Financial institutions are keenly aware of the strict reporting standards for mortgage loans under the Home Mortgage Disclosure Act (HMDA). What is HDMA? These standards were established in the pursuit of fair and equitable lending practices. You must ensure that your institution satisfies the latest laws and regulations. Is HDMA reporting a source of stress for your organization?

Expert HDMA Compliance Review Assistance

You can meet the regulatory requirements imposed by this act with assistance from the team of financial experts at Young & Associates. We offer HMDA compliance reviews that cover all your policies and procedures. Why use Young & Associates?

HMDA report

The Y&A Advantage

Young & Associates specializes in staying up-to-the-minute with federal regulations regarding every aspect of home loans and banking services. We tailor our compliance solutions to your specific institution and loan volume. This ensures that the recommendations we offer will meet your specific reporting needs. If you need a team of experts on your side, you need to talk to Young & Associates about our HMDA reporting and compliance services.

What Are the HMDA Requirements?

HDMA compliance can be complicated, with changing regulations. It’s imperative that financial institutions stay up to date, meeting these needs with the correct data. Training your staff is part of the equation, and Young & Associates can help there as well.

HMDA Data Reporting Compliance

The Home Mortgage Disclosure Act reporting requirements state that many banks and credit unions must report data about their mortgage loan applications, whether originated or purchased. In fact, the number of data points collected has been expanded. For some institutions, this will include home equity lines of credit.

Financial institutions must have policies and procedures in place for the collection and reporting of this data, as it is a key factor in determining their compliance with fair lending practices.

How Can Young & Associates Help?

Young & Associates can help you stay compliant with these changing reporting standards with HMDA reviews. When you consult with our team, you benefit from our years of experience in the financial industry.

Our team will:

  • Keep you up to date with regulatory changes and regulatory compliance requirements
  • Help you understand and identify reportable data
  • Assess your procedures for HMDA compliance
  • Validate your data and coverage
  • Help you identify the most common errors in HDMA reporting (including inaccurate coding and calculation errors)
  • Provide training and recommendations as needed

You can also count on our experience with fair lending reviews.

Talk to our HDMA consultants today.

Connect with a consultant

Contact us to learn more about our consulting services and how we can add value to your financial institution