial institution makes a counteroffer, the applicant agrees to proceed with the terms of the 

counteroffer, and the financial institution then makes a credit decision approving the application 

conditional on satisfying underwriting or creditworthiness conditions, and the applicant expressly 

withdraws before satisfying all underwriting or creditworthiness conditions and before the 

institution denies the application or closes the file for incompleteness. The financial institution 

reports the action taken as application withdrawn in accordance with comment 4(a)(8)(i)-13.i. 

Similarly, assume a financial institution makes a counteroffer, the applicant agrees to proceed 

with consideration of the counteroffer, and the financial institution provides a conditional 

approval stating the conditions to be met to originate the counteroffer. The financial institution 

reports the action taken on the application in accordance with comment 4(a)(8)(i)-13 regarding 

conditional approvals. 

10. Action taken—rescinded transactions. If a borrower rescinds a transaction after closing and 

before a financial institution is required to submit its loan/application register containing the 

information for the transaction under § 1003.5(a), the institution reports the transaction as an 

application that was approved but not accepted. 

11. Action taken—purchased covered loans. An institution reports the covered loans that it 

purchased during the calendar year. An institution does not report the covered loans that it 

declined to purchase, unless, as discussed in comments 4(a)-2 through -4, the institution 

reviewed the application prior to closing, in which case it reports the application or covered loan 

according to comments 4(a)-2 through -4. 

12. Action taken—repurchased covered loans. See comment 4(a)-5 regarding reporting 

requirements when a covered loan is repurchased by the originating financial institution. 

13. Action taken—conditional approvals. If an institution issues an approval other than a 

commitment pursuant to a preapproval program as defined under § 1003.2(b)(2), and that 

approval is subject to the applicant meeting certain conditions, the institution reports the action 

taken as provided below dependent on whether the conditions are solely customary 

commitment or closing conditions or if the conditions include any underwriting or 

creditworthiness conditions. 

i. Action taken examples. If the approval is conditioned on satisfying underwriting or 

creditworthiness conditions and they are not met, the institution reports the action taken as a 

denial. If, however, the conditions involve submitting additional information about 

underwriting or creditworthiness that the institution needs to make the credit decision, and 

the institution has sent a written notice of incompleteness under Regulation B, 12 CFR 

1002.9(c)(2), and the applicant did not respond within the period of time specified in the 

notice, the institution reports the action taken as file closed for incompleteness. See 

comment 4(a)(8)(i)-6. If the conditions are solely customary commitment or closing 

conditions and the conditions are not met, the institution reports the action taken as 

approved but not accepted. If all the conditions (underwriting, creditworthiness, or customary 

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commitment or closing conditions) are satisfied and the institution agrees to extend credit 

but the covered loan is not originated, the institution reports the action taken as application 

approved but not accepted. If the applicant expressly withdraws before satisfying all 

underwriting or creditworthiness conditions and before the institution denies the application 

or closes the file for incompleteness, the institution reports the action taken as application 

withdrawn. If all underwriting and creditworthiness conditions have been met, and the 

outstanding conditions are solely customary commitment or closing conditions and the 

applicant expressly withdraws before the covered loan is originated, the institution reports 

the action taken as application approved but not accepted. 

ii. Customary commitment or closing conditions. Customary commitment or closing 

conditions include, for example: a clear-title requirement, an acceptable property survey, 

acceptable title insurance binder, clear termite inspection, a subordination agreement from 

another lienholder, and, where the applicant plans to use the proceeds from the sale of one 

home to purchase another, a settlement statement showing adequate proceeds from the 

sale. 

iii. Underwriting or creditworthiness conditions. Underwriting or creditworthiness conditions 

include, for example: conditions that constitute a counter-offer, such as a demand for a 

higher down-payment; satisfactory debt-to-income or loan-to-value ratios, a determination of 

need for private mortgage insurance, or a satisfactory appraisal requirement; or verification 

or confirmation, in whatever form the institution requires, that the applicant meets 

underwriting conditions concerning applicant creditworthiness, including documentation or 

verification of income or assets. 

14. Action taken—pending applications. An institution does not report any covered loan 

application still pending at the end of the calendar year; it reports that application on its 

loan/application register for the year in which final action is taken. 

Paragraph 4(a)(8)(ii) 

1. Action taken date—general. A financial institution reports the date of the action taken. 

2. Action taken date—applications denied and files closed for incompleteness. For applications, 

including requests for a preapproval, that are denied or for files closed for incompleteness, the 

financial institution reports either the date the action was taken or the date the notice was sent 

to the applicant. 

3. Action taken date—application withdrawn. For applications withdrawn, the financial institution 

may report the date the express withdrawal was received or the date shown on the notification 

form in the case of a written withdrawal. 

4. Action taken date—approved but not accepted. For a covered loan approved by an institution 

but not accepted by the applicant, the institution reports any reasonable date, such as the 

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approval date, the deadline for accepting the offer, or the date the file was closed. Although an 

institution need not choose the same approach for its entire HMDA submission, it should be 

generally consistent (such as by routinely using one approach within a particular division of the 

institution or for a category of covered loans). 

5. Action taken date—originations. For covered loan originations, including a preapproval 

request that leads to an origination by the financial institution, an institution generally reports the 

closing or account opening date. For covered loan originations that an institution acquires from 

a party that initially received the application, the institution reports either the closing or account 

opening date, or the date the institution acquired the covered loan from the party that initially 

received the application. If the disbursement of funds takes place on a date later than the 

closing or account opening date, the institution may use the date of initial disbursement. For a 

construction/permanent covered loan, the institution reports either the closing or account 

opening date, or the date the covered loan converts to the permanent financing. Although an 

institution need not choose the same approach for its entire HMDA submission, it should be 

generally consistent (such as by routinely using one approach within a particular division of the 

institution or for a category of covered loans). Notwithstanding this flexibility regarding the use of 

the closing or account opening date in connection with reporting the date action was taken, the 

institution must report the origination as occurring in the year in which the origination goes to 

closing or the account is opened. 

6. Action taken date—loan purchased. For covered loans purchased, a financial institution 

reports the date of purchase. 

Paragraph 4(a)(9) 

1. Multiple properties with one property taken as security. If a covered loan is related to more 

than one property, but only one property is taken as security (or, in the case of an application, 

proposed to be taken as security), a financial institution reports the information required by 

§ 1003.4(a)(9) for the property taken as or proposed to be taken as security. A financial 

institution does not report the information required by § 1003.4(a)(9) for the property or 

properties related to the loan that are not taken as or proposed to be taken as security. For 

example, if a covered loan is secured by property A, and the proceeds are used to purchase or 

rehabilitate (or to refinance home purchase or home improvement loans related to) property B, 

the institution reports the information required by §1003.4(a)(9) for property A and does not 

report the information required by § 1003.4(a)(9) for property B. 

2. Multiple properties with more than one property taken as security. If more than one property 

is taken or, in the case of an application, proposed to be taken as security for a single covered 

loan, a financial institution reports the covered loan or application in a single entry on its 

loan/application register and provides the information required by § 1003.4(a)(9) for one of the 

properties taken as security that contains a dwelling. A financial institution does not report 

information about the other properties taken as security. If an institution is required to report 

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specific information about the property identified in § 1003.4(a)(9), the institution reports the 

information that relates to the property identified in § 1003.4(a)(9) (or, if the transaction is 

partially exempt under § 1003.3(d) and no data are reported pursuant to § 1003.4(a)(9), the 

property that the institution would have identified in § 1003.4(a)(9) if the transaction were not 

partially exempt). For example, Financial Institution A originated a covered loan that is secured 

by both property A and property B, each of which contains a dwelling. Financial Institution A 

reports the loan as one entry on its loan/application register, reporting the information required 

by § 1003.4(a)(9) for either property A or property B. If Financial Institution A elects to report the 

information required by § 1003.4(a)(9) about property A, Financial Institution A also reports the 

information required by § 1003.4(a)(5), (6), (14), (29), and (30) related to property A. For 

aspects of the entries that do not refer to the property identified in § 1003.4(a)(9) (i.e., 

§ 1003.4(a)(1) through (4), (7), (8), (10) through (13), (15) through (28), (31) through (38)), 

Financial Institution A reports the information applicable to the covered loan or application and 

not information that relates only to the property identified in § 1003.4(a)(9). 

3. Multifamily dwellings. A single multifamily dwelling may have more than one postal address. 

For example, three apartment buildings, each with a different street address, comprise a single 

multifamily dwelling that secures a covered loan. For the purposes of § 1003.4(a)(9), a financial 

institution reports the information required by § 1003.4(a)(9) in the same manner described in 

comment 4(a)(9)-2. 

4. Loans purchased from another institution. The requirement to report the property location 

information required by § 1003.4(a)(9) applies not only to applications and originations but also 

to purchased covered loans. 

5. Manufactured home. If the site of a manufactured home has not been identified, a financial 

institution complies by reporting that the information required by § 1003.4(a)(9) is not applicable. 

Paragraph 4(a)(9)(i) 

1. General. Except for partially exempt transactions under § 1003.3(d), § 1003.4(a)(9)(i) 

requires a financial institution to report the property address of the location of the property 

securing a covered loan or, in the case of an application, proposed to secure a covered loan. 

The address should correspond to the property identified on the legal obligation related to the 

covered loan. For applications that did not result in an origination, the address should 

correspond to the location of the property proposed to secure the loan as identified by the 

applicant. For example, assume a loan is secured by a property located at 123 Main Street, and 

the applicant's or borrower's mailing address is a post office box. The financial institution should 

not report the post office box, and should report 123 Main Street. 

2. Property address—format. A financial institution complies with the requirements in 

§ 1003.4(a)(9)(i) by reporting the following information about the physical location of the 

property securing the loan. 

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i. Street address. When reporting the street address of the property, a financial institution 

complies by including, as applicable, the primary address number, the predirectional, the 

street name, street prefixes and/or suffixes, the postdirectional, the secondary address 

identifier, and the secondary address, as applicable. For example, 100 N Main ST Apt 1. 

ii. City name. A financial institution complies by reporting the name of the city in which the 

property is located. 

iii. State name. A financial institution complies by reporting the two letter State code for the 

State in which the property is located, using the U.S. Postal Service official State 

abbreviations. 

iv. Zip Code. A financial institution complies by reporting the five or nine digit Zip Code in 

which the property is located. 

3. Property address—not applicable. A financial institution complies with § 1003.4(a)(9)(i) by 

reporting that the requirement is not applicable if the property address of the property securing 

the covered loan is not known. For example, if the property did not have a property address at 

closing or if the applicant did not provide the property address of the property to the financial 

institution before the application was denied, withdrawn, or closed for incompleteness, the 

financial institution complies with § 1003.4(a)(9)(i) by reporting that the requirement is not 

applicable. 

Paragraph 4(a)(9)(ii) 

1. Optional reporting. Section 1003.4(a)(9)(ii) requires a financial institution to report the State, 

county, and census tract of the property securing the covered loan or, in the case of an 

application, proposed to secure the covered loan if the property is located in an MSA or MD in 

which the financial institution has a home or branch office or if the institution is subject to 

§ 1003.4(e). Section 1003.4(a)(9)(ii)(C) further limits the requirement to report census tract to 

covered loans secured by or applications proposed to be secured by properties located in 

counties with a population of more than 30,000 according to the most recent decennial census 

conducted by the U.S. Census Bureau. For transactions for which State, county, or census tract 

reporting is not required under § 1003.4(a)(9)(ii) or (e), financial institutions may report that the 

requirement is not applicable, or they may voluntarily report the State, county, or census tract 

information. 

Paragraph 4(a)(9)(ii)(A) 

1. Applications—State not provided. When reporting an application, a financial institution 

complies with § 1003.4(a)(9)(ii)(A) by reporting that the requirement is not applicable if the State 

in which the property is located was not known before the application was denied, withdrawn, or 

closed for incompleteness. 

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Paragraph 4(a)(9)(ii)(B) 

1. General. A financial institution complies by reporting the five-digit Federal Information 

Processing Standards (FIPS) numerical county code. 

2. Applications—county not provided. When reporting an application, a financial institution 

complies with § 1003.4(a)(9)(ii)(B) by reporting that the requirement is not applicable if the 

county in which the property is located was not known before the application was denied, 

withdrawn, or closed for incompleteness. 

Paragraph 4(a)(9)(ii)(C) 

1. General. Census tract numbers are defined by the U.S. Census Bureau. A financial institution 

complies with § 1003.4(a)(9)(ii)(C) if it uses the boundaries and codes in effect on January 1 of 

the calendar year covered by the loan/application register that it is reporting. 

2. Applications—census tract not provided. When reporting an application, a financial institution 

complies with § 1003.4(a)(9)(ii)(C) by reporting that the requirement is not applicable if the 

census tract in which the property is located was not known before the application was denied, 

withdrawn, or closed for incompleteness. 

Paragraph 4(a)(10)(i) 

1. Applicant data—general. Refer to appendix B to this part for instructions on collection of an 

applicant's ethnicity, race, and sex. 

2. Transition rule for applicant data collected prior to January 1, 2018. If a financial institution 

receives an application prior to January 1, 2018, but final action is taken on or after January 1, 

2018, the financial institution complies with § 1003.4(a)(10)(i) and (b) if it collects the information 

in accordance with the requirements in effect at the time the information was collected. For 

example, if a financial institution receives an application on November 15, 2017, collects the 

applicant's ethnicity, race, and sex in accordance with the instructions in effect on that date, and 

takes final action on the application on January 5, 2018, the financial institution has complied 

with the requirements of § 1003.4(a)(10)(i) and (b), even though those instructions changed 

after the information was collected but before the date of final action. However, if, in this 

example, the financial institution collected the applicant's ethnicity, race, and sex on or after 

January 1, 2018, § 1003.4(a)(10)(i) and (b) requires the financial institution to collect the 

information in accordance with the amended instructions. 

Paragraph 4(a)(10)(ii) 

1. Applicant data—completion by financial institution. A financial institution complies with 

§ 1003.4(a)(10)(ii) by reporting the applicant's age, as of the application date under 

§ 1003.4(a)(1)(ii), as the number of whole years derived from the date of birth as shown on the 

application form. For example, if an applicant provides a date of birth of 01/15/1970 on the 

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application form that the financial institution receives on 01/14/2015, the institution reports 44 as 

the applicant's age. 

2. Applicant data—co-applicant. If there are no co-applicants, the financial institution reports that 

there is no co-applicant. If there is more than one co-applicant, the financial institution reports 

the age only for the first co-applicant listed on the application form. A co-applicant may provide 

an absent co-applicant's age on behalf of the absent co-applicant. 

3. Applicant data—purchased loan. A financial institution complies with § 1003.4(a)(10)(ii) by 

reporting that the requirement is not applicable when reporting a purchased loan for which the 

institution chooses not to report the age. 

