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State of HMDA in 2021; Plus the New 1003 URLA

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We’re all happy that 2020 is in the rearview mirror of course, but compliance never takes a breather. And this is the time of year that HMDA reporting becomes front and center for compliance and fair lending professionals. We’re a few years into the newest requirements, but things continue to evolve. Plus we’ve learned quite a bit on how to handle the new coverage and data requirements. In this webinar we’ll discuss HMDA in-depth and focus on those gray areas and frequent problems. We’ll also review the rules on thresholds for reporting that were finalized last year, as well as what to look forward to this year. The only constant is change.

But that’s not all – there’s a redesigned Uniform Residential Loan Application (Fannie Mae form 1003). The new form is effective on January 1, 2021, but doesn’t become required until March 1, 2021. This change has been in the works for several years, and has been controversial at times. We’ll discuss what’s new and what to pay attention to regarding the new form so you’re ready by March.

Covered topics include:

• HMDA thresholds for reporting – final rules finally!

• Reporting various loan types – close and open-end; consumer and commercial

• Important definitions and how they impact reporting, such as preapproval, dwelling, income, credit score, and more

• Reporting hierarchies and coding

• Typical problem spots, such as loan purpose, action taken, dates, and others

• Public vs. private data – what can the public see?

• HMDA notices and availability of data – increased fair lending risk

• The new Uniform Residential Loan Application (URLA) – what does this mean and what has changed?

• New data fields and mapping to Desktop Underwriter (DU) or Loan Prospector (LP)

This webinar will be interactive, so come with your questions!

Approved for 2 hours CRCM credit.

About Our Speaker:

Carl Pry, Managing Director of Treliant, is a seasoned executive with banking law, corporate finance, and regulatory compliance experience in Fortune 500 institutions, regional banks and industry consulting firms. Carl advises clients on commercial compliance, fair lending, corporate treasury and risk management.

Over the last 18 years, Carl has held senior leadership positions including Senior Vice President and Compliance Manager for the Compliance and Control Division at KeyBank, Manager of Finance and Performance Management Service Line at Accenture, and Vice President of Regulatory Services at Kirchman Corporation. With strong knowledge and experience as a banking attorney and officer, Carl is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. As a featured speaker for numerous banking, compliance, and state bar associations, he has led training sessions across the country. Carl has served as an instructor at FDIC examiner school and back-up instructor for NCUA examiner school. He has authored training programs covering consumer and commercial compliance, audit, quality control, tax, privacy and risk management.

Carl is a columnist for ABA Bank Compliance and ABA Bank Marketing magazines. He has authored scores of articles on financial issues and developed testing and support materials for BAI’s Anti-Money Laundering Professional certification and served as subject matter expert for web-based compliance and audit educational testing programs for banking training firms. He is the author of “Internet Banking Manual”, a comprehensive guide to business planning, risk analysis and maintaining a presence for financial institutions on the Internet. For LexisNexis, he also authored “The New RESPA Rule: Navigating New Disclosures” and “The Evolution of Reg. Z: Increased Duties and Responsibilities for Lenders.”

Carl holds a JD and an MBA from the University of Toledo and a BSBA from Bowling Green State University. He is also a Certified Regulatory Compliance Manager and Certified Risk Professional.