Calendar of Events

Top 15 Issues with the New HMDA Rules

11/05/2018, 1:30 PM to 3:30 PM

No location provided

Amy Davis adavis@msbankers.com 601-948-6366

Description:
Top 15 Issues with the New HMDA Rules


Presented by Jack Holzknecht
Monday, November 5th, 2018

1:30 pm - 3:30 pm CT

COVERED TOPICS
  1. Which institutions are covered by HMDA and Regulation C beginning in 2018 and how the coverage rules may change in future years;
  2. Challenges in determining if a structure is considered a dwelling, like a manufactured home versus mobile home;
  3. When you should report a mixed-use property as a dwelling;
  4. How to report multifamily residential structures, such as manufactured home communities;
  5. Clarification on reporting home improvement loans;
  6. HMDA reporting requirements for construction and permanent financing versus TRID requirements;
  7. The expanded clarification on temporary financing;
  8. Whether your financial institution can exempt closed-end mortgage loans and open-end lines of credit in 2018 and in future years;
  9. The purpose of the Legal Entity Identifier and its impact on the Universal Loan Identifier;
  10. Explanation of the census tract data field and forthcoming geocoding tool available from the CFPB;
  11. Detailed requirements related to the collection of ethnicity, race, and sex of applicants and borrowers;
  12. Challenges with reporting the rate spread;
  13. Where to locate specific fees from the Loan Estimate and Closing Disclosure required to be reported on the HMDA LAR;
  14. When and how to report the use of an Automated Underwriting System; and
  15. Steps to identify and eliminate reporting errors and thereby avoid penalties.

Bonus item - Discussion of HMDA exemption contained in the Economic Growth, Regulatory Relief and Consumer Protection Act.

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