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Understanding HMDA Training Course

This course package is an overview of the Home Mortgage Disclosure Act (HMDA) for mortgage loan originators.

$14.95

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Online Course
Includes Video
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At A Glance:

Price: $14.95 (USD)
Features: online text, online video
Category: Mortgage > Core Compliance Training > Non-credit
Sponsor /
Delivery:
OnlineEd
7405 SW Beveland Rd,
Portland, OR 97223
(503) 670-9278
mail@onlineed.com

In 1975, Congress passed the Home Mortgage Disclosure Act (HMDA), which was implemented by Regulation C of the Federal Reserve Board (FRB). HMDA is codified at 12 U.S.C. 2801-2810, and Regulation C is codified at 12 C.F.R. Part 1003.

HMDA allows regulators to determine if the housing needs of the community are being met by requiring financial institutions (and certain mortgage companies) to report public data to their respective supervisory agencies. It was amended in 1989 when Congress extended the Act to independent mortgage companies, and added requirements to report data on denials of mortgage applications and to identify the ethnicity, race, gender, and income of applicants and borrowers.

In 1998, the Federal Reserve initiated a major review of its rules implementing HMDA. After issuing two proposals and receiving extensive comments, the Board adopted final rules in 2002 that took effect on January 1, 2004.

This course will review the Home Mortgage Disclosure Act and who needs to report the required information. You will learn what applications must comply with HMDA and what types of loans do not fall under HMDA requirements. You will also review the HMDA reporting codes.

Course Objective

At the conclusion of this course, you will be able to:

  • Identify the key components of HMDA.
  • List ways the HMDA can help consumers.
  • Define HMDA reporting requirements.

Our Mission Statement

To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.