It’s time once again to gather last year’s HMDA data to report by March 1. Although somewhat routine, it’s not “old hat.” HMDA reporting can be challenging, and mistakes can be costly. This webinar will provide the information needed to fine-tune your HMDA reports.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Submit the 2020 data with added confidence and improved data integrity
- Effectively use HMDA resources in the CFPB’s 2020 FIG (Filing Instructions Guide)
- Grasp several confusing issues, such as what is and isn’t a dwelling, mixed-use property scenarios, and complex demographic information collection
- Explain how to handle quality edits
- Understand clarifications for complicated data points
HMDA reporting continues to be a challenging and potentially expensive endeavor for many financial institutions. One of the 10 largest HMDA lenders was fined $1.75 million for multiple years of inaccurate reporting. This fast-paced webinar will include citations, tips, real-life examples, tools for submitting 2020 HMDA data by the March 1, 2021, deadline, and these top 10 HMDA reporting challenges:
- Secondary market reporting rules
- Tricky temporary financing issues, exemptions, and renewals of temporary financing
- Correct gross annual income reporting
- Dwelling definitions and mixed-use property scenarios
- Demographic information collection dos and don’ts
- Reporting tips for commercial loan applications
- Data submission challenges with quality edits
- Technical issues, such as keeping software updated and using the right browser
- Tips to effectively use the 2020 FIG
- Data integrity challenges – submission and resubmission steps
WHO SHOULD ATTEND?
This informative session is designed for staff involved with HMDA reporting, including loan operations personnel, loan officers, loan assistants, processors, compliance officers, fair lending officers, IT support staff, and auditors.
- HMDA worksheets and flowchart for 2020 activity, including updated CFPB resources
- Lists of data fields for each data point
- Step-by-step data collection definitions and important tips to avoid mistakes
- HMDA compliance resources, including submission and fair lending checklists
- Employee training log
- Interactive quiz
SPEAKER: Susan Costonis, Compliance Consulting and Training 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.