Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
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The Home Mortgage Disclosure Act (HMDA) mandates that financial institutions collect, report, and disclose data about their mortgage lending practices. However, complying with HMDA rules can be complicated and challenging as financial institutions must gather detailed demographic information, report on loan applications and originations accurately, and ensure data is handled correctly. Dealing with these requirements can sometimes be overwhelming, especially given the intricate nuances in the regulatory guidelines and the potential consequences of non-compliance, which can include hefty fines and reputational damage.
For this reason, it is imperative for the board of directors to have a robust understanding of HMDA's high-level requirements. The board's role includes overseeing the institution’s HMDA program, ensuring that the organization adheres to acceptable collection and reporting requirements. A well-informed board is better equipped to support the executive team, make informed strategic decisions, and allocate resources effectively to manage their financial institution’s HMDA program. Their engagement in understanding HMDA helps to set the right tone at the top, which helps to ensure that HMDA compliance is prioritized and embedded within the institution’s culture.
Our HMDA training program is designed to help your board of directors understand the complex challenges faced by your HMDA teams. The program provides an overview of HMDA requirements as well as a clear view of the difficulties involved in maintaining accurate reporting, managing data integrity, and meeting compliance requirements. Directors will receive a list of considerations they can use to ensure their oversight is effective and their fiduciary responsibilities are met. This approach equips the board to evaluate and support HMDA compliance efforts, identify potential gaps, and make informed decisions that align with regulatory standards and the institution’s strategic objectives.
This program would be good for financial institutions who want to ensure their directors understand the HMDA requirements and how it does/could affect their financial institution.
NOTE: There are multiple ways for us to deliver this video program to your directors - including an option for a private portal for your directors to easily access - so let us know if you have questions.
Regular Price: $399
Demo Available: If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can set you up with preview access.
Our “Board of Directors HMDA Training” is a comprehensive, but quick and to-the-point program designed to assist in training the Board of Directors on HMDA. The program includes an on-demand video (with a download option), a comprehensive manual, and presentation slides (Powerpoint) that can all be used for training the Board of Directors on redlining. The program actually provides three options to present the training to the Board:
First, we can set your organization up with a private link for your directors to log in individually and stream it from their own location - just email us for more info on this option.
Second, financial institutions can play our pre-recorded video during a Board meeting. This can be accomplished by either playing our on-demand video (streaming from our site) or by downloading the full MP4 file and playing it from your own computer (recommended).
Lastly, financial institutions can utilize our comprehensive training manual and slides in order to have a bank employee provide the board training in person. If this option is chosen, the trainer can use our video as a guide of what their training could be like.
Understanding that Directors need an efficient and high-level overview for any type of training, this program is designed to provide comprehensive redlining training for the Board of Directors in just about 30 minutes.
NOTE: If you would like to sample this program before purchasing it, just let us know and we can work something out.
The class provide the Board of Directors an executive training on redlining and risk mitigation strategies. Due to time constraints of the program and perceived applicability to attendees, some topics will be reviewed in greater details than others.
Overview of HMDA Rules
Covered Financial Institutions
Transactional Coverage
Data Points to Collect and Report
Qualifying as an “Exempt” Smaller HMDA Reporter
Collecting HMDA Data
Key Elements for Accurate HMDA Programs
Director Tips: 10 Steps for HMDA Compliance
This Compliance Class can be completed without leaving your office and provides you with everything you need to know about what compliance related activity took place during the prior quarter.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Certificate of completion (1 per registration - available upon request/5 per registration for the +unlimited attendees option)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
