HMDA Headaches and Cures

Course/Product Description
Title:	HMDA Headaches and Cures
SKU:	WC-1038461
Date / Time:	Recorded
Format:	Webcast
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Description:	HMDA reporters must follow the new rules for applications when final action is taken on or after January 1, 2018. Are you prepared for these sweeping changes? Many banks do not have a formal “application” form for commercial and agricultural loan requests. While the reporting process may be more streamlined in the mortgage and consumer area, there will be significant changes for business purpose applications. For instance, the “dwelling secured” standard was generally adopted for closed-end loans and lines of credit for consumers. Business or commercial loans have both the loan purpose test and the dwelling secured tes. Business or commercial purpose loans and lines of credit are reportable only if the purpose of the loan is for home purchase, home improvement, or refinance and the loan is secured by a dwelling. What type of business purpose loans will be reported? What factors are considered in the purpose test? What if the collateral is a “mixed use” property? Lenders must request applicants and co-applicants who are “natural persons” to identify their ethnicity, race, and sex; this requirement does not apply to a corporation, partnership, LLC, or guarantors. Will the data collection forms you are currently using provide all the required fields for the new reporting requirements? There are approximately 48+ “working days” from this presentation until January 1, 2018. There are very few parts of the existing rules that will remain unchanged and there are 110 data elements in the new rule. Will you be ready for these extensive changes? Attend this session and learn more about application processing for commercial loans under the new rules and gain valuable tips that will help your bank prepare for 2018. Highlights: Coverage issues – Which COMMERCIAL applications are covered loans that require data to be collected at the time of application? What types of dwellings are included? Best practices for documenting that applications for agricultural purpose are EXEMPT! What data will be reported? What data will be excluded for business applications? Business purpose loans have many fields that are “not applicable”. What is the correct application date? Identifying the correct loan purpose – there are FIVE options and rules for multi-purpose loans. What does the front-line need to know about these changes? Suggestions for potential problems with collecting, reporting, and validating the data fields for “applicant” and applications in these required fields and understanding when they may NOT be reported: Age for applicants who are “natural persons”, for example a sole proprietor Income – when is reporting required? Reasons for denial Application date Ethnicity, race and sex Disaggregation of ethnicity and race Explanation for 13 KEY points about data collection including loan applications that begin in 2017 but final action is taken on or after January 1, 2018. Who Should Attend This informative session is designed for lenders, personal bankers, loan assistants and processors, loan operations staff, compliance officers, fair lending officers, IT staff, and auditors. The Presenter Susan Costonis is a compliance consultant and trainer. She specializes in compliance management along with deposit and lending regulatory training. 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. Cannot Attend The Live Presentation? This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.
About Webcasts / Audio Conferences / Podcasts:	Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions. The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends! And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office. Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
About The Provider:	Your Partner for Ensuring an Engaged, Compliant Workforce Financial institution regulations are constantly changing. That means preparing your team needs continual attention, including the frontlines, compliance team, executive leadership and board of directors. Wouldn’t life be easier if you had one place to go for all your compliance and professional education needs? You’ll find what you need from OnCourse Learning. We bring you: 40+ Years of Experience 600+ Engaging Online Courses 450+ Live & OnDemand Webinars Webinar Descriptions, BankWebinars.com: Live Session: Attend the live session with the opportunity to ask questions to the presenter. You also receive a link to the handouts. All registrations for a live event will be given access to the OnDemand recording, at no additional cost, for 30 days following the event. This will allow a flexible alternative when last-minute conflicts intrude on scheduled events. Live + OnDemand: Includes two of the options above. Live session and 365 days access to On-Demand weblink plus a link to handouts. Live + OnDemand & CD: Includes all three options above. Live Session, 365 days of OnDemand, and CD-ROM plus handout links.
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