1. HMDA: Reporting Under the Expanded Rule

HMDA: Reporting Under the Expanded Rule

Banking compliance expert Lisa Zigo will clarify the current HMDA reporting requirements. You will learn how to accurately classify and document the data and discover strategies to make the process go smoothly in your institution.
Event ID: 2226281
Date: Recorded on Thursday, April 16, 2020
Duration: Scheduled for 90 minutes including question and answer period.
Presenter: Lisa Zigo, banking compliance expert
Credits: Live webinar approved for 1.5 NASBA credit hours (Management Services)

HMDA: Reporting Under the Expanded Rule

The Home Mortgage Disclosure Act (HMDA) requirements changed significantly when the Consumer Financial Protection Bureau issued its 2015 rule. There are still areas of considerable confusion and nuances you may not yet understand. Many banks have not been through an HMDA data integrity exam since the new reporting became effective January 1, 2018.

Now is a perfect time to get a refresher on your HMDA data collection and reporting obligations.

  • Which transactions are reportable and which are exempt?
  • What does HMDA consider a “dwelling”?
  • What are the rules about collecting and reporting demographic information?
  • How can you report income, number of units, and rate spreads?
  • When should you report “NA” for specific fields?
  • How can you determine the correct action, particularly when it involves conditional approvals?

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