HMDA Fair Lending and ECOA Compliance
HMDA, Fair Lending and ECOA Compliance provides a connection between current fair lending laws. Beginning with the historical context, the course traces the progression of these laws, highlighting key legislative milestones such as the Civil Rights Act, the Fair Housing Act, and the establishment of the ECOA. Participants will gain insights into how these laws have evolved in response to changing societal needs and emerging challenges in the credit industry. The course emphasizes the practical …
Overview
Curriculum
Instructor
You May Like
The Underwriting Process
Outline Loan to Value Ratio (LTV) Qualifying a Borrower Credit Ability to repay Property Eligibility Assess Risks Analyzing Borrower and Property Capacity Credit Collateral Analyzing assets Down payment Reserves Third Party Verification Gifts Automated Underwriting Systems Desktop Underwriter DU – Fannie Mae Loan Product Advisor LP – Freddie Mac Calculating Debt to Income Ratios Income Components Debt Components Employment and Income Requirements Computing Monthly Income Credit Scores and Credit Scoring Learning Objectives Calculating LTV Identify criteria used to evaluate ability to repay Discuss Automated Underwriting...
Truth in Lending and RESPA
Outline Department of Housing and Urban Development Act HUD’s Mission Federal Housing Administration Truth in Lending Act (TILA) Reg ‘Z’ Disclosures Annual Percentage Rate (APR) Loan Estimate (LE) Finance Charges Tolerances Right of Rescission Advertising Required Disclosures Mortgage Disclosure Improvement Act Amendments Fair Credit Reporting Act (FCRA) Consumer Rights Consumer Reporting Agency Obligations Bank Secrecy Act/ Anti-Money Laundering Financial Institutions Suspicious Activity Reports (SARS) Real Estate Settlement Procedures Act (RESPA) Covered Transactions RESPA Provisions Required Disclosures Loan Estimate (LE) Closing Disclosure (CD) Learning Objectives Understand the purpose of the Truth in Lending Act...
Equal Credit Opportunity Act and Other Protections
Outline Laws Prohibiting Discrimination Equal Credit Opportunity Act (ECOA) ECOA Requirements Enforcement Disclosures Fair Housing Act Fair Housing Act Exemptions Fair Housing Violations Discrimination in Mortgage Lending Discriminatory Practices Enforcement Home Mortgage Disclosure Act (HMDA) Reg C Covered Properties Data Reporting Home Ownership and Equity Protection Act (HOEPA) High Cost Loan Triggers Prohibited Practices Required Disclosures Homeowners Protection Act (HPA) Disclosure Provisions of the HPA Gramm-Leach-Bliley Act (GLB Act) Financial Privacy Rule Safeguards Rule E-Sign Act Disclosure Provisions Patriot Act Disclosure Provisions Fair and Accurate Credit Transaction Act (FACT Act) Provisions of the FACT...
Course Features
- Lecture 0
- Quiz 0
- Duration 10 weeks
- Skill level All levels
- Language English
- Students 0
- Assessments Yes