Please stand by, the presentation will begin shortly. Your phones have been muted. If you re using the speakers on your PC you don t need to call in.
|
|
- Victor Hardy
- 5 years ago
- Views:
Transcription
1 Please stand by, the presentation will begin shortly. Your phones have been muted. If you re using the speakers on your PC you don t need to call in. While you are waiting, you may download the presentation outline at: QuestSoft.com/HMDAWebinar
2 Please stand by, the presentation will begin at the top of the hour. Your phones have been muted. If you re using the speakers on your PC you don t need to call in. = While you are waiting, you may download the presentation outline at: QuestSoft.com/HMDAWebinar like us on YOU MAY ALSO or follow us on facebook.com/questsoft twitter.com/questsoft TO DOWNLOAD THE PRESENTATION
3 The CFPB and HMDA Changes Thank you for attending. The webinar has started.
4 Housekeeping Asking Questions Downloading Materials Technical Difficulties Go To Meeting Support Disclaimer facebook.com/questsoft twitter.com/questsoft
5 Reminders for QuestSoft Customers HMDA RELIEF Update Released Last Week - Contains mid-year FFIEC Edits - Enhances Ellie Mae/Calyx/D+H imports and adds a number of new features New Instant Geocoder Module - Quarterly update includes over 600,000 new addresses and repositionings - NEW! We now offer CDFI and Empowerment Zone information NMLS Mortgage Call Report (MCR) - NEW! Added Section II for import and reporting - Updated to NMLS MCR required Form Version 3
6 New CRA & Mapping Features CRA RELIEF updated with substantial new features - Contains mid-year FFIEC Edits - NEW! Integrated Mapping Module - One button request to convert loan and other CRA data into an Instant Map - NEW! Integrated Peer Data and Reports - 13 reports created instantly that compare your CRA performance to all peers in your assessment area(s).
7 One Last Thing Mortgage Tech Magazine Lenders Choice - Only TWO Days left to vote - Voting is for 3 best vendors (Gold is #1, Silver #2, Bronze #3)
8 Today s Presenters Warren W. Traiger Counsel BuckleySandler LLP Moderator Leonard Ryan President QuestSoft Corporation Scott Mortenson Marketing Director QuestSoft Corporation
9 The CFPB and HMDA Changes AGENDA - What s Being Proposed Now? - Rationale for the Changes - Impact on Fair Lending Compliance - Comparison of Data Fields to Today s HMDA - QuestSoft s Implementation Plans - Parts of the Rule You Can Still Influence - Need For Planning, Not For Panic - Questions & Answers
10 A Very Brief History of HMDA Enacted by Congress in 1975 in reaction to allegations by public officials and community advocates that lenders were redlining and disinvesting in urban communities. Applied only to larger banks (not bank subsidiaries or nonbank mortgage lenders), which reported the number and dollar amount of home improvement and residential mortgage loans by location. Government Monitoring Information (i.e., information on applicant race, ethnicity and sex) was not collected.
11 A Very Brief History of HMDA (con t) Key Amendments: Coverage expanded to mortgage banking subsidiaries of bank and savings and loan holding companies and to savings and loan service corporations that originate or purchase mortgage loans Coverage expanded to non-bank mortgage lenders and disclosure of applicant race, gender, and income is required on an application-by-application basis Federal Reserve Board requires reporting of pricing information for higher-priced mortgage loans and identification of loans subject to HOEPA and required lenders to ask applicants for their ethnicity, race, and sex in telephone applications
12 A Very Brief History of HMDA (con t) Key Amendments: The Dodd-Frank Wall Street Reform and Consumer Protection Act is enacted in response to the mortgage market crisis. The Dodd-Frank Act moved HMDA rulemaking responsibility from the Fed to the CFPB and directed the CFPB to expand the HMDA dataset to include additional information that would be helpful to better understand whether lenders are serving the housing needs of their communities and to identify possible discriminatory lending patterns. Dodd-Frank specified new data points for collection and provided the Bureau with broad authority to require the collection of other data points and to change the format and submission requirements for HMDA reporting.
13 What s Being Proposed Now? Expanded product coverage and new data fields: The proposal would expand HMDA coverage to mandate the reporting of open-end lines of credit, home-equity loans, reverse mortgages, and preapproval requests that were approved, but not accepted. Together with additional data fields, such as amortization type, prepayment penalty, and occupancy type, the CFPB believes this information would improve understanding of the types of products received by consumers, specifically that: the additional transactions and data points would improve current research efforts to understand mortgage markets. This research may identify new risk factors that might increase systemic risk to the overall economy.
14 What s Being Proposed Now? (con t) Key new collection and reporting requirements: Applicant Age This will allow sorting of data by applicant age, as well as race, ethnicity and sex Property Value Used with loan amount, this will allow calculations of the loanto-value ratio (LTV), which measures a borrower s equity in the property and is a key underwriting and pricing factor Credit Score Allows for a more refined analysis and understanding of disparities in both underwriting and pricing outcomes
15 What s Being Proposed Now? (con t) Key new collection and reporting requirements: Loan Term Helps determine the amount of principal due with each payment, which significantly influences both the borrower s ability to afford the loan and the amount of interest the borrower will pay over the life of the loan Total Points and Fees Enables deeper insight into the terms on which different communities are offered loans Interest Rate and the Duration of Teaser or Introductory Rates Interest rate variability can be an important feature in long-term affordability for borrowers
16 Rationale for the Changes To improve the usefulness of HMDA data in identifying possible discriminatory lending patterns and enforcing antidiscrimination statutes: The addition of pricing data fields such as interest rate, discount points, and origination charges improves understanding of disparities in pricing outcomes beyond that permitted by the current rate spread data field. Overall, the proposed changes make fair lending analyses more comprehensive and accurate. This is especially important for the prioritization and peer analysis or redlining reviews that regulatory agencies conduct for fair lending supervision and enforcement purposes because a consistent and clean dataset will be available for all financial institutions.
