HMDA - Navigating through the Requirements

The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1975 and was implemented by the Federal Reserve Board's Regulation C. On July 21, 2011, the rule-writing authority of Regulation C was transferred to the Consumer Financial Protection Bureau (CFPB). This regulation provides the public loan data that can be used to assist:

• In determining whether financial institutions are serving the housing needs of their communities
• Public officials in distributing public-sector investments so as to attract private investment to areas where it is needed
• And in identifying possible discriminatory lending patterns

This regulation applies to certain financial institutions, including banks, savings associations, credit unions, and other mortgage lending institutions. This webinar will offer insight into ensuring your institution is compliant with HMDA requirements and how to build a successful program.

• Define what HMDA is
• Identify operations and activities that have HMDA implications
• Tips and suggestions for an effective HMDA program
• How to effectively audit HMDA activities
• Maintaining HMDA compliance
   

• Overview of HMDA –What is it?
• Components of HMDA
• Outline of Effective HMDA Program
• Monitoring for HMDA
• Auditing HMDA activities
• Steps for ensuring HMDA Compliance
   

The increased scrutiny of examiners and regulators regarding HMDA requires financial institutions to increase their oversight efforts. Non-compliance with HMDA requirements increases risk exposure of financial institutions failing to protect consumers. As a result, financial institutions can experience negative implications affecting them both reputationally and financially. HMDA continues to provide valuable information regarding home lending, and it’s now more important than ever those financial institutions ensure they are implementing the appropriate tools to ensure they are compliant with HMDA rules and regulations.

• Compliance Officers
• Lending Officers
• Loan application processors for mortgages
• CRA Officers
• Compliance Auditors
   

Dr. Gina J. Lowdermilk, PhD (ABD), CAMS, CRMS is a qualified BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been on working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work with small community banks to large international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality. Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. Gina has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as per clients’ requests.