BCFP Launches New HMDA Platform

The Bureau of Consumer Financial Protection (BCFP) has released a new beta version of the Home Mortgage Disclosure Act (HMDA) platform for data collected in 2018.

The beta portal allows financial institutions to establish test log-in credentials, upload sample files and validate the data, receive edit reports, confirm test data submissions and complete test filing processes. The Bureau will make adjustments to the platform during the test period.

In its release, the Bureau said financial institutions must have a legal entity identifier (LEI) that's recognized by the HMDA platform in order to create a new account or test data with an existing account.

All test data uploaded during the beta period will be removed from the system when the HMDA data filing period opens on January 1, 2019.