Apr 16

Apr 16 HMDA Refinance vs. Cash-Out Refinance

In this HMDA video, Adam explains when to use a "refinance" code vs a "cash-out refinance" code and explains that a cash-out refinance is just a subcategory of a refinance. He also discusses which code to use for business purpose loans.

Apr 11

Apr 11 HMDA Purpose Statement From Applicant

Adam Witmer

HMDA

In this HMDA video, Adam talks about the purpose field and the requirements (or lack thereof) for proving the purpose of the application.

Apr 9

Apr 9 HMDA Other Purpose

Adam Witmer

HMDA

In this HMDA video, Adam discusses the "other purpose" field on the HMDA LAR and explains when to use it as well as when to never use it.

Apr 1

Apr 1 HMDA Loan Purpose Hierarchy

Adam Witmer

HMDA

In this extended Compliance Clip (about 8 minutes), Adam discusses the new purpose hierarchy in this HMDA video and explains why the CFPB changed the long-standing order of which purposes take priority over other purposes. This video dives into the rule, commentary, and preamble to give us a full understanding of the new HMDA hierarchy.

Mar 29

Mar 29 HMDA Loan Purpose Code for Business Purpose Loans

Adam Witmer

HMDA

This HMDA video focuses on the loan purpose code for business purpose loans. Plus, Adam explains that there is one code you will never use for business purpose loans.

Mar 28

Mar 28 HMDA Application Date Consistency

Adam Witmer

HMDA

This HMDA video discusses the consistency requirements of the application date field on the HMDA LAR.

Mar 28
Mar 28 HMDA - Reporting End Loan as Home Improvement

Adam Witmer

HMDA

With the recent changes to the Home Mortgage Disclosure Act (HMDA) which became effective on January 1, 2018, many compliance professionals have had to rethink how they report certain loan situations for HMDA purposes. Particularly, there have been some logistical challenges in the way certain Home Improvement loans are reported.

Mar 28

Mar 28 HMDA Application Date for Indirect Applications

Adam Witmer

HMDA

This HMDA video covers the requirements of the application date field for indirect applications.

Mar 25

Mar 25 HMDA App Date for Reinstated Applications

Adam Witmer

HMDA

This HMDA video focuses on the requirements of the application date field for a reinstated application.

Feb 22
Feb 22 2018 HMDA Getting It Right Guide

Adam Witmer

HMDA, Regulatory Update

The FFIEC has finally released an updated HMDA Getting It Right Guide. The FFIEC release the new guide today, which is the first revision of the guide since 2013. The new version has been completely revised to reflect the HMDA changes from the 2015 final rule as well as the 2017 amendments that went into effect on January 1, 2018.