|Features:||online text, printable certificate|
|Category:||Mortgage > Core Compliance Training|
7405 SW Beveland Rd,
Portland, OR 97223
In 1975, Congress passed the Home Mortgage Disclosure Act (HMDA), which was implemented by Regulation C of the Federal Reserve Board (FRB). HMDA is codified at 12 U.S.C. 2801-2810, and Regulation C is codified at 12 C.F.R. Part 1003.
HMDA allows regulators to determine if the housing needs of the community are being met by requiring financial institutions (and certain mortgage companies) to report public data to their respective supervisory agencies. It was amended in 1989 when Congress extended the Act to independent mortgage companies, and added requirements to report data on denials of mortgage applications and to identify the ethnicity, race, gender, and income of applicants and borrowers.
This course will review the Home Mortgage Disclosure Act and who needs to report the required information. You will learn what applications must comply with HMDA and what types of loans do not fall under HMDA requirements.
At the conclusion of this course, you will be able to:
To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.