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Business purpose loans seem to cause anguish for HMDA but they don't have to. Have a process to define what loans are business purpose, and have specific HMDA procedures for that portfolio. This webinar will help you to accomplish those goals!
Understanding which loans are business purpose loans is crucial for Regulations B and Z compliance as well as HMDA and CRA. It doesn't have to be that hard. If you are wrong on one, you are wrong on all, and if the loan is kept in portfolio, your risk processes might be wrong as well.
In this webinar, we will take a quick journey through identifying business purpose loans, and then delve into to handle them for HMDA. This is more important under the new HMDA regulation because there are more fields with exclusions for business purpose loans and lines of credit, plus many additional fields that do apply! Additionally, business purpose loans have different rules for what loans and lines are covered.
This webinar will focus on giving you the tools to have a strong HMDA process for those complex business purpose loans.
Attendees of this webinar will
•Identify and property report business purpose loans and lines of credit
•Establish specific procedures for business purpose lending
•Save time (and money) by streamlining HMDA reporting for business purpose lending and eliminate errors on your HMDA LAR
Who Should Attend: Anyone who needs to identify, report or audit business purpose loans for HMDA - Customer contact staff, Loan Officers, Compliance Officers, Auditors, Quality Assurance staff, Examiners, and lending and loan operations staff responsible for the HMDA LAR.
Excellent! - MLillyVery
good, but almost too much material for 2 hours - cynthia
Business Purpose Loans – What Are They and How Are They Reported for HMDA?
Questions and Answers