Tools and Techniques to Avoid HMDA Reporting Mistakes
Jim George is an independent consultant to banks focusing on issues of compliance, AML, and fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting. Jim was part of a Federal AML Task Force investigating a major money laundering scheme in Miami, Florida.
This webinar will provide valuable assistance to all personnel with HDMA reporting responsibilities in banks or other mortgage issuing institutions:
- Compliance with regulatory requirements
- Who must report
- What must be reported
- What kind of errors are common
- What errors cause the biggest regulator reactions
- General concepts of error reduction
HDMA reporting used to have a very high error rate. This has been
lessened by a system upgrade three years ago. But rules have been
changing and we have now been implementing the “final rules”
Areas Covered
- Learn how regulators view the importance of HMDA reports and what their major concerns are likely to be
- Understand the most common errors, so as to focus improvement where the effort will mostly bring benefits
- Understand which errors are most likely to be viewed as serious by regulators
- Tools and techniques will be discussed that have proven useful in helping management in reduce mistakes
Course Level - Basic and Intermediate
Who Should Attend
Supervisors and managers in the HDMA function, associates who prepare report input
Why Should You Attend
In the process of developing HMDA (Home Mortgage Disclosure Act) reports it is possible to make a variety of mistakes. Some of these are considered more significant than others. Some are more common than others. If the number of mistakes is high, it can result in rework and even fines. This can result in a loss of trust in your institution by regulators, which is never a good thing. The Topic is based on statistics as to common mistakes and the experience of a former regulator as to which mistakes will view as most significant to the regulators. It will also cover material useful in helping any operation reduce human errors.
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