4. Applicant data—non-natural person. A financial institution complies with § 1003.4(a)(10)(ii) by 

reporting that the requirement is not applicable if the applicant or co-applicant is not a natural 

person (for example, a corporation, partnership, or trust). For example, for a transaction 

involving a trust, a financial institution reports that the requirement to report the applicant's age 

is not applicable if the trust is the applicant. On the other hand, if the applicant is a natural 

person, and is the beneficiary of a trust, a financial institution reports the applicant's age. 

5. Applicant data—guarantor. For purposes of § 1003.4(a)(10)(ii), if a covered loan or 

application includes a guarantor, a financial institution does not report the guarantor's age. 

Paragraph 4(a)(10)(iii) 

1. Income data—income relied on. When a financial institution evaluates income as part of a 

credit decision, it reports the gross annual income relied on in making the credit decision. For 

example, if an institution relies on an applicant's salary to compute a debt-to-income ratio but 

also relies on the applicant's annual bonus to evaluate creditworthiness, the institution reports 

the salary and the bonus to the extent relied upon. If an institution relies on only a portion of an 

applicant's income in its determination, it does not report that portion of income not relied on. 

For example, if an institution, pursuant to lender and investor guidelines, does not rely on an 

applicant's commission income because it has been earned for less than 12 months, the 

institution does not include the applicant's commission income in the income reported. Likewise, 

if an institution relies on the verified gross income of the applicant in making the credit decision, 

then the institution reports the verified gross income. Similarly, if an institution relies on the 

income of a cosigner to evaluate creditworthiness, the institution includes the cosigner's income 

to the extent relied upon. An institution, however, does not include the income of a guarantor 

who is only secondarily liable. 

2. Income data—co-applicant. If two persons jointly apply for a covered loan and both list 

income on the application, but the financial institution relies on the income of only one applicant 

in evaluating creditworthiness, the institution reports only the income relied on. 

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3. Income data—loan to employee. A financial institution complies with § 1003.4(a)(10)(iii) by 

reporting that the requirement is not applicable for a covered loan to, or an application from, its 

employee to protect the employee's privacy, even though the institution relied on the employee's 

income in making the credit decision. 

4. Income data—assets. A financial institution does not include as income amounts considered 

in making a credit decision based on factors that an institution relies on in addition to income, 

such as amounts derived from underwriting calculations of the potential annuitization or 

depletion of an applicant's remaining assets. Actual distributions from retirement accounts or 

other assets that are relied on by the financial institution as income should be reported as 

income. The interpretation of income in this paragraph does not affect § 1003.4(a)(23), which 

requires, except for purchased covered loans, the collection of the ratio of the applicant's or 

borrower's total monthly debt to the total monthly income relied on in making the credit decision. 

5. Income data—credit decision not made. Section 1003.4(a)(10)(iii) requires a financial 

institution to report the gross annual income relied on in processing the application if a credit 

decision was not made. For example, assume an institution received an application that 

included an applicant's self-reported income, but the application was withdrawn before a credit 

decision that would have considered income was made. The financial institution reports the 

income information relied on in processing the application at the time that the application was 

withdrawn or the file was closed for incompleteness. 

6. Income data—credit decision not requiring consideration of income. A financial institution 

complies with § 1003.4(a)(10)(iii) by reporting that the requirement is not applicable if the 

application did not or would not have required a credit decision that considered income under 

the financial institution's policies and procedures. For example, if the financial institution's 

policies and procedures do not consider income for a streamlined refinance program, the 

institution reports that the requirement is not applicable, even if the institution received income 

information from the applicant. 

7. Income data—non-natural person. A financial institution reports that the requirement is not 

applicable when the applicant or co-applicant is not a natural person (e.g., a corporation, 

partnership, or trust). For example, for a transaction involving a trust, a financial institution 

reports that the requirement to report income data is not applicable if the trust is the applicant. 

On the other hand, if the applicant is a natural person, and is the beneficiary of a trust, a 

financial institution is required to report the information described in § 1003.4(a)(10)(iii). 

8. Income data—multifamily properties. A financial institution complies with § 1003.4(a)(10)(iii) 

by reporting that the requirement is not applicable when the covered loan is secured by, or 

application is proposed to be secured by, a multifamily dwelling. 

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9. Income data—purchased loans. A financial institution complies with § 1003.4(a)(10)(iii) by 

reporting that the requirement is not applicable when reporting a purchased covered loan for 

which the institution chooses not to report the income. 

10. Income data—rounding. A financial institution complies by reporting the dollar amount of the 

income in thousands, rounded to the nearest thousand ($500 rounds up to the next $1,000). For 

example, $35,500 is reported as 36. 

Paragraph 4(a)(11) 

1. Type of purchaser—loan-participation interests sold to more than one entity. A financial 

institution that originates a covered loan, and then sells it to more than one entity, reports the 

“type of purchaser” based on the entity purchasing the greatest interest, if any. For purposes of 

§ 1003.4(a)(11), if a financial institution sells some interest or interests in a covered loan but 

retains a majority interest in that loan, it does not report the sale. 

2. Type of purchaser—swapped covered loans. Covered loans “swapped” for mortgage-backed 

securities are to be treated as sales; the purchaser is the entity receiving the covered loans that 

are swapped. 

3. Type of purchaser—affiliate institution. For purposes of complying with § 1003.4(a)(11), the 

term “affiliate” means any company that controls, is controlled by, or is under common control 

with, another company, as set forth in the Bank Holding Company Act of 1956 (12 U.S.C. 1841 

et seq.). 

4. Type of purchaser—private securitizations. A financial institution that knows or reasonably 

believes that the covered loan it is selling will be securitized by the entity purchasing the 

covered loan, other than by one of the government-sponsored enterprises, reports the 

purchasing entity type as a private securitizer regardless of the type or affiliation of the 

purchasing entity. Knowledge or reasonable belief could, for example, be based on the 

purchase agreement or other related documents, the financial institution's previous transactions 

with the purchaser, or the purchaser's role as a securitizer (such as an investment bank). If a 

financial institution selling a covered loan does not know or reasonably believe that the 

purchaser will securitize the loan, and the seller knows that the purchaser frequently holds or 

disposes of loans by means other than securitization, then the financial institution should report 

the covered loan as purchased by, as appropriate, a commercial bank, savings bank, savings 

association, life insurance company, credit union, mortgage company, finance company, affiliate 

institution, or other type of purchaser. 

5. Type of purchaser—mortgage company. For purposes of complying with § 1003.4(a)(11), a 

mortgage company means a nondepository institution that purchases covered loans and 

typically originates such loans. A mortgage company might be an affiliate or a subsidiary of a 

bank holding company or thrift holding company, or it might be an independent mortgage 

company. Regardless, a financial institution reports the purchasing entity type as a mortgage 

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company, unless the mortgage company is an affiliate of the seller institution, in which case the 

seller institution should report the loan as purchased by an affiliate institution. 

6. Purchases by subsidiaries. A financial institution that sells a covered loan to its subsidiary 

that is a commercial bank, savings bank, or savings association, should report the covered loan 

as purchased by a commercial bank, savings bank, or savings association. A financial institution 

that sells a covered loan to its subsidiary that is a life insurance company, should report the 

covered loan as purchased by a life insurance company. A financial institution that sells a 

covered loan to its subsidiary that is a credit union, mortgage company, or finance company, 

should report the covered loan as purchased by a credit union, mortgage company, or finance 

company. If the subsidiary that purchases the covered loan is not a commercial bank, savings 

bank, savings association, life insurance company, credit union, mortgage company, or finance 

company, the seller institution should report the loan as purchased by other type of purchaser. 

The financial institution should report the covered loan as purchased by an affiliate institution 

when the subsidiary is an affiliate of the seller institution. 

7. Type of purchaser—bank holding company or thrift holding company. When a financial 

institution sells a covered loan to a bank holding company or thrift holding company (rather than 

to one of its subsidiaries), it should report the loan as purchased by other type of purchaser, 

unless the bank holding company or thrift holding company is an affiliate of the seller institution, 

in which case the seller institution should report the loan as purchased by an affiliate institution. 

8. Repurchased covered loans. See comment 4(a)-5 regarding reporting requirements when a 

covered loan is repurchased by the originating financial institution. 

9. Type of purchaser—quarterly recording. For purposes of recording the type of purchaser 

within 30 calendar days after the end of the calendar quarter pursuant to § 1003.4(f), a financial 

institution records that the requirement is not applicable if the institution originated or purchased 

a covered loan and did not sell it during the calendar quarter for which the institution is recording 

the data. If the financial institution sells the covered loan in a subsequent quarter of the same 

calendar year, the financial institution records the type of purchaser on its loan/application 

register for the quarter in which the covered loan was sold. If a financial institution sells the 

covered loan in a succeeding year, the financial institution should not record the sale. 

10. Type of purchaser—not applicable. A financial institution reports that the requirement is not 

applicable for applications that were denied, withdrawn, closed for incompleteness or approved 

but not accepted by the applicant; and for preapproval requests that were denied or approved 

but not accepted by the applicant. A financial institution also reports that the requirement is not 

applicable if the institution originated or purchased a covered loan and did not sell it during that 

same calendar year. 

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Paragraph 4(a)(12) 

1. Average prime offer rate. Average prime offer rates are annual percentage rates derived from 

average interest rates and other loan pricing terms offered to borrowers by a set of creditors for 

mortgage loans that have low-risk pricing characteristics. Other loan pricing terms may include 

commonly used indices, margins, and initial fixed-rate periods for variable-rate transactions. 

Relevant pricing characteristics may include a consumer's credit history and transaction 

characteristics such as the loan-to-value ratio, owner-occupant status, and purpose of the 

transaction. To obtain average prime offer rates, the Bureau uses creditor data by transaction 

type. 

2. Bureau tables. The Bureau publishes tables of current and historic average prime offer rates 

by transaction type on the FFIEC's Web site (http://www.ffiec.gov/hmda) and the Bureau's Web 

site (https://www.consumerfinance.gov). The Bureau calculates an annual percentage rate, 

consistent with Regulation Z (see 12 CFR 1026.22 and 12 CFR part 1026, appendix J), for each 

transaction type for which pricing terms are available from the creditor data described in 

comment 4(a)(12)-1. The Bureau uses loan pricing terms available in the creditor data and other 

information to estimate annual percentage rates for other types of transactions for which the 

creditor data are limited or not available. The Bureau publishes on the FFIEC's Web site and the 

Bureau's Web site the methodology it uses to arrive at these estimates. A financial institution 

may either use the average prime offer rates published by the Bureau or determine average 

prime offer rates itself by employing the methodology published on the FFIEC's Web site and 

the Bureau's Web site. A financial institution that determines average prime offer rates itself, 

however, is responsible for correctly determining the rates in accordance with the published 

methodology. 

3. Rate spread calculation—annual percentage rate. The requirements of § 1003.4(a)(12)(i) 

refer to the covered loan's annual percentage rate. For closed-end mortgage loans, a financial 

institution complies with § 1003.4(a)(12)(i) by relying on the annual percentage rate for the 

covered loan, as calculated and disclosed pursuant to Regulation Z, 12 CFR 1026.18 or 

1026.38. For open-end lines of credit, a financial institution complies with § 1003.4(a)(12)(i) by 

relying on the annual percentage rate for the covered loan, as calculated and disclosed 

pursuant to Regulation Z, 12 CFR 1026.6. If multiple annual percentage rates are calculated 

and disclosed pursuant to Regulation Z, 12 CFR 1026.6, a financial institution relies on the 

annual percentage rate in effect at the time of account opening. If an open-end line of credit has 

a variable-rate feature and a fixed-rate and -term payment option during the draw period, a 

financial institution relies on the annual percentage rate in effect at the time of account opening 

under the variable-rate feature, which would be a discounted initial rate if one is offered under 

the variable-rate feature. See comment 4(a)(12)-8 for guidance regarding the annual 

percentage rate a financial institution relies on in the case of an application or preapproval 

request that was approved but not accepted. 

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4. Rate spread calculation—comparable transaction. The rate spread calculation in 

§ 1003.4(a)(12)(i) is defined by reference to a comparable transaction, which is determined 

according to the covered loan's amortization type (i.e., fixed- or variable-rate) and loan term. For 

covered loans that are open-end lines of credit, § 1003.4(a)(12)(i) requires a financial institution 

to identify the most closely comparable closed-end transaction. The tables of average prime 

offer rates published by the Bureau (see comment 4(a)(12)-2) provide additional detail about 

how to identify the comparable transaction. 

i. Fixed-rate transactions. For fixed-rate covered loans, the term for identifying the 

comparable transaction is the transaction's maturity (i.e., the period until the last payment 

will be due under the closed-end mortgage loan contract or open-end line of credit 

agreement). If an open-end credit plan has a fixed rate but no definite plan length, a 

financial institution complies with § 1003.4(a)(12)(i) by using a 30-year fixed-rate loan as the 

most closely comparable closed-end transaction. Financial institutions may refer to the table 

on the FFIEC Web site entitled “Average Prime Offer Rates-Fixed” when identifying a 

comparable fixed-rate transaction. 

ii. Variable-rate transactions. For variable-rate covered loans, the term for identifying the 

comparable transaction is the initial, fixed-rate period (i.e., the period until the first scheduled 

rate adjustment). For example, five years is the relevant term for a variable-rate transaction 

with a five-year, fixed-rate introductory period that is amortized over thirty years. Financial 

institutions may refer to the table on the FFIEC Web site entitled “Average Prime Offer 

Rates-Variable” when identifying a comparable variable-rate transaction. If an open-end line 

of credit has a variable rate and an optional, fixed-rate feature, a financial institution uses 

the rate table for variable-rate transactions. 

iii. Term not in whole years. When a covered loan's term to maturity (or, for a variable-rate 

transaction, the initial fixed-rate period) is not in whole years, the financial institution uses 

the number of whole years closest to the actual loan term or, if the actual loan term is 

exactly halfway between two whole years, by using the shorter loan term. For example, for a 

loan term of ten years and three months, the relevant term is ten years; for a loan term of 

ten years and nine months, the relevant term is 11 years; for a loan term of ten years and 

six months, the relevant term is ten years. If a loan term includes an odd number of days, in 

addition to an odd number of months, the financial institution rounds to the nearest whole 

month, or rounds down if the number of odd days is exactly halfway between two months. 

The financial institution rounds to one year any covered loan with a term shorter than six 

months, including variable-rate covered loans with no initial, fixed-rate periods. For example, 

if an open-end covered loan has a rate that varies according to an index plus a margin, with 

no introductory, fixed-rate period, the transaction term is one year. 

iv. Amortization period longer than loan term. If the amortization period of a covered loan is 

longer than the term of the transaction to maturity, § 1003.4(a)(12)(i) requires a financial 

institution to use the loan term to determine the applicable average prime offer rate. For 

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example, assume a financial institution originates a closed-end, fixed-rate loan that has a 

term to maturity of five years and a thirty-year amortization period that results in a balloon 

payment. The financial institution complies with § 1003.4(a)(12)(i) by using the five-year loan 

term. 

