2018 HMDA Coverage & Data

As you are probably already aware, the 2018 HMDA rules is going to implement some major changes.  Did you know that certain types of loans NOT currently covered/reported in 2017 will need to be tracked and counted when determining whether you meet the 2018 HMDA test?!  What?!  In other words, you need to know what will be covered and excluded in 2018 so you know what types of loans to track in 2017.

For example, under today’s rules, you don’t collect or report on consumer purpose home equity loans.  In 2018; however, you will.  If a loan is secured by a dwelling, is made for consumer purposes and is not to purchase, improve or refinance a dwelling, you will report it has a home equity loan for HMDA.  On the other hand, you must NOT report any non-dwelling secured home equity loans.  Additionally, you will be required to report dwelling-secured, lines of credit if you meet certain criteria.

Join us for our 2018 HMDA Coverage & Data webinar on May 4, 2017, where we will teach you, in plain English, what’s covered, what’s not, and what data you will be required to collect/report.  NOW is the time to begin preparing for 2018 HMDA.

Register Today!

Published
2017/04/27
Deb Irving
David Dickinson

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.

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