HMDA: Avoiding Common Errors
HMDA errors hide in the details. This timely webinar will help you sharpen HMDA processes, avoid common reporting mistakes, and strengthen data accuracy before submission.
KEY WEBINAR TAKEAWAYS
- A key understanding of the applications (not loans) that are HMDA-reportable
- Common problems with errors and omissions testing
- Understanding whether prequalification’s and preapprovals are reportable
- Key data fields issues and ensuring data validity – where problems result
BONUS MATERIALS
- Helpful website links to available resources
WEBINAR DETAILS
HMDA is always one of the more complex regulatory topics out there. So many data fields with very specific requirements, which means many opportunities for errors. How is your process? Midyear is a good time to do a checkup on your data collection and reporting procedures, as well as the data itself. There are more than a few tripwires and tricky data points to keep track of, and that requires a detailed and consistent process to ensure the right information is collected and submitted every time.
In this webinar, we’ll review in detail all the common gray areas and pain points of the numerous HMDA data fields, including the always-challenging action taken, application date, and many others. We’ll also go over the requirements to ensure you’re reporting everything that you should be. We’ll review the differences between prequalification’s and preapprovals, as well as conditional approvals.
