HMDA Reporting Requirements: Preparing for 2016 and The New Final Rule Webinar

CFT Credits: 0.25

Learn HMDA reporting requirements so your financial institution begins 2016 with appropriate procedures and controls. Get practical tips for data collection and validation (see complete description below).

Click Here for Webinar Description and Audience

On October 15th, 2015 the CFPB released a final HMDA rule to update the reporting requirements of Regulation C. The 797-page rule will make sweeping changes to Regulation C, and dramatically expand financial HMDA reporting and compliance obligations. There are potential fair lending implications – more data means more analysis to detect potential discriminatory lending practices. The new coverage will include closed-end mortgage loans and open-end lines of credit secured by a dwelling. There will be required reporting of many new data fields. In addition, the new rule will require “larger” HMDA reporters to report data every calendar quarter, rather than on an annual basis.

What do you need to know now? Learn HMDA reporting requirements so your financial institution begins 2016 with appropriate procedures and controls. Get practical tips for data collection and validation. What’s on the horizon? See highlights of the new rule to help prepare for changes that become effective January 1, 2018. Although implementation of the new rule isn’t for two years, there are certain impacts your financial institution may want to consider sooner rather than later.

Covered Topics:
•Overview of HMDA requirements for 2015 activity, including:
◦Who reports HMDA data?
◦What types of loans are covered?
◦What data is reported?
◦When is the data reported?
◦How is the data reported?
◦How to properly report data of the 26 required fields
◦Common reporting mistakes and practical tips for managing the process
•Best practices for HMDA data validation
•What will the proposed rules change?
◦More types of loans will be covered; the “purpose” test will be eliminated and cover nearly all dwelling-secured loans
◦Data reporting is dramatically increased in these categories
◾Borrower Information and Underwriting Characteristics (age, credit score, debt to income ratio, combined loan-to-value, application channel, automated underwriting system)
◾Property data (postal address and location; property value, number of dwelling units in the property, construction method, manufactured housing information, multi-family housing information)
◾Product Features (points and fees, borrower-paid origination charges, discount points, non-discounted interest rate, interest rate, loan term, non-amortizing features, prepayment penalty, qualified mortgage, first draw information)
◾Identifiers (Universal Loan Identifier, Mortgage Loan Originator Identifier)
◾Clarification and Revisions to Existing Data points include reporting the reasons for denial, occupancy type, lien priority, rate spread, HOEPA status, loan type, loan amount
◦Technical changes and web-based data submission
◦Privacy concerns about the public availability of the data
◦Increased oversight will be required to prove the data is accurate
◦HMDA Worksheets and Flowchart
◦Summary of changes of the new rule
◦Step-by-step data collection definitions and important tips to avoid mistakes for 2016 reporting
◦Helpful HMDA compliance resources including checklists and a matrix of 28 types of real estate secured lending regulation requirements

Who Should Attend?

Loan Operations, Loan Officers, Loan Assistants and Processors, Compliance Officers, Fair Lending Officers, and Auditors.

Click Here for Continuing Education Credits (CEC) Info

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

Click Here for Viewing Option Descriptions

INCLUDES 7 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.

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Choose the viewing option that best suits your needs. Live Webinar times are shown as Eastern Time. You can choose to pay by credit card or invoice when you register. CFT Credit will be awarded to the registrant, unless directed otherwise (additional attendees can also receive credit for an additional fee). CFT Webinars are powered by Total Training Solutions!

Webinar DateStart TimeEnd DateEnd TimeViewing Options - See Descriptions AbovePrice
12/16/15Archived Six Month On-Demand Recording$295.00Order
12/16/15Archived CD-ROM Video Recording$345.00Order