Update Yourself with the New Changes in the HMDA Disclosure Rules

The Consumer Financial Protection Bureau (CFPB) issued a final rule on October 15, 2015 which amends the disclosure rules of Home Mortgage Disclosure Act (HMDA). Exclusively designed for the public to supply financial information, HMDA provides knowledge on how financial institutions can effectively serve the community's housing needs, by asking financial institutions to provide certain data. The rule revises the tests for determining which financial institutions and housing-related credit transactions HMDA covers. It requires financial institutions to file new data information with the CFPB. Financial institutions with many reported transactions will be required to file quarterly, rather than annually.

If you're a mortgage originator, you must know the new HMDA reporting requirements. The compliance date is a few months away, but there is much to be done before then. Join expert speaker Chrys D. Lemon to know the data financial institutions must provide to CFPB to be compliant, note down the key dates, review the CFPB resources, reportable data etc. You will get an overview of techniques that may assist industry with compliance, and take part in discussion of applicable dates.

Session Highlights:

• Learn which financial institutions must provide data to CFPB in connection with which credit transactions.
• Review of the CFPB's Institutional Coverage Chart for 2017 and 2018.
• Summary of key dates.
• Review of resources made available by the CFPB.
• Review reportable data for 2017 (FFIEC requirements) and 2018 (new rule requirements).
• Receive an easy-to-use summary of the regulation and useful pointers.
• Overview of techniques that may assist industry with compliance.
• Detailed overview of the new requirements.
• Discussion of applicable dates.
• Which financial institutions and which credit transactions are covered.
• Look at which loans will need to be itemized.
• Review of "Reporting Not Applicable" provisions.
• Useful techniques, and pitfalls to avoid.

Who Should Attend

• Mortgage Loan Officers
• Compliance Personnel/Counsel who work with closed-end loans, open-end lines of credit, and reverse mortgages secured by dwellings.