Scrubbing and Submitting 2017 HMDA Data

WHAT?

While the world of the Home Mortgage Disclosure Act (HMDA) is about to undergo major changes, creditors cannot afford to lose focus on the basic requirements of Regulation C that remain in effect until January 1, 2018. HMDA-reporting banks spend considerable time in January and February of each year "scrubbing" HMDA data before the March 1st submission date. In addition, financial institutions face new reporting requirements for 2017 data as the data must be submitted to the CFPB by March 1, 2018 through a new web interface known as the HMDA Platform, which includes the process for resolving edits. This webinar is designed to get you ready for these tasks.

Errors can result from the failure to report a covered loan, reporting a loan that is not reportable, miscoding data on reported loans. Regulators continue to report significant error rates for HMDA data. Penalties may be imposed for such errors. This program reviews data collection and reporting rules, common problems that occur when collecting and reporting the HMDA data, and issues related to the public disclosure of the information.

WHY?

This two-hour webinar focuses on the existing requirements of HMDA and Regulation C. The existing data fields continue unchanged through the end of the 2017 reporting cycle; however, the reporting process is changing dramatically. This program covers the basic rules of HMDA and Regulation C and provides the information needed to assure accurate reporting of 2017 HMDA data.

Participants receive a detailed manual that serves as a handbook long after the program is completed.

Program Content:

The program provides:

  • A thorough explanation of which institutions are covered by HMDA and Regulation C for the 2017 reporting cycle;
  • A review of which loans are and are not reportable;
  • Detailed information on how to complete the LAR;
  • Clarification of the rules related to secondary market and broker transactions;
  • Detail on the data submission and public availability requirements;
  • Steps to identify and eliminate reporting errors and thereby avoid penalties; and
  • Actions to take to prepare for the new reporting steps necessary for submitting the 2017 data to the CFPB.

Who Should Attend?

The program is designed for loan officers, compliance officers, loan processors and clerks and auditors. Whether new to the requirements of HMDA and Regulation C or a seasoned veteran, this program provides a comprehensive review of the existing requirements of HMDA and Regulation C.


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   OnDemand Recording - $295   
   CD-ROM - $345