Description:
Register by July 22nd and take advantage of our Early Bird Pricing!
All registrations to Compliance Resource webinars include five live connections AND the recording of the webinar (guaranteed for one year).
Top 15 HMDA Issues has been submitted to ABA Professional Certifications for CE credit review and is pending approval. Once we receive notification of the credit approval, we will notify attendees.
WHAT?
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.
Other recent activity includes:
- 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 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.
WHY?
This two-hour webinar provides insight into the murky areas of HMDA which may result in the failure to report the appropriate loans on the LAR or errors in reported data fields. Participants receive a detailed manual that serves as a handbook long after the program is completed.
PROGRAM CONTENT
The program explores:
- Which institutions are covered by HMDA and Regulation C;
- Challenges in determining if a structure is considered a dwelling, such as a manufactured home versus a mobile home;
- When a mixed-use property is reported as a dwelling;
- How to report multifamily residential structures, such as manufactured home communities;
- Clarification on reporting home improvement loans;
- HMDA reporting requirements for construction and permanent financing versus TRID requirements;
- The expanded clarification on temporary financing;
- Whether a financial institution can exempt closed-end mortgage loans and open-end lines of credit now and in the future;
- The purpose of the Legal Entity Identifier and its impact on the Universal Loan Identifier;
- Proper reporting of property-related fields;
- Detailed requirements related to the collection of ethnicity, race, and sex of applicants and borrowers;
- Challenges with reporting the interest rate and rate spread;
- Where to locate specific fees from the Loan Estimate and Closing Disclosure required to be reported on the HMDA LAR;
- When and how to report the use of an Automated Underwriting System; and
- The partial exemption contained in the Economic Growth, Regulatory Relief and Consumer Protection Act.
Bonus item – A review of the A Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2022.
WHO?
The program is designed for loan officers, compliance officers, loan processors and clerks and auditors.
This program will start at 2:00 PM EDT, 1:00 PM CDT, 12:00 PM MDT, or 11:00 AM PDT
Recording Included
This webinar will be recorded and sent to all registrants. You will receive links to the recording following the program. These recordings have unlimited viewings and are available for up to one year.
Register by July 22nd and take advantage of our Early Bird Pricing!
Presenters:
Kimberly Boatwright
Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC and has more than a two decades of experience working in the financial services industry. Ms. Boatwright is a well-regarded financial industry risk and compliance professional with a strong background in program development and implementation. She is a thought leader who specializes in Fair Lending, Anti-Money Laundering, OFAC and consumer compliance. During her career she has worked for and consulted with all types of financial institutions helping to establish and evolve compliance and risk programs. She is a frequent public speaker, trainer, and author on compliance and risk management topics. Kimberly is a Certified Regulatory Compliance Manager and a Certified Anti-Money Laundering Specialist.
Jack Holzknecht
Jack Holzknecht is the Founder of and Senior Consultant at Compliance Resource, LLC. He has been delivering the word on lending compliance for 46 years. In 41 years as a trainer over 155,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.
August 30, 2022