HMDA reporting can be tricky and error laden. Increase your institution’s accuracy and reduce potential liability by learning the latest on the issues that beset HMDA reporters, including the top 10 challenges.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Submit the 2021 HMDA data with added confidence and improved data integrity
- Effectively use the HMDA resources in the CFPB’s 2021 Filing Instructions Guide
- Unravel confusing issues, such as what is and isn’t a dwelling, mixed-use property scenarios, and complex demographic information collection
- Explain how to handle several types of quality edits
- Understand clarifications for complicated data points
HMDA reporting continues to be a challenge for many financial institutions and potentially expensive for some. One of the 10 largest HMDA lenders was fined $1.75 million for multiple years of inaccurate reporting. Join this fast-paced webinar to learn the top 10 issues that challenge HMDA reporters, receive valuable tools, and prepare to submit your 2021 HMDA data before March 1, 2022. The presentation will include citations, tips, real-life examples, and these top-five issues that can cause reporting errors:
- Secondary market reporting rules
- Dwelling definitions and mixed-use property scenarios
- Demographic information collection dos and don’ts
- Reporting tips for applications made in the commercial loan area
- Data integrity challenges and submission and resubmission steps
WHO SHOULD ATTEND?
This informative session is designed for staff who contribute to or manage HMDA reporting, including loan operations staff, loan officers, loan assistants, processors, compliance officers, fair lending officers, IT support staff, and auditors.
- HMDA worksheets and flowchart for 2021 activity, including updated CFPB resources
- Lists of data fields for each data point
- Step-by-step data collection definitions and tips to avoid mistakes
- HMDA compliance resources including checklists for submission and fair lending
- Employee training log
- Interactive quiz
SPEAKER: Susan Costonis, Compliance Training & Consulting for Financial Institutions
Susan Costonis is a compliance consultant and trainer. She specializes in compliance management along with deposit and lending regulatory training. Most of her 35-year career was spent as a banker in several areas including lending, loan administration, electronic banking, and compliance risk management.
Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.