HMDA: A Summary of the New Final Rules

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