CA 22-4: Revised A Guide to HMDA Reporting Getting It Right

EDITION EFFECTIVE JANUARY 1, 2022
(For HMDA Submissions due March 1, 2023)
A GUIDE TO
HMDA
Reporting
Getting It Right!
Federal Financial Institutions
Examination Council
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2022
Edition

2022
Edition
Last Edited:
February 28, 2022
A GUIDE TO HMDA Reporting: Getting It Right!
Edition effective January 1, 2022 (for HMDA submissions due March 1, 2023) This edition of the Guide is the comprehensive edition for the 2022 calendar year data (due March 1, 2023). 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.

Contents Foreword......................................................................................... I
Summary of Requirements .......................................................... 1
Institutional Coverage: Who Must Report? ............................................................. 1
Transactional Coverage: What Is Reported? .......................................................... 11
Compilation of Reportable Data: What Is Reported?............................................. 33
Recording, Reporting, and Disclosure: When is it Reported?.............................. 35
Appendices..................................................................................43
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 111-203, 124 Stat. 1376, 2097-2101 (2010). I | 2022 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. 2022 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 a 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 On April 16, 2020, the Bureau issued a 2020 HMDA Rule to adjust the thresholds for reporting data about closed-end mortgage loans, effective July 1, 2020, and the thresholds for reporting data about open-end lines of credit, effective January 1, 2022.8 6 83 FR 45325 (Sept. 7, 2018). 7 84 FR 57946 (Oct. 29, 2019). 8 85 FR 28364 (May 12, 2020). III | 2022 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. 9 9 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. 2022 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 | 2022 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT!

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 of this Guide. 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
Generally, this Guide will point you to the relevant resources that discuss:
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.
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
1 | 2022 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

INSTITUTIONAL 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:

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 2022, the preceding December 31 is December 31, 2021. Comment 2(g)-1.
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.
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 2022 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. A bank, savings association, or credit union that originated at least 100 closed-end mortgage loans in each of the two preceding calendar years, or originated at least 200 open-end lines of credit in each of the two preceding calendar years meets or exceeds the loan-volume threshold.10 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. 10 From January 1, 2018 through June 30, 2020, the threshold for closed-end mortgage loans was set at 25 closed-end mortgage loans in each of the two preceding calendar years. From January 1, 2018 through December 31, 2021, the threshold for open-end lines of credit was set at 500 open-end lines of credit in each of the two preceding calendar years. See Home Mortgage Disclosure (Regulation C), 85 FR 28364 (May 12, 2020). 3 | 2022 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

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, 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).11 For more information, see HMDA Small Entity Compliance Guide, Section 4.1.2 available in Appendix B of this Guide. 11 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. 2022 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:

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 2022, the preceding December 31 is December 31, 2021. 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?.
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. An institution that originated at least 100 closed-end mortgage loans in each of the two preceding calendar years, or originated at least 200 open-end lines of credit in each of the two preceding calendar years meets or exceeds the loan-volume threshold.12 12 From January 1, 2018 through June 30, 2020, the threshold for closed-end mortgage loans was set at 25 closed-end mortgage loans in each of the two preceding calendar years. From January 1, 2018 through December 31, 2021, the threshold for open-end lines of credit was set at 500 open-end lines of credit in each of the two preceding calendar years. See Home Mortgage Disclosure (Regulation C); 85 FR 28364 (May 12, 2020). 5 | 2022 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 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). 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. 2022 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

Regulation C also includes a separate test to ensure that financial institutions that meet only the 100 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).13 For more information, see the HMDA Small Entity Compliance Guide, Section 4.1.2 available in Appendix B of this Guide. 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 13 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. 7 | 2022 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

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:
2022 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

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.
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 9 | 2022 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

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 2022, it must identify its new appropriate Federal HMDA reporting agency beginning with the annual submission of its 2022 data by March 1, 2023. 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. 2022 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 10

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

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
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.
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 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 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 is not a 11 | 2022 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

IS IT A CLOSED-END MORTGAGE LOAN OR AN OPEN-END LINE OF
CREDIT?

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 the transaction. See REPORTABLE ACTIVITY, below, and Section 4.2 of the HMDA Small Entity Compliance Guide, available in Appendix B of this Guide. 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). 2022 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

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.
13 | 2022 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
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.

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.
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. 2022 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

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:

Principal residences;
Second homes and vacation homes;
Investment properties;
Residential structures attached to real property;
Detached residential structures;
Individual condominium and cooperative units;
Manufactured homes or other factory-built homes; and
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, 15 | 2022 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

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). Comment 2(n)-3. The following are not dwellings:

Recreational vehicles, such as boats, campers, travel trailers, or park model
recreational vehicles;
Houseboats, floating homes, or mobile homes constructed before June 15,
1976;
Transitory residences, such as hotels, hospitals, college dormitories, or
recreational vehicle parks; and
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 2022 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

IS IT AN EXCLUDED TRANSACTION?

allocated for each use. It may select the standard on a case-by-case basis. Comments 2(f)-4 and -5. 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. Except as noted below, effective January 1, 2018, the following are excluded transactions:

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).
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.
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 17 | 2022 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 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.

