How often is HMDA data required to be reported?

HMDA, or the Home Mortgage Disclosure Act, requires institutions to report data annually. This annual reporting provides essential information about mortgage lending practices, including the characteristics of borrowers and the geographic distribution of loans. The collected data helps to ensure transparency in the mortgage industry and allows for the analysis of lending patterns, potentially identifying discriminatory practices.

Understanding the reporting frequency is essential for mortgage loan originators, as they must ensure compliance with HMDA requirements and contribute to accurate and timely data submissions. Annual reporting aligns with the intent of the HMDA, which aims to monitor lending patterns over a consistent timeframe, rather than shorter durations that could misrepresent trends.