It’s been a challenging year for HMDA reporters. Complex new rules were
effective January 1, 2018, followed by the CFPB’s procedural rule issued August
31, 2018. The new rule allows partial exemptions of selected HMDA data fields
for small volume institutions. It is critical to understand the rules and be
adequately prepared to file an accurate submission of 2018 activity by the March
1, 2019, deadline.
This is Part 2 of a two-part series. Part 2 will
focus on preparing data for submission and the technical requirements. Join us
for an in-depth review of the partial exemption rules and exemption codes.
- Review of institutional coverage for all reporters for
- May 24th rule changes and partial HMDA exemptions
- Decision points about exempt data
- Some data fields are not required
under the partial exemption rule, but it’s a best practice to retain and not
report certain fields to support lending decisions and demonstrate fair lending
- Options for reporting loans sold to the secondary market and
partial exemption data fields
- Using the Filing Instructions Guide (FIG) to
clear the four types of edits (syntactical, validity, quality, and macro
Susan Costonis, CRCM, Compliance Consulting & Training for FIs
Live and recorded webinar, handouts, quiz with answer key and training log are included.