Attend the HMDA Seminar from the convenience of your own office or home via Live Streaming Video as it happens on Tuesday, December 14th (9:00 am – 4:00 pm Central Time), or at your own convenience with 6 months of OnDemand playback.
We’re about at that time of year again – HMDA data collection, verification, and preparation for submission. But the last few years have seen some pretty extensive expansions and other developments in HMDA that make data collection and submission more challenging than ever. Plus with the new administration and its focus on fair lending-related issues, enforcement of data accuracy issues will be at an all-time high.
How are you doing with all this? For 2021’s submission season, it’s essentially the same set of rules as 2020, but we’ve learned a lot over the past few years. In this full-day streaming session we’ll cover HMDA from beginning to end, including a review of all the pain points of HMDA, including exceptions, action taken, dates, loan factors and various other data points. We’ll provide plenty of links and resources to make the process easier, and we’ll address a number of questions, especially the tough ones: What data fields are most problematic? What is most commonly done incorrectly? What will examiners be looking at it? 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 some of your questions answered.
Covered Topics
- Final rules around thresholds and data elements – Who should report?
- Private vs. public data
- Details of the coverage rules – who collects and submits information, and when
- What types of loans and lines of credit are reportable
- The dwelling-secured loan standard – what does this impact? And what is a “dwelling”? Differences from Reg. Z
- Effects in the commercial loan area
- How to handle HELOCs
- LAR fields – many data requirements and tricky ones
- Categories of reporting, including information on the property, loan type, and loan features; plus identification information
- Collecting and reporting GMI – dependent on channel
- The submission process
- Quarterly reporting for some institutions
- How the public obtains HMDA information and its impact on fair lending risk
- Practical and compliance implications
- Fair lending impacts – what should you be looking at?
- Key field guidance
Who Should Attend?
Loan officers, managers, and processors, compliance and fair lending officers, auditors, counsel, and anyone else with HMDA-related responsibilities, including data collection, reporting, analysis, and disclosure.