MBA Compliance Essentials Home Mortgage Disclosure Act Resource Guide Available
MBA Education and MBA Compliance Essentials announce availability of the Compliance Essentials Home Mortgage Disclosure Act Resource Guide.
In late 2015, the Consumer Financial Protection Bureau issued its final updated Home Mortgage Disclosure Act rule. The rule nearly doubles the number of data points that all covered entities must track and report, expands the range of non-depository financial institutions subject to HMDA’s reporting requirements, expands the types of transactions that must be reported and changes the reporting schedule for certain institutions.
This detailed resource guide provides essential background about the rule, individual data points and new institutional and transactional coverage requirements. This guide will also serve as an invaluable resource to help companies start to develop key policies and procedures around self-assessment, data integrity and data security.
Developed by:
–Michael C. Flynn, Partner, Goodwin Procter LLP
–Mitchel H. Kider, Managing Member, Weiner Brodsky Kider PC
–Leslie A. Sowers, Member, Weiner Brodsky Kider PC
This guide provides the following tangible benefits:
–Helps you organize your company to prepare for new data collection requirements
–Offers critical insights into specific data points and implementation strategies
–Provides guidance on how to manage risks of collecting and reporting sensitive consumer data
–Provides a detailed self-assessment checklist to ensure that your company is ready to collect and report applicable data pursuant to the new rule
Chapters include:
–Overview of the new HMDA Rule
–Effective and Important Dates for the Rule
–Covered Financial Institutions
–Covered Transactions
–Multifamily Implications
–Reporting Process Requirements
–Reportable Data
–CFPB Enforcement
–Implications Regarding Data Availability
–Fair Lending Implications
–Checklists for Implementation
–Model Policies and Procedures
MBA Compliance Essentials guides are available in electronic format only.
To order, click https://store.mortgagebankers.org/ProductDetail.aspx?product_code=DL2-011268-WC-W.
For more information, visit https://www.mba.org/store/products/publications-and-guides/ce-home-mortgage-disclosure-act-(hmda)-resource-guide.