Home Mortgage Disclosure Act (HMDA)/Reg C

Frequently Asked Questions

Disclaimer: These questions and answers are provided based on those received during webinars provided by the Ellie Mae Compliance Department, and those submitted to Ellie Mae directly by you. This content is intended for general information purposes with the goal of assisting Ellie Mae’s customers and non-customers, in complying with the future provisions under Regulation C (HMDA). This information is provided as a courtesy to Ellie Mae’s customers and Ellie Mae makes no representation or warranty regarding the accuracy of the information set forth herein, and you may not rely on this information to ensure your company’s compliance with Regulation C (HMDA). This publication should not be construed as legal advice or opinion on any specific facts or circumstances, including the application of the HMDA regulations. You are advised to consult your own compliance staff or attorney regarding your specific residential mortgage lending questions or situation to ensure your compliance with all applicable laws and regulations.

If a commercial loan officer originates the loan, is there a "not applicable" option for the NMLSR ID field?

Revised September 30, 2016

Yes, an option for indicating "not applicable" is provided. However, if a commercial loan originator is originating a covered loan under Regulation C, it would be prudent to ensure the loan originator is not required to be licensed or registered with the NMLSR for the particular transaction being reported. Commentary under Regulation C regarding this issue is cited below in the citations provided, and is summarized as follows:

An NMLSR ID for the mortgage loan originator is not required to be reported if the mortgage loan originator is not required to be obtained and therefore not assigned. For example, certain individual mortgage loan originators may not be required to obtain an NMLSR ID for the particular transaction being reported by the financial institution, such as a commercial loan. However, some mortgage loan originators may have obtained an NMLSR ID even if they are not required to obtain one for that particular transaction. If a mortgage loan originator has been assigned an NMLSR ID, a financial institution complies by reporting the mortgage loan originator's NMLSR ID regardless of whether the mortgage loan originator is required to obtain an NMLSR ID for the particular transaction being reported by the financial institution. In the event that the mortgage loan originator is not required to obtain and has not been assigned an NMLSR ID, a financial institution complies by reporting that the requirement is not applicable.

You should also refer to the SAFE Act (Regulations G & H), state licensing laws and your legal/compliance professionals for the determination of any required licensing applicable to the specific transactions reportable under HMDA.

Citation(s):Commentary ¶4(a)(34)-2; 12 CFR 1007.102 (Regulation G); 12 CFR 1008.23 (Regulation H); 12 USC 5101 (SAFE Act); State Law