2nd National Corporate Counsel Forum on

HMDA

Interpreting Data, Avoiding Enforcement Actions, and Preparing For Litigation

Tuesday, November 15, 2005

About

Are You Prepared To Weather the Fallout From the Federal Reserve's Analysis of HMDA Data?

The financial world is still reeling from the release of the 2004 HMDA data. Consumer advocates immediately claimed the data was proof of massive lending disparities. New York Attorney General Eliot Spitzer publicly announced his office was investigating a number of major mortgage lenders. And the OCC is locked into a battle with a consortium of national banks as well as the New York AG over the right to investigate.

But all this is simply to prepare for the next big step the Federal Reserve's release of its own analysis of the HMDA data. The data will not only show tremendously controversial information on loan pricing, it will set the tone for Federal and State investigations into predatory lending violations, fair lending claims, and a number of cases an aggressive plaintiff's bar is anxiously waiting to file.

ACI's 2nd National Corporate Counsel publication on HMDA will offer you the strategies you need to protect your lending institution by preempting the impending flood of litigation and by giving you a clear knowledge of the federal and state regulatory and enforcement initiatives surrounding the HMDA data. You will also benefit from inside information from plaintiff attorneys and consumer advocates, and learn about the impact the data will have on the mortgage lending landscape. The faculty of top lending attorneys and industry insiders addressed:*
  • How to minimize the reputational injury and legal risks of the HMDA data and Federal Reserve analysis
  • How will federal and state regulators engage the industry in terms of pricing data?
  • Impact of fair lending developments on state-chartered banks and non-bank mortgage companies
  • Strategies for countering plaintiffs' use of HMDA data to support claims
  • Credit quality, loan to value, debt to value and other factors as elements in a successful defense
  • Consequences of loan disparities on pricing and reserve requirements on the secondary market
  • Internal strategies for minimizing "bad" HMDA data for new loans
  • Measuring damages under ECOA, FHA and comparable state law claims


*American Conference Institute cannot guarantee that every presentation will be included in the publication.

Contents & Contributors

About

Are You Prepared To Weather the Fallout From the Federal Reserve's Analysis of HMDA Data?

The financial world is still reeling from the release of the 2004 HMDA data. Consumer advocates immediately claimed the data was proof of massive lending disparities. New York Attorney General Eliot Spitzer publicly announced his