What is Ffiec geocoding?
The FFIEC Geocoding/Mapping System (System) helps financial institutions meet their legal requirement to report information on mortgage, business, and farm loan applications. The System also provides Census demographic information about a particular census tract, including income, population, and housing data.
What is a geocode for HMDA?
Geocoding refers to the Metropolitan Statistical Area (MSA), State, County, Census Tract combination (address information) that must be provided for each reported loan. The system allows institutions to enter a street address, and it then determines the census tract.
What is MSA MD code?
MSA/MD. Description: Select this option to download datasets by the 5 digit derived MSA (metropolitan statistical area) or MD (metropolitan division) code. A MSA/MD is an area that has at least one urbanized area of 50,000 or more population.
What is LMI census tract?
The collective income group is often abbreviated “LMI” when describing both the individuals and areas together. The tract income level for each census tract is assigned based on the tract median income of the residents in that census tract. Census tracts can be considered upper, middle, moderate or low income.
What does Ffiec stand for?
Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC) was established on March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA), Public Law 95-630.
What is the difference between CBSA and MSA?
The difference between MSAs and micropolitan statistical areas is size: a CBSA must have a population of at least 50,000 in its largest urban area to qualify as an MSA; CBSAs that fail to meet this criterion are micropolitan statistical areas.
What does LMI mean?
A household is considered low- to moderate-income (LMI) if they make less than 80% of the area median income. The grantee or subrecipient is responsible for determining the area benefitted by a project. The GLO is available to help communities determine area benefit.
Is FFIEC a law?
About the FFIEC. The Federal Financial Institutions Examination Council (FFIEC) was established on March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA), Public Law 95-630.
Who needs to comply with FFIEC?
3. Who Needs to Comply with FFIEC Requirements??
- State-chartered banks that are members of the Federal Reserve System.
- Bank holding companies.
- Thrift holding companies.
- Foreign banking organizations that have a:
Is the FFIEC geocoding system based on the 2010 census?
Geocoding information for 2015 and 2016 is based on the 2010 Census. Geocoding information for 2017 is based on the 2015 Census. It is critical that you select the correct activity year when using the FFIEC Geocoding System. If you are geocoding for a year other than 2015, 2016, or 2017, the information may not be valid.
What do you need to know about the FFIEC?
The FFIEC Geocoding/Mapping System is a web-based tool designed to help financial institutions meet the legal requirement to report information on mortgage, business, and farm loans. Geocoding refers to the Metropolitan Statistical Area (MSA), State, County, Census Tract combination (address information)…
What kind of information can you get from geocoding?
The System also provides Census demographic information about a particular census tract, including income, population, and housing data. Please select the appropriate activity year for the address being geocoded.
How do you geocode a P.O.Box?
Include the correct city and state and/or zip code for the street address. The System does not geocode P.O. Boxes or Rural Routes. Once you have entered the address information in the appropriate boxes, click on the ‘Search’ button or hit the enter key to obtain the geocode information.
