HMDA is known to be the most difﬁcult lending regulation to understand and with which to comply. Unfortunately, the error tolerances are as low as 5%, and many banks suffer Civil Money Penalties for submitting inaccurate HMDA data.
This webinar will focus on the current requirement, plus give you an overview of the coverage requirements effective 1/1/2017 and 1/1/2018. Your presenter is David Dickinson, 2016 recipient of the ABA Distinguished Service Award who has been teaching HMDA at the ABA's Compliance School for 15 years.
What You Will Learn:
- A Summary of the New Final Rules - Effective 1/1/2017 and 1/1/2018
- HMDA: What’s it all about? The background/purpose
- Who HMDA applies to?
- Which loans are and are not HMDA reportable
- Common violations
- Information gathering and reporting
- What HMDA applies to?
- What HMDA does not apply to? Lots of examples.
- Proper completion of the LAR: 17 items that must be collected and completed for each entry
- Temporary financing – clarification and examples to this confusing area
- Refinancing – when it applies and when it does not
- Pre-approvals vs. pre-qualifications
- Pre-approval examples
- Public notices
- Resources, tools and quick reference guides
Who Should Attend?
All loan department personnel, compliance officers, and auditors
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