17 Impact on Fair Lending Compliance (con t) The data to be reported under the CFPB's proposal is likely to inflame the current fair lending regulatory environment. Proposal allows regulators to analyze mortgage lending practices by applicants' age as well as by race, ethnicity and sex. Information that is currently proprietary, like applicants' credit scores and debt-to-income ratios and loan fees and interest rates, will now be shared annually with the CFPB and other regulators. Regulators will no longer need to wait until examination time to assess a lender s compliance with the anti-discrimination laws, since they will have annual access to a panoply of sensitive data from almost every mortgage lender. Agencies will be able to routinely crunch and compare data from across the industry and in any geographic area.
18 Impact on Fair Lending Compliance (con t) It may be only a matter of time until the enhanced data becomes public, facilitating analyses by the media and advocacy groups. The CFPB has delayed consideration of what data should be released, but its proposal states that public HMDA data [should] be modified only when the release of the unmodified data creates risks to applicant and borrower privacy interests that are not justified by the benefits of such release to the public. In other words, protecting the privacy of mortgage applicants will be the only limit on how the data is released.
19 The Tech Side of CFPB HMDA The CFPB is Proposing 39 New Fields - Borrower Data - Loan & Fee Data - Underwriting Supplement Data - Other noticeable additions - HELOCS/Reverse Mortgages are required reporting - Denial Reason required - Rate Spread reported on all loans and amounts below spread reported
20 The Tech Side of CFPB HMDA The CFPB s 39 New Fields Age - Borrower Age - Co-Applicant Application Channel - Initially Payable Application Channel -Direct Application Application Loan # (Universal Loan Identifier) APR Automated Underwriting System used Automated Underwriting System recommendation Balloon Payment (months) CLTV Construction Method Credit Score 1 Credit Score 2 Credit Score Provider 1 Credit Score Provider 2 DTI Ratio HELOC /Open End Reverse Mortgage First Draw HELOC Flag Initial Adjustment Period (mo.) Interest Only Payments Interest Rate - Risk Adjusted, Pre Discount
21 The Tech Side of CFPB HMDA The CFPB s 39 New Fields Manufactured Home Land Property Interest Manufactured Home Legal Classification Multifamily Affordable Units Negative Amortization NMLS Branch ID** - (part of ULI) NMLS Rep ID - Primary Other Non-Amortizing Features Points and Fees $ Prepayment Penalty (mo.) Property Address Property City Property State Property Value (sales or appraised value) Property Zip Qualified Mortgage (QM) Flag Reverse Mortgage Flag Total Discount Points ($) Total Origination Charges Total Units
22 Good News for QS Customers QuestSoft Already has 22 Fields Today - Only 18 fields to add (half are true/false fields) Application Channel - Initially Payable Application Channel -Direct Application Automated Underwriting System Automated Underwriting System Recommendation Balloon Payment Construction Method HELOC /Open End Reverse Mort First Draw HELOC Flag Interest Only Payments Interest Rate - Risk Adjusted, Pre Discount Manufactured Home Land Property Interest Manufactured Home Legal Classification Multifamily Affordable Units Negative Amortization Other Non-Amortizing Features Qualified Mortgage (QM) Flag Reverse Mortgage Flag Total Units
23 QuestSoft Implementation Plans Concentrate our Customers Attention to Preliminary Rule Deadline ( ) Begin Design for Including Fields in QuestSoft products NOW! Wait Until Final Rule to Finalize Specifications for our LOS Partners Match HMDA to RESPA/TILA as close as possible to reduce overlap After October 22, concentrate on LOS with RESPA/TILA & HMDA
24 What CFPB CANNOT Change Required Elements (Section 1094) Total Points and Fees Payable at Origination Rate Spreads applied to ALL Loans (currently only those subject to Reg Z) Prepayment Penalty Months Property Value (appraised value) First Adjustment Term in months to first interest adjustment Identification of ANY loan not fully amortized Loan Term (in months) Lending Channel (Retail, Wholesale, Correspondent) Credit Score in a form to be determined by CFPB Any other information the CFPB may require
25 What CFPB Will Not Change Optional Elements (Section 1094) Unique Identifier of Loan Originator (NMLS LO ID) Universal Loan Identifier (ULI) to track loan throughout process starts with Legal Entity Identifier (LEI) Detailed Borrower Information (Credit Scores, Age, DTI) Detailed Loan Information (AUS Decision, LTV, CLTV, HELOC, IO, QM, Fees) Any other information the CFPB may require
26 Where To Focus Comments Parcel Number This one is very controversial huge privacy issues CFPB proposing to use it and make it public but acting like they are open either way. Property Address, City, State, Zip Being marketed as a possible path to free geocoding but plans are to distribute to education and community groups Quarterly Reporting The CFPB picked 75,000 LAR and cumulative. Is it the right number? Reporting Minimums at 25 Loans Per Year QuestSoft feels this should be set at 100 or at least 50. This affects community banks, small credit unions and non-depository private money lenders
27 Where To Focus Comments (con t) Credit Score Provider and AUS Reporting Both has a specific list that will financially benefit those providers. Are there additional vendors that need to be added? Definition of Application QuestSoft will be encouraging the use of the new RESPA/TILA standard with six data elements so it can be easily programmed by the industry. Data Elements to Include in Public LAR CFPB proposing to use today s limited disclosure to start (good news). However, the commentary points to expanding the information as quickly as possible. Reading between the lines this means diffuse the lending industry and privacy advocates concerns today to get this implemented and then after the furor dies down gradually make everything public as originally intended.
