Submission Correction Policy Change

Just saw this on the FFIEC.GOV page. DATA COLLECTION PROCEDURE CHANGE Effective January 1, 2006, for 2005 HMDA data collection, a complete resubmission is required for ALL CHANGES to the loan application register following an institution’s initial HMDA submission. Manual changes will no longer be accepted via e-mail, fax or telephone. All corrections or updates to the loan application register following the initial submission are to be completed by the institution. The institution must then RESUBMIT an entirely new file inclusive of all loans for the applicable reporting year. EXCEPTIONS: (1) 2005 HMDA submission is greater than 350,000 LARs. Less than 10 field corrections should be written on the edit report and faxed to 202-452-6497. Corrections exceeding 10 require resubmission. This exception is only applicable to institution’s who have submitted greater than 350,000 LAR. (2) 2005 HMDA submission contains 25 or fewer entries and is submitted in paper form. Less than 10 field corrections should be written on the edit report and faxed to 202-452-6497. This exception is only applicable for institution’s who submitted an initial paper copy LAR with 25 or fewer entries.