HMDA: An Overview

Date Recorded: February 13, 2025
Presenter: Natalie Straus, Director, FORVIS, LLP

A two-hour webinar focusing on HMDA’s requirements.

The Home Mortgage Disclosure Act, as implemented by Regulation C (12 CFR 1003), requires many financial institutions to collect and report loan information to the government. This information helps show whether lenders are serving the housing needs of their communities, assists the agencies in the development of policies and regulations, and can show potential discriminatory lending.

These rules can be broken down into three categories: 1), which transactions are subject to reporting (coverage); 2) when such transactions are required to be reported (applications/purchases), including the importance of the Government Monitoring Information rules; and, 3) what information is required to be reported (data points).

This webinar will provide an overview of these requirements, including definitions and exemptions that are crucial in understanding this often confusing and overwhelming rule.

HERE IS WHAT YOU WILL LEARN:

• Coverage:
  • Definition of dwelling
  • Closed-end versus open-end (including the open-end thresholds)
  • Business purpose loans
  • Exemptions
• Importance of the “application”
  • Requesting GMI with the application
•  What information to report, with a focus on the more difficult data points and which ones may be exempted, including:
  • Action taken
  • Credit score
  • Debt-to-income ratio