28 Where To Focus Comments (con t) Loan Types Excluded From HMDA Reporting Every loan that attaches a lien to a property is to be reported EXCEPT THESE under the new HMDA. Do you want to make the case for any adjustments to the list? Loans originated or purchased in a fiduciary capacity (i.e. received from FDIC closing a bank) Unimproved Land Temporary Financing The purchase of an interest in a pool of loans Purchasing of Servicing Rights only Loans purchased as part of a Mergers or Acquisition Loans Under $500, Purchase of a Partial Interest, or agriculture loans
29 WARNING: Instant Fair Lending! Everything is pointing to highly automated FAIR LENDING The analysis will be created within minutes - Data Accuracy and Integrity MUST be elevated There will be no second chance with the media and community groups - You might convince a regulator on mistakes - Community groups will publish on front page your first results Corrections will be in a little box on an inside page
30 There is Still Good News Today Don t Panic! You Have Time To Adjust The new CFPB HMDA will not take effect until either January 1, 2016 or January 1, Use this time to evaluate and adjust your operation s training and policies if needed. You Still Have A Voice. Make it Heard NOW! Take advantage that these are preliminary rules and actively participate in comments. You don t need a formal letter any more. You can electronically submit your comments. But you have nothing to fight about after Don t Worry More About HMDA If your company is doing a good job, this doesn t change anything. If your company is doing a lousy job, you need to clean it up under today s rules anyway. We have RESPA/TILA to really worry about next. Place it all in the proper perspective.
31 The CFPB and HMDA Changes QUESTIONS & ANSWERS If you have a question, please submit it using the questions tab on the GoToWebinar tool bar.
32 The CFPB and HMDA Changes QuestSoft will be reviewing the questions received during this webinar and working with our presenters to create a Q&A document for all attendees. We expect to be able to deliver that to you within the next 10 business days. This concludes the webinar presentation. Thank you for attending! You may download the presentation outline at: QuestSoft.com/HMDAWebinar
The New CFPB HMDA Rules
The New CFPB HMDA Rules What You Need to Know Thank you for attending. The webinar has started. Today s Panelists Kathleen Ryan Counsel BuckleySandler LLP Leonard Ryan President QuestSoft Corporation Moderator
More informationS.2155 Implementation The Latest HMDA Changes
S.2155 Implementation The Latest HMDA Changes The webinar will begin at the top of the hour. You may download the presentation at: www.questsoft.com/hmdachanges S.2155 Implementation The Latest HMDA Changes
More informationConsumer Financial Protection Bureau. March 15, Draft, Sensitive and Pre-Decisional Not for External Distribution
Consumer Financial Protection Bureau March 15, 2016 Draft, Sensitive and Pre-Decisional Not for External Distribution Outline Home Mortgage Disclosure Act 1) Background 2) Rule Making 3) Changes Coming
More informationManaging Fair and Responsible Lending Challenges and Risks
Managing Fair and Responsible Lending Challenges and Risks NYBA Technology, Compliance and Risk Management Forum White Plains, NY May 13, 2015 Legal Counsel to the Financial Services Industry Presented
More informationThe New CFPB HMDA Rules What You Need to Know
The presentation will begin shortly. Your phones have been muted. If you re using the speakers on your PC, you don t need to call in. While you are waiting, you may download the presentation online at:
More informationHMDA / Regulation C Amendments New 1003 Application
HMDA / Regulation C Amendments New 1003 Application January 2017 1Nations Direct Mortgage, LLC Mission Statement - To lead the third party residential mortgage industry by providing products and services
More informationImplications and Risks of New HMDA Data Disclosure
Implications and Risks of New HMDA Data Disclosure By David Skanderson, Ph.D. January 2018 A version of this paper appeared in ABA Bank Compliance, January/February 2018 The conclusions set forth herein
More informationMBBA-NH & MAMP. Compliance Conference. April 19, 2017
MBBA-NH & MAMP Compliance Conference April 19, 2017 Agenda HMDA Overview Readiness Steps HMDA Expansion Fields 2 New HMDA Rule Summary Changes to Home Mortgage Disclosure: Regulation C Types of institutions
More informationRevised HMDA Reporting Overview, Implementation and Planning March 2017
Revised HMDA Reporting Overview, Implementation and Planning March 2017 Kathy Keller, Managing Director, Regulatory Compliance, Newbold Advisors, LLC NewboldAdvisors.com Agenda Overview of the New HMDA
More informationHMDA 2018 IMPLEMENTATION PLANNING. HMDA Process Inventory
Affected Products Application Methods (Face to face (online, paper), Mail, Online, Telephone, Fax HMDA Process Inventory Demographic Data Gathering Methods LAR Software Used or Manual LAR Preparation Responsible
More informationSue Quilty, Quilty & Associates (781)
Sue Quilty, Quilty & Associates susan.quilty@verizon.net (781)706-9235 Agenda HMDA Today: Review HMDA in the Future: Proposed Changes Surviving HMDA Reporting 2 HMDA Review HMDA Overview Why is HMDA Important
More informationHMDA Filing Update. The webinar will begin at the top of the hour. You may download the presentation at:
HMDA Filing Update The webinar will begin at the top of the hour. ou may download the presentation at: www.questsoft.com/hmdaupdate HMDA Filing Update Thank you for attending. The webinar has started.
