Gain a better understanding of the HMDA reporting requirements, as well as some key areas of concern or difficulty.
The Home Mortgage Disclosure Act (HMDA) requires covered financial institutions and other mortgage lenders to collect and report detailed information about loan applications that can be used by regulators to identify potential discriminatory lending patterns or communities under service.
Reporting accurate data under these rules is a key responsibility of regulated mortgage lenders. Further, these lenders must analyze and understand their HMDA data to identify potential patterns of disparate treatment or disparate impact and address any such problems before regulators raise them in an examination or an investigation. This presentation will assist persons responsible for reporting under HMDA to understand the basics of the HMDA reporting requirements, as well as some key areas of concern or difficulty. The presentation will also explain how HMDA data is used by regulators, including a discussion of some key enforcement actions related to HMDA data in recent years. Finally, it will provide some practical tips and best practices for financial institutions to follow to ensure that their data is reported correctly and any potential patterns of disadvantage to protected class borrowers are understood and addressed prior to an examination.
Learning Objectives
- You will be able to describe the basics of HMDA reporting requirements.
- You will be able to discuss why HMDA reporting matters.
- You will be able to explain how HMDA data is used by regulators.
- You will be able to review practical tips and best practices to ensure data is reported correctly.
Agenda
HMDA Overview
- Refresher on Reporting Requirements
- Expanded Data Set and Coverage Thresholds
- Reporting
Why HMDA Reporting Matters
- Use by Regulators for Fair Lending Monitoring
- Driver of Investigations and Enforcement Actions
- Also Subject to Compliance Examinations
HMDA and Enforcement
- HMDA Compliance: Washington Federal Consent Order
- Fair Lending/Redlining: Trustmark/Cadence Bank
- Prudential Regulators: CRA Examinations
Managing HMDA Data: Data Integrity
- Accurate Reporting (Technology, Manual, Combinations)
- Quality Control and LAR Scrubs
- Mining Data for Fair Lending Risk
Speakers
R. Andrew Arculin,
Blank Rome LLP- Partner, Blank Rome LLP, Washington, D.C.
- A thought leader in the fields of consumer lending, FinTech, and mortgage banking who leverages his prior experience with the Consumer Financial Protection Bureau (CFPB) to provide informed counsel
- Assists banks, credit unions, non-bank lenders, consumer reporting agencies, technology companies, and their vendors with regulatory compliance, civil enforcement, and transactional matters
- Focuses on consumer credit statutes and regulations, including the Truth in Lending Act (TILA); the Equal Credit Opportunity Act (ECOA); the Fair Credit Reporting Act (FCRA); the Real Estate Settlement Procedures Act (RESPA); the Home Mortgage Disclosure Act (HMDA); Unfair, Deceptive and Abusive Acts and Practices (UDAAP); and other federal and state statutes and regulations
- Coauthored Chapter 15, Real Estate Settlement Procedures Act and Regulation X, of Consumer Finance Law: Understanding Consumer Financial Services Regulations, published by the American Bar Association
- Member of the District of Columbia Bar Association and listed in The Legal 500 United States, Finance – Financial Services Regulation (2018–2020)
- J.D. degree, cum laude, The Catholic University of America; B.A. degree in economics, University of Virginia
Who Should Attend
This live webinar is designed for presidents, vice presidents, branch managers, loan officers, loan department personnel, credit and collection managers, accountants, and attorneys.
