Calendar of Events

HMDA 2018 Challenges with Taking Applications Part I – Consumer Applications

10/12/2017, 1:30 PM to 3:30 PM

No location provided

Amy Davis 601-948-6366


HMDA 2018 Challenges with Taking Applications
Part I of II – Consumer Applications

Presented by Susan Costinis
Thursday, October 12th, 2017 -1:30 pm - 3:30 pm CT


  • Coverage issues – Which CONSUMER applications are covered loans that require data to be collected at the time of application?
  • What data will be reported about the applicant? What data will be excluded?
  • Learn about special rules for prequalification versus preapprovals
  • What is the correct application date?
  • Identifying the correct loan purpose – there are FIVE options and rules for multi-purpose loans
  • Learn how to properly request and record “demographic” information and the process for applicants to “self-identify” under sub-categories for ethnicity and certain race categories.
  • What does the front-line need to know about these changes?
  • The pre-approval rules have been expanded and changed
  • Suggestions for potential problems with collecting, reporting, and validating the data fields for “applicant” and applications in these required fields and understanding when they may NOT be reported:
    • Age
    • Income
    • Debt-to-income ratio
    • Credit score
    • Automated underwriting system
    • Application channel
    • Reason for denial
    • Application date
    • Preapproval request
    • Ethnicity, race and sex
      • Disaggregation of ethnicity and race
      • Explanation for 13 KEY points about data collection including loan applications that begin in 2017 but final action is taken on or after January 1, 2018.

Register for Part I and Part II of this series
Register for Part I only
Register for Part II only