Home Mortgage Disclosure Act
Course Number: HMDA1
Course Code: RG 0275
Explores the types of loans covered by HMDA, and explains the collection steps for the government monitoring information, and the information required for reporting on the Loan Application Register. 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
-List other Acts that support fair lending practices
-List the regulatory agencies involved with HMDA reporting
-Describe management responsibilities for reporting HMDA information
-Describe how to complete each section of the Loan Application Register
Audience: Bank personnel with responsibilities for any part of the mortgage lending process.