More informationQ: Any discussion regarding tolerance violations with all the new additional fields?
Q & A The following are questions posed by attendees at the August 19, 2014 QuestSoft webinar that addressed the new HMDA proposal from the CFPB, and the answers from Leonard Ryan of QuestSoft. DISCLAIMER:
More informationHome Mortgage Disclosure Act 2017, 2018, and Beyond. Presented by Marissa Blundell Bankers Advisory A CliftonLarsonAllen LLP Division
Home Mortgage Disclosure Act 2017, 2018, and Beyond Presented by Marissa Blundell Bankers Advisory A CliftonLarsonAllen LLP Division Home Mortgage Disclosure Act (HMDA) Consumer Financial Protection Bureau
More informationICBA Summary of the Home Mortgage Disclosure Act (HMDA) Revisions to Regulation C
ICBA Summary of the Home Mortgage Disclosure Act (HMDA) Revisions to Regulation C June 2017 INSERT YEAR HERE Contact Information: Rhonda Thomas-Whitley Assistant Vice President & Regulatory Counsel Rhonda.Thomas-Whitley@icba.org
More informationFair Lending Risks and HMDA
Fair Lending Risks and HMDA Kathleen O. Blanchard Key Compliance Services, LLC October 8, 2018 1 Topics HMDA History Partial Exemptions Privacy of HMDA Data Fair Lending Concerns 2 HMDA History 3 HMDA
More informationWhat do HMDA Rule Changes Mean for Covered Institutions?
What do HMDA Rule Changes Mean for Covered Institutions? Tips to prepare for regulatory and institutional change Paula Witt, Director, Consumer Finance & Fair Banking Elizabeth Rozsa, Manager, Consumer
More informationHMDA Update Nov. 13, Nov. 13, 2018 HMDA Update 1. Our Agenda Today
HMDA Update Panel Discussion: Ongoing Challenges & Solutions Nov. 13, 2018 HMDA Update 1 Our Agenda Today HMDA Partial Exemption Common Data Collection Exceptions Panel Discussion The future of HMDA Nov.
More informationNMLS Mortgage Call Report Training and Regulatory Updates for
NMLS Mortgage Call Report Training and Regulatory Updates for 2014-2016 Please stand by, the presentation will begin shortly. Your phones have been muted. If you re using the speakers on your PC you don
More informationNMLS Mortgage Call Report (NMLS MCR) Training and Regulatory Updates for
NMLS Mortgage Call Report Training and Regulatory Updates for 2014-2016 Please stand by, the presentation will begin shortly. Your phones have been muted. If you re using the speakers on your PC you don
More informationHome Mortgage Disclosure (Regulation C)
October 2017 OMB Control No. 3170-0008 Home Mortgage Disclosure (Regulation C) Small Entity Compliance Guide Version Log The Bureau updates this guide on a periodic basis. Below is a version log noting
More informationCovered loans or applications if the property is
Application Date 1003.4(a)(1)(ii) Property Address State County Census Tract Covered loans or applications if the property address of the property securing the covered loan is not known (e.g., the property
More informationHMDA: Haven or Havoc. Michigan Bankers Association. Compliance Services 2016 Temenos USA. All rights reserved.