5. Rate-set date. The relevant date to use to determine the average prime offer rate for a 

comparable transaction is the date on which the interest rate was set by the financial institution 

for the final time before final action is taken (i.e., the application was approved but not accepted 

or the covered loan was originated). 

i. Rate-lock agreement. If an interest rate is set pursuant to a “lock-in” agreement between 

the financial institution and the borrower, then the date on which the agreement fixes the 

interest rate is the date the rate was set. Except as provided in comment 4(a)(12)-5.ii, if a 

rate is reset after a lock-in agreement is executed (for example, because the borrower 

exercises a float-down option or the agreement expires), then the relevant date is the date 

the financial institution exercises discretion in setting the rate for the final time before final 

action is taken. The same rule applies when a rate-lock agreement is extended and the rate 

is reset at the same rate, regardless of whether market rates have increased, decreased, or 

remained the same since the initial rate was set. If no lock-in agreement is executed, then 

the relevant date is the date on which the institution sets the rate for the final time before 

final action is taken. 

ii. Change in loan program. If a financial institution issues a rate-lock commitment under one 

loan program, the borrower subsequently changes to another program that is subject to 

different pricing terms, and the financial institution changes the rate promised to the 

borrower under the rate-lock commitment accordingly, the rate-set date is the date of the 

program change. However, if the financial institution changes the promised rate to the rate 

that would have been available to the borrower under the new program on the date of the 

original rate-lock commitment, then that is the date the rate is set, provided the financial 

institution consistently follows that practice in all such cases or the original rate-lock 

agreement so provided. For example, assume that a borrower locks a rate of 2.5 percent on 

June 1 for a 30-year, variable-rate loan with a five-year, fixed-rate introductory period. On 

June 15, the borrower decides to switch to a 30-year, fixed-rate loan, and the rate available 

to the borrower for that product on June 15 is 4.0 percent. On June 1, the 30-year, fixed-rate 

loan would have been available to the borrower at a rate of 3.5 percent. If the financial 

institution offers the borrower the 3.5 percent rate (i.e., the rate that would have been 

available to the borrower for the fixed-rate product on June 1, the date of the original ratelock) because the original agreement so provided or because the financial institution 

consistently follows that practice for borrowers who change loan programs, then the 

financial institution should use June 1 as the rate-set date. In all other cases, the financial 

institution should use June 15 as the rate-set date. 

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iii. Brokered loans. When a financial institution has reporting responsibility for an application 

for a covered loan that it received from a broker, as discussed in comment 4(a)-2 (e.g., 

because the financial institution makes a credit decision prior to closing or account opening), 

the rate-set date is the last date the financial institution set the rate with the broker, not the 

date the broker set the borrower's rate. 

6. Compare the annual percentage rate to the average prime offer rate. Section 1003.4(a)(12)(i) 

requires a financial institution to compare the covered loan's annual percentage rate to the most 

recently available average prime offer rate that was in effect for the comparable transaction as 

of the rate-set date. For purposes of § 1003.4(a)(12)(i), the most recently available rate means 

the average prime offer rate set forth in the applicable table with the most recent effective date 

as of the date the interest rate was set. However, § 1003.4(a)(12)(i) does not permit a financial 

institution to use an average prime offer rate before its effective date. 

7. Rate spread—scope of requirement. If the covered loan is an assumption, reverse mortgage, 

a purchased loan, or is not subject to Regulation Z, 12 CFR part 1026, a financial institution 

complies with § 1003.4(a)(12) by reporting that the requirement is not applicable. If the 

application did not result in an origination for a reason other than the application was approved 

but not accepted by the applicant, a financial institution complies with § 1003.4(a)(12) by 

reporting that the requirement is not applicable. For partially exempt transactions under 

§ 1003.3(d), an insured depository institution or insured credit union is not required to report the 

rate spread. See § 1003.3(d) and related commentary. 

8. Application or preapproval request approved but not accepted. In the case of an application 

or preapproval request that was approved but not accepted, § 1003.4(a)(12) requires a financial 

institution to report the applicable rate spread. In such cases, the financial institution would 

provide early disclosures under Regulation Z, 12 CFR 1026.18 or 1026.37 (for closed-end 

mortgage loans), or 1026.40 (for open-end lines of credit), but might never provide any 

subsequent disclosures. In such cases where no subsequent disclosures are provided, a 

financial institution complies with § 1003.4(a)(12)(i) by relying on the annual percentage rate for 

the application or preapproval request, as calculated and disclosed pursuant to Regulation Z, 12 

CFR 1026.18 or 1026.37 (for closed-end mortgage loans), or 1026.40 (for open-end lines of 

credit), as applicable. For transactions subject to Regulation C for which no disclosures under 

Regulation Z are required, a financial institution complies with § 1003.4(a)(12)(i) by reporting 

that the requirement is not applicable. 

9. Corrected disclosures. In the case of a covered loan or an application that was approved but 

not accepted, if the annual percentage rate changes because a financial institution provides a 

corrected version of the disclosures required under Regulation Z, 12 CFR 1026.19(a), pursuant 

to 12 CFR 1026.19(a)(2), under 12 CFR 1026.19(f), pursuant to 12 CFR 1026.19(f)(2), or under 

12 CFR 1026.6(a), the financial institution complies with § 1003.4(a)(12)(i) by comparing the 

corrected and disclosed annual percentage rate to the most recently available average prime 

offer rate that was in effect for a comparable transaction as of the rate-set date, provided that 

the corrected disclosure was provided to the borrower prior to the end of the reporting period in 

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which final action is taken. For purposes of § 1003.4(a)(12), the date the corrected disclosure 

was provided to the borrower is the date the disclosure was mailed or delivered to the borrower 

in person; the financial institution's method of delivery does not affect the date provided. For 

example, where a financial institution provides a corrected version of the disclosures required 

under 12 CFR 1026.19(f), pursuant to 12 CFR 1026.19(f)(2), the date provided is the date 

disclosed pursuant to Regulation Z, 12 CFR 1026.38(a)(3)(i). The provision of a corrected 

disclosure does not affect how a financial institution determines the rate-set date. See comment 

4(a)(12)-5. For example, in the case of a financial institution's annual loan/application register 

submission made pursuant to § 1003.5(a)(1), if the financial institution provides a corrected 

disclosure to the borrower pursuant to Regulation Z, 12 CFR 1026.19(f)(2)(v), that reflects a 

corrected annual percentage rate, the financial institution reports the difference between the 

corrected annual percentage rate and the most recently available average prime offer rate that 

was in effect for a comparable transaction as of the rate-set date if the corrected disclosure was 

provided to the borrower prior to the end of the calendar year in which final action is taken. 

Paragraph 4(a)(13) 

1. HOEPA status—not applicable. If the covered loan is not subject to the Home Ownership and 

Equity Protection Act of 1994, as implemented in Regulation Z, 12 CFR 1026.32, a financial 

institution complies with § 1003.4(a)(13) by reporting that the requirement is not applicable. If an 

application did not result in an origination, a financial institution complies with § 1003.4(a)(13) by 

reporting that the requirement is not applicable. 

Paragraph 4(a)(14) 

1. Determining lien status for applications and covered loans originated and purchased. 

i. Financial institutions are required to report lien status for covered loans they originate and 

purchase and applications that do not result in originations (preapproval requests that are 

approved but not accepted, preapproval requests that are denied, applications that are 

approved but not accepted, denied, withdrawn, or closed for incompleteness). For covered 

loans purchased by a financial institution, lien status is determined by reference to the best 

information readily available to the financial institution at the time of purchase. For covered 

loans that a financial institution originates and applications that do not result in originations, 

lien status is determined by reference to the best information readily available to the 

financial institution at the time final action is taken and to the financial institution's own 

procedures. Thus, financial institutions may rely on the title search they routinely perform as 

part of their underwriting procedures—for example, for home purchase loans. Regulation C 

does not require financial institutions to perform title searches solely to comply with HMDA 

reporting requirements. Financial institutions may rely on other information that is readily 

available to them at the time final action is taken and that they reasonably believe is 

accurate, such as the applicant's statement on the application or the applicant's credit 

report. For example, where the applicant indicates on the application that there is a 

mortgage on the property or where the applicant's credit report shows that the applicant has 

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a mortgage—and that mortgage will not be paid off as part of the transaction—the financial 

institution may assume that the loan it originates is secured by a subordinate lien. If the 

same application did not result in an origination—for example, because the application was 

denied or withdrawn—the financial institution would report the application as an application 

for a subordinate-lien loan. 

ii. Financial institutions may also consider their established procedures when determining 

lien status for applications that do not result in originations. For example, assume an 

applicant applies to a financial institution to refinance a $100,000 first mortgage; the 

applicant also has an open-end line of credit for $20,000. If the financial institution's practice 

in such a case is to ensure that it will have first-lien position—through a subordination 

agreement with the holder of the lien securing the open-end line of credit—then the financial 

institution should report the application as an application for a first-lien covered loan. 

2. Multiple properties. See comment 4(a)(9)-2 regarding transactions involving multiple 

properties with more than one property taken as security. 

Paragraph 4(a)(15) 

1. Credit score—relied on. Except for purchased covered loans and partially exempt 

transactions under § 1003.3(d), § 1003.4(a)(15) requires a financial institution to report the 

credit score or scores relied on in making the credit decision and information about the scoring 

model used to generate each score. A financial institution relies on a credit score in making the 

credit decision if the credit score was a factor in the credit decision even if it was not a 

dispositive factor. For example, if a credit score is one of multiple factors in a financial 

institution's credit decision, the financial institution has relied on the credit score even if the 

financial institution denies the application because one or more underwriting requirements other 

than the credit score are not satisfied. 

2. Credit score—multiple credit scores. When a financial institution obtains or creates two or 

more credit scores for a single applicant or borrower but relies on only one score in making the 

credit decision (for example, by relying on the lowest, highest, most recent, or average of all of 

the scores), the financial institution complies with § 1003.4(a)(15) by reporting that credit score 

and information about the scoring model used. When a financial institution uses more than one 

credit scoring model and combines the scores into a composite credit score that it relies on, the 

financial institution reports that score and reports that more than one credit scoring model was 

used. When a financial institution obtains or creates two or more credit scores for an applicant 

or borrower and relies on multiple scores for the applicant or borrower in making the credit 

decision (for example, by relying on a scoring grid that considers each of the scores obtained or 

created for the applicant or borrower without combining the scores into a composite score), 

§ 1003.4(a)(15) requires the financial institution to report one of the credit scores for the 

applicant or borrower that was relied on in making the credit decision. In choosing which credit 

score to report in this circumstance, a financial institution need not use the same approach for 

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its entire HMDA submission, but it should be generally consistent (such as by routinely using 

one approach within a particular division of the institution or for a category of covered loans). In 

instances such as these, the financial institution should report the name and version of the 

credit scoring model for the score reported. 

3. Credit score—multiple applicants or borrowers. In a transaction involving two or more 

applicants or borrowers for whom the financial institution obtains or creates a single credit score 

and relies on that credit score in making the credit decision for the transaction, the institution 

complies with § 1003.4(a)(15) by reporting that credit score for the applicant and reporting that 

the requirement is not applicable for the first co-applicant or, at the financial institution's 

discretion, by reporting that credit score for the first co-applicant and reporting that the 

requirement is not applicable for the applicant. Otherwise, a financial institution complies with 

§ 1003.4(a)(15) by reporting a credit score for the applicant that it relied on in making the credit 

decision, if any, and a credit score for the first co-applicant that it relied on in making the credit 

decision, if any. To illustrate, assume a transaction involves one applicant and one co-applicant 

and that the financial institution obtains or creates two credit scores for the applicant and two 

credit scores for the co-applicant. Assume further that the financial institution relies on a single 

credit score that is the lowest, highest, most recent, or average of all of the credit scores 

obtained or created to make the credit decision for the transaction. The financial institution 

complies with § 1003.4(a)(15) by reporting that credit score and information about the scoring 

model used for the applicant and reporting that the requirement is not applicable for the first coapplicant or, at the financial institution's discretion, by reporting the data for the first co-applicant 

and reporting that the requirement is not applicable for the applicant. Alternatively, assume a 

transaction involves one applicant and one co-applicant and that the financial institution obtains 

or creates three credit scores for the applicant and three credit scores for the co-applicant. 

Assume further that the financial institution relies on the middle credit score for the applicant 

and the middle credit score for the co-applicant to make the credit decision for the transaction. 

The financial institution complies with § 1003.4(a)(15) by reporting both the middle score for the 

applicant and the middle score for the co-applicant. 

4. Transactions for which no credit decision was made. If a file was closed for incompleteness 

or the application was withdrawn before a credit decision was made, the financial institution 

complies with § 1003.4(a)(15) by reporting that the requirement is not applicable, even if the 

financial institution had obtained or created a credit score for the applicant or co-applicant. For 

example, if a file is closed for incompleteness and is so reported in accordance with 

§ 1003.4(a)(8), the financial institution complies with § 1003.4(a)(15) by reporting that the 

requirement is not applicable, even if the financial institution had obtained or created a credit 

score for the applicant or co-applicant. Similarly, if an application was withdrawn by the 

applicant before a credit decision was made and is so reported in accordance with 

§ 1003.4(a)(8), the financial institution complies with § 1003.4(a)(15) by reporting that the 

requirement is not applicable, even if the financial institution had obtained or created a credit 

score for the applicant or co-applicant. 

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5. Transactions for which no credit score was relied on. If a financial institution makes a credit 

decision without relying on a credit score for the applicant or borrower, the financial institution 

complies with § 1003.4(a)(15) by reporting that the requirement is not applicable. 

6. Purchased covered loan. A financial institution complies with § 1003.4(a)(15) by reporting that 

the requirement is not applicable when the covered loan is a purchased covered loan. 

7. Non-natural person. When the applicant and co-applicant, if applicable, are not natural 

persons, a financial institution complies with § 1003.4(a)(15) by reporting that the requirement is 

not applicable. 

Paragraph 4(a)(16) 

1. Reason for denial—general. A financial institution complies with § 1003.4(a)(16) by reporting
 

the principal reason or reasons it denied the application, indicating up to four reasons. The
 

financial institution should report only the principal reason or reasons it denied the application,
 

even if there are fewer than four reasons. For example, if a financial institution denies the
 

application because of the applicant's credit history and debt-to-income ratio, the financial
 

institution need only report these two principal reasons. The reasons reported must be specific
 

and accurately describe the principal reason or reasons the financial institution denied the
 

application.
 

2. Reason for denial—preapproval request denied. Section 1003.4(a)(16) requires a financial
 

institution to report the principal reason or reasons it denied the application. A request for a
 

preapproval under a preapproval program as defined by § 1003.2(b)(2) is an application. If a
 

financial institution denies a preapproval request, the financial institution complies with
 

§ 1003.4(a)(16) by reporting the reason or reasons it denied the preapproval request.
 

