Top 15 Issues with HMDA Webinar

The world of HMDA changed dramatically on January 1, 2018. The final rules implementing changes to Regulation C required by the Dodd-Frank Wall Street Reform and Consumer Protection Act were generally effective on that date. Further issues arose on May 24, 2018 when Congress passed the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA).

The 2018 modifications to HMDA were massive and many financial institutions are still dealing with the challenges of collecting data under the burdensome new requirements. The partial exemption provisions resulting from EGRRCPA were a blessing and a curse.

Recent Activity:

  • An advanced notice of proposed rulemaking (ANPR) was published on May 8, 2019.The ANPR solicited comments about the costs and benefits of collecting and reporting the data points the 2015 HMDA Rule added to Regulation C and certain preexisting data points that the 2015 HMDA Rule revised. Comments on the APRN were accepted until July 8, 2019. This rule is still pending.
  • On October 10, 2019 the CFPB published a final rule that:
    • Extends the current temporary coverage threshold of 500 open-end lines of credit for another two years, until January 1, 2022;
  • On April 16, 2020 the Consumer Financial Protection Bureau (CFPB) published a final rule amending Regulation C to set the thresholds for reporting data about:
    • Closed-end mortgage loans, so that institutions originating fewer than 100 closed-end mortgage loans in either of the two preceding calendar years will not have to report such data effective July 1, 2020.
    • Open-end lines of credit at 200 open-end lines of credit effective January 1, 2022, upon the expiration of the current temporary threshold of 500 open-end lines of credit.

This program provides the top 15 issues that may be undermining your HMDA compliance efforts.

Covered Topics

  1. Which institutions are covered by HMDA and Regulation C and how the coverage rules will change in future years;
  2. Challenges in determining if a structure is considered a dwelling, such as a manufactured home versus a mobile home;
  3. When a mixed-use property is reported as a dwelling;
  4. How to report multifamily residential structures, such as manufactured home communities;
  5. Clarification on reporting home improvement loans;
  6. HMDA reporting requirements for construction and permanent financing versus TRID requirements;
  7. The expanded clarification on temporary financing;
  8. Whether a financial institution can exempt closed-end mortgage loans and open-end lines of credit now and in the future;
  9. The purpose of the Legal Entity Identifier and its impact on the Universal Loan Identifier;
  10. Proper reporting of property-related fields;
  11. Detailed requirements related to the collection of ethnicity, race, and sex of applicants and borrowers;
  12. Challenges with reporting the interest rate and rate spread;
  13. Where to locate specific fees from the Loan Estimate and Closing Disclosure required to be reported on the HMDA LAR;
  14. When and how to report the use of an Automated Underwriting System; and
  15. The partial exemption contained in the Economic Growth, Regulatory Relief and Consumer Protection Act.
    Bonus item – Clarification of the recently revised HMDA closed-end thresholds.

Who Should Attend?

The program is designed for loan officers, compliance officers, loan processors and clerks and auditors.

Continuing Education (CE) Credits

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

View Delivery Options

Related Topics

Instructor

Jack Holzknecht
Jack Holzknecht

Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 45 years. In 40 years as a trainer over 150,000 bankers (and many examiners) have part... read more.

Course Title Credits Start Date Start Time Delivery Type Delivery Option Instructor / Location Price
Top 15 Issues with HMDA 0.25 Any Any Webinar Six Month On-Demand Recording Jack Holzknecht $295.00 Register Now
Top 15 Issues with HMDA 0.25 Any Any Webinar CD-ROM Video Recording Jack Holzknecht $345.00 Register Now
Delivery Options

LIVE WEBINAR:
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!

SIX MONTH ONDEMAND VIDEO:
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.

CD-ROM VIDEO:
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.

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