Earlier this year, the New York Credit Union Association hosted a complimentary webinar for member credit unions on the Home Mortgage Disclosure Act’s reporting requirements. With the end of the collection year, Dec. 31, approaching, the Association is reminding member credit unions that a recorded version of the webinar is available on-demand.
The webinar, led by Association Compliance Director Linda Bow, addressed the Regulation C definitions that are crucial in determining if a credit union is required to collect and report HMDA data, as well as in determining which loans fall under these reporting requirements. The session covered definitions; final action taken examples; resources, tools and guides; and original source documents to use to support the integrity of the Loan Application Register field information.
The webinar also addressed common questions related to HMDA reporting exemptions and determining which credit unions are required to file a report.