We’re in an age where regulators are citing lenders for data integrity violations and even assessing civil money penalties How is your process?
In this webinar, we’ll review all the pain points of HMDA, including the always-challenging action taken and a variety of other data points. We’ll review the differences between prequalification and preapproval, as well as conditional approval.
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
- 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
- The dwelling-secured loan standard: What does this impact? What is a “dwelling?”
- Clarifications and definitions, including exceptions – knowing what not to report
- Impacts on commercial loan areas
- Handling HELOCs
- Dealing with conditional approvals: When to report and when to not report
- LAR fields and details on data requirements, with emphasis on vague and gray areas
- Data reporting on the property, loan type, and loan features, plus identification information (including subcategories)
- How GMI is reported (including differences in 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
This session is ideal for 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.