3. Reason for denial—adverse action model form or similar form. If a financial institution
 

chooses to provide the applicant the reason or reasons it denied the application using the model
 

form contained in appendix C to Regulation B (Form C-1, Sample Notice of Action Taken and
 

Statement of Reasons) or a similar form, § 1003.4(a)(16) requires the financial institution to
 

report the reason or reasons that were specified on the form by the financial institution, which
 

includes reporting the “Other” reason or reasons that were specified on the form by the financial
	

institution, if applicable. If a financial institution chooses to provide a disclosure of the applicant's
 

right to a statement of specific reasons using the model form contained in appendix C to
 

Regulation B (Form C-5, Sample Disclosure of Right to Request Specific Reasons for Credit
 

Denial) or a similar form, or chooses to provide the denial reason or reasons orally under
 

Regulation B, 12 CFR 1002.9(a)(2)(ii), the financial institution complies with § 1003.4(a)(16) by
 

entering the principal reason or reasons it denied the application.
 

4. Reason for denial—scope of requirement. A financial institution complies with § 1003.4(a)(16)
 

by reporting that the requirement is not applicable if the action taken on the application,
 

pursuant to § 1003.4(a)(8), is not a denial. For example, a financial institution complies with
 

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§ 1003.4(a)(16) by reporting that the requirement is not applicable if the loan is originated or 

purchased by the financial institution, or the application or preapproval request was approved 

but not accepted, or the application was withdrawn before a credit decision was made, or the file 

was closed for incompleteness. For partially exempt transactions under § 1003.3(d), an insured 

depository institution or insured credit union is not required to report the principal reason or 

reasons it denied an application. See § 1003.3(d) and related commentary. 

Paragraph 4(a)(17)(i) 

1. Total loan costs—scope of requirement. Section 1003.4(a)(17)(i) does not require financial 

institutions to report the total loan costs for applications, or for transactions not subject to 

Regulation Z, 12 CFR 1026.43(c), and 12 CFR 1026.19(f), such as open-end lines of credit, 

reverse mortgages, or loans or lines of credit made primarily for business or commercial 

purposes. In these cases, a financial institution complies with § 1003.4(a)(17)(i) by reporting that 

the requirement is not applicable to the transaction. For partially exempt transactions under 

§ 1003.3(d), an insured depository institution or insured credit union is not required to report the 

total loan costs. See § 1003.3(d) and related commentary. 

2. Purchased loans—applications received prior to the integrated disclosure effective date. For 

purchased covered loans subject to this reporting requirement for which applications were 

received by the selling entity prior to the effective date of Regulation Z, 12 CFR 1026.19(f), a 

financial institution complies with § 1003.4(a)(17)(i) by reporting that the requirement is not 

applicable to the transaction. 

3. Corrected disclosures. If the amount of total loan costs changes because a financial 

institution provides a corrected version of the disclosures required under Regulation Z, 12 CFR 

1026.19(f), pursuant to 12 CFR 1026.19(f)(2), the financial institution complies with 

§ 1003.4(a)(17)(i) by reporting the corrected amount, provided that the corrected disclosure was 

provided to the borrower prior to the end of the reporting period in which closing occurs. For 

purposes of § 1003.4(a)(17)(i), the date the corrected disclosure was provided to the borrower is 

the date disclosed pursuant to Regulation Z, 12 CFR 1026.38(a)(3)(i). For example, in the case 

of a financial institution's annual loan/application register submission made pursuant to 

§ 1003.5(a)(1), if the financial institution provides a corrected disclosure to the borrower to 

reflect a refund made pursuant to Regulation Z, 12 CFR 1026.19(f)(2)(v), the financial institution 

reports the corrected amount of total loan costs only if the corrected disclosure was provided to 

the borrower prior to the end of the calendar year in which closing occurs. 

Paragraph 4(a)(17)(ii) 

1. Total points and fees—scope of requirement. Section 1003.4(a)(17)(ii) does not require 

financial institutions to report the total points and fees for transactions not subject to Regulation 

Z, 12 CFR 1026.43(c), such as open-end lines of credit, reverse mortgages, or loans or lines of 

credit made primarily for business or commercial purposes, or for applications or purchased 

covered loans. In these cases, a financial institution complies with § 1003.4(a)(17)(ii) by 

reporting that the requirement is not applicable to the transaction. For partially exempt 

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transactions under § 1003.3(d), an insured depository institution or insured credit union is not 

required to report the total points and fees. See § 1003.3(d) and related commentary. 

2. Total points and fees cure mechanism. For covered loans subject to this reporting 

requirement, if a financial institution determines that the transaction's total points and fees 

exceeded the applicable limit and cures the overage pursuant to Regulation Z, 12 CFR 

1026.43(e)(3)(iii) and (iv), a financial institution complies with § 1003.4(a)(17)(ii) by reporting the 

correct amount of total points and fees, provided that the cure was effected during the same 

reporting period in which closing occurred. For example, in the case of a financial institution's 

quarterly submission, the financial institution reports the revised amount of total points and fees 

only if it cured the overage prior to the end of the quarter in which closing occurred. The 

financial institution does not report the revised amount of total points and fees in its quarterly 

submission if it cured the overage after the end of the quarter, even if the cure was effected 

prior to the deadline for timely submission of the financial institution's quarterly data. However, 

the financial institution reports the revised amount of total points and fees on its annual 

loan/application register. 

Paragraph 4(a)(18) 

1. Origination charges—scope of requirement. Section 1003.4(a)(18) does not require financial 

institutions to report the total borrower-paid origination charges for applications, or for 

transactions not subject to Regulation Z, 12 CFR 1026.19(f), such as open-end lines of credit, 

reverse mortgages, or loans or lines of credit made primarily for business or commercial 

purposes. In these cases, a financial institution complies with § 1003.4(a)(18) by reporting that 

the requirement is not applicable to the transaction. For partially exempt transactions under 

§ 1003.3(d), an insured depository institution or insured credit union is not required to report the 

total borrower-paid origination charges. See § 1003.3(d) and related commentary. 

2. Purchased loans—applications received prior to the integrated disclosure effective date. For 

purchased covered loans subject to this reporting requirement for which applications were 

received by the selling entity prior to the effective date of Regulation Z, 12 CFR 1026.19(f), a 

financial institution complies with § 1003.4(a)(18) by reporting that the requirement is not 

applicable to the transaction. 

3. Corrected disclosures. If the total amount of borrower-paid origination charges changes 

because a financial institution provides a corrected version of the disclosures required under 

Regulation Z, 12 CFR 1026.19(f), pursuant to 12 CFR 1026.19(f)(2), the financial institution 

complies with §1003.4(a)(18) by reporting the corrected amount, provided that the corrected 

disclosure was provided to the borrower prior to the end of the reporting period in which closing 

occurs. For purposes of §1003.4(a)(18), the date the corrected disclosure was provided to the 

borrower is the date disclosed pursuant to Regulation Z, 12 CFR 1026.38(a)(3)(i). For example, 

in the case of a financial institution's annual loan/application register submission made pursuant 

to §1003.5(a)(1), if the financial institution provides a corrected disclosure to the borrower to 

reflect a refund made pursuant to Regulation Z, 12 CFR 1026.19(f)(2)(v), the financial institution 

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reports the corrected amount of borrower-paid origination charges only if the corrected 

disclosure was provided to the borrower prior to the end of the calendar year in which closing 

occurs. 

Paragraph 4(a)(19) 

1. Discount points—scope of requirement. Section 1003.4(a)(19) does not require financial 

institutions to report the discount points for applications, or for transactions not subject to 

Regulation Z, 12 CFR 1026.19(f), such as open-end lines of credit, reverse mortgages, or loans 

or lines of credit made primarily for business or commercial purposes. In these cases, a 

financial institution complies with § 1003.4(a)(19) by reporting that the requirement is not 

applicable to the transaction. For partially exempt transactions under § 1003.3(d), an insured 

depository institution or insured credit union is not required to report the discount points. See 

§ 1003.3(d) and related commentary. 

2. Purchased loans—applications received prior to the integrated disclosure effective date. For 

purchased covered loans subject to this reporting requirement for which applications were 

received by the selling entity prior to the effective date of Regulation Z, 12 CFR 1026.19(f), a 

financial institution complies with § 1003.4(a)(19) by reporting that the requirement is not 

applicable to the transaction. 

3. Corrected disclosures. If the amount of discount points changes because a financial 

institution provides a corrected version of the disclosures required under Regulation Z, 12 CFR 

1026.19(f), pursuant to 12 CFR 1026.19(f)(2), the financial institution complies with 

§ 1003.4(a)(19) by reporting the corrected amount, provided that the corrected disclosure was 

provided to the borrower prior to the end of the reporting period in which closing occurs. For 

purposes of §1003.4(a)(19), the date the corrected disclosure was provided to the borrower is 

the date disclosed pursuant to Regulation Z, 12 CFR 1026.38(a)(3)(i). For example, in the case 

of a financial institution's annual loan/application register submission made pursuant to 

§ 1003.5(a)(1), if the financial institution provides a corrected disclosure to the borrower to 

reflect a refund made pursuant to Regulation Z, 12 CFR 1026.19(f)(2)(v), the financial institution 

reports the corrected amount of discount points only if the corrected disclosure was provided to 

the borrower prior to the end of the calendar year in which closing occurs. 

Paragraph 4(a)(20) 

1. Lender credits—scope of requirement. Section 1003.4(a)(20) does not require financial 

institutions to report lender credits for applications, or for transactions not subject to Regulation 

Z, 12 CFR 1026.19(f), such as open-end lines of credit, reverse mortgages, or loans or lines of 

credit made primarily for business or commercial purposes. In these cases, a financial institution 

complies with § 1003.4(a)(20) by reporting that the requirement is not applicable to the 

transaction. For partially exempt transactions under § 1003.3(d), an insured depository 

institution or insured credit union is not required to report lender credits. See § 1003.3(d) and 

related commentary. 

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2. Purchased loans—applications received prior to the integrated disclosure effective date. For 

purchased covered loans subject to this reporting requirement for which applications were 

received by the selling entity prior to the effective date of Regulation Z, 12 CFR 1026.19(f), a 

financial institution complies with § 1003.4(a)(20) by reporting that the requirement is not 

applicable to the transaction. 

3. Corrected disclosures. If the amount of lender credits changes because a financial institution 

provides a corrected version of the disclosures required under Regulation Z, 12 CFR 1026.19(f), 

pursuant to 12 CFR 1026.19(f)(2), the financial institution complies with § 1003.4(a)(20) by 

reporting the corrected amount, provided that the corrected disclosure was provided to the 

borrower prior to the end of the reporting period in which closing occurs. For purposes of 

§ 1003.4(a)(20), the date the corrected disclosure was provided to the borrower is the date 

disclosed pursuant to Regulation Z, 12 CFR 1026.38(a)(3)(i). For example, in the case of a 

financial institution's annual loan/application register submission made pursuant to 

§ 1003.5(a)(1), if the financial institution provides a corrected disclosure to the borrower to 

reflect a refund made pursuant to Regulation Z, 12 CFR 1026.19(f)(2)(v), the financial institution 

reports the corrected amount of lender credits only if the corrected disclosure was provided to 

the borrower prior to the end of the calendar year in which closing occurs. 

Paragraph 4(a)(21) 

1. Interest rate—disclosures. Except for partially exempt transactions under §1003.3(d), § 

1003.4(a)(21) requires a financial institution to identify the interest rate applicable to the 

approved application, or to the covered loan at closing or account opening. For covered loans or 

applications subject to the integrated mortgage disclosure requirements of Regulation Z, 12 

CFR 1026.19(e) and (f), a financial institution complies with § 1003.4(a)(21) by reporting the 

interest rate disclosed on the applicable disclosure. For covered loans or approved applications 

for which disclosures were provided pursuant to both the early and the final disclosure 

requirements in Regulation Z, 12 CFR 1026.19(e) and (f), a financial institution reports the 

interest rate disclosed pursuant to 12 CFR 1026.19(f). A financial institution may rely on the 

definitions and commentary to the sections of Regulation Z relevant to the disclosure of the 

interest rate pursuant to 12 CFR 1026.19(e) or (f). If a financial institution provides a revised or 

corrected version of the disclosures required under Regulation Z, 12 CFR 1026.19(e) or (f), 

pursuant to 12 CFR 1026.19(e)(3)(iv) or (f)(2), as applicable, the financial institution complies 

with § 1003.4(a)(21) by reporting the interest rate on the revised or corrected disclosure, 

provided that the revised or corrected disclosure was provided to the borrower prior to the end 

of the reporting period in which final action is taken. For purposes of § 1003.4(a)(21), the date 

the revised or corrected disclosure was provided to the borrower is the date disclosed pursuant 

to Regulation Z, 12 CFR 1026.37(a)(4) or 1026.38(a)(3)(i), as applicable. 

2. Applications. In the case of an application, § 1003.4(a)(21) requires a financial institution to 

report the applicable interest rate only if the application has been approved by the financial 

institution but not accepted by the borrower. In such cases, a financial institution reports the 

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interest rate applicable at the time that the application was approved by the financial institution. 

A financial institution may report the interest rate appearing on the disclosure provided pursuant 

to 12 CFR 1026.19(e) or (f) if such disclosure accurately reflects the interest rate at the time the 

application was approved. For applications that have been denied or withdrawn, or files closed 

for incompleteness, a financial institution reports that no interest rate was applicable to the 

application. 

3. Adjustable rate—interest rate unknown. Except as provided in comment 4(a)(21)-1, for 

adjustable-rate covered loans or applications, if the interest rate is unknown at the time that the 

application was approved, or at closing or account opening, a financial institution reports the 

fully-indexed rate based on the index applicable to the covered loan or application. For 

purposes of § 1003.4(a)(21), the fully-indexed rate is the index value and margin at the time that 

the application was approved, or, for covered loans, at closing or account opening. 

Paragraph 4(a)(22) 

1. Prepayment penalty term—scope of requirement. Section 1003.4(a)(22) does not require 

financial institutions to report the term of any prepayment penalty for transactions not subject to 

Regulation Z, 12 CFR part 1026, such as loans or lines of credit made primarily for business or 

commercial purposes, or for reverse mortgages or purchased covered loans. In these cases, a 

financial institution complies with § 1003.4(a)(22) by reporting that the requirement is not 

applicable to the transaction. For partially exempt transactions under § 1003.3(d), an insured 

depository institution or insured credit union is not required to report the term of any prepayment 

penalty. See § 1003.3(d) and related commentary. 

2. Transactions for which no prepayment penalty exists. For covered loans or applications that 

have no prepayment penalty, a financial institution complies with § 1003.4(a)(22) by reporting 

that the requirement is not applicable to the transaction. A financial institution may rely on the 

definitions and commentary to Regulation Z, 12 CFR 1026.32(b)(6)(i) or (ii) in determining 

whether the terms of a transaction contain a prepayment penalty. 

