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Webinar: Real Estate Lending Series: Avoiding HMDA Reporting Mistakes

Event Info


July 30th, 2014 2:00 PM   through   3:30 PM


United States

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HMDA Reporting Mistakes – Can you spell e-x-p-e-n-s-i-v-e? The March 2014 NCUA Report contained a dialog with the new Deputy Director of the Office of Consumer Protection titled “Compliance Management, HMDA Data Quality Top Fair Lending Concerns”. This included a comment from the Director that “Credit unions should ensure that the staff responsible for HMDA reporting receives training and establish a verification system to test HMDA data.” An on-site fair lending exam can be triggered by HMDA “outlier” data when there are indications that lending practices are outside the normal range for pricing, denials, withdrawals, or loan terms when compared to other credit unions. Risk-focused exams are showing HMDA data quality errors.

In addition, the CFPB fined a “non-bank” mortgage company $425,000 in 2013 for HMDA reporting errors and sent a strong message to regulators that “getting it right” is important.  What did they do wrong?  How can you avoid these fines, penalties, and headaches?  What does the HMDA data tell regulators about potential fair lending problems?  This seminar will cover the basic requirements for accurate HMDA data collection.  Learn how to use the HMDA “Getting it Right Guide” and other tools to help streamline your efforts and detect potential reporting errors.


  • Overview of HMDA requirements, including proper data collection of the 26 data fields
  • Common HMDA reporting errors
  • Best practices for HMDA data validation
  • Key data fields that are targeted for fair lending analysis
  • 14 data fields that will be required under the expanded requirements of section 1094 of the Dodd-Frank Financial Reform Act
  • Update on the CFPB proposal for HMDA reporting
  • When do regulators assess civil money penalties for HMDA reporting violations?
  • What are three negative impacts from data errors in HMDA reporting?


    • HMDA worksheets and flowchart
    • Step-by-step data collection definitions and important tips to avoid mistakes
    • HMDA compliance resources, including checklists and a matrix of 37 types of real-estate-secured lending regulation requirements
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.


This informative session is designed for loan operations, loan officers, lending assistants and processors, compliance officers, fair lending officers, and auditors.

Please note:  The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone.

ABOUT THE PRESENTER – Susan Costonis, Compliance Consulting and Training for FIs

Susan Costonis is a compliance consultant and trainer.  She specializes in compliance management along with deposit and lending regulatory training.  Most of her 35-year career was spent as a banker in several areas including lending, loan administration, electronic banking, and compliance risk management.

Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies.  She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve.  Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado.  She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.


Note:  All materials are subject to copyright.  Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited.  Print materials may be copied for eligible participants only.


The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone.  Registrants receive a toll-free number and pass code that will allow entrance to the seminar.  The session will be approximately 90 minutes, including question and answer sessions.  Seminar materials, including instructions, PIN number, and handouts will be emailed to you prior to the broadcast.  You will need the most-current version of Adobe Reader available free at


Listen to the
archived webinar on your




Instructions will be emailed with the archived webinar link.


Can’t attend the live webinar? The archived webinar is a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address so you may ask follow-up questions. Approximately one week prior to the webinar, you will receive an email with the archived webinar link. This webinar link can be viewed anytime 24/7, beginning 6 business days after the webinar and will expire 6 months after the live program date.

As an added bonus, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts.  Use the archived webinar or this “off-the-shelf” training program for those that could not attend the live seminar and for future training.

The archived webinar (including the free CD ROM) may ONLY be ordered for 6 months following the webinar. Neither will be available after this time.


Options 1 and 2 described above


*CD ROM is for Mac and PC use only

This event is being conducted by CU Web Training on behalf of the Missouri Credit Union Association. Click here to register:

July 30th, 2014 2:00 PM   through   3:30 PM
United States