HMDA: Haven or Havoc Michigan Bankers Association 1 2016 Temenos USA. All rights reserved. About the Speaker Rachelle Dekker CRCM Rachelle Dekker is a Senior Compliance Advisor with the Temenos Compliance
More informationExecutive Summary of the 2018 HMDA Interpretive and Procedural Rule
Bureau of Consumer Financial Protection 1700 G Street NW Washington, D.C. 20552 August 31, 2018 Executive Summary of the 2018 HMDA Interpretive and Procedural Rule On August 31, 2018, the Bureau of Consumer
More informationFacing Today s Real Estate Regulations
Proudly Sponsored by Facing Today s Real Estate Regulations Presented by Don Braspenninckx Day, June 11, 2016 1:30 p.m. 1 Introduction Numerous regulatory changes in the real estate industry within last
More informationPresentation Topics. Changing Data Requirements Will Effect. Census data update and implications for CRA, HMDA and Fair Lending
Changing Data Requirements Will Effect the CRA and Fair Lending Environment Prepared for the 2012 National Community Reinvestment Conference by Glenn Canner March 28, 2012 The views expressed are those
More informationCompliance Policy 2003-ALL
Overview The following policy describes how CMG Mortgage, Inc., dba CMG Financial, NMLS #1820, ( CMG ) complies with the Home Mortgage Disclosure Act (HMDA) and its implementing regulation, Regulation
More informationPartial Exemptions from the Requirements of the Home Mortgage Disclosure Act under
BILLING CODE: 4810-AM-P BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Part 1003 RIN 3170-AA81 Partial Exemptions from the Requirements of the Home Mortgage Disclosure Act under the Economic Growth, Regulatory
More informationMake Compliance Relaxing
CRA Mistakes & Misunderstandings Make Compliance Relaxing Sit back, relax. The webinar will begin at the top of the hour. While you are waiting, you may download the presentation outline at: QuestSoft.com/CRA-Mistakes
More informationMake Compliance Relaxing
Make Compliance Relaxing Sit back, relax. The webinar will begin at the top of the hour. CRA Mistakes & Misunderstandings While you are waiting, you may download the presentation outline at: QuestSoft.com/CRA
More informationComment Call (14-15) CFPB Home Mortgage Disclosure Act (HMDA)
Comment Call (14-15) CFPB Home Mortgage Disclosure Act (HMDA) Impact: Federal and State Chartered Credit Unions Relevant Department: CEO / Lending Priority Level: High Background / Credit Union Summary
More informationCFPB Consumer Laws and Regulations
Consumer Laws and Regulations Home Mortgage Disclosure Act 1 The Home Mortgage Disclosure Act () was enacted by the Congress in 1975 and is implemented by Regulation C (12 CFR Part 1003). 2 The period
More information1) The credit union's assets total more than $44 million as of December 31, 2017,
Exemption: This regulation only applies if the following criteria are met: 1) The credit union's assets total more than $44 million as of December 31, 2017, 2) The credit union has a home or branch office
More informationMake Compliance Relaxing
Make Compliance Relaxing Sit back, relax. The webinar will begin at the top of the hour. While you are waiting, you may download the presentation outline at: QuestSoft.com/TRID-Webinar Please stand by.
More informationFREQUENTLY ASKED QUESTIONS ABOUT THE NEW HMDA DATA. General Background
Federal Reserve Bank of New York Statistics Function March 31, 2005 FREQUENTLY ASKED QUESTIONS ABOUT THE NEW HMDA DATA General Background 1. What is the Home Mortgage Disclosure Act (HMDA)? HMDA, enacted
More informationWhy CRA Data and Analysis is More Important Than Ever
Why CRA Data and Analysis is More Important Than Ever The webinar will begin at the top of the hour. You may download the presentation at: www.questsoft.com/cradata Why CRA Data and Analysis is More Important
More informationSummary of Reportable HMDA Data Regulatory Reference Chart a
Summary of Reportable HMDA Data Regulatory Reference Chart a This chart is intended to be used as a reference tool for data points required to be collected, recorded, and reported under Regulation C, as
More informationFHA TOTAL Scorecard Solutions. = QuestSoft.com/FHA Webinar. QuestSoft FHA Webinar 1/20/
Please stand by. The presentation will begin at the top of the hour. Your phones have been muted. If you re using the speakers on your PC you don t need to call in. While you are waiting, you may download
More informationPlease stand by. The presentation will begin at the top of the hour.
Please stand by. The presentation will begin at the top of the hour. Your phones have been muted. If you re using the speakers on your PC you don t need to call in. While you are waiting, you may download
More informationHMDA Insights : Capitalizing on New Perspectives HMDA Adoption Costs: Did You Say $2 Billion?
Summary: Two adjustments to ensure consistency and comparability with estimated annual HMDA compliance costs increase the CFPB s estimated one-time HMDA adoption costs from $1.34 Billion to $2.12 Billion,
More informationLoan Growth and Compliance Pitfalls
Loan Growth and Compliance Pitfalls presented by LOANLINER Compliance Information provided in this presentation, including all materials, should not be construed as legal services, legal advice, or in
More informationHMDA Regulations and New 1003 Application - Part 2
HMDA Regulations and New 1003 Application - Part 2 Broker / Correspondent Training May 10 & 12, 2017 1Nations Direct Mortgage Agenda Overview of New Regulations New and Modified HMDA Data Fields Detail
More information2018 HMDA Implementation. Presented By: Karen Ruckle, Director of Compliance Bank of the Ozarks
2018 HMDA Implementation Presented By: Karen Ruckle, Director of Compliance Bank of the Ozarks 2018 HMDA Loan Volume Test # Loans #Loans #Loans Home Purchase Or Refi (Dwelling Secured) in prior calendar
More informationWhat s New in Mortgage Lending Compliance?
What s New in Mortgage Lending Compliance? Michael R. Christians Senior Federal Compliance Counsel Credit Union National Association Copyright 2016 by Credit Union National Association. All rights reserved.
