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Home Mortgage Disclosure Act (HMDA) Workshop

Join us on March 21, 2018 for an in-depth workshop focusing on the Home Mortgage Disclosure Act (HMDA) changes that you need to know. The workshop will be held at PCUA headquarters in Harrisburg.


Keeping Up With the Changes

The world of HMDA is changing in a dramatic fashion. On October 13, 2015 the Consumer Financial Protection Bureau (CFPB) published final rules to implement changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and changes from the CFPB that are intended to modernize and simplify the reporting requirements with the 2017 HMDA Final Rule published August 24, 2017. The final rules are generally effective on January 1, 2018, but changes begin with the 2017 HMDA data.

The final amendments to Regulation C modify the types of institutions and transactions subject to the regulation, the types of data that institutions are required to collect, and the processes for reporting and disclosing the required data.


Information on How to Complete the LAR

The reportable data, expanded from 23 to 48 data points, include:

  • Information about applicants, borrowers, and the underwriting process, such as age, credit score, debt-to-income ratio, and automated underwriting system results
  • Information about the property securing the loan, such as construction method, property value
  • Information about the features of the loan, such as additional pricing information, loan term, interest rate, introductory rate period, non-amortizing features, and the type of loan
  • Certain unique identifiers, such as a universal loan identifier, property address, loan originator identifier, and a legal entity identifier for the financial institution
  • Information regarding amendments related to the collection of ethnicity, race, and sex of applicants and borrowers. The final rule:
    • Requires financial institutions to report whether ethnicity, race, or sex information was collected on the basis of visual observation or surname when an application is taken in person and the applicant does not provide the information; and
    • Permits applicants and borrowers to self-identify using 15 new subcategories for transactions where ethnicity and race information is provided by the applicant or borrower
  • A review of the 2017 and 2018 Filing Instructions Guide (FIG)

  • When

  • Wednesday, March 21, 2018
    9:30 AM - 3:00 PM

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