HMDA: Preparing for 2018
Course Number: ABA
Course Code: ABA
Explains how the new HMDA Rule changes will affect your institution’s data collection and reporting efforts. Identifies unchanged, modified and new data points and emphasizes the need to verify the bank’s obligations for timely recording and understand the proper reporting process to ensure compliance with the regulation.
Note: Focuses on the changes effective in 2018 and will be updated with 2019 and 2020 changes in the future.
After completing this course, students will be able to:
-Explain the purpose of HMDA and the implementation dates of the 2015 HMDA Rule changes
-Describe the institutional and transaction coverage changes
-Explain the modified and new data points required on the Loan Application Register (LAR)
-Explain financial institutions’ data recording, reporting and disclosure responsibilities and enforcement
Audience: Bank personnel with responsibilities for any part of the mortgage lending process.