More informationMake Compliance Relaxing
Understanding Community Development Make Compliance Relaxing Sit back, relax. The webinar will begin at the top of the hour. While you are waiting, you may download the presentation outline at: QuestSoft.com/CD-webinar
More informationWhy CRA Data and Analysis is More Important Than Ever
Why CRA Data and Analysis is More Important Than Ever The webinar will begin at the top of the hour. You may download the presentation at: www.questsoft.com/cradata Why CRA Data and Analysis is More Important
More informationCFPB Home Mortgage Disclosure Act (HMDA) Final Rule. Webinar August 4, 2016
CFPB Home Mortgage Disclosure Act (HMDA) Final Rule Webinar August 4, 2016 Topics Regulation C, the Bureau s HMDA rule 1. Overview of the final rule 2. Institutional coverage 3. Transactional coverage
More informationHMDA Workshop Part IV: Fair Lending & HMDA
HMDA Workshop Part IV: Fair Lending & HMDA Sunday, Sept. 18, 2016, 4:45 pm Moderator: Richard H. Harvey, Jr., Chief Compliance Officer, Colonial Savings, F.A. Panelists: Melanie Brody, Partner, Mayer Brown
More informationCFPB HMDA Webinar Q&A May 24 and June 2, 2016 Sessions
CFPB HMDA Webinar Q&A May 24 and June 2, 2016 Sessions DISCLAIMER: The following questions are from our webinars of May 24, 2016 and June 2, 2016 featuring Kathleen Ryan from the law firm BuckleySandler
More informationMORTGAGE REFORM UNDER THE DODD FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT
MORTGAGE REFORM UNDER THE DODD FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT KENNETH BENTON SENIOR CONSUMER REGULATIONS SPECIALIST FEDERAL RESERVE BANK OF PHILADELPHIA MAY 10, 2012 Disclaimer: the
More informationRegulatory Change Management
Regulatory Change Management Adapting to Evolving Laws and Regulations Allison Wirth, Director Center of Regulatory Intelligence Kevin Cochran, Assistant Director Center of Regulatory Intelligence May
More informationTable of Contents. Sample
TABLE OF CONTENTS... 1 CHAPTER 1 INTRODUCTION... 3 1.1 GOALS AND OBJECTIVES... 3 1.2 REQUIRED REVIEW... 3 1.3 APPLICABILITY... 3 CHAPTER 2 ACCOUNTABILITY AND MONITORING... 4 2.1 INTERNAL CONTROLS... 4
More informationSUMMARY: The Bureau of Consumer Financial Protection (Bureau) is amending Regulation
BILLING CODE: 4810-AM-P BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Part 1003 [Docket Nos. CFPB 2017 0010; CFPB 2017 0021] RIN 3170 AA64; 3170 AA76 Home Mortgage Disclosure (Regulation C), Final Rule
More information2016 Interagency Fair Lending Hot Topics
2016 Interagency Fair Lending Hot Topics Outlook Live Webinar October 4, 2016 Visit us at www.consumercomplianceoutlook.org Welcome to Outlook Live Logistics Call-in number: 1-888-625-5230 Conference code:
More information2018 Interagency Fair Lending Hot Topics
2018 Interagency Fair Lending Hot Topics Outlook Live Webinar December 3, 2018 Visit us at www.consumercomplianceoutlook.org Visit us at www.consumercomplianceoutlook.org Welcome to Outlook Live Logistics
More informationMajor Changes Looming for HMDA Reporting
Major Changes Looming for HMDA Reporting CLIENT ALERT September 25, 2017 Scott D. Samlin samlins@pepperlaw.com Mark T. Dabertin dabertinm@pepperlaw.com In this article, we review the requirements of the
More informationHMDA: Haven or Havoc. Cindy Prince, Presenter December 5, 6 & 7, 2017 Assisted by Rachelle Dekker and Matt Goble
HMDA: Haven or Havoc Cindy Prince, Presenter December 5, 6 & 7, 2017 Assisted by Rachelle Dekker and Matt Goble Agenda Day One 1. Effective dates 2. Overview of reporting requirements Annual expectations
More informationHMDA INPUT AND REQUIREMENTS. Updated: 3/16/2017, S. Noble
HMDA INPUT AND REQUIREMENTS Updated: 3/16/2017, S. Noble 1 What is HMDA?? The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1975 and was implemented by the Federal Reserve Board s Regulation
More informationHMDA FACT SHEET YOUR MAP TO REGULATORY CHANGE
FACILITATE THOUGHT ENGAGE DIALOGUE ENCOURAGE SMART RISK CULTIVATE A NETWORK BUILD KNOWLEDGE HMDA FACT SHEET YOUR MAP TO REGULATORY CHANGE Regulation C implements the Home Mortgage Disclosure Act (HMDA),
More informationHome Mortgage Disclosure Act; Regulation C; Official Staff Interpretations; HMDA FAQs
Home Mortgage Disclosure Act UNITED STATES CODE TITLE 12. BANKS AND BANKING CHAPTER 29--HOME MORTGAGE DISCLOSURE 1/2/2011 7:35:47 PM WKFS CompliSource January 2011 Page: 1 1/2/2011 7:35:47 PM HMDA 12 USC
More information6/21/2013. Section I. Purpose of Course. History and Overview of Mortgage Law, Regulation and Requirements
20 Hour Mortgage Loan Originator Certification Course Purpose of Course Gain historical perspective of mortgage lending Understand contemporary mortgage loan origination process Examine federal rules,
More informationAbility to Repay and Qualified Mortgage Rules
Ability to Repay and Qualified Mortgage Rules John Zasada CLAconnect.com Housekeeping If you are experiencing technical difficulties, please dial: 800-263-6317. No Q&A session will be held at the end of
More informationHMDA LET S GET IT RIGHT!
HMDA LET S GET IT RIGHT! Home Mortgage Disclosure Act December 19, 2017 Joan Crenshaw, CRCM, CAFP Director jcrenshaw@bkd.com 1 TO RECEIVE CPE CREDIT Participate in entire webinar Answer polls when they
More information2017 Interagency Fair Lending Hot Topics
2017 Interagency Fair Lending Hot Topics Outlook Live Webinar November 16, 2017 Visit us at www.consumercomplianceoutlook.org Visit us at www.consumercomplianceoutlook.org 1 Welcome to Outlook Live Logistics
More informationWith so much change, be sure to stay up to date!
