In this webinar, we’ll review in detail all the pain points of the numerous HMDA data fields, including the always-challenging action taken, application date, and many other data points. We’ll also go over many of the requirements to ensure you’re reporting everything that you should be. We’ll review the differences between prequalifications and preapprovals, as well as conditional approvals. We’ll also address a number of other questions: What will examiners be looking for? What are the fair lending issues and risks you need to be aware of after submission? We’ll discuss the current state of HMDA so close to submission in this session, and get your questions answered, as well as provide many useful resources.
What You’ll Learn
- Reporting thresholds, including impact to small reporters through exceptions – what can you avoid reporting if you qualify?
- Detailed coverage rules – who collects and submits information, and when, including the partial exemption for certain banks
- What types of loans (and lines of credit) are reportable, including differences between consumer and commercial loans and lines of credit
- The dwelling-secured loan standard – what does this impact? What is a “dwelling”?
- Clarifications and definitions, including exceptions – knowing what not to report
- Handling HELOCs
- Dealing with conditional approvals – when to report and when to not report
- Detailed analysis of LAR fields, including details on data requirements, with emphasis on vague and gray areas
- Operational challenges and tips
- Data reporting on the property, loan type, and loan features; plus, identification information (including subcategories)
- How GMI is reported (including differences in potential new 1071 reporting)
- The submission process – the mechanics
- Quarterly reporting for large reporters
- How the public obtains HMDA information changes
- Practical and compliance implications
Who Should Attend
Loan officers, managers, processors, compliance and fair lending officers, auditors, counsel, and anyone else with HMDA-related responsibilities, including data collection, reporting, analysis, and disclosure will benefit from this session.