Home Mortgage Disclosure Act: In Depth

The Home Mortgage Disclosure Act (HMDA) requires certain financial institutions to collect, report, and disclosure information about their mortgage lending activity. HMDA was originally enacted by the Congress in 1975 and is implemented by Regulation C.

The Regulation was overhauled in 2015, requiring a large of amount of additional data to be collected and reported. This course will provide you with the detailed information you need to ensure your Financial Institution is in full compliance with HMDA including, definitions, coverage, data collection and reporting, and disclosure requirements.

This course in intended for compliance and loan operations personnel.

Learning Objectives:

• State the purpose of HMDA
• Identify whether or not a financial institution is a HMDA reporter
• Identify the transactions that are HMDA applicable
• Know when to report covered loans
• Identify the modified and new data collection points
• Ensure compliance with disclosure requirements

Course Outline:

• Purpose
• Important Definitions
• Institution Coverage
• Transactions Coverage
• Data Points
• Reporting Data
• Disclosure Requirements

Rev–Jan. 2022. Course length ≈ 65 minutes. This course is worth 1 CPE credit.