HMDA 2015 Reporting Update: Avoiding Common Mistakes

Duration: 90 minutes

Speaker: Susan Costonis

 

SHARE THIS WEBINAR

Webinar Description

On July 24, 2014 the Consumer Financial Protection Bureau (CFPB) published long-awaited proposed revisions to its Home Mortgage Disclosure Act (HMDA) rules. The 573-page proposed rule would make sweeping changes to Regulation C, and dramatically expand HMDA reporting and compliance obligations. There are potential fair lending implications – more data means more analysis to detect potential discriminatory lending practices. The proposed changes include required reporting of 37 new data fields, 20 of which are not currently required by HMDA and represent additional information the CFPB would like to collect. The proposal would require financial institutions to report home equity lines of credit (HELOCs), reverse mortgages, and commercial loans secured by a dwelling. In addition, the proposal would require “larger” HMDA reporters to report data every calendar quarter, rather than on an annual basis. 

What do you need to know now? Attend this information-packed 90 minute webinar to review the HMDA reporting requirements for 2015 and learn practical tips for data collection and validation. Reporting mistakes can be costly and result in civil money penalties, staff time for resubmission, and potential fair lending issues. What’s on the horizon? We’ll review the proposed rule to help prepare for the changes that may become effective in 2016.

 

Agenda

Overview of the HMDA requirements for 2015 activity, including:

Best practices for HMDA data validation

What will the proposed rules change?

BONUS - HMDA TOOLKIT

Logistics

This event will be presented live with a PowerPoint presentation to be viewed on your computer. You may listen to the audio of the webinar by telephone or through your computer. The PowerPoint slides will be provided shortly before the event. Once you register, you will receive an email which is your receipt and which includes your instructions for dialing in and logging on. You will also receive an email reminder 24 hours before the webinar.