Home Mortgage Disclosure Act (HMDA) Overview
Course Number: ABA
Course Code: ABA
Explores the types of loans covered by HMDA, and explains the collection steps for the government monitoring information, and the how the Loan Application Register information is used. Defines the role of supervisory agencies and management in ensuring data is reported as outlined in HMDA.
After completing this course, students will be able to:
– Explain the purpose of the HMDA and what it covers
– Describe the financial institutions required to report HMDA data
– Identify when and how to complete government monitoring information (GMI)
– Identify Interagency Designated Key HMDA Data Fields
Audience: Bank personnel with responsibilities for any part of the mortgage lending process.