HMDA Expansion Creates Opportunities and Risks | Wolters Kluwer
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  • HMDA Expansion Creates Opportunities and Risks

    Catherine Brown, Sr. Compliance Attorney

    Published August 15, 2016

    The new HMDA rules are here to stay. The mortgage industry now has to come to grips with that reality—with sooner being better than later. 
    According to industry experts, the deadline dates established for the expanded HMDA reporting don’t tell the whole story. In this Scotsman Guide article, Wolters Kluwer senior compliance attorney, Catherine Brown, advises lenders to start now to ensure they are ready for the transition. The greatly expanded scope of HMDA will involve a huge system and reporting-protocol ramp-up as well as pose a major personnel training challenge, and those who wait too long to prepare will be at risk.

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