AML and regulatory compliance webcast series: Winter 2018
New year brings significant changes to HMDA guidelines
RECORDED WEBCAST |
Join RSM as we review the most significant changes to the Home Mortgage Disclosure Act (HMDA) since its passage in 1975.
On Jan. 1, 2018, the most substantial expansion of data reporting requirements went into effect, causing financial institutions to make adjustments at each line of business. Our webcast will detail the HMDA requirement changes your institution needs to be aware of and also prompt you to ask the relevant questions of your updated implementation plan with regard to:
- System readiness
- Staff training
- Data training and validity testing
- Post-closing events
By focusing on more expansive data reporting and analysis, the new HMDA guidelines increase visibility for regulators, aiming to enhance fair lending practices and ensure that community housing needs are met. Staying in front of these changes and identifying gaps or risk areas to remain complaint with HMDA data collection requirements is essential to avoid potential enforcement actions.