HMDA Roadmap Part 1: Impact, Important Changes & Implementation Considerations for Lenders

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Friday, September 9, 2016

8:00 am – 9:30 am PT
9:00 am – 10:30 am MT
10:00 am – 11:30 am CT
11:00 am – 12:30 pm ET

On October 15, 2015, the CFPB released a final HMDA rule to update the reporting requirements of Regulation C. The 797-page rule will make sweeping changes to Regulation C and dramatically expand HMDA reporting and compliance obligations. How will your financial institution handle the 110 data elements in the new rule? There are potential fair lending implications – more data means more analysis to identify potential discriminatory lending practices. The new coverage will include closed-end mortgage loans and open-end lines of credit secured by a dwelling. There will be required reporting of 53 new data fields. In addition, the new rule will require larger HMDA reporters to report data quarterly, rather than annually.

What are the impacts and important changes? Part 1 of this two-part series will address the road map for successful implementation for these sweeping changes. You’ll learn practical tips for developing a strategy that will help you work smarter during 2017 and be prepared when the data collection begins January 1, 2018.

Continuing Education: Attendance verification for CE credits upon request


What will the rules change?

  • More types of loans will be covered; the purpose test will be eliminated and the new rule will cover nearly all dwelling-secured loans
  • Data reporting will be dramatically increased in these categories:
    • Borrower Information and Underwriting Characteristics (age, credit score, debt-to-income ratio, combined loan-to-value, application channel, and automated underwriting system)
    • Property Data (postal address and location; property value, number of dwelling units, construction method, manufactured housing information, and multi-family housing information)
    • Product Features (points and fees, borrower-paid origination charges, discount points, non-discounted interest rate, interest rate, loan term, non-amortizing features, prepayment penalty, qualified mortgage, first draw information)
    • Identifiers (Universal Loan Identifier and Mortgage Loan Originator Identifier)
    • Clarification and Revisions to Existing Data Points include reporting the reasons for denial, occupancy type, lien priority, rate spread, HOEPA status, loan type, and loan amount
  • How is the commercial loan area affected?
  • How will you handle HELOC reporting?
  • Impact to the application process due to changes in the collection of government-monitoring information
  • Review of the HMDA resources provided by the CFPB

    • HMDA key dates timeline and coverage charts
    • HMDA worksheets and flowchart
    • Road map template for an implementation plan
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key


This program is the first of two in a series. Watch for
"HMDA Roadmap Part 2: Operations Systems, Audit & Reporting Implications"
on Wednesday, October 5, 2016


This informative session is designed for lenders, personal bankers, loan assistants and processors, loan operations staff, compliance officers, fair lending officers, and auditors.

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