HMDA Reporting Part 1: Application Basics
- Unlimited and shareable access
two business days after live streaming
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
HMDA could be an acronym for How Much Data Applies?
- Distinguish a “prequalification” which is not HMDA reportable, from a “preapproval” which is reportable
- Effectively use the CFPB’s HMDA resources to identify potential applications
- Define 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
The Home Mortgage Disclosure Act (HMDA) requires financial institutions to collect and report data related to certain dwelling-secured applications. Reporting mistakes can result in civil money penalties and regulatory headaches. Join this fast-paced 60-minute session that outlines the basic rules for identifying potential HMDA applications and provides effective training for new employees and reinforces the importance of “getting it right” for the lending staff. This is the first webinar of a three-part series. Attend Parts 2 and 3 to learn more about collecting demographic information and commercial lending issues.
WHO SHOULD ATTEND?
This informative session is designed for all employees who need to understand and manage HMDA reporting, including loan operations, loan officers, loan assistants, processors, compliance officers, and auditors.
- HMDA flow chart and checklists
- CFPB resource links
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits.