The Basics of FFIEC Geocoding

FFIEC geocoding

FFIEC geocodingWhat is FFIEC Geocode System?

Geocoding also refers to the word mapping. This is a unique system that offers services to the institutions related to the finance industry.

By this we mean that the institutions add the capably to fulfill their requirements and all the legal procedures and reports regarding the information about any kind of business or agricultural loan or mortgage purposes. It is done under the regulation preview of the government.

Any country, state, division, census or address information or metropolitan are designated as a geocode. All of these get their reports of each and every information about any kind of loans.

The entire system puts the financial institutions into an address that determines the following code. This is a tool that is web-based.

The various years of the FFIEC Geocode System

In 2014, management and budget office opened up about the improved Metropolitan Statistical Area during the month of February were very much appreciated that time for the data collection of HMDA. It was up to the month of January 1st, 2014.

In the year prior 2013, the office of the Management and the Budget took a keen role in releasing the information of the respective cities. It was actually a revised one. But the FFIEC data of census did not include that information. So it made no change to the HDMA collections of data during 2013.

Prior to that the U.S census bureau is playing a crucial role. Because this year the collection of the data showed many up gradation that the U.S census bureau had updated in the early months of the same year.

The demographic information was also improved. This was made by the ACS from the year 2006 to 2010 with the census information of 2010.

The requirements for address search for the FFIEC Geocode System

The FFIEC geocoding system needs one to have an address that includes the name of any state or any city or any pin code. There is no need of the full address and one must keep a comma between them.

This will help one to get an accurate result. If the address delivered there gets identified by the system then it will be shown in the “matched address” bar located in the left part. One should be very careful about the address he or she has given.

There is no need to give the building or house number. After putting up all the information in the right boxes, pressing enter or clicking on the search button can give the results.

Important rules to be remembered

Here only the HMDA data information which was taken in the years of 2013, 2014, 2015 are available. So, if one is asking for a data a year after may get the wrong results. Whenever any new country or state formats, then the codes associated with them changes.

But the census information and respective codes are being changed in every ten years during the formation of a new census. So, the actual code is very important.

This system is very much scientific to keep all the records and has proven to be useful to the citizens very much.