With so much change, be sure to stay up to date! Glory LeDu Glory.LeDu@mcul.org Sarah Stevenson Sarah.Stevenson@mcul.org Barb Boyd Barb.Boyd@cusolutionsgroup.com Your Crazy Compliance Peeps Agenda What
More informationV. Lending HMDA. Home Mortgage Disclosure Act 1 V-9.1. Introduction. Applicability
Home Mortgage Disclosure Act 1 Introduction The Home Mortgage Disclosure Act (HMDA) was enacted by the Congress in 1975 and is implemented by the Federal Reserve Board s (FRB s) Regulation C, Home Mortgage
More informationMortgage Quality and Compliance Webinar September 24, 2015
Mortgage Quality and Compliance Webinar September 24, 2015 You have entered the call on mute. If you have a question for Susan or California MBA, please direct a question to her only by typing it into
More informationS & HMDA: Complying with New Partial Exemptions. Brought to you by: ABA & BCFP
S. 2155 & HMDA: Complying with New Partial Exemptions Brought to you by: ABA & BCFP Welcome Rob Rowe Vice President Center for Regulatory Compliance American Bankers Association Our Agenda for Today Background
More informationRegulatory Change Management
Regulatory Change Management Adapting to Evolving Laws and Regulations Peter Dugas, Managing Director Allison Wirth, Director April 11, 2017 Agenda 12345 CHANGING REGULATORY AND ENFORCEMENT CLIMATE EFFECTIVE
More informationMortgage Reform Under the Dodd-Frank Act
Mortgage Reform Under the Dodd-Frank Act Kenneth Benton Senior Consumer Regulations Specialist September 20, 2013 FEDERAL RESERVE BANK OF PHILADELPHIA DISCLAIMER: The views expressed are the presenters
More informationQualified Mortgages and Qualified Residential Mortgages under the Dodd-Frank Act
Qualified Mortgages and Qualified Residential Mortgages under the Dodd-Frank Act Kenneth Benton Senior Consumer Regulations Specialist Greg Bell Banking Supervisor Consumer Compliance Risk Team FEDERAL
More informationProcedures for Denying Loans at the Branch Level (Updated )
Procedures for Denying Loans at the Branch Level (Updated 2-22-2018) Applies to Loans in the Active Pipeline as well as Loans in the Pre-Approval Pipeline -----------------------------------------------------------------------------------------------
More informationFair Lending 2012 Significant Risk Management Agenda Items
June 4, 2012 Fair Lending 2012 Significant Risk Management Agenda Items by Joseph T. Lynyak III In the first few months of 2012, lenders were cautiously optimistic that a recent Supreme Court case and
More informationSUMMARY: The Bureau of Consumer Financial Protection (Bureau) is issuing final policy
BILLING CODE: 4810-AM-P BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB-2017-0025] Disclosure of Loan-Level HMDA Data AGENCY: Bureau of Consumer Financial Protection. ACTION: Final policy guidance.
More informationThe Ever Changing Landscape of Mortgage Lending. HMDA & The New URLA
The Ever Changing Landscape of Mortgage Lending HMDA & The New URLA Casey Reynolds Quality Response Manager, Pulte Mortgage, LLC Josh Weinberg EVP Compliance, First Choice Loan Services Inc. Jerra H. Ryan,
More informationFair Lending Issues and Hot Topics
Fair Lending Issues and Hot Topics Outlook Live Webinar November 2, 2011 Non-Discrimination Working Group of the Financial Fraud Enforcement Task Force Visit us at www.consumercomplianceoutlook.org informational
More informationNotice. Conducting a Fair Lending Self Assessment Britt Faircloth, CRCM 4/2/2018. April 2018 Florida Bankers Association
Conducting a Fair Lending Self Assessment Britt Faircloth, CRCM April 2018 Florida Bankers Association Notice The information presented in this seminar summarizes general guidance and is intended only
More informationMake Compliance Relaxing
Make Compliance Relaxing Sit back, relax. The webinar will begin, at the top of the hour. Loan Estimates & Eliminating SSPL Fee Cures While you are waiting, you may download the presentation outline at:
More informationMortgage Regulation Update
Presented by: Mortgage Regulation Update Wisconsin Credit Union League Convention 1 Objectives At the end of this session, you will: Recognize recent updates to existing mortgage rules TILA/RESPA Integrated
More informationFiling instructions guide for HMDA data collected in 2018
September 2018 Filing instructions guide for HMDA data collected in 2018 OMB Control #3170-0008 Version log The following is a version log that tracks the history of this document and its updates: Date
More informationCONSUMER COMPLIANCE UPDATE. David Wright, Field Supervisor
CONSUMER COMPLIANCE UPDATE David Wright, Field Supervisor AGENDA Introduction Consumer Harm Making compliance examinations more effective and efficient Compliance Emerging Issues Updated FFIEC Compliance
More informationHMDA 2018 (Correspondent)
HMDA 2018 (Correspondent) Legal Disclaimer The materials and information provided during this presentation is limited to the discussion of PRMG s policies with respect to the amended Home Mortgage Disclosure
More informationJuly 31, :30PM to 2:30PM CDT. Fair Lending: Can You Make Exceptions?
