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FFIEC Releases New HMDA and CRA Geocoding System
Tuesday, December 2, 2014 6:40 AM

The Federal Financial Institutions Examination Council released a new HMDA and CRA Geocoding System to provide enhanced mapping features and more precise geocodes. FFIEC's geocoding/mapping system helps financial institutions meet their legal requirement to report information on mortgage, business, and farm loan applications.

Geocoding refers to the metropolitan statistical area/metropolitan division, state, county, census tract combination (address information) that must be provided for each reported loan application. The system allows institutions to enter a street address to determine the corresponding geocode, and it also provides census demographic information about a particular census tract, including income, population, and housing data.