Financial institutions have settled into the 2018 HMDA revisions. The world of HMDA has changed in a dramatic fashion. On April 16, 2020, the Consumer Financial Protection Bureau (CFPB) published a final rule amending Regulation C to set the thresholds for reporting data about:
- Closed-end mortgage loans, so that institutions originating fewer than 25 closed-end mortgage loans in either of the two preceding calendar years will not have to report such data effective July 1, 2020.
- Open-end lines of credit at 200 open-end lines of credit effective January 1, 2022, upon the expiration of the temporary threshold of 500 open-end lines of credit.
What You’ll Learn
- A thorough explanation of which institutions are covered by HMDA and Regulation C
- A review of which loans are and are not reportable
- Detailed information on how to complete the LAR
- Information regarding amendments related to the collection of ethnicity, race, and sex of applicants and borrowers
- Detail on the data submission and public availability requirements
Who Should Attend
The program is designed for loan officers, compliance officers, loan processors and clerks and auditors.