Our partnership programme offers flexible, customisable solutions to meet you and your client bases LEI needs.
Find the help and support you need for your LEI from our highly trained support staff
If you are a mortgage originator in the United States, you are required to obtain a Legal Entity Identifier (LEI) for reporting purposes.
A Legal Entity Identifier is a 20 digit unique code that identifies your legal entity on the global LEI index.
Below, you can explore what the implications, and requirements are and then determine if you need to apply for one. Please feel free to contact our LEI support team who will be able to provide further information.
A Legal Entity Identifier (LEI) is a 20 digit code that is unique to a legal entity and provides basic information about the entity such as name, address and entity type e.g Limited Company. We explore this further in our recent post What is the Legal Entity Identifier?
LEIs are required by any legal entity that is involved with financial transactions or operating within today’s financial system. This applies in particular with regard the EU and the US. There are a number of mandates currently in existence which state “no LEI, no trade” meaning both reporting parties and traders require an LEI such as Mifid II. To see a comprehensive outline of the regulatory use of the LEI please see our recent post on the matter.
Mortgage lenders in the US also have rigorous reporting duties when it comes to the LEI. If you are struggling to match in house data with public LEI data please check out our LEI Data Management solutions here.
If you are a Mortgage Originator in the United States you should by now be familiar with the LEI requirement for HMDA reporting as you will be requested to provide it on the HDMA platform.
The LEI plays a key role in protecting consumers within the American mortgage market. Regulation C in the Consumer Financial Protection Bureau (CFPB) stipulates that the LEI is a requirement for reporting purposes.
The US is the largest consumer of the LEI, with nearly 14% of the worlds LEIs originating there. This is due to the large number of US regulations requesting the LEI for transaction reporting purposes such as the Dodd Frank Act.
HMDA data is a large source of publicly available information in the United States. This allows consumers to have visibility in the process ultimately protecting all parties involved.
The Home Mortgage Disclosure Act (HMDA) requires the financial institutions involved to maintain, report and control data regarding the information within mortgage transactions.
This data has multiple functions in society, including showing patterns around lending processes, highlighting trends in the industry and also protect against fraud or discrimination.
In this way HDMA is perfectly aligned with the LEI, whose goal is also to deliver transparency to the global financial system. It achieves this by providing an identifier for organisations that is reliable, trustworthy, from a valid source and easily accessible.
The LEI is now incorporated in to Regulation C because the financial institution involved must provide its LEI instead of the HDME RID when submitting HDMA data.
HDMA reporting will now rely on using a digital identification system to verify the identity of the loan originator.
This will benefit the users of HDMA data because the LEI record of the originator will include key data about that entity. This data includes confirmation of it existence, date of formation, legal address etc.
The LEI provides free access to a database of high quality and reliable data for HDMA data users.
The LEI can be embedded into the Universal Loan Identifier (ULI) to bring about new consumer protection capabilities through studying and interpreting the data it will provide. The ULI application process begins with providing your LEI. No LEI, no ULI.
✅ Fast issuance guaranteed
✅ Simple, online application form. No paper or signatures required
✅ 24/7 Customer support team
✅ Official GLEIF LEI Registration Agent
✅ Automatic LEI renewal system
✅ Guidance and support provided while maintaining your LEI record & data
✅ Hassle free HDMA compliance
1. Click on the ‘Register New LEI’ button here or visit the homepage of this website. To begin, fill out your contact details as the applicant. This information will be used to contact you in case any additional information is required.
1. Click on the ‘Register New LEI’ button here or visit the homepage of this website. To begin, fill out your contact details as the applicant. This information will be used to contact you in case any additional information is required.
2. Next, begin filling out the details of the entity which requires an LEI. This will include information such as the address, name of Director or person legally responsible for the institution such as CEO, or Owner.
To apply for your own LEI or on behalf of a legal entity, please select the option from the buttons below.
Number 9 Pembroke Street Upper, Dublin 2, D02 KR83
18 Finsbury Square Alphabeta, London EC2A 1AH
S No 203/1 PL 1/4A B12 APPT, NR UY Patil College Cinchwadgoan, Chinchwad Mulshi Pune, Pune 411033, Maharashtra, India
Official partner and registration agent to ubisecure rapidlei
Awards
Supported By
Payment
