FHA Connection Updated to Collect Expanded HMDA Data

FHA Connection Updated to Collect Expanded HMDA Data

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

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Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.