HMDA Demographic Information: What’s the Purpose?

If you’re new to HMDA, you’ve probably been told you need to collect an applicant’s ethnicity, race, and sex (demographic information) on applications for certain types of loans and/or lines of credit. While that doesn’t sound all that difficult, seasoned lenders can probably attest to the fact that it really is a lot more complicated than you might think. There are a lot of ifs, and buts to consider. What you might be wondering though is why you even need to collect demographic information in the first place?

David explains more in the video.

Ready to learn more? JOIN US for our webinar, “HMDA Demographic Information Collection”. Featured topics include:

• Timing Requirements
• In-Person / Not In Person
• How to Collect
• Main Categories, Subcategories & “Other” Subcategories
• No Co-Applicant, Multiple or Absent Co-Applicants
• The Filing Instructions Guide’s (FIG) Rules
• Collection Forms
• Your Questions, Plain English Answers & Much More!