Question

Currently, lars are due annually on ______, but beginning in january 2020, financial institutions that reported a total of at least 60,000 loans and applications for the preceding calendar year must begin submitting their lars_______.

Answer 1

For the first blank the answer is January 1st. For the second blank, HMDA Rule necessitates quarterly reporting for covered institutions. Furthermore to their annual data submission, these larger-volume reporters will surrender HMDA data for the first three quarters of the year on a three-monthly basis. The first quarterly compliance will be due by May 30, 2020.