HMDA Fair lending Update and Fair Lending Enforcement Actions (MLC662U)

  Pre Recorded Webinar
  60 minutes
  
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Start Today to Meet with the CFPB’s New HMDA Final Rule Guidelines

The Consumer Financial Protection Bureau ( CFPB), on October 2015, issued the new final Home Mortgage Disclosure Act (HMDA) rule, which includes various important reporting requirement changes for lenders under HMDA, and also changes in coverage of transactions, reporting and institutions.

HMDA has been a major source of fair lending litigation and regulatory claims previously. However, t he new data will also allow the government and plaintiffs to scrutinize loan data and lender application along with the risk factors used, which help in evaluat ing the impact on certain protected classes. This increased scrutiny can lead to business harm to lenders. This extensive final HMDA rule expands the number of entities, especially non-banks, required to report and requires the reporting of numerous new data points on borrowers and their mortgages. The rule will require compliance personnel to start today to implement the new guidelines by 2017.

Join this session, where expert speaker Anthony M. Sharett will provide you with a regulatory update and tools that lenders need to prepare now and for the future  to successfully implement the new HMDA final rule. The  session will also provide you with examples of enforcement actions and compliance management systems, as well as tools for risk-based compliance.

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Anthony Sharett is a partner in the Litigation Practice Group in BakerHostetler's Columbus office and Vice-chair of the Financial Services Industry Group.  Sharett focuses his litigation practice on consumer financial services and litigation and regulatory enforcement. He has successfully d... More info

 


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Disclaimer: The content herein does not represent any association between CFPB and Eli Financial LLC. CFPB neither endorses any product of Eli Financial LLC nor warrants accuracy of the content hereto.