Data collection under the revised HMDA rule begins January 1, 2018 for all applications with action dates in 2018.
This webinar will improve your understanding of the reporting requirements before you get too far into the reporting year. The topics include commonly asked questions on the revised HMDA rule. We will also leave time to take your questions on any aspect of HMDA.
The webinar will cover how to approach completing the LAR as well as the following partial list of topics:
- Loan Purpose including the new Not Applicable purpose
- Occupancy, especially "investment"
- Conditional Approvals
- Income and DTI
- Credit Scores
- Automated Underwriting System Reporting
- Rate Spread
- HOEPA changes
- Denial reasons
- Loans costs, points and fees, and other Regulation Z fields
- Interest rate and first rate change
- LTV/CLTV and Property Value
- Application channel and initially payable fields
- NMLSR ID who is covered and when to report Not Applicable