HMDA: Action Taken – ON-DEMAND WEBINARS

Date Recorded: August 16, 2021

Presenter: Natalie Straus, CRCM, Vice President, FORVIS

Join us for a ninety-minute webinar where we will tackle one of HMDA’s trickiest data points.

All HMDA reportable institutions must wrestle with determining the correct way to classify the action taken for their applications. Complicated issues like conditional approvals, counteroffers, and credit decisions can cause distress to even the most seasoned of HMDA reporters. We will break down common problem areas, address key concepts and discuss sample scenarios to help you confidently navigate these notoriously problematic areas.

You’ll learn how to identify applications and preapprovals that were:

• Originated
• Approved but not accepted
• Denied
• Withdrawn
• Closed for incompleteness
• Purchased
• Preapproval request denied
• Preapproval request approved but not accepted

We’ll talk about:

• Conditional approvals
• Customary loan closing conditions
• The effect of counteroffers
• The impact of a credit decision on withdrawn applications
• How to code applications when the applicant ignores all contact
• Important documentation

We’ll also take time to address questions and other concerns.