HMDA Submission of 2008 HMDA Data

09-RA-03 / February 2009
HMDA Submission of 2008 HMDA Data
Federally-Insured Credit Unions
Federally-Insured Credit Unions
HMDA Submission of 2008 HMDA Data

Dear Board of Directors:

Credit unions located in metropolitan areas that engage in certain types of residential mortgage lending and have assets exceeding the Federal Reserve Board’s (FRB) published threshold must comply with Regulation C. Regulation C implements the Home Mortgage Disclosure Act. Credit unions subject to HMDA requirements for 2008 activity must submit loan/application register (LAR) data to the FRB by March 2, 2009.

The purpose of this regulatory alert is to:

  •  Remind you of the filing deadline for 2008 HMDA data; and
  •  Inform you of NCUA’s policy concerning the late submission of required HMDA data.

Filing Deadline for 2008 HMDA Data

Credit unions subject to HMDA requirements for 2008 activity must submit LAR data to the FRB processing center by March 2, 2009. This requirement remains in place even for credit unions that do not have to accumulate HMDA data for applications processed during 2009.1 This site also provides access to free software to assist you with the filing process.

Credit unions with 25 or fewer entries on their LAR may report and submit the data in paper form. However, all credit unions that have more than 25 entries on the LAR must submit their reports in an automated, machine-readable, form.

The Internet site provides an overview of all acceptable LAR submission methods. The FRB prefers receiving automated LAR data by email at the address: Transmissions by methods other than email may be delayed due to FRB security protocols.

The HMDA Data Entry Software is available for free at the FFIEC Internet site The software automates the filing of your HMDA data and includes editing features to help you verify and analyze the accuracy of the data. The data file created, using this software, can be submitted to your regulatory agency using “Submission via Web”,2 encrypted for submission via Internet email, or exported onto a diskette/CD-ROM for mailing.

To ensure data can be successfully read by the FRB by email, you should use the edit check feature of the HMDA data entry software prior to encrypting and submitting your transmission file.

Data is considered to be successfully received by the FRB once the FRB has loaded your data onto its mainframe computer. When the FRB has successfully loaded your data, it will confirm receipt of the file by faxing or emailing an edit report that lists potential data errors. You should retain a dated copy of the edit report with your credit union’s records. The following general time frames apply:

  • If you sent your submission using the “Submission via Web” or Internet email option, you should receive an edit report by fax within a week of transmitting your report.
  • If you sent your submission via diskette or CD-ROM, you should receive an edit report via fax within two weeks of mailing your report.

Credit unions submitting their data by email will receive an email message from the FRB that confirms receipt of the submission. It is important to not confuse the confirmation that the FRB has received your submission with the edit report that documents the FRB has successfully loaded your data onto its mainframe computer. The FRB only considers your data as being received when it issues the edit report.

If your credit union does not receive an edit report from the FRB, it is your responsibility to follow up with the FRB. In the recent past, several credit unions did not either a) contact the FRB when not receiving a confirmation of receipt; or b) follow up when not receiving a list of potential data errors after initially receiving a confirmation of receipt. As a result, the credit unions were not aware that their LAR data was not successfully loaded onto the FRB’s mainframe computer until appearing on a delinquent filer list.

NCUA Policy Concerning Delinquent Filings

NCUA anticipates every credit union that is required to report 2008 HMDA data will provide a readable transmission file to the FRB by the March 2, 2009 deadline. Following March 2, the FRB will provide a list of delinquent filers to NCUA. Credit unions appearing on this list could become subject to civil money penalty assessments.

Other Resources

The FFIEC maintains an Internet site ( that is devoted to providing financial institutions with assistance in complying with HMDA requirements. This site also provides access to a comprehensive guide entitled A Guide to HMDA Reporting – Getting it Right! that provides information about the history of HMDA, data reporting requirements, LAR completion guidelines, geocoding tools, and disclosure requirements.

Questions concerning HMDA software, data receipt confirmations, data edits, and other issues related to the submission of HMDA data can be sent to the FRB by email at or you may contact the HMDA Assistance Line (202-452-2016).

Should you have questions about completing the LAR, please contact your regional office or state supervisory authority.



Michael E. Fryzel


1 Examples of events causing a credit union previously required to submit HMDA data to become exempt include relocation from a metropolitan area or a decrease in total assets below the minimum threshold.

 2 “Submission via Web” is the new secure option for transmitting your HMDA data. “Submission via Web” transmits your data to your regulatory agency in ONE step, rather than encrypting your submission file, attaching the encrypted file to an email and submitting the email via Internet. “Submission via Web” requires an Internet connection.



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