I am about to train our Document Review department on HMDA. Is there anyone that has already created a HMDA "test your knowledge" test? I'm not quite sure if I'm going to use it to see where people stand before my training or after my training to see if they soaked in all the wonderful HMDA knowledge. If you have one (and don't mind sharing it) please let me know. Thank you very much!

I would suggest that you edit your post and remove your email address. Remember this is a public forum and that address is out there for all to see.

Check your Private Messages, I sent you a simple True/False Test.

Thank you, I was apparently not using common sense.

I don't have a quiz for you, but wanted to make sure you are familiar with BOL's HMDA Heaven Page:
http://www.bankersonline.com/hmda_page.html

There are tons of articles, tools, etc. to help you with HMDA.

Dan, would you mind sharing that with me as well?

Done!

Thank you, Dan! As always...It is appreciated!!!

Me too Dan! Please????

Me too Dan, please.

Uh oh. Maybe this is something you want to email to BOL and ask them to post to the HMDA Heaven page, rather than respond to 8000 "me too's". Or is it something you can cut and paste into a post here?

Wasn't going to post it beacause of the length but here it is. It's a very simple questionnaire and you may need to modify a couple of the questions with more detail for your specific institution's training. It's also 2 or 3 years old. For instance question #4 is a trick question. We don't report HELOCs so they should have chosen $0. Also the 0 beside the answer choices are suppose to be check boxes.

HMDA Questionnaire

1. We make a loan for $5,000 secured by an automobile. The purpose of the loan is home improvement and the loan’ is classified as an automobile loan. The loan is HMDA reportable.

0 True
0 False

2. We make a construction/permanent loan. As a construction/permanent loan the loan is HMDA reportable. We renew the construction phrase, is the renewal HMDA reportable?

0 Yes
0 No

3. The amount of the loan is $125,500. What is the correct way to report the loan amount?

0 $125.5
0 $125
0 $125,500
0 $126

4. We make a $15,000 Home Equity Line of Credit loan. $6,500 is for home improvement.
What amount is HMDA reportable?

0 $6.5
0 $6
0 $15
0 $0
0 $7

5. We make an unsecured home improvement loan. We later refinance the loan into another unsecured loan. How is the loan reported on the HMDA form?

0 It is not reported.
0 Home Improvement.
0 Refinance.

6. Business purpose loans are exempt from HMDA.

0 True
0 False

7. We pre-approve a purchase money mortgage loan for a borrower and the loan does not close. The pre-approval is not HMDA reportable.

0 True
0 False

8. Borrower owns his home mortgage free. He borrowers $30,000 to consolidate other debt. We secure the loan with his personal residence. The loan is HMDA reportable.

0 True
0 False

9. All loans for the purpose of Home Improvement, and are classified as Home Improvement loans are HMDA reportable regardless of the collateral.

0 True
0 False

10. We make a counter offer to an applicant for a HMDA reportable loan request. The applicant does not accept our counter offer. How is the loan reported?

0 As a denial
0 Withdrawn
0 Approved not accepted

11. A home purchase loan is secured by the value of stock. The loan is not HMDA reportable.

0 True
0 False

12. A home purchase loan is secured entirely by another 1-4 family dwelling. The census information is reported on the address of the home being purchased.

0 True
0 False

13. Loans secured by multi-family dwellings (5 or more units) are not HMDA reportable.

0 True
0 False

14. A loan to build an office building on the same property as the applicant’s current home, and the loan is secured by the equity in the applicant’s home is HMDA reportable.

0 True
0 False

15. HMDA is covered under what Federal regulation?

0 Reg. CC
0 Reg. Z
0 Reg. C
0 Reg. B

Dan, you are the best!

A thousand thanks.

What? No answers!

Thanks for passing on your quiz Dan.

Thanks Dan!!

Took the test and found it required some thought. Where are the answers?

Hmmm...I couldn't find the answer sheet...

Keep in mind these questions were written a few years ago and was designed to be answered just after a training session was held.

1. False
2. No
3. $126
4. $0 (we don't report HELOCs, if you do the answer would be $7)
5. It is not reported. (The refinancing of a non-dwelling secured HI loan does not meet the definition of a refinancing or a home improvement loan)
6. False (Purchasing or refinancing rental property is a business purpose yet they meet the HMDA definitions.)
7. True (Approved but not accepted pre-approvals are optional reporting. We don't report them.)
8. False
9. True
10. As a denial
11. True
12. False
13. False
14. True (The office building would be an improvement to the real property on which a dwelling is located and the loan is secured by a dwelling.)
15. Reg. C