Paragraph 4(a)(23) 

1. General. For covered loans that are not purchased covered loans and that are not partially 

exempt under § 1003.3(d), § 1003.4(a)(23) requires a financial institution to report the ratio of 

the applicant's or borrower's total monthly debt to total monthly income (debt-to-income ratio) 

relied on in making the credit decision. For example, if a financial institution calculated the 

applicant's or borrower's debt-to-income ratio twice—once according to the financial institution's 

own requirements and once according to the requirements of a secondary market investor—and 

the financial institution relied on the debt-to-income ratio calculated according to the secondary 

market investor's requirements in making the credit decision, § 1003.4(a)(23) requires the 

financial institution to report the debt-to-income ratio calculated according to the requirements of 

the secondary market investor. 

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2. Transactions for which a debt-to-income ratio was one of multiple factors. A financial 

institution relies on the ratio of the applicant's or borrower's total monthly debt to total monthly 

income (debt-to-income ratio) in making the credit decision if the debt-to-income ratio was a 

factor in the credit decision even if it was not a dispositive factor. For example, if the debt-toincome ratio was one of multiple factors in a financial institution's credit decision, the financial 

institution has relied on the debt-to-income ratio and complies with § 1003.4(a)(23) by reporting 

the debt-to-income ratio, even if the financial institution denied the application because one or 

more underwriting requirements other than the debt-to-income ratio were not satisfied. 

3. Transactions for which no credit decision was made. If a file was closed for incompleteness, 

or if an application was withdrawn before a credit decision was made, a financial institution 

complies with § 1003.4(a)(23) by reporting that the requirement is not applicable, even if the 

financial institution had calculated the ratio of the applicant's total monthly debt to total monthly 

income (debt-to-income ratio). For example, if a file was closed for incompleteness and was so 

reported in accordance with § 1003.4(a)(8), the financial institution complies with 

§ 1003.4(a)(23) by reporting that the requirement is not applicable, even if the financial 

institution had calculated the applicant's debt-to-income ratio. Similarly, if an application was 

withdrawn by the applicant before a credit decision was made, the financial institution complies 

with § 1003.4(a)(23) by reporting that the requirement is not applicable, even if the financial 

institution had calculated the applicant's debt-to-income ratio. 

4. Transactions for which no debt-to-income ratio was relied on. Section 1003.4(a)(23) does not 

require a financial institution to calculate the ratio of an applicant's or borrower's total monthly 

debt to total monthly income (debt-to-income ratio), nor does it require a financial institution to 

rely on an applicant's or borrower's debt-to-income ratio in making a credit decision. If a 

financial institution made a credit decision without relying on the applicant's or borrower's debtto-income ratio, the financial institution complies with § 1003.4(a)(23) by reporting that the 

requirement is not applicable since no debt-to-income ratio was relied on in connection with the 

credit decision. 

5. Non-natural person. A financial institution complies with § 1003.4(a)(23) by reporting that the 

requirement is not applicable when the applicant and co-applicant, if applicable, are not natural 

persons. 

6. Multifamily dwellings. A financial institution complies with § 1003.4(a)(23) by reporting that the 

requirement is not applicable for a covered loan secured by, or an application proposed to be 

secured by, a multifamily dwelling. 

7. Purchased covered loans. A financial institution complies with § 1003.4(a)(23) by reporting 

that the requirement is not applicable when reporting a purchased covered loan. 

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Paragraph 4(a)(24) 

1. General. Except for purchased covered loans and partially exempt transactions under 

§ 1003.3(d), § 1003.4(a)(24) requires a financial institution to report, except for purchased 

covered loans, the ratio of the total amount of debt secured by the property to the value of the 

property (combined loan-to-value ratio) relied on in making the credit decision. For example, if a 

financial institution calculated a combined loan-to-value ratio twice—once according to the 

financial institution's own requirements and once according to the requirements of a secondary 

market investor—and the financial institution relied on the combined loan-to-value ratio 

calculated according to the secondary market investor's requirements in making the credit 

decision, § 1003.4(a)(24) requires the financial institution to report the combined loan-to-value 

ratio calculated according to the requirements of the secondary market investor. 

2. Transactions for which a combined loan-to-value ratio was one of multiple factors. A financial 

institution relies on the ratio of the total amount of debt secured by the property to the value of 

the property (combined loan-to-value ratio) in making the credit decision if the combined loan-tovalue ratio was a factor in the credit decision, even if it was not a dispositive factor. For 

example, if the combined loan-to-value ratio is one of multiple factors in a financial institution's 

credit decision, the financial institution has relied on the combined loan-to-value ratio and 

complies with § 1003.4(a)(24) by reporting the combined loan-to-value ratio, even if the financial 

institution denies the application because one or more underwriting requirements other than the 

combined loan-to-value ratio are not satisfied. 

3. Transactions for which no credit decision was made. If a file was closed for incompleteness, 

or if an application was withdrawn before a credit decision was made, a financial institution 

complies with § 1003.4(a)(24) by reporting that the requirement is not applicable, even if the 

financial institution had calculated the ratio of the total amount of debt secured by the property 

to the value of the property (combined loan-to-value ratio). For example, if a file is closed for 

incompleteness and is so reported in accordance with § 1003.4(a)(8), the financial institution 

complies with § 1003.4(a)(24) by reporting that the requirement is not applicable, even if the 

financial institution had calculated a combined loan-to-value ratio. Similarly, if an application was 

withdrawn by the applicant before a credit decision was made and is so reported in accordance 

with § 1003.4(a)(8), the financial institution complies with § 1003.4(a)(24) by reporting that the 

requirement is not applicable, even if the financial institution had calculated a combined loan-tovalue ratio. 

4. Transactions for which no combined loan-to-value ratio was relied on. Section 1003.4(a)(24) 

does not require a financial institution to calculate the ratio of the total amount of debt secured 

by the property to the value of the property (combined loan-to-value ratio), nor does it require a 

financial institution to rely on a combined loan-to-value ratio in making a credit decision. If a 

financial institution makes a credit decision without relying on a combined loan-to-value ratio, 

the financial institution complies with § 1003.4(a)(24) by reporting that the requirement is not 

applicable since no combined loan-to-value ratio was relied on in making the credit decision. 

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5. Purchased covered loan. A financial institution complies with § 1003.4(a)(24) by reporting that 

the requirement is not applicable when the covered loan is a purchased covered loan. 

6. Property. A financial institution reports the combined loan-to-value ratio relied on in making 

the credit decision, regardless of which property or properties it used in the combined loan-tovalue ratio calculation. The property used in the combined loan-to-value ratio calculation does 

not need to be the property identified in § 1003.4(a)(9) and may include more than one property 

and non-real property. For example, if a financial institution originated a covered loan for the 

purchase of a multifamily dwelling, the loan was secured by the multifamily dwelling and by nonreal property, such as securities, and the financial institution used the multifamily dwelling and 

the non-real property to calculate the combined loan-to-value ratio that it relied on in making the 

credit decision, § 1003.4(a)(24) requires the financial institution to report the relied upon ratio. 

Section 1003.4(a)(24) does not require a financial institution to use a particular combined loanto-value ratio calculation method but instead requires financial institutions to report the 

combined loan-to-value ratio relied on in making the credit decision. 

Paragraph 4(a)(25) 

1. Amortization and maturity. For a fully amortizing covered loan, the number of months after 

which the legal obligation matures is the number of months in the amortization schedule, ending 

with the final payment. Some covered loans do not fully amortize during the maturity term, such 

as covered loans with a balloon payment; such loans should still be reported using the maturity 

term rather than the amortization term, even in the case of covered loans that mature before 

fully amortizing but have reset options. For example, a 30-year fully amortizing covered loan 

would be reported with a term of “360,” while a five year balloon covered loan would be reported 

with a loan term of “60.” 

2. Non-monthly repayment periods. If a covered loan or application includes a schedule with 

repayment periods measured in a unit of time other than months, the financial institution should 

report the covered loan or application term using an equivalent number of whole months without 

regard for any remainder. 

3. Purchased loans. For a covered loan that was purchased, a financial institution reports the 

number of months after which the legal obligation matures as measured from the covered loan's 

origination. 

4. Open-end line of credit. For an open-end line of credit with a definite term, a financial 

institution reports the number of months from origination until the account termination date, 

including both the draw and repayment period. 

5. Loan term—scope of requirement. For a covered loan or application without a definite term, 

such as a reverse mortgage, a financial institution complies with § 1003.4(a)(25) by reporting 

that the requirement is not applicable. For partially exempt transactions under § 1003.3(d), an 

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insured depository institution or insured credit union is not required to report the loan term. See 

§ 1003.3(d) and related commentary. 

Paragraph 4(a)(26) 

1. Types of introductory rates. Except for partially exempt transactions under § 1003.3(d), 

§ 1003.4(a)(26) requires a financial institution to report the number of months, or proposed 

number of months in the case of an application, from closing or account opening until the first 

date the interest rate may change. For example, assume an open-end line of credit contains an 

introductory or “teaser” interest rate for two months after the date of account opening, after 

which the interest rate may adjust. In this example, the financial institution complies with 

§ 1003.4(a)(26) by reporting the number of months as “2.” Section 1003.4(a)(26) requires a 

financial institution to report the number of months based on when the first interest rate 

adjustment may occur, even if an interest rate adjustment is not required to occur at that time 

and even if the rates that will apply, or the periods for which they will apply, are not known at 

closing or account opening. For example, if a closed-end mortgage loan with a 30-year term has 

an adjustable-rate product with an introductory interest rate for the first 60 months, after which 

the interest rate is permitted, but not required to vary, according to the terms of an index rate, 

the financial institution complies with § 1003.4(a)(26) by reporting the number of months as “60.” 

Similarly, if a closed-end mortgage loan with a 30-year term is a step-rate product with an 

introductory interest rate for the first 24 months, after which the interest rate will increase to a 

different known interest rate for the next 36 months, the financial institution complies with 

§ 1003.4(a)(26) by reporting the number of months as “24.” 

2. Preferred rates. Section 1003.4(a)(26) does not require reporting of introductory interest rate 

periods based on preferred rates unless the terms of the legal obligation provide that the 

preferred rate will expire at a certain defined date. Preferred rates include terms of the legal 

obligation that provide that the initial underlying rate is fixed but that it may increase or decrease 

upon the occurrence of some future event, such as an employee leaving the employ of the 

financial institution, the borrower closing an existing deposit account with the financial institution, 

or the borrower revoking an election to make automated payments. In these cases, because it is 

not known at the time of closing or account opening whether the future event will occur, and if 

so, when it will occur, § 1003.4(a)(26) does not require reporting of an introductory interest rate 

period. 

3. Loan or application with a fixed rate. A financial institution complies with § 1003.4(a)(26) by 

reporting that the requirement is not applicable for a covered loan with a fixed rate or an 

application for a covered loan with a fixed rate. 

4. Purchased loan. A financial institution complies with § 1003.4(a)(26) by reporting that 

requirement is not applicable when the covered loan is a purchased covered loan with a fixed 

rate. 

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5. Non-monthly introductory periods. If a covered loan or application includes an introductory 

interest rate period measured in a unit of time other than months, the financial institution 

complies with § 1003.4(a)(26) by reporting the introductory interest rate period for the covered 

loan or application using an equivalent number of whole months without regard for any 

remainder. For example, assume an open-end line of credit contains an introductory interest 

rate for 50 days after the date of account opening, after which the interest rate may adjust. In 

this example, the financial institution complies with § 1003.4(a)(26) by reporting the number of 

months as “1.” The financial institution must report one month for any introductory interest rate 

period that totals less than one whole month. 

Paragraph 4(a)(27) 

1. General. Except for partially exempt transactions under § 1003.3(d), § 1003.4(a)(27) requires 

reporting of contractual features that would allow payments other than fully amortizing 

payments. Section 1003.4(a)(27) defines the contractual features by reference to Regulation Z, 

12 CFR part 1026, but without regard to whether the covered loan is consumer credit, as 

defined in § 1026.2(a)(12), is extended by a creditor, as defined in § 1026.2(a)(17), or is 

extended to a consumer, as defined in § 1026.2(a)(11), and without regard to whether the 

property is a dwelling as defined in § 1026.2(a)(19). For example, assume that a financial 

institution originates a business-purpose transaction that is exempt from Regulation Z pursuant 

to 12 CFR 1026.3(a)(1), to finance the purchase of a multifamily dwelling, and that there is a 

balloon payment, as defined by Regulation Z, 12 CFR 1026.18(s)(5)(i), at the end of the loan 

term. The multifamily dwelling is a dwelling under § 1003.2(f), but not under Regulation Z, 12 

CFR 1026.2(a)(19). In this example, the financial institution should report the business-purpose 

transaction as having a balloon payment under § 1003.4(a)(27)(i), assuming the other 

requirements of this part are met. Aside from these distinctions, financial institutions may rely on 

the definitions and related commentary provided in the appropriate sections of Regulation Z 

referenced in § 1003.4(a)(27) of this part in determining whether the contractual feature should 

be reported. 

Paragraph 4(a)(28). 

1. General. Except for partially exempt transactions under § 1003.3(d), § 1003.4(a)(28) requires 

a financial institution to report the property value relied on in making the credit decision. For 

example, if the institution relies on an appraisal or other valuation for the property in calculating 

the loan-to-value ratio, it reports that value; if the institution relies on the purchase price of the 

property in calculating the loan-to-value ratio, it reports that value. 

2. Multiple property values. When a financial institution obtains two or more valuations of the 

property securing or proposed to secure the covered loan, the financial institution complies with 

§ 1003.4(a)(28) by reporting the value relied on in making the credit decision. For example, 

when a financial institution obtains an appraisal, an automated valuation model report, and a 

broker price opinion with different values for the property, it reports the value relied on in making 

the credit decision. Section § 1003.4(a)(28) does not require a financial institution to use a 

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particular property valuation method, but instead requires a financial institution to report the 

valuation relied on in making the credit decision. 

3. Transactions for which no credit decision was made. If a file was closed for incompleteness 

or the application was withdrawn before a credit decision was made, the financial institution 

complies with § 1003.4(a)(28) by reporting that the requirement is not applicable, even if the 

financial institution had obtained a property value. For example, if a file is closed for 

incompleteness and is so reported in accordance with § 1003.4(a)(8), the financial institution 

complies with § 1003.4(a)(28) by reporting that the requirement is not applicable, even if the 

financial institution had obtained a property value. Similarly, if an application was withdrawn by 

the applicant before a credit decision was made and is so reported in accordance with 

§ 1003.4(a)(8), the financial institution complies with § 1003.4(a)(28) by reporting that the 

requirement is not applicable, even if the financial institution had obtained a property value. 

4. Transactions for which no property value was relied on. Section 1003.4(a)(28) does not 

require a financial institution to obtain a property valuation, nor does it require a financial 

institution to rely on a property value in making a credit decision. If a financial institution makes 

a credit decision without relying on a property value, the financial institution complies with 

§ 1003.4(a)(28) by reporting that the requirement is not applicable since no property value was 

relied on in making the credit decision. 

Paragraph 4(a)(29) 

1. Classification under State law. A financial institution should report a covered loan that is or 

would have been secured only by a manufactured home but not the land on which it is sited as 

secured by a manufactured home and not land, even if the manufactured home is considered 

real property under applicable State law. 

