|Mon Jun 6 EDT (over 1 year ago)
Sometimes going back to the basics is a step in the right direction.
If you (or your institution) are new to HMDA reporting, this program will provide a solid foundation and the details needed to collect and report data the right way.
After This Webinar You’ll Be Able To:
• Determine the various types of dwellings that trigger a HMDA application
• Explain to applicants why demographic information (ethnicity, race, and gender) is collected
• Understand the elements of a completed application
• Define the correct loan purpose
• Handle common reporting problems for commercial loan applications:
- Distinguish between covered and excluded applications
- Identify which structures can be considered a dwelling for HMDA reporting
- Sort out complex issues with mixed-use dwellings (these structures are often used as collateral for commercial loans)
The event requires financial institutions to collect and report data related to certain dwelling-secured applications. The detailed definitions and requirements can be confusing for new employees and financial institutions that have just become subject to reporting. This bootcamp session will provide straightforward examples that explain the rules for identifying potential HMDA applications and the elements of data collection – while reinforcing the importance of “getting it right.”
Who Should Attend?
This informative session is designed to teach the basics of HMDA reporting to those new to the process. It will also be a helpful review for loan operations staff, loan officers, loan assistants, processors, compliance officers, and auditors.
Compliance Training & Consulting for Financial Institutions