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HMDA Compliance Training

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HMDA Regulations And Reporting Requirements

Implemented by the Federal Reserve through Regulation C, the Home Mortgage Disclosure Act (HMDA) requires many financial institutions to maintain, report, and publicly disclose loan-level information about mortgages.

Known to be one of the the most difficult lending regulation to understand and with which to comply, many banks unfortunately suffer civil money penalties for submitting inaccurate HMDA data.

What Is The Purpose Of The HMDA Regulations?

The primary purpose of the Home Mortgage Disclosure Act is to monitor the geographic targets of mortgage lenders, provide an identification mechanism for any predatory lending practices, and to provide reporting statistics on the mortgage market to the government.

Are There Any New HMDA Reporting Requirements? What Is The Asset Threshold For HMDA Reporting?

Financial institutions must fulfill their HMDA reporting requirements by filing their HMDA data with the Consumer Financial Protection Bureau (CFPB). The CFPB requires financial institutions with assets over $45 million to report under HMDA.

HMDA Compliance Training Courses For The HMDA Regulations

Our HMDA training courses will help you understand the HMDA regulations and your HMDA compliance requirements. Covered topics for your HMDA training needs include:
  • Who and what HMDA applies - and does not apply - to
  • Categories of reporting, including information on the property, loan type, and loan features
  • Coverage rules ? who collects and submits information, and when
  • What types of loans are reportable
  • What data is reported
  • Tips for data collection and validation
  • How to handle HELOCs
  • Requirements for reverse mortgages
  • Requirements for commercial loans secured by a dwelling
  • Rules for temporary financing ? clarification and examples to this confusing area
  • Rules for refinancing ? when it applies and when it does not
  • Pre-approvals vs. pre-qualifications
  • Reporting requirements

Find Other HMDA Training Courses

To find your desired HMDA training courses, either select a Recommended Course from the list below, or select "HMDA" and your state from the "Professional Development" section of the search box at the bottom of this page.

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What Are The HMDA Reporting Requirements? What Type Of Information Does HMDA Require?

Companies governed by HMDA are required to keep a record whenever someone applies for a home mortgage. HMDA reporting reqirements include:
  • The date of the application
  • The loan amount
  • The loan type (Conventional, FHA, VA, etc.)
  • The type of property
  • The location of the property
  • The purpose of the loan
  • The gross annual income of the borrower(s)
  • The borrower's age and credit score
  • The race, ethnicity, and gender of the borrower(s)
  • The borrower's debt-to-income (DTI) ratio
  • The type and date(s) of action taken (approved, denied, etc.)
  • Specifics on the loan, including interest rate, origination charges, and any points or fees
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