Tue, Nov 21, 2017
HMDA reporters must follow the new rules for covered loan applications when final action is taken on or after January 1, 2018. While the focus of the changes has been on mortgages, there are significant changes for other types of applications. The dwelling-secured standard was generally adopted for closed-end loans and lines of credit for consumers. Find out what HELOC reporting is required, within threshold limits. It’s imperative to know what information must be collected during a HELOC application under the new rules. Join us for a webinar on Dec. 11., 3:00 - 4:30 pm. REGISTER HERE
Business or commercial loans have both the loan-purpose test and the dwelling-secured test. How will data be collected? What type of business-purpose loans will be reported? What factors are considered in the purpose test? What if the collateral is a mixed-use property? Will the current consumer application forms for HELOCs and the documentation for commercial loan applications provide data for the new reporting requirements? This must-attend webinar will address these key questions and much more!