WHAT DID YOU LEARN ABOUT REGULATORY COMPLIANCE?
Win the New Apple Watch! There will be a drawing every three months. Each month every person who scores 100% gets their
name placed into the drum for the drawing. This means that it’s possible for one of our readers to have their name placed into
the drum three ( 3) times for each quarterly drawing. A reader who scores 100% on each Quiz during the quarter could have an
advantage over others by having their name placed into the drum 3 times. The winner will be featured with their photo and bio
published in Mortgage Compliance Magazine along with a photo of the prize. Send a copy of this page along with your answers to
1. The focus of HMDA is the annual
monitoring of (Pages 10-15)
A. Mortgage loan rates.
B. Mortgage loan origination.
C. Mortgage loan purchase.
D. B and C.
2. HMDA, as enacted and amended,
has ____ primary purposes.:
3. The theory of discrimination
generally associated with a fair
lending analysis of LAR data is
known as: (Pages 10-15)
A. Disparate impact.
B. Collateral discrimination.
C. Disparate treatment.
D. A and B.
4. One of the challenges of complying
with the new HMDA rules may come
from inclusion of home equity lines
of credit (HELOCs) as: (Pages 10-15)
A. Protected loans.
B. Covered loans.
C. Preferred loans.
D. Discriminatory loans.
Circle the best answer to each question based on the articles in this month’s Mortgage Compliance Magazine:
5. According to the article, HMDA
reporters should obtain an LEI. The
LEI is the: (Pages 16-18)
A. Legal Enforcement Indicator.
B. Linked Entity Information.
C. Linked Entity Identifier.
D. Legal Entity Identifier.
6. Beginning in _____, all home
mortgage lenders will be required
to post their HMDA data to the