The revised HMDA demographic data that becomes mandatory as of January 1, 2018 totally upends the Government Monitoring Information process the industry has been using for many years. More ethnicities, more races, the ability to report both male and female, all sorts of combinations…how do you make sure everyone understands what to do and how to report on the HMDA LAR?
A lot of data will be gathered and it is important to know what to do with it to report it properly.
This webinar will go through every aspect of the new demographic data, including:
- The new disclosure form
- The data the customer reports and how that is translated to the LAR
- Using the form before 2017
- Reporting in 2018 when data was obtained in 2017
- What to ask and when to ask
- The number of ethnicities and races an applicant can report versus how many are reported the LAR
- What to do if the applicant selects only subcategories with no major category
- How to report if the applicant selects both Hispanic or Latino and Not Hispanic or Latino
- Reporting when the applicant selects both male and female
- How to handle misspellings and smart answers
- Understanding face to face meetings and the effect on reporting - there are some changes
- What to do if electronic application is followed by a face to face meeting
- Age - it is not one of the questions asked so how do you report it
- How to analyze data for fair lending if the applicant only selected subcategories for race and ethnicity or chose Hispanic and Not Hispanic or Male and Female
Don't miss this webinar that will address every aspect of the revised demographic data, from gathering to reporting and analyzing. This can be mind boggling but this webinar will break it down so that it makes sense.
Attendees of this webinar will:
- Have a firm understanding of what is required and how to handle the data
- Gain confidence in HMDA reporting and eliminate confusion
- Avoid costly errors that cause resubmissions
Who Should Attend
Anyone who needs to understand the new HMDA demographic data gathering and reporting rules - Customer contact staff, Loan Officers, Compliance Officers, Auditors, Quality Assurance staff, Examiners, and lending and loan operations staff responsible for the HMDA LAR.