Description
45min | Credits: 1 CRCM
This course explores the types of loans HMDA covers and explains what demographic information about the loan application, and applicant, that banks must collect and report to the government.
Audience: Bank personnel with responsibilities for any part of the mortgage lending process if the bank is a HMDA-reporter.
Learning Objectives
After completing this course, students will be able to:
- Explain Regulation C’s key definitions
- Explain the types of loans subject to HMDA and the banks that are exempt from reporting
- Describe the HMDA data points that must be collected and reported and those that are optional for some banks
- Provide a brief description of schedules and public notices
This course is part of the ABA Frontline Compliance program.