About This Course The Home Mortgage Disclosure Act (HMDA) is a law that provides regulators and consumers with access to data that they can use to monitor the compliance of mortgage lenders with the Fair Housing Act and the Equal Credit Opportunity Act. This course reviews past lending practices that led to the enactment of HMDA and shows how the persistence of discriminatory practices led to the creation of new data collection requirements and expansion of HMDA's scope to apply to a broader range of lenders. While outlining the newest requirements for collecting and reporting loan data, this course shows how loan originators play a critical role in helping lenders avoid violations of HMDA and other fair lending laws.
What You'll Learn
- The history of the Home Mortgage Disclosure Act (HMDA), specifically discriminatory lending practices that led to its enactment
- The scope of HMDA, including financial institutions and transactions subject to its data collection and reporting requirements
- The data categories which form the basis of HMDA's reporting requirements
- Provisions of the law related to data submission and reporting
How it Works This course is delivered in a face to face format in which the student and instructor will occupy and interact in the same physical location.
All materials for your NMLS-approved Live CE Courses will be handed to you on the scheduled day of class. Materials will include textbook(s), assessment(s), syllabi, Rules of Conduct (ROC) and a survey. At the beginning of class you will need to provide a valid photo ID during the time of registration in order to attend class. For all Live CE courses, you must be present and attentive for the full length of class. If you are unable to complete any section of the class, you will be required to reschedule. Any missed check-in will prevent you from receiving credit, and you will be required to reschedule. Before you are able to receive credit, you must also initial on the roster that you have read and understand the Rules of Conduct Document (ROC), which will be made available to you when you arrive to the class.