2. Manufactured home community. A manufactured home community that is a multifamily 

dwelling is not considered a manufactured home for purposes of § 1003.4(a)(29). 

3. Multiple properties. See comment 4(a)(9)-2 regarding transactions involving multiple 

properties with more than one property taken as security. 

4. Scope of requirement. A financial institution reports that the requirement is not applicable for 

a covered loan where the dwelling related to the property identified in § 1003.4(a)(9) is not a 

manufactured home. For partially exempt transactions under § 1003.3(d), an insured depository 

institution or insured credit union is not required to report the information specified in 

§ 1003.4(a)(29). See § 1003.3(d) and related commentary. 

Paragraph 4(a)(30) 

1. Indirect land ownership. Indirect land ownership can occur when the applicant or borrower is 

or will be a member of a resident-owned community structured as a housing cooperative in 

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which the occupants own an entity that holds the underlying land of the manufactured home 

community. In such communities, the applicant or borrower may still have a lease and pay rent 

for the lot on which his or her manufactured home is or will be located, but the property interest 

type for such an arrangement should be reported as indirect ownership if the applicant is or will 

be a member of the cooperative that owns the underlying land of the manufactured home 

community. If an applicant resides or will reside in such a community but is not a member, the 

property interest type should be reported as a paid leasehold. 

2. Leasehold interest. A leasehold interest could be formalized in a lease with a defined term 

and specified rent payments, or could arise as a tenancy at will through permission of a land 

owner without any written, formal arrangement. For example, assume a borrower will locate the 

manufactured home in a manufactured home community, has a written lease for a lot in that 

park, and the lease specifies rent payments. In this example, a financial institution complies with 

§ 1003.4(a)(30) by reporting a paid leasehold. However, if instead the borrower will locate the 

manufactured home on land owned by a family member without a written lease and with no 

agreement as to rent payments, a financial institution complies with § 1003.4(a)(30) by reporting 

an unpaid leasehold. 

3. Multiple properties. See comment 4(a)(9)-2 regarding transactions involving multiple 

properties with more than one property taken as security. 

4. Manufactured home community. A manufactured home community that is a multifamily 

dwelling is not considered a manufactured home for purposes of § 1003.4(a)(30). 

5. Direct ownership. An applicant or borrower has a direct ownership interest in the land on 

which the dwelling is or is to be located when it has a more than possessory real property 

ownership interest in the land such as fee simple ownership. 

6. Scope of requirement. A financial institution reports that the requirement is not applicable for 

a covered loan where the dwelling related to the property identified in § 1003.4(a)(9) is not a 

manufactured home. For partially exempt transactions under § 1003.3(d), an insured depository 

institution or insured credit union is not required to report the information specified in 

§ 1003.4(a)(30). See § 1003.3(d) and related commentary. 

Paragraph 4(a)(31) 

1. Multiple properties. See comment 4(a)(9)-2 regarding transactions involving multiple 

properties with more than one property taken as security. 

2. Manufactured home community. For an application or covered loan secured by a 

manufactured home community, the financial institution should include in the number of 

individual dwelling units the total number of manufactured home sites that secure the loan and 

are available for occupancy, regardless of whether the sites are currently occupied or have 

manufactured homes currently attached. A financial institution may include in the number of 

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individual dwelling units other units such as recreational vehicle pads, manager apartments, 

rental apartments, site-built homes or other rentable space that are ancillary to the operation of 

the secured property if it considers such units under its underwriting guidelines or the guidelines 

of an investor, or if it tracks the number of such units for its own internal purposes. For a loan 

secured by a single manufactured home that is or will be located in a manufactured home 

community, the financial institution should report one individual dwelling unit. 

3. Condominium and cooperative projects. For a covered loan secured by a condominium or 

cooperative property, the financial institution reports the total number of individual dwelling units 

securing the covered loan or proposed to secure the covered loan in the case of an application. 

For example: 

i. Assume that a loan is secured by the entirety of a cooperative property. The financial 

institution would report the number of individual dwelling units in the cooperative property. 

ii. Assume that a covered loan is secured by 30 individual dwelling units in a condominium 

property that contains 100 individual dwelling units and that the loan is not exempt from 

Regulation C under § 1003.3(c)(3). The financial institution reports 30 individual dwelling 

units. 

4. Best information available. A financial institution may rely on the best information readily 

available to the financial institution at the time final action is taken and on the financial 

institution's own procedures in reporting the information required by § 1003.4(a)(31). Information 

readily available could include, for example, information provided by an applicant that the 

financial institution reasonably believes, information contained in a property valuation or 

inspection, or information obtained from public records. 

Paragraph 4(a)(32) 

1. Affordable housing income restrictions. For purposes of § 1003.4(a)(32), affordable housing 

income-restricted units are individual dwelling units that have restrictions based on the income 

level of occupants pursuant to restrictive covenants encumbering the property. Such income 

levels are frequently expressed as a percentage of area median income by household size as 

established by the U.S. Department of Housing and Urban Development or another agency 

responsible for implementing the applicable affordable housing program. Such restrictions are 

frequently part of compliance with programs that provide public funds, special tax treatment, or 

density bonuses to encourage development or preservation of affordable housing. Such 

restrictions are frequently evidenced by a use agreement, regulatory agreement, land use 

restriction agreement, housing assistance payments contract, or similar agreement. Rent control 

or rent stabilization laws, and the acceptance by the owner or manager of a multifamily dwelling 

of Housing Choice Vouchers (24 CFR part 982) or other similar forms of portable housing 

assistance that are tied to an occupant and not an individual dwelling unit, are not affordable 

housing income-restricted dwelling units for purposes of § 1003.4(a)(32). 

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2. Federal affordable housing sources. Examples of Federal programs and funding sources that 

may result in individual dwelling units that are reportable under § 1003.4(a)(32) include, but are 

not limited to: 

i. Affordable housing programs pursuant to Section 8 of the United States Housing Act of 

1937 (42 U.S.C. 1437f); 

ii. Public housing (42 U.S.C. 1437a(b)(6)); 

iii. The HOME Investment Partnerships program (24 CFR part 92); 

iv. The Community Development Block Grant program (24 CFR part 570); 

v. Multifamily tax subsidy project funding through tax-exempt bonds or tax credits (26 U.S.C. 

42; 26 U.S.C. 142(d)); 

vi. Project-based vouchers (24 CFR part 983); 

vii. Federal Home Loan Bank affordable housing program funding (12 CFR part 1291); and 

viii. Rural Housing Service multifamily housing loans and grants (7 CFR part 3560). 

3. State and local government affordable housing sources. Examples of State and local sources 

that may result in individual dwelling units that are reportable under § 1003.4(a)(32) include, but 

are not limited to: State or local administration of Federal funds or programs; State or local 

funding programs for affordable housing or rental assistance, including programs operated by 

independent public authorities; inclusionary zoning laws; and tax abatement or tax increment 

financing contingent on affordable housing requirements. 

4. Multiple properties. See comment 4(a)(9)-2 regarding transactions involving multiple 

properties with more than one property taken as security. 

5. Best information available. A financial institution may rely on the best information readily 

available to the financial institution at the time final action is taken and on the financial 

institution's own procedures in reporting the information required by § 1003.4(a)(32). Information 

readily available could include, for example, information provided by an applicant that the 

financial institution reasonably believes, information contained in a property valuation or 

inspection, or information obtained from public records. 

6. Scope of requirement. A financial institution reports that the requirement is not applicable if 

the property securing the covered loan or, in the case of an application, proposed to secure the 

covered loan is not a multifamily dwelling. For partially exempt transactions under § 1003.3(d), 

an insured depository institution or insured credit union is not required to report the information 

specified in § 1003.4(a)(32). See § 1003.3(d) and related commentary. 

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Paragraph 4(a)(33) 

1. Agents. If a financial institution is reporting actions taken by its agent consistent with 

comment 4(a)-4, the agent is not considered the financial institution for the purposes of 

§ 1003.4(a)(33). For example, assume that an applicant submitted an application to Financial 

Institution A, and Financial Institution A made the credit decision acting as Financial Institution 

B's agent under State law. A covered loan was originated and the obligation arising from a 

covered loan was initially payable to Financial Institution A. Financial Institution B purchased the 

loan. Financial Institution B reports the origination and not the purchase, and indicates that the 

application was not submitted directly to the financial institution and that the transaction was not 

initially payable to the financial institution. 

Paragraph 4(a)(33)(i) 

1. General. Except for partially exempt transactions under § 1003.3(d), § 1003.4(a)(33)(i) 

requires a financial institution to indicate whether the applicant or borrower submitted the 

application directly to the financial institution that is reporting the covered loan or application. 

The following scenarios demonstrate whether an application was submitted directly to the 

financial institution that is reporting the covered loan or application. 

i. The application was submitted directly to the financial institution if the mortgage loan 

originator identified pursuant to § 1003.4(a)(34) was an employee of the reporting financial 

institution when the originator performed the origination activities for the covered loan or 

application that is being reported. 

ii. The application was also submitted directly to the financial institution reporting the 

covered loan or application if the reporting financial institution directed the applicant to a 

third-party agent (e.g., a credit union service organization) that performed loan origination 

activities on behalf of the financial institution and did not assist the applicant with applying 

for covered loans with other institutions. 

iii. If an applicant contacted and completed an application with a broker or correspondent 

that forwarded the application to a financial institution for approval, an application was not 

submitted to the financial institution. 

Paragraph 4(a)(33)(ii) 

1. General. Except for partially exempt transactions under § 1003.3(d), § 1003.4(a)(33)(ii) 

requires financial institutions to report whether the obligation arising from a covered loan was or, 

in the case of an application, would have been initially payable to the institution. An obligation is 

initially payable to the institution if the obligation is initially payable either on the face of the note 

or contract to the financial institution that is reporting the covered loan or application. For 

example, if a financial institution reported an origination of a covered loan that it approved prior 

to closing, that closed in the name of a third-party, such as a correspondent lender, and that the 

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financial institution purchased after closing, the covered loan was not initially payable to the 

financial institution. 

2. Applications. A financial institution complies with § 1003.4(a)(33)(ii) by reporting that the 

requirement is not applicable if the institution had not determined whether the covered loan 

would have been initially payable to the institution reporting the application when the application 

was withdrawn, denied, or closed for incompleteness. 

Paragraph 4(a)(34) 

1. NMLSR ID. Except for partially exempt transactions under § 1003.3(d), § 1003.4(a)(34) 

requires a financial institution to report the Nationwide Mortgage Licensing System and Registry 

unique identifier (NMLSR ID) for the mortgage loan originator, as defined in Regulation G, 12 

CFR 1007.102, or Regulation H, 12 CFR 1008.23, as applicable. The NMLSR ID is a unique 

number or other identifier generally assigned to individuals registered or licensed through 

NMLSR to provide loan originating services. For more information, see the Secure and Fair 

Enforcement for Mortgage Licensing Act of 2008, title V of the Housing and Economic Recovery 

Act of 2008 (S.A.F.E. Act), 12 U.S.C. 5101 et seq., and its implementing regulations (12 CFR 

part 1007 and 12 CFR part 1008). 

2. Mortgage loan originator without NMLSR ID. An NMLSR ID for the mortgage loan originator is 

not required by § 1003.4(a)(34) to be reported by a financial institution if the mortgage loan 

originator is not required to obtain and has not been assigned an NMLSR ID. For example, 

certain individual mortgage loan originators may not be required to obtain an NMLSR ID for the 

particular transaction being reported by the financial institution, such as a commercial loan. 

However, some mortgage loan originators may have obtained an NMLSR ID even if they are not 

required to obtain one for that particular transaction. If a mortgage loan originator has been 

assigned an NMLSR ID, a financial institution complies with § 1003.4(a)(34) by reporting the 

mortgage loan originator's NMLSR ID regardless of whether the mortgage loan originator is 

required to obtain an NMLSR ID for the particular transaction being reported by the financial 

institution. In the event that the mortgage loan originator is not required to obtain and has not 

been assigned an NMLSR ID, a financial institution complies with § 1003.4(a)(34) by reporting 

that the requirement is not applicable. 

3. Multiple mortgage loan originators. If more than one individual associated with a covered loan 

or application meets the definition of a mortgage loan originator, as defined in Regulation G, 12 

CFR 1007.102, or Regulation H, 12 CFR 1008.23, a financial institution complies with 

§ 1003.4(a)(34) by reporting the NMLSR ID of the individual mortgage loan originator with 

primary responsibility for the transaction as of the date of action taken pursuant to 

§1003.4(a)(8)(ii). A financial institution that establishes and follows a reasonable, written policy 

for determining which individual mortgage loan originator has primary responsibility for the 

reported transaction as of the date of action taken complies with § 1003.4(a)(34). 

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4. Purchased loans. If a financial institution purchases a covered loan that satisfies the 

coverage criteria of Regulation Z, 12 CFR 1026.36(g), and that was originated prior to January 

10, 2014, the financial institution complies with § 1003.4(a)(34) by reporting that the requirement 

is not applicable. In addition, if a financial institution purchases a covered loan that does not 

satisfy the coverage criteria of Regulation Z, 12 CFR 1026.36(g), and that was originated prior 

to January 1, 2018, the financial institution complies with § 1003.4(a)(34) by reporting that the 

requirement is not applicable. Purchasers of both such types of covered loans may report the 

NMLSR ID. 