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.
The purchase solely of the right to service closed-end mortgage loans or openend lines of credit. 12 CFR 1003.3(c)(5).
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.
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).
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.
2022 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

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.
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 19 | 2022 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

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 100
closed-end mortgage loans in either of the two preceding calendar years.14 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 100 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 14 From January 1, 2018 through June 30, 2020, the applicable threshold was set at 25 closedend mortgage loans in each of the two preceding calendar years. During that time period, a financial institution was not required to collect, record, or report closed-end mortgage loans if it originated fewer than 25 closed-end mortgage loans in either of the two preceding calendar years. 2022 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 be covered loans for a given calendar year. 12 CFR 1003.3(c)(11); 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.15
12. An open-end line of credit if the financial institution originated fewer than 200
open-end lines of credit in either of the two preceding calendar years. 16 12 CFR 1003.3(c)(12). A financial institution is not required to collect, record, or report open-end lines of credit if it originated fewer than 200 open-end lines of credit in either of the two preceding calendar years. However, a financial institution may still be required to collect and report information regarding closed-end mortgage loans, depending on the number of closed-end mortgage loans it originated in the preceding two calendar years. Comment 3(c)(12)-1. 15 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). 16 From January 1, 2018 through December 31, 2021, the applicable threshold was 500 openend lines of credit in each of the two preceding calendar years. During that time period, a financial institution was not required to collect, record, or report open-end lines of credit if it originated fewer than 500 open-end lines of credit in either of the two preceding calendar years. 21 | 2022 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

For more information on how to determine if a financial institution “originated” a particular open-end 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 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 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. 2022 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

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 Entity Compliance Guide, available in Appendix B of this Guide. 23 | 2022 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

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:

For a home purchase loan;
Not secured by a multifamily dwelling;
Not for an open-end line of credit or for a reverse mortgage; and
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:
2022 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

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. 25 | 2022 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

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 2022 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

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. 27 | 2022 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

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

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. 2022 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

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.
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 29 | 2022 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

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 2022 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

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, 2020. In 2020, Ficus Bank originated 400 closed-end mortgage loans and 510 open-end lines of credit. In 2021, Ficus Bank originated 490 closed-end mortgage loans and 515 open- end lines of credit. In 2022, a partial exemption applies to Ficus 31 | 2022 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

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 2020 and 2021, Ficus Bank cannot exclude open-end lines of credit from its reportable transactions in 2022 (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. 2022 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 32

Where to Look: Regulation C’s reportable data criteria are found in 12 CFR 1003.4 and the associated commentary, available in

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.17 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 CFR1003.4(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.
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. 17 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.
33 | 2022 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT!

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. 18
18 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. 2022 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 34

Summary of
Requirements
Institutional
Coverage
Transactional
Coverage
Compilation of
Reportable Data

Where to Look: Regulation C’s Recording, Reporting, and Disclosure criteria are found within 12 CFR 1003.5 and the associated commentary, available in

Recording,
Reporting, and
Disclosure

Recording
Reporting
Disclosure of Data
Recording, Reporting, and Disclosure: When is it Reported?
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. 35 | 2022 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

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:

Its name;
The calendar year the data submission covers;
The name and contact information for a person who can be contacted with
questions about the submission;
The financial institution’s appropriate Federal HMDA reporting agency;
The total number of entries in the submission;
The financial institution’s TIN; and
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 2022, it must identify its new appropriate Federal HMDA reporting agency beginning with its annual submission of 2022 data by March 1, 2023. 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. 2022 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

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. 37 | 2022 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

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 2021 will determine whether the quarterly reporting requirement will apply to the financial institution in 2022. 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/. 2022 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

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 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. 39 | 2022 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

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 loanlevel 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)-

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. 2022 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

MODIFIED HMDA LAR19
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 19 On December 21, 2018, the CFPB issued final policy guidance describing modifications the CFPB intended to apply to the HMDA data, including modifications to protect consumers’ privacy, before the data were made available to the public beginning in 2019. The policy guidance is available at www.consumerfinance.gov/policy-compliance/rulemaking/finalrules/regulation-c-home-mortgage-disclosure-act/ 41 | 2022 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

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. 20 Comment 5(e)-1. 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). 20 HMDA data submitted by financial institutions are also available at ffiec.cfpb.gov. 2022 EDITION A GUIDE TO HMDA REPORTING: GETTING IT RIGHT! | 42

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.

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, as amended by the 2015 HMDA Rule, 2017 HMDA Rule, and the 2018 Act that was further implemented by the 2019 HMDA Rule. 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 2022 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 2022 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.

b d

a
Effective January 1, 2022
Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2022 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 HMDA Rules issued on October 15, 2015, on August 24, 2017, on October 10, 2019, and on April 16, 2020. a 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 2022 Filing Instructions Guide and provides when to report not applicable or exempt, including the codes used for reporting not applicable or exempt from section 4 of the 2022 Filing Instructions Guide for ease of reference. This chart does not provide data fields or enumerations used in preparing the HMDA loan/application register (LAR). For more information on preparing the HMDA LAR, please see http://ffiec.cfpb.gov. Data point Regulation C references Description Filing instructions Reporting “Not Applicable”c or “Exempt” (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. This is a compliance aid issued by the Consumer Financial Protection Bureau. The Bureau published a policy statement on compliance aids, available at consumerfinance.gov/rules-policy/final-rules/policy-statementcompliance-aids/, that explains the Bureau’s approach to compliance aids. 1 2022 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, JANUARY 27, 2022

Data point Regulation C references Description Filing instructionsb Reporting “Not Applicable”c or “Exempt”d

Effective January 1, 2022
(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 NULI: Identifier assigned to identify a loan or application ULI. Assign and report a ULI that:

Begins with the financial institution’s Legal Entity Identifier as defined
in § 1003.4(a)(1)(i)(A).
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
Must not include any information that could be used to directly
identify the applicant or borrower.

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:
10BX939c5543TQA1144M
LEI
999143X
Loan or
Application
Identifier
99
Check
Digit
NULI. If not reporting a ULI per the 2018 HMDA Rule, assign and report a NULI that:
2 2022 REPORTABLE HMDA DATA: A REGULATORY AND REPORTING OVERVIEW REFERENCE CHART – VERSION 1, JANUARY 27, 2022