Home Mortgage Disclosure Act (HMDA) for Compliance Professionals


Description: Home Mortgage Disclosure Act (HMDA) for Compliance Professionals explains the purpose and key terms of HMDA. It identifies which institutions must report HMDA data, and which loan applications are subject to data collection and HMDA reporting. This course also explains the format of Loan/Application Register (LAR), and how to transfer data from the bank’s loan applications to the LAR. This course covers the criteria by which the government agencies assess HMDA data collection and reporting, the notifications that are required, the types of discrimination that are assessed, the specific risk factors identified in the Interagency Fair Lending Examination Procedures (IFLEP) and the key areas to review to ensure HMDA requirements are met.

Students will learn through a combination of instructor videos, exercises, readings, glossaries, self-assessments and more. Students will complete the course with a final exam to earn Certified Regulatory Compliance Manager (CRCM) credits.

Audience: Compliance professionals including compliance managers, officers, and other compliance team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, auditors and lending compliance professionals

Learning Objectives: After completing this course, students will gain a fundamental understanding of HMDA including:

  • Whether an institution is covered by HMDA or not
  • Which transactions are subject to HMDA
  • How to properly complete a Loan Application Register (LAR)
  • Additional disclosure and reporting requirements of HMDA
  • Importance of management’s involvement