Hmda: A Summary Of New Final Rules

Under the leadership of the Consumer Financial Protection Bureau the rules change significantly in 2017, 2018, and for large institutions again in 2020. There will be changes reducing the number of financial institutions must report, the types of loans subject to reporting, the data which will have to be reported, and the methods and IT reporting requirements. Under the leadership of the Consumer Financial Protection Bureau the rules change significantly in 2017, 2018, and for large institutions again in 2020. There will be changes reducing the number of financial institutions must report, the types of loans subject to reporting, the data which will have to be reported, and the methods and IT reporting requirements.

• Learn about the background behind the regulations and how that helps in understanding the New Rules
• Learn if your organization meets the new requirements for reporting, fewer will have to report in the future
• Learn the changes made in the types of loans which will be covered by reporting
• Know what changes in processes and IT will be required on what dates
• Know where to find authoritative detail.

• A brief introduction to HDMA, from the viewpoint of a former regulator.
• Key dates for HMDA changes
• Transactions which must be included in reports
• Data which will be reportable
• Processes for submission
• Information gathering and reporting
• References to other materials.

To understand what changes are being made in the HMDA program / Reg. C so as to be prepared to comply. These changes will occur over time so it is important to understand the key deadlines for each.

• Those working in mortgage underwriting and in HMDA compliance and reporting.

Jim George is an independent consultant to banks focusing on issues of fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance and Andersen Consulting (now Accenture). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry. 

Jim's work has included projects in fraud investigation, fraud prevention, identity issues, compliance and AML (anti-money laundering). His background includes work in bank operations and payments strategy, reengineering, systems and quality improvement.