The Federal Housing Administration published FHA Info #2021-02 to announce that FHA Connection will be updated to capture expanded borrower demographic information that aligns with Home Mortgage Disclosure Act (HMDA) regulations.
The expanded demographic information that will be collected in FHAC includes ethnicity, race, and sex, and complies with the revised Regulation C of HMDA. This additional information also aligns with the options provided on the redesigned Uniform Residential Loan Application (URLA/Fannie Mae Form 1003) as well as the Demographic Information Addendum to the existing URLA for forward mortgages, and the Residential Loan Application for Reverse Mortgages (Fannie Mae Form 1009).
The changes in FHAC will be effective and available on March 1, 2021. Demographic data previously entered under fields which are replicated in the revised FHAC screens will rollover. The Ethnicity, Race, and Sex fields will be optional selections and users may select all boxes that apply