Discounts for HMDA webcast end Wednesday

Nov. 23, 2009 – Credit unions have until Wednesday to save on NAFCU’s next webcast, which will provide an overview of changes to Home Mortgage Disclosure Act requirements that took effect Oct. 1 and guidance for handling reporting errors and potential liability.

The webcast, set for Dec. 2 from 2 – 3:30 p.m., will detail the new HMDA rules for reporting price information on higher-priced loans and address prevalent problems in HMDA reporting. It will also explore the 2008 HMDA data, including the lending trends and how regulators are interpreting the data.

The speaker for the Dec. 2 webcast is Arthur Axelson, a partner at Reed Smith LLP. Axelson represents a broad range of financial institutions, brokers, lenders, investors and others on consumer financial service and retail matters. He focuses primarily on federal and regulatory compliance, with special emphasis on new product development, residential mortgage lending and e-commerce in the financial services industry.

NAFCU President Fred Becker said today’s economic climate underscores the need to avoid unnecessary expenses. Credit unions subjec to HMDA can avoid costly fines by filing accurately and on time. “Recent changes to HMDA reporting requirements have made the task all the more challenging, so this webcast is a much-needed primer for filing those reports correctly,” he said.

To register, NAFCU members and non-members can call 800-344-5580 or click on the link below.