What is Ffiec geocode?
What is Ffiec geocode?
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. The system allows institutions to enter a street address, and it then determines the census tract.
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 does MSA MD code mean?
Metropolitan Statistical Area/Metropolitan Division
Beginning with 2004, Metropolitan Area was changed to a 5-digit Metropolitan Statistical Area/Metropolitan Division (MSA/MD) number. It is primarily intended to assist financial institutions covered by the Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) to meet their reporting obligation.
What are the census tract income levels?
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| Tract Code | Tract Income Level | 2015 Est. Tract Median Family Income |
|---|---|---|
| 0001.00 | Upper | $153,331 |
| 0002.00 | Moderate | $54,345 |
| 0004.00 | Middle | $70,124 |
| 0006.00 | Moderate | $45,974 |
What does the FFIEC geocoding system stand for?
The FFIEC Geocoding/Mapping System (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 (MSA/MD), State, County,
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)…
How does a geocoding system work for a bank?
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. When an address is not found,…
Where can I get help with geocoding data?
If the mapping feature does not provide the desired results, refer to A Guide to HMDA Reporting: Getting It Right!for other resources that may assist you with geocoding your data. See Help on Geocodefor more details. Selected Tract MSA/MD Code State Code County Code Tract Code MSA/MD Name