Paragraph 4(a)(35) 

1. Automated underwriting system data—general. Except for purchased covered loans and 

partial exempt transactions under § 1003.3(d), § 1003.4(a)(35) requires a financial institution to 

report the name of the automated underwriting system (AUS) used by the financial institution to 

evaluate the application and the result generated by that AUS. The following scenarios illustrate 

when a financial institution reports the name of the AUS used by the financial institution to 

evaluate the application and the result generated by that AUS. 

i. A financial institution that uses an AUS, as defined in § 1003.4(a)(35)(ii), to evaluate an 

application, must report the name of the AUS used by the financial institution to evaluate the 

application and the result generated by that system, regardless of whether the AUS was 

used in its underwriting process. For example, if a financial institution uses an AUS to 

evaluate an application prior to submitting the application through its underwriting process, 

the financial institution complies with § 1003.4(a)(35) by reporting the name of the AUS it 

used to evaluate the application and the result generated by that system. 

ii. A financial institution that uses an AUS, as defined in § 1003.4(a)(35)(ii), to evaluate an 

application, must report the name of the AUS it used to evaluate the application and the 

result generated by that system, regardless of whether the financial institution intends to 

hold the covered loan in its portfolio or sell the covered loan. For example, if a financial 

institution uses an AUS developed by a securitizer to evaluate an application and intends to 

sell the covered loan to that securitizer but ultimately does not sell the covered loan and 

instead holds the covered loan in its portfolio, the financial institution complies with 

§ 1003.4(a)(35) by reporting the name of the securitizer's AUS that the institution used to 

evaluate the application and the result generated by that system. Similarly, if a financial 

institution uses an AUS developed by a securitizer to evaluate an application to determine 

whether to originate the covered loan but does not intend to sell the covered loan to that 

securitizer and instead holds the covered loan in its portfolio, the financial institution 

complies with § 1003.4(a)(35) by reporting the name of the securitizer's AUS that the 

institution used to evaluate the application and the result generated by that system. 

iii. A financial institution that uses an AUS, as defined in § 1003.4(a)(35)(ii), that is 

developed by a securitizer to evaluate an application, must report the name of the AUS it 

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used to evaluate the application and the result generated by that system, regardless of 

whether the securitizer intends to hold the covered loan it purchased from the financial 

institution in its portfolio or securitize the covered loan. For example, if a financial institution 

uses an AUS developed by a securitizer to evaluate an application and the financial 

institution sells the covered loan to that securitizer but the securitizer holds the covered loan 

it purchased in its portfolio, the financial institution complies with § 1003.4(a)(35) by 

reporting the name of the securitizer's AUS that the institution used to evaluate the 

application and the result generated by that system. 

iv. A financial institution, which is also a securitizer, that uses its own AUS, as defined in 

§ 1003.4(a)(35)(ii), to evaluate an application, must report the name of the AUS it used to 

evaluate the application and the result generated by that system, regardless of whether the 

financial institution intends to hold the covered loan it originates in its portfolio, purchase the 

covered loan, or securitize the covered loan. For example, if a financial institution, which is 

also a securitizer, has developed its own AUS and uses that AUS to evaluate an application 

that it intends to originate and hold in its portfolio and not purchase or securitize the covered 

loan, the financial institution complies with § 1003.4(a)(35) by reporting the name of its AUS 

that it used to evaluate the application and the result generated by that system. 

2. Definition of automated underwriting system. A financial institution must report the information 

required by § 1003.4(a)(35)(i) if the financial institution uses an automated underwriting system 

(AUS), as defined in § 1003.4(a)(35)(ii), to evaluate an application. To be covered by the 

definition in § 1003.4(a)(35)(ii), a system must be an electronic tool that has been developed by 

a securitizer, Federal government insurer, or a Federal government guarantor of closed-end 

mortgage loans or open-end lines of credit. A person is a securitizer, Federal government 

insurer, or Federal government guarantor of closed-end mortgage loans or open-end lines of 

credit, respectively, if it has securitized, provided Federal government insurance, or provided a 

Federal government guarantee for a closed-end mortgage loan or open-end line of credit at any 

point in time. A person may be a securitizer, Federal government insurer, or Federal 

government guarantor of closed-end mortgage loans or open-end lines of credit, respectively, 

for purposes of § 1003.4(a)(35) even if it is not actively securitizing, insuring, or guaranteeing 

closed-end mortgage loans or open-end lines of credit at the time a financial institution uses the 

AUS to evaluate an application. Where the person that developed the electronic tool has never 

been a securitizer, Federal government insurer, or Federal government guarantor of closed-end 

mortgage loans or open-end lines of credit, respectively, at the time a financial institution uses 

the tool to evaluate an application, the financial institution complies with § 1003.4(a)(35) by 

reporting that the requirement is not applicable because an AUS was not used to evaluate the 

application. If a financial institution has developed its own proprietary system that it uses to 

evaluate an application and the financial institution is also a securitizer, then the financial 

institution complies with § 1003.4(a)(35) by reporting the name of that system and the result 

generated by that system. On the other hand, if a financial institution has developed its own 

proprietary system that it uses to evaluate an application and the financial institution is not a 

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securitizer, then the financial institution is not required by § 1003.4(a)(35) to report the use of 

that system and the result generated by that system. In addition, for an AUS to be covered by 

the definition in § 1003.4(a)(35)(ii), the system must provide a result regarding both the credit 

risk of the applicant and the eligibility of the covered loan to be originated, purchased, insured, 

or guaranteed by the securitizer, Federal government insurer, or Federal government guarantor 

that developed the system being used to evaluate the application. For example, if a system is 

an electronic tool that provides a determination of the eligibility of the covered loan to be 

originated, purchased, insured, or guaranteed by the securitizer, Federal government insurer, or 

Federal government guarantor that developed the system being used by a financial institution to 

evaluate the application, but the system does not also provide an assessment of the 

creditworthiness of the applicant—such as an evaluation of the applicant's income, debt, and 

credit history—then that system does not qualify as an AUS, as defined in § 1003.4(a)(35)(ii). A 

financial institution that uses a system that is not an AUS, as defined in § 1003.4(a)(35)(ii), to 

evaluate an application does not report the information required by § 1003.4(a)(35)(i). 

3. Reporting automated underwriting system data—multiple results. When a financial institution 

uses one or more automated underwriting systems (AUS) to evaluate the application and the 

system or systems generate two or more results, the financial institution complies with 

§ 1003.4(a)(35) by reporting, except for purchased covered loans, the name of the AUS used by 

the financial institution to evaluate the application and the result generated by that AUS as 

determined by the following principles. To determine what AUS (or AUSs) and result (or results) 

to report under § 1003.4(a)(35), a financial institution follows each of the principles that is 

applicable to the application in question, in the order in which they are set forth below. 

i. If a financial institution obtains two or more AUS results and the AUS generating one of 

those results corresponds to the loan type reported pursuant to § 1003.4(a)(2), the financial 

institution complies with § 1003.4(a)(35) by reporting that AUS name and result. For 

example, if a financial institution evaluates an application using the Federal Housing 

Administration's (FHA) Technology Open to Approved Lenders (TOTAL) Scorecard and 

subsequently evaluates the application with an AUS used to determine eligibility for a nonFHA loan, but ultimately originates an FHA loan, the financial institution complies with 

§ 1003.4(a)(35) by reporting TOTAL Scorecard and the result generated by that system. If a 

financial institution obtains two or more AUS results and more than one of those AUS results 

is generated by a system that corresponds to the loan type reported pursuant to 

§ 1003.4(a)(2), the financial institution identifies which AUS result should be reported by 

following the principle set forth below in comment 4(a)(35)-3.ii. 

ii. If a financial institution obtains two or more AUS results and the AUS generating one of 

those results corresponds to the purchaser, insurer, or guarantor, if any, the financial 

institution complies with § 1003.4(a)(35) by reporting that AUS name and result. For 

example, if a financial institution evaluates an application with the AUS of Securitizer A and 

subsequently evaluates the application with the AUS of Securitizer B, but the financial 

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institution ultimately originates a covered loan that it sells within the same calendar year to 

Securitizer A, the financial institution complies with § 1003.4(a)(35) by reporting the name of 

Securitizer A's AUS and the result generated by that system. If a financial institution obtains 

two or more AUS results and more than one of those AUS results is generated by a system 

that corresponds to the purchaser, insurer, or guarantor, if any, the financial institution 

identifies which AUS result should be reported by following the principle set forth below in 

comment 4(a)(35)-3.iii. 

iii. If a financial institution obtains two or more AUS results and none of the systems 

generating those results correspond to the purchaser, insurer, or guarantor, if any, or the 

financial institution is following this principle because more than one AUS result is generated 

by a system that corresponds to either the loan type or the purchaser, insurer, or guarantor, 

the financial institution complies with § 1003.4(a)(35) by reporting the AUS result generated 

closest in time to the credit decision and the name of the AUS that generated that result. For 

example, if a financial institution evaluates an application with the AUS of Securitizer A, 

subsequently again evaluates the application with Securitizer A's AUS, the financial 

institution complies with § 1003.4(a)(35) by reporting the name of Securitizer A's AUS and 

the second AUS result. Similarly, if a financial institution obtains a result from an AUS that 

requires the financial institution to underwrite the loan manually, but the financial institution 

subsequently processes the application through a different AUS that also generates a result, 

the financial institution complies with § 1003.4(a)(35) by reporting the name of the second 

AUS that it used to evaluate the application and the AUS result generated by that system. 

iv. If a financial institution obtains two or more AUS results at the same time and the 

principles in comment 4(a)(35)-3.i through .iii do not apply, the financial institution complies 

with § 1003.4(a)(35) by reporting the name of all of the AUSs used by the financial institution 

to evaluate the application and the results generated by each of those systems. For 

example, if a financial institution simultaneously evaluates an application with the AUS of 

Securitizer A and the AUS of Securitizer B, the financial institution complies with 

§1003.4(a)(35) by reporting the name of both Securitizer A's AUS and Securitizer B's AUS 

and the results generated by each of those systems. In any event, however, the financial 

institution does not report more than five AUSs and five results. If more than five AUSs and 

five results meet the criteria in this principle, the financial institution complies with 

§ 1003.4(a)(35) by choosing any five among them to report. 

4. Transactions for which an automated underwriting system was not used to evaluate the 

application. Section 1003.4(a)(35) does not require a financial institution to evaluate an 

application using an automated underwriting system (AUS), as defined in § 1003.4(a)(35)(ii). 

For example, if a financial institution only manually underwrites an application and does not use 

an AUS to evaluate the application, the financial institution complies with § 1003.4(a)(35) by 

reporting that the requirement is not applicable since an AUS was not used to evaluate the 

application. 

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5. Purchased covered loan. A financial institution complies with § 1003.4(a)(35) by reporting that 

the requirement is not applicable when the covered loan is a purchased covered loan. 

6. Non-natural person. When the applicant and co-applicant, if applicable, are not natural 

persons, a financial institution complies with § 1003.4(a)(35) by reporting that the requirement is 

not applicable. 

7. Determination of securitizer, Federal government insurer, or Federal government guarantor. 

Section 1003.4(a)(35)(ii) provides that an “automated underwriting system” means an electronic 

tool developed by a securitizer, Federal government insurer, or Federal government guarantor 

of closed-end mortgage loans or open-end lines of credit that provides a result regarding the 

credit risk of the applicant and whether the covered loan is eligible to be originated, purchased, 

insured, or guaranteed by that securitizer, Federal government insurer, or Federal government 

guarantor. A person is a securitizer, Federal government insurer, or Federal government 

guarantor of closed-end mortgage loans or open-end lines of credit, respectively, if it has ever 

securitized, insured, or guaranteed a closed-end mortgage loan or open-end line of credit. If a 

financial institution knows or reasonably believes that the system it is using to evaluate an 

application is an electronic tool that has been developed by a securitizer, Federal government 

insurer, or Federal government guarantor of closed-end mortgage loans or open-end lines of 

credit, then the financial institution complies with § 1003.4(a)(35) by reporting the name of that 

system and the result generated by that system. Knowledge or reasonable belief could, for 

example, be based on a sales agreement or other related documents, the financial institution's 

previous transactions or relationship with the developer of the electronic tool, or representations 

made by the developer of the electronic tool demonstrating that the developer of the electronic 

tool is a securitizer, Federal government insurer, or Federal government guarantor of closedend mortgage loans or open-end lines of credit. If a financial institution does not know or 

reasonably believe that the system it is using to evaluate an application is an electronic tool that 

has been developed by a securitizer, Federal government insurer, or Federal government 

guarantor of closed-end mortgage loans or open-end lines of credit, the financial institution 

complies with § 1003.4(a)(35) by reporting that the requirement is not applicable, provided that 

the financial institution maintains procedures reasonably adapted to determine whether the 

electronic tool it is using to evaluate an application meets the definition in § 1003.4(a)(35)(ii). 

Reasonably adapted procedures include attempting to determine with reasonable frequency, 

such as annually, whether the developer of the electronic tool is a securitizer, Federal 

government insurer, or Federal government guarantor of closed-end mortgage loans or openend lines of credit. For example: 

i. In the course of renewing an annual sales agreement the developer of the electronic tool 

represents to the financial institution that it has never been a securitizer, Federal 

government insurer, or Federal government guarantor of closed-end mortgage loans or 

open-end lines of credit. On this basis, the financial institution does not know or reasonably 

believe that the system it is using to evaluate an application is an electronic tool that has 

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been developed by a securitizer, Federal government insurer, or Federal government 

guarantor of closed-end mortgage loans or open-end lines of credit and complies with 

§ 1003.4(a)(35) by reporting that the requirement is not applicable. 

ii. Based on their previous transactions a financial institution is aware that the developer of 

the electronic tool it is using to evaluate an application has securitized a closed-end 

mortgage loan or open-end line of credit in the past. On this basis, the financial institution 

knows or reasonably believes that the developer of the electronic tool is a securitizer and 

complies with § 1003.4(a)(35) by reporting the name of that system and the result generated 

by that system. 

Paragraph 4(a)(37) 

1. Open-end line of credit. Except for partially exempt transactions under § 1003.3(d), 

§ 1003.4(a)(37) requires a financial institution to identify whether the covered loan or the 

application is for an open-end line of credit. See comments 2(o)-1 and -2 for a discussion of 

open-end line of credit and extension of credit. 

Paragraph 4(a)(38) 

1. Primary purpose. Except for partially exempt transactions under § 1003.3(d),§ 1003.4(a)(38) 

requires a financial institution to identify whether the covered loan is, or the application is for a 

covered loan that will be, made primarily for a business or commercial purpose. See comment 

3(c)(10)-2 for a discussion of how to determine the primary purpose of the transaction and the 

standard applicable to a financial institution's determination of the primary purpose of the 

transaction. See comments 3(c)(10)-3 and -4 for examples of excluded and reportable 

business- or commercial-purpose transactions. 

4(F) QUARTERLY RECORDING OF DATA 

1. General. Section 1003.4(f) requires a financial institution to record the data collected pursuant 

to § 1003.4 on a loan/application register within 30 calendar days after the end of the calendar 

quarter in which final action is taken. Section 1003.4(f) does not require a financial institution to 

record data on a single loan/application register on a quarterly basis. Rather, for purposes of 

§ 1003.4(f), a financial institution may record data on a single loan/application register or 

separately for different branches or different loan types (such as home purchase or home 

improvement loans, or loans on multifamily dwellings). 

2. Agency requirements. Certain State or Federal regulations may require a financial institution 

to record its data more frequently than is required under Regulation C. 

3. Form of quarterly records. A financial institution may maintain the records required by 

§ 1003.4(f) in electronic or any other format, provided the institution can make the information 

available to its regulatory agency in a timely manner upon request. 

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SECTION 1003.5—DISCLOSURE AND REPORTING 

5(A) REPORTING TO AGENCY 

1. Quarterly reporting—coverage. i. Section 1003.5(a)(1)(ii) requires that, within 60 calendar 

days after the end of each calendar quarter except the fourth quarter, a financial institution that 

reported for the preceding calendar year at least 60,000 covered loans and applications, 

combined, excluding purchased covered loans, must submit its loan/application register 

containing all data required to be recorded for that quarter pursuant to § 1003.4(f). For example, 

if for calendar year 2019 Financial Institution A reports 60,000 covered loans, excluding 

purchased covered loans, it must comply with § 1003.5(a)(1)(ii) in calendar year 2020. 

