Collect and, more importantly, validate the information required for HMDA submission.
Is your HMDA data complete and accurate? The complexity of the mortgage process
and the multitude of parties involved does create mortgage loan file data integrity
issues. Don’t let them show up in your HMDA reporting! LoanLogics Intelligent Data
Extraction and Automation (IDEA™) provides a 360-degree view of loan file data
and the LoanHD® HMDA Audit Tool gives your HMDA audits speed, scalability
Gain peace of mind that the data you report to regulators is consistently complete
Mortgage Compliance Resources
Home Mortgage Disclosure Act
The following resources can be used by your staff as valuable reference and guidance
for HMDA compliance.
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CFPB HMDA related information and guidance
Uniform Residential Loan Application
Our tool includes guidelines for completing the new Fannie/Freddie URLA, along with
embedded references that correspond to the Sections of the URLA.
URLA related resources
LoanLogics HMDA Audit technology incorporates Intelligent Data Extraction and Automation (IDEA™) to provide a 360-degree view of loan file data. Data extraction enables validation and reporting on all 2017 and 2018 HMDA data fields, such as borrower age and ethnicity, as well as loan and fee information. A proprietary rules engine, supported by LoanLogics professionals with deep compliance expertise, automates greater than 90% of the tests related to a HMDA audit.
The LoanHD® HMDA Audit Tool is a single-page Worksheet that enables your staff to perform an accurate, consistent HMDA review on every loan application in the system. Automated tests and those requiring manual intervention are displayed so that users can focus on findings related to eligibility defects and review tests that did not pass automated validation.
Using IDEA™ and LoanHD® technology, all HMDA data can be verified and validated before the creation and submission of your Loan Activity Report (LAR) to the Consumer Financial Protection Bureau’s (CFPB) online tool. The accuracy of your data is for the benefit of the industry, but also provides you valuable information for your own analysis and business process improvements.Product Introduction