The CFPB’s new 2018 HMDA rules are now in effect, although both the OCC CFPB have announced that enforcement of the new rules will be delayed at least a year. What exactly does this mean? As well, the Dodd-Frank reform bill recently signed into law (S. 2155) makes some important changes to the rules, especially for small reporters. Will this have an impact on your reporting for 2018?
The new rules expand what types of loans are covered, and many more data elements are now to be collected. There are also some important changes to definitions and some new clarifications and exceptions, several of which are flying below the radar. As well, the submission and disclosure processes will change, to the new CFPB online method. What do the CFPB’s announcements mean? Short story is don’t change your processes just yet, but there are some things to keep in mind. As well, the existing HMDA data elements must still be collected and submitted properly. We’ll discuss the current state of HMDA in this session, as well as what to look forward to in the future, and get some of your questions answered.
Who Should Attend?
Loan officers, managers, and processors, compliance and fair lending officers, auditors, counsel, and anyone else with HMDA-related responsibilities, including data collection, reporting, analysis, and disclosure.
If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.