HMDA - Last Minute Update (Warning)
Duration: 60 Minutes
Are you ready? The world of HMDA is changing in a dramatic fashion in just a few weeks! On October 13, 2015, the Consumer Financial Protection Bureau (CFPB) published 797 pages of final rules to implement changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and changes from the CFPB that are intended to modernize and simplify the reporting requirements. The final rules are generally effective on January 1, 2018. In addition, the CFPB released revisions to the HMDA final rules on August 24, 2017 that will also be effective as of January 1, 2018 and will impact your collection and reporting requirements.
Objectives of the Presentation
Why Should you Attend
- Which applications and loans are and are not reportable
- Amendments related to the collection of ethnicity, race, and sex of applicants and borrowers
- Details on the data submission requirements and public availability requirements
- Final amendments published on August 24, 2017, including the impact these will have on many financial institutions reporting open-end lines of credit
- A review of the obscure areas of the regulation to assist in eliminating reporting errors and avoid penalties
This is your last opportunity to ensure your financial institution is prepared and ready for these massive changes! This program provides a last-minute thorough review of the revised Regulation C rules to assure participants have a comprehensive understanding of the intricate details of HMDA.
Who will Benefit
- Loan officers
- Compliance officers
- Loan processors and clerks and auditors