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The Mortgage Bankers Association’s training and education division, MBA Education, has announced the release of two key MBA Compliance Essentials resource guides: Home Mortgage Disclosure Act (HMDA) Resource Guide and Diversity/Section 342 Resource Guide.
“These resource guides are designed not only to be an ongoing point of reference for the lenders and industry participants who purchase them, but a tool which helps the reader understand the nature of the rule,” said Ken Markison, MBA vice president and regulatory counsel. “Both the HMDA and Diversity resource guides are essential for industry stakeholders.”
The HMDA Resource Guide walks purchasers through the new requirements within the rule, institutional and transactional coverage, data reporting, and fair lending implications. Policies, procedures, and checklists for compliance are all included. The guide is authored by Michael Flynn, a partner at Goodwin Proctor LLP; and Mitch Kider and Leslie Sowers, managing member and member, respectively, at Weiner Brodsky Kider PC.
The Diversity/Section 342 Resource Guide is authored by Anthony Sharett, a partner at Baker Hostetler, and contains not only an overview of the rule, but tools for self-assessment, policies and procedures, and best practices to promote diversity within a company’s organization and amongst their suppliers.
MBA Education also released two other guides, the Social Media Resource Guide by David Stein, counsel for Brickler & Eckler LLP, and an update to the CFPB Examination Manual, authored by Donald Lampe, partner with Morrison & Foerster LLP.