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| TO: |
CHIEF EXECUTIVE OFFICER AND COMPLIANCE OFFICER |
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HMDA Data Reporting for Calendar Year 1997
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As previously announced, some rules and reporting requirements for the 1997 Home Mortgage Disclosure Act (HMDA) data have changed. Since there are only three significant changes, you may rely on the 1996 Guide to HMDA Reporting, supplemented by the attached November 19, 1997, letter from the Federal Financial Institutions Examination Council (FFIEC), for guidance on collecting and reporting the 1997 data.
Getting Help
The FDIC has again contracted with the Federal Reserve Board in Washington, D.C., to collect and process CY1997 HMDA data from FDIC-supervised institutions. The Federal Reserve Board will also assist you with questions about completing your HMDA report or collecting reports from prior years.
The Federal Reserve Board's HMDA Assistance Line is (202) 452-2016. You may leave a taped message and your call will be returned within two business days. Questions may also be sent via the Internet to HMDA HELP@FRB.GOV or you may call your regional office of the FDIC's Division of Compliance and Consumer Affairs for assistance (see attached regional office listing).
Submitting Data
The FFIEC HMDA software exports data on 3.5" diskettes. CY 1997 data cannot be accepted on 5.25" diskettes. The institution should make a copy of each diskette and submit the original to the Federal Reserve Board in Washington, D.C., by March 2, 1998. The diskettes should be labeled as follows.
Respondent ID number/agency code Contact name and phone number
Institution's Name Number of total LAR records being submitted
Tax ID Number Number of each diskette with set (i.e., 1, 1 of 2, etc.)
HMDA reports should be mailed to:
Federal Reserve Board
Attention: FDIC HMDA Processing
1709 New York Avenue, NW, 5th Floor
Washington, DC 20006
Internet Transmission
If you choose to submit your report electronically, the address is HMDASUB@FRB.GOV. A signed copy of the Transmittal Sheet should be retained in your records for review by examiners. You will receive confirmation of receipt of your electronically transmitted records within 48 hours. Retain the confirmation until your disclosure statement is received and its accuracy is confirmed.
Failure to report HMDA data accurately by March 2, 1998, may subject your institution to civil money penalties and/or other administrative sanctions prescribed in Section 305 of the statute.
Thank you for your cooperation.
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Carmen J. Sullivan |
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Director |
Attachments: FFIEC letter of Nov. 19. 1997;
FDIC Region Offices Directory (DCA)
Distribution: Insured Commercial Banks and FDIC-Supervised Savings Banks
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or 800-276-6003).
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