HMDA Edits

HMDA edits are rules to assist filers in checking the accuracy of HMDA data prior to submission. There are four types of edits:

Syntactical

Edits that check whether the loan/application register is in the correct format and whether the data covers the correct filing year. A syntactical edit occurs, for example, if none of the rows in the loan/application register begin with the number two (2) to indicate that the following data fields contain information relating to the reported loan or application. The loan/application register cannot be submitted until the filer corrects all syntactical edit errors and re-uploads the updated loan/application register to the HMDA Platform.

Validity

Edits that check whether there are valid values in each data field. The data cannot be submitted until errors identified by the validity edits are corrected. A validity edit occurs, for example, if the contact person’s telephone number does not follow the format “999-999-9999.” The loan/application register cannot be submitted until the filer corrects all validity edit errors and reuploads the updated loan/application register to the HMDA Platform.

Quality

Edits that check whether entries in the individual data fields or combinations of data fields conform to expected values. A quality edit occurs, for example, if the reported Tax Identification Number does not match the Tax Identification Number the institution reported on the previous year’s loan/application register. The loan/application register cannot be submitted until the filer either confirms the accuracy of all values flagged by quality edits in the HMDA Platform, or corrects the flagged values and reuploads the updated loan/application register to the HMDA Platform.


Macro Quality

Edits that check whether the submitted loan/application register as a whole conforms to expected values. A macro quality edit occurs, for example, if the reported percentage of multifamily loans exceeds 10% of the loan/application register entries. The loan/application cannot be submitted until the filer either confirms the accuracy of all the values flagged by the macro quality edits in the HMDA Platform or corrects the flagged values and reuploads the updated loan/application register to the HMDA platform.