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There are significant changes on the HMDA horizon, beginning January 1, 2018. But financial institutions will still operate under the existing rules for the 2016 data being reported by March 1, 2017. Reporters typically devote significant time to “getting it right” during January and February. Regulators can assess civil money penalties for HMDA reporting errors and require institutions to scrub and resubmit data, which can be expensive and time-consuming. How can these fines, penalties, and headaches be avoided? What does your HMDA data tell the regulators and the community about potential fair lending issues?
This webinar will cover the basic requirements for accurate HMDA data collection. Learn how to use the “HMDA Getting It Right Guide” and other tools that will streamline your efforts, find potential reporting errors, and identify fair lending red flags.
HIGHLIGHTS
Overview of HMDA requirements for 2016 activity
Who reports HMDA data?
What types of loans are covered?
What data is reported?
When and how is data reported?
“Pain points” and the top 10 HMDA reporting mistakes – and solutions for accurate reporting
How to properly report data in the 26 required fields on the Loan Application Register (LAR)
Common reporting mistakes and practical tips for managing the process
Best practices for HMDA data validation to eliminate reporting errors and avoid expensive penalties
Overview of HMDA data analysis for fair lending purposes
TAKE-AWAY TOOLKIT
HMDA worksheets and flowchart for 2016 activity
Step-by-step data collection definitions and important tips to avoid mistakes
HMDA compliance resources, including checklists for submission and fair lending
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
DON’T MISS THIS RELATED WEBINAR!
HMDA Data Collection Rules: Preparing for the Extensive January 1, 2018 Changes on Wednesday, May 17, 2017
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Loan operations staff, loan officers, loan assistants and processors, compliance officers, fair lending officers, and auditors.
ABOUT THE PRESENTER – Susan Costonis, Compliance Consulting and Training for FIs is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.
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