RC_RC_GO_304.1 HMDA Compliance Basics

1-5 CMB Points Advanced Certified Mortgage Compliance Professional (CMCP) Education Regulatory Compliance, Law, & Fraud Residential Self-Study Web-Based Courses
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Option Price
Member $50.00
Non-Member $100.00

Passed by Congress in 1975, the Home Mortgage Disclosure Act (HMDA) was established to provide financial regulators, the public, and other stakeholders with data about mortgage lending in the United States. Congress’s goal was that this data be used to inform decision-makers, residents, and other stakeholders in determining whether financial institutions were serving the housing needs of their communities, identifying possible discriminatory lending patterns, and distributing public-sector investments where needed to attract private investment to such areas. Having previously passed the Fair Housing Act in 1968, and the Equal Credit Opportunity Act (ECOA) in 1974, Congress had determined that change was necessary to alleviate discrimination and improve access to housing and credit finance. HMDA requires the collection of categories of data as a means of assessing the efficacy of anti-discrimination statutes for housing and housing finance.

The HMDA Compliance Basics course starts with an introduction to the rule, its history, and purpose. The course then discusses the specific loan data collected and reported, followed by rules and regulations around reporting. The final topic of this course discusses the importance of compliance, explains enforcement, and provides tips and resources to help lenders comply with HMDA.

This is a single-family/residential course.

  • Introducing HMDA
  • HMDA Loan Data
  • HMDA Reporting and Disclosures
  • HMDA Compliance

Seat time approximately 1.5 hours.

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