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#2107094 - 11/12/16 12:59 AM FFIEC CRA Software - TBC?
TryingtoComply Offline
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Joined: Apr 2013
Posts: 2,296
The West
I know that they are discontinuing the HMDA reporting software in 2017, but does anyone know their plans for the CRA data entry software?
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#2107095 - 11/12/16 04:16 AM Re: FFIEC CRA Software - TBC? TryingtoComply
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Well, the CFPB does not own CRA, but I would not be surprised to see the CRA software modernized. But no word on that so not for 2017 I would venture to say.
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#2107106 - 11/12/16 09:21 PM Re: FFIEC CRA Software - TBC? TryingtoComply
TryingtoComply Offline
Diamond Poster
Joined: Apr 2013
Posts: 2,296
The West
I hope they leave it alone for a bit until we get up and running with our new vendor. smile
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#2107127 - 11/14/16 02:00 PM Re: FFIEC CRA Software - TBC? TryingtoComply
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
My guess is minimum two years - to let things settle down and for vendors to program. Possibly longer. We shall see!
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#2109910 - 12/07/16 03:40 AM Re: FFIEC CRA Software - TBC? TryingtoComply
Len S Offline
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Joined: Oct 2004
Posts: 2,137
Connecticut
Section 1071 of Dodd Frank raises a big question mark because it involves "small business loans" which are defined in a different way than CRA does. Supposedly the CFPB was going to issue an advanced notice of proposed rule making for 1071 this fall, but so far no sign of that. Because 1071 defines small business loans differently than CRA it is unclear how CRA itself may be affected, but it sure will be confusing if the differences are reconciled. The new definition is much more expansive than the CRA definition.
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