July 31, 2018 1:30PM to 2:30PM CDT Fair Lending: Can You Make Exceptions? Options to Join Webinar and audio Click on the link: Fair Lending Webcast Connect to audio Call Using Computer (preferred method):
More informationPresented by: David Luna, CMP
Presented by: David Luna, CMP Industry Veteran over 30 years Past Regional Manager for a California Bank Past Vice-President for a Federal Credit Union Past Regulator American Association of Residential
More informationCFPB FINAL RULES SUN WEST IMPLEMENTATION GUIDE
CFPB FINAL RULES SUN WEST IMPLEMENTATION GUIDE January 1, 2018 In case of any queries regarding the information available in this guide, please reach us at qmteam@swmc.com. Sun West Mortgage Company, Inc.
More informationTHIS IS NOT LEGAL ADVICE
I. Ability to Repay (ATR) Qualified Mortgage (QM) Overview In 2008 the Board of Governors of the Federal Reserve System adopted a rule under the Truth in Lending Act prohibiting creditors from making higher-priced
More informationS DODD-FRANK ACT REVISIONS REGULATORY RELIEF
July 27, 2018 Vol. XXXV, No. 16 S. 2155 DODD-FRANK ACT REVISIONS REGULATORY RELIEF I. INTRODUCTION President Trump recently signed Senate Bill 2155, the Economic Growth, Regulatory Relief and Consumer
More informationWashington Bankers Association S.2155: Regulatory Reform Leah M. Hamilton, JD -1-
Washington Bankers Association S.2155: Regulatory Reform 2018 Leah M. Hamilton, JD 2- What You Will Learn Summary of key impacts of S.2155 Title I Improving Consumer Access to Mortgage Credit Title II
More informationConsumer Regulatory Changes
Consumer Regulatory Changes Federal Reserve Board Division of Consumer and Community Affairs August 19, 2010 Visit us at www.consumercomplianceoutlook.org The The opinions expressed in in this this presentation
More informationOverview of Mortgage Lending
Chapter 1 Overview of Mortgage 1 Chapter Objectives Contrast the primary mortgage market and secondary mortgage market. Identify entities involved in the primary mortgage market and the secondary market.
More informationFair lending report of the Consumer Financial Protection Bureau
Fair lending report of the Consumer Financial Protection Bureau April 2014 Message from Richard Cordray Director of the CFPB From the moment we first opened our doors, the Consumer Financial Protection
More informationIdentifying, Assessing and Mitigating Potential Redlining Risk
Identifying, Assessing and Mitigating Potential Redlining Risk Objectives Understanding Potential Redlining Risk Understanding the Reasonable Expected Market Area (REMA) vs CRA Assessment Area Understanding
More informationHMDA: Haven or Havoc. Cindy Prince, Presenter December 5, 6 & 7, 2017 Assisted by Rachelle Dekker and Matt Goble
HMDA: Haven or Havoc Cindy Prince, Presenter December 5, 6 & 7, 2017 Assisted by Rachelle Dekker and Matt Goble Recap Day One 2 1. Annual expectations 2. Two proposals and a new final rule 3. Key definitions
More informationCompliance Challenges in a Changing Economic Environment
Compliance Challenges in a Changing Economic Environment Call the Fed Audio Conference December 10, 2008 The following presentation contains the views and opinions of the speakers and his or her interpretation
More informationCompensation. November 16, 2016
Compensation November 16, 2016 Moderator: Robert Northway, Partner & Head of Consumer Banking and Global RE Practice, McLagan Speaker: Richard Andreano, Jr., Practice Group Leader, Ballard Spahr LLP Compensation
More informationMortgage Bankers and Brokers Association of New Hampshire
Mortgage Bankers and Brokers Association of New Hampshire March 24, 2014 Ken Markison, MBA Regulatory Counsel Presented by David H. Stevens President, Mortgage Bankers Association Introduction Seven weeks
More informationFair Lending Risk Management
Presented by: Martin (Marty) Mitchell, CRCM Managing Director, ProBank Austin Robert J. (Bob) Mullenbach, CRCM Managing Director, Compliance Division Deputy, ProBank Austin Fair Lending Laws ECOA Prohibits
More informationHome Mortgage Disclosure Act. I. Existing Rule a. Purpose b. Requirements II. New Rule a. When b. What
Home Mortgage Disclosure Act I. Existing Rule a. Purpose b. Requirements II. New Rule a. When b. What EDITION EFFECTIVE JANUARY 1, 2013 (For HMDA Submissions due March 1, 2014) A GUIDE TO HMDA Reporting
More informationNew Lending Opportunities in the Changed Mortgage Market: Dodd-Frank Act Mortgage Regulations
New Lending Opportunities in the Changed Mortgage Market: Dodd-Frank Act Mortgage Regulations Kenneth Benton Senior Consumer Regulations Specialist May 14, 2014 FEDERAL RESERVE BANK OF PHILADELPHIA Disclaimer:
More informationAn introduction to the Community Reinvestment Act. John Meeks Atlanta Region FDIC Community Affairs
An introduction to the Community Reinvestment Act John Meeks Atlanta Region FDIC Community Affairs What is the CRA? CRA stands for: The Community Reinvestment Act of 1977 The regulations implementing the
More information