In 2018, the CFPB doubled the number of reportable data points. A subsequent rule makes smaller banks “partially exempt” from the increased reporting requirement, but the rule can be difficult to understand. And very recently, the threshold for closed-end loans has decreased from 100 to 25, catching smaller banks off guard. It’s all so confusing. And even if the bank understands the basic HMDA rules, the detailed requirements for reporting can be difficult to understand. In this webinar, we’ll address the troublesome applicability issues and then explain the more difficult aspects associated with the data points . . . like reporting when there are multiple properties. We’ll provide registrants with a colorful, easy-to-read booklet containing explanatory charts, helpful Lender Worksheets, and an Input Worksheet for collecting LAR data. If the HMDA-reporting rules apply to your bank, you’ll find this explanatory webinar quite helpful.
What You’ll Learn
- The Multiple Property Rule
- Temporary-financing loans
- Multifamily dwellings
- HOEPA loans
- Loan purpose
- Property value
- Multifamily Affordable Units
Who Should Attend
This is a great webinar for lenders, processors, and compliance officers dealing with HMDA.