Similarly, if for calendar year 2019 Financial Institution A reports 20,000 applications and 40,000 

covered loans, combined, excluding purchased covered loans, it must comply with 

§ 1003.5(a)(1)(ii) in calendar year 2020. If for calendar year 2020 Financial Institution A reports 

fewer than 60,000 covered loans and applications, combined, excluding purchased covered 

loans, it is not required to comply with § 1003.5(a)(1)(ii) in calendar year 2021. 

ii. In the calendar year of a merger or acquisition, the surviving or newly formed financial 

institution is required to comply with § 1003.5(a)(1)(ii), effective the date of the merger or 

acquisition, if a combined total of at least 60,000 covered loans and applications, combined, 

excluding purchased covered loans, is reported for the preceding calendar year by or for the 

surviving or newly formed financial institution and each financial institution or branch office 

merged or acquired. For example, Financial Institution A and Financial Institution B merge to 

form Financial Institution C in 2020. Financial Institution A reports 40,000 covered loans and 

applications, combined, excluding purchased covered loans, for 2019. Financial Institution B 

reports 21,000 covered loans and applications, combined, excluding purchased covered loans, 

for 2019. Financial Institution C is required to comply with § 1003.5(a)(1)(ii) effective the date of 

the merger. Similarly, for example, Financial Institution A acquires a branch office of Financial 

Institution B in 2020. Financial Institution A reports 58,000 covered loans and applications, 

combined, excluding purchased covered loans, for 2019. Financial Institution B reports 3,000 

covered loans and applications, combined, excluding purchased covered loans, for 2019 for the 

branch office acquired by Financial Institution A. Financial Institution A is required to comply 

with § 1003.5(a)(1)(ii) in 2020 effective the date of the branch acquisition. 

iii. In the calendar year following a merger or acquisition, the surviving or newly formed financial 

institution is required to comply with § 1003.5(a)(1)(ii) if a combined total of at least 60,000 

covered loans and applications, combined, excluding purchased covered loans, is reported for 

the preceding calendar year by or for the surviving or newly formed financial institution and each 

financial institution or branch office merged or acquired. For example, Financial Institution A and 

Financial Institution B merge to form Financial Institution C in 2019. Financial Institution C 

reports 21,000 covered loans and applications, combined, excluding purchased covered loans, 

each for Financial Institution A, B, and C for 2019, for a combined total of 63,000 covered loans 

and applications reported, excluding purchased covered loans. Financial Institution C is required 

to comply with § 1003.5(a)(1)(ii) in 2020. Similarly, for example, Financial Institution A acquires 

a branch office of Financial Institution B in 2019. Financial Institution A reports 58,000 covered 

loans and applications, combined, excluding purchased covered loans, for 2019. Financial 

Institution A or B reports 3,000 covered loans and applications, combined, excluding purchased 

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covered loans, for 2019 for the branch office acquired by Financial Institution A. Financial 

Institution A is required to comply with § 1003.5(a)(1)(ii) in 2020. 

2. Change in appropriate Federal agency. If the appropriate Federal agency for a financial 

institution changes (as a consequence of a merger or a change in the institution’s charter, for 

example), the institution must identify its new appropriate Federal agency in its annual 

submission of data pursuant to § 1003.5(a)(1)(i) for the year of the change. For example, if an 

institution’s appropriate Federal agency changes in February 2018, it must identify its new 

appropriate Federal agency beginning with the annual submission of its 2018 data by March 1, 

2019 pursuant to § 1003.5(a)(1)(i). For an institution required to comply with § 1003.5(a)(1)(ii), 

the institution also must identify its new appropriate Federal agency in its quarterly submission 

of data pursuant to § 1003.5(a)(1)(ii) beginning with its submission for the quarter of the change, 

unless the change occurs during the fourth quarter. For example, if the appropriate Federal 

agency for an institution required to comply with § 1003.5(a)(1)(ii) changes during February 

2020, the institution must identify its new appropriate Federal agency beginning with its 

quarterly submission pursuant to § 1003.5(a)(1)(ii) for the first quarter of 2020. If the appropriate 

Federal agency for an institution required to comply with § 1003.5(a)(1)(ii) changes during 

December 2020, the institution must identify its new appropriate Federal agency beginning with 

the annual submission of its 2020 data by March 1, 2021 pursuant to § 1003.5(a)(1)(i). 

3. Subsidiaries. A financial institution is a subsidiary of a bank or savings association (for 

purposes of reporting HMDA data to the same agency as the parent) if the bank or savings 

association holds or controls an ownership interest in the institution that is greater than 50 

percent. 

4. Retention. A financial institution may satisfy the requirement under § 1003.5(a)(1)(i) that it 

retain a copy of its submitted annual loan/application register for three years by retaining a copy 

of the annual loan/application register in either electronic or paper form. 

5. Federal Taxpayer Identification Number. Section 1003.5(a)(3) requires a financial institution 

to provide its Federal Taxpayer Identification Number with its data submission. If a financial 

institution obtains a new Federal Taxpayer Identification Number, it should provide the new 

number in its subsequent data submission. For example, if two financial institutions that 

previously reported HMDA data under this part merge and the surviving institution retained its 

Legal Entity Identifier but obtained a new Federal Taxpayer Identification Number, then the 

surviving institution should report the new Federal Taxpayer Identification Number with its 

HMDA data submission. 

5(B) DISCLOSURE STATEMENT 

1. Business day. For purposes of § 1003.5(b), a business day is any calendar day other than a 

Saturday, Sunday, or legal public holiday. 

2. Format of notice. A financial institution may make the written notice required under 

§ 1003.5(b)(2) available in paper or electronic form. 

3. Notice—suggested text. A financial institution may use any text that meets the requirements 

of § 1003.5(b)(2). The following language is suggested but is not required: 

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Home Mortgage Disclosure Act Notice 

The HMDA data about our residential mortgage lending are available online for review. The 

data show geographic distribution of loans and applications; ethnicity, race, sex, age, and 

income of applicants and borrowers; and information about loan approvals and denials. 

These data are available online at the Consumer Financial Protection Bureau's Web site 

(www.consumerfinance.gov/hmda). HMDA data for many other financial institutions are also 

available at this Web site. 

4. Combined notice. A financial institution may use the same notice to satisfy the requirements 

of both § 1003.5(b)(2) and § 1003.5(c). 

5(C) MODIFIED LOAN/APPLICATION REGISTER 

1. Format of notice. A financial institution may make the written notice required under 

§ 1003.5(c)(1) available in paper or electronic form. 

2. Notice—suggested text. A financial institution may use any text that meets the requirements 

of § 1003.5(c)(1). The following language is suggested but is not required: 

Home Mortgage Disclosure Act Notice 

The HMDA data about our residential mortgage lending are available online for review. The 

data show geographic distribution of loans and applications; ethnicity, race, sex, age, and 

income of applicants and borrowers; and information about loan approvals and denials. 

These data are available online at the Consumer Financial Protection Bureau's Web site 

(www.consumerfinance.gov/hmda). HMDA data for many other financial institutions are also 

available at this Web site. 

3. Combined notice. A financial institution may use the same notice to satisfy the requirements 

of both § 1003.5(c) and § 1003.5(b)(2). 

5(E) POSTED NOTICE OF AVAILABILITY OF DATA 

1. Posted notice—suggested text. A financial institution may post any text that meets the 

requirements of § 1003.5(e). The Bureau or other appropriate Federal agency for a financial 

institution may provide a notice that the institution can post to inform the public of the availability 

of its HMDA data, or an institution may create its own notice. The following language is 

suggested but is not required: 

Home Mortgage Disclosure Act Notice 

The HMDA data about our residential mortgage lending are available online for review. The 

data show geographic distribution of loans and applications; ethnicity, race, sex, age, and 

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income of applicants and borrowers; and information about loan approvals and denials. 

HMDA data for many other financial institutions are also available online. For more 

information, visit the Consumer Financial Protection Bureau's Web site 

(www.consumerfinance.gov/hmda). 

SECTION 1003.6—ENFORCEMENT 

6(B) BONA FIDE ERRORS 

1. Bona fide error—information from third parties. Section 1003.6(b) provides that an error in 

compiling or recording data for a covered loan or application is not a violation of the Act or this 

part if the error was unintentional and occurred despite the maintenance of procedures 

reasonably adapted to avoid such an error. A financial institution that obtains the required data, 

such as property-location information, from third parties is responsible for ensuring that the 

information reported pursuant to § 1003.5 is correct. See comment 6(b)-2 concerning obtaining 

census tract information from a geocoding tool that the Bureau makes available on its Web site. 

2. Information from the Bureau. Section 1003.6(b)(2) provides that an incorrect entry for 

census tract number is deemed a bona fide error, and is not a violation of the Act or this part, 

provided that the financial institution maintains procedures reasonably adapted to avoid an 

error. Obtaining the census tract numbers for covered loans and applications from a geocoding 

tool available on the Bureau’s Web site that identifies the census tract of a property using 

property addresses entered by users is an example of a procedure reasonably adapted to avoid 

errors under § 1003.6(b)(2). Accordingly, a census tract error is not a violation of the Act or this 

part if the financial institution obtained the census tract number from the geocoding tool on the 

Bureau’s Web site. However, a financial institution’s failure to provide the correct census tract 

number for a covered loan or application on its loan/ application register, as required by § 

1003.4(a)(9)(ii)(C) or (e), because the geocoding tool on the Bureau’s Web site did not provide 

a census tract number for the property address entered by the financial institution is not 

excused as a bona fide error. In addition, a census tract error caused by a financial institution 

entering an inaccurate property address into the geocoding tool on the Bureau’s Web site is not 

excused as a bona fide error. 

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Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional 

Coverage Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

APPENDIX J: Federal Reporting Agencies 

Below is the location of information on submitting data, inquiring about technical 

aspects of data submission, and seeking guidance about compliance with HMDA, as 

implemented by Regulation C. Additionally, the addresses and telephone numbers for 

the Federal HMDA reporting agencies are included. 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Submission of Data 

The Federal HMDA reporting agencies agreed that, beginning on January 1, 2018, all 

HMDA filers will file their HMDA data with the CFPB. The CFPB will process the 

HMDA data for the Federal HMDA reporting agencies and the FFIEC, and prepare 

and make available data products to the general public on behalf of the FFIEC and 

the Federal HMDA reporting agencies. 

HMDA Filers will use the HMDA Platform, created by the CFPB, to upload their HMDA 

LARs, review edits, certify the accuracy and completeness of the data, and submit 

data. 

The HMDA Platform is available at: ffiec.cfpb.gov 

Questions about Compliance and Technical Questions about 

Submission 

All institutions may direct technical questions about automated submissions by filling 

out the HMDA Inquiry form at hmdahelp.consumerfinance.gov or e-mailing 

HMDAHELP@cfpb.gov. 

Institutions may also contact their Federal HMDA reporting agency using the contact 

information below. 

CFPB HMDA Guidance 

For all institutions with total assets of greater than $10 billion and their affiliates. 

CFPB HMDA Guidance can be found at: www.consumerfinance.gov/policycompliance/guidance/hmda-implementation/. 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct compliance questions to the CFPB: 

Consumer Financial Protection Bureau 

Attn: Office of Regulations 

1700 G Street NW 

Washington, DC 20552 

Or online at: 

reginquiries.consumerfinance.gov 

Office of the Comptroller of the Currency 

For any of the following that are not being handled by the CFPB: national banks and 

their subsidiaries and federal branches and federal agencies of foreign banks, and 

federal savings associations and their subsidiaries 

Direct compliance questions to the OCC: 

Office of the Comptroller of the Currency 

Constitution Center 

400 7th Street SW, Suite 3E-218 

Washington, DC 20219 

Federal Deposit Insurance Corporation 

For any of the following that are not being handled by the CFPB: nonmember insured 

banks (except for federal savings banks) and their subsidiaries, insured state 

branches of foreign banks that are supervised by the FDIC, and other depository 

institutions, state-chartered savings associations and their subsidiaries 

Direct compliance questions to the FDIC: 

Federal Deposit Insurance Corporation 

550 17th Street NW 

Washington, DC 20429 

Or email: SupervisoryPolicy@fdic.gov 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Department of Housing and Urban Development 

 

National Credit Union Administration 

For credit unions that are not being handled by the CFPB 

Direct HMDA questions to the NCUA: 

National Credit Union Administration 

1775 Duke Street 

Alexandria, VA 22314-3428 

703.518.1140 

Federal Reserve System 

For any of the following that are not being handled by the CFPB: state member banks 

of the Federal Reserve System, their subsidiaries, subsidiaries of bank holding 

companies, branches and agencies of foreign banks (other than federal branches, 

federal agencies, and insured state branches of foreign banks), commercial lending 

companies owned or controlled by foreign banks, and organizations operating under 

section 25 or 25A of the Federal Reserve Act, subsidiaries of savings and loan 

holding companies 

Direct compliance questions to: 

Federal Reserve System 

20th Street and Constitution Avenue NW 

Washington, DC 20551 

For other mortgage lending situations: 

U.S. Department of Housing and Urban Development 

451 7th Street SW 

Washington, DC 20410 

Telephone: (202) 708-1112 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix 

Intro 

A: Overview of Data 

Requirements Chart 

B: HMDA Small Entity 

Compliance Guide 

C: Instructions on 

Collection of Data on 

Ethnicity, Race, and Sex 

D: Institutional Coverage 

Chart 

E: Transactional 

Coverage Chart 

F: Partial Exemptions 

Charts 

G: Data Fields and Data 

Points Chart 

H: Regulation C 

I: Official Interpretations 

to Regulation C 

J: Federal HMDA 

Reporting Agencies 

K: HMDA Poster 

 

 

 

 

 

 

APPENDIX K: HMDA Poster 

The following is a copy of the HMDA poster wording suggested, but not required, in 

Comment 5(e)-1 of Regulation C. 

This Appendix is not a substitute for Regulation C. Regulation C and its official 

interpretations (also known as the commentary) are the definitive sources of 

information regarding its requirements. Regulation C and its official interpretations 

are available in Appendix H and I of this Guide and at ffiec.cfpb.gov. 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulation C requires a financial institution to post a general notice about the 

availability of HMDA data in the lobby of its home office and of each branch office 

physically located in each MSA and each MD. This notice must clearly convey that 

the institution's HMDA data are available on the CFPB's Web site at 

www.consumerfinance.gov/hmda. Note that HMDA data are also available at 

ffiec.cfpb.gov. 

Comment 5(e)-1 suggests, but does not require, the wording below. A financial 

institution may use an enlarged copy of the notice. 

HOME MORTGAGE
	 DISCLOSURE ACT 

NOTICE
	

The HMDA data about our residential mortgage lending 

are available online for review. The data show 

geographic distribution of loans and applications; 

ethnicity, race, sex, age, and income of applicants and 

borrowers; and information about loan approvals and 

denials. HMDA data for many other financial institutions 

are also available online. For more information, visit the 

Consumer Financial Protection Bureau's Web site 

(www.consumerfinance.gov/hmda).