Main Takeaway
The borrower’s portal now includes a new HMDA Disclosure section, empowering borrowers to enter their disclosure information independently. Lenders can configure how updates are processed: via borrower-generated requests or direct edits to the borrower’s profile.
Overview
The addition of the HMDA Disclosure section to the borrower’s portal simplifies data collection by allowing borrowers to submit their information. Lenders have flexibility in how this information is processed.
In collecting this information, we adhere to categories set by regulatory requirements under the U.S. government’s HMDA (Home Mortgage Disclosure Act). While these categories may not fully capture everyone’s identity or experience, we are committed to conducting this process respectfully and in compliance with these standards. We appreciate your understanding.
For information on HMDA report generation and new fields please review Home Mortgage Disclosure Act (HMDA) Fields
HMDA Borrower's Portal Fields
The borrower's portal now includes a HMDA Disclosure section allowing the borrower to enter the information for themselves.
There are two options for the borrower to enter information into the portal.
Request for update: Generates an email with selected information. This process is complete when the lender reviews the submission and manually enters the information into the borrower's profile.
Borrower editable: When enabled, the borrower is able to update their profile directly.
This change can be made in the Setting page, under Client Portal Setup. Under Functions & Notifications Settings, My Account.
The email address to receive this information is set in the Settings, Borrower Portal, this will open the Client Portal Setup, under Communications Settings, From Email Address.
HMDA Disclosure Fields
Ethnicity |
Options for self-identification under the Home Mortgage Disclosure Act (HMDA) also include "Hispanic or Latino" and "Not Hispanic or Latino," with additional subcategories for more detailed demographic data.
Options in these fields are multi-select.
We have also provided areas to allow for more detailed responses. Select ‘Enter your specific Hispanic or Latino Identity.’ This will open an additional field in the main HMDA Disclosure section, where you can provide further details. |
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Race |
A variety of categories have been added that reflect the borrowers racial and ethnic identities. The flexibility to choose multiple categories enables a more precise representation of the borrower's identity.
Options in these fields are multi-select.
Areas have been added to allow for more detail. Selecting Principal Tribe, Asian Identity, and Pacific Islander will open more fields on in the main HMDA disclosure area. |
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Ethnicity |
Besides the options of male and female, further options are provided for those that wish not to disclose.Options in these fields are multi-select |
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Need Further Assistance?
If you require additional help or have questions about these reports, please get in touch with our support team:
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