HMDA Part 1: Application Basics
When is a mortgage loan application covered by the Home Mortgage Disclosure Act (HMDA)? What data must be collected? What types of dwellings necessitate HMDA reporting? What does a completed application look like? Attend this session to get the answers to these questions and more.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Determine if an application will be covered by HMDA using a simple four-step process to define loan purpose, dwelling security interest, extensions of credit, and exclusions
- Effectively use the CFPB’s HMDA resources
- Define the various types of dwellings that trigger a HMDA application
- Explain to applicants the need to collect demographic information
- Understand the elements of a completed application
WEBINAR DETAILS
The Home Mortgage Disclosure Act requires financial institutions to collect and report data related to certain applications secured by a dwelling. Reporting mistakes can result in civil money penalties and regulatory headaches. Join this fast-paced 60-minute session that will outline the basic rules for identifying potential HMDA applications, provide effective training for new employees, and reinforce the importance of “getting it right” for lending staff!
WHO SHOULD ATTEND?
This informative session is designed for all employees involved with HMDA reporting, including loan operations staff, loan officers, loan assistants, processors, compliance officers, and auditors.
