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Inactive Financial Institution Letters
January 10, 1996
EXECUTIVE OFFICER AND COMPLIANCE OFFICER
Data Required for Calendar Year 1996
Home Mortgage Disclosure Act (HMDA), implemented by the Federal Reserve
Board's Regulation C, requires certain institutions to submit annual
reports of their mortgage-related lending activity. Your report of
loans and applications for home purchases, home improvements and refinancings
for calendar year 1996 (CY96) must be submitted between January 1,
1997, and March 1, 1997.
The enclosed materials include a User Guide detailing instructions for the collection and submission of CY96 HMDA data. These instructions apply to submissions in all formats. Also provided by the FDIC at no cost is the Federal Financial Institutions Examination Council's (FFIEC) CY96 HMDA data entry software. Data submission formats other than the FFIEC software can include: a typed loan application register (LAR) form, if 25 or fewer records are submitted (using the FFIEC's FORM FR HMDA-LAR); magnetic tape; data from a mainframe program; or another software product. If you do not use the FFIEC software, please give special attention to instructions in the enclosed 1996 HMDA User Guide Supplement.
Failure to report HMDA data accurately by March 1, 1997, may subject your institution to civil money penalties and/or other administrative sanctions prescribed in Section 305 of the statute. Inaccuracies can be minimized by using the FFIEC software, as it contains editing features that will identify certain inaccurate entries.
Requlation C requires institutions to include on the transmittal sheet a total count of loans and application records for each CY96 data submission. This count will be computed automatically by the FFIEC software and included on the transmittal sheet each time an institution exports data from the FFIEC software for submission. If you do not use the FFIEC software, you must include a total count of loan records for each submission on your electronic transmittal sheet or on a paper copy of each transmittal sheet.
The enclosed software contains Metropolitan Statistical Area (MSA) designations that must be used in CY96 reports. It includes changes that are described in the attached 1996 HMDA User Guide Supplement.
Enclosed in the User Guide is a postcard for requesting the FFIEC software on 5.25" floppy disks, if you are unable to use the enclosed 3.5" diskette. The floppy disks will be provided at no charge.
The FDIC has again contracted with the Federal Reserve Board in Washington to collect and process CY96 HMDA data from FDIC-supervised institutions. The Federal Reserve Board also will provide assistance if you have 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. Your Regional Office of the FDIC's Division of Compliance and Consumer Affairs also can assist with questions.
The address to which your CY95 and CY96 HMDA reports should be submitted is:
Attn: FDIC HMDA Processing
REMINDER: Your CY95 report is due by March 1, 1996.
Distribution: Selected HMDA Institutions and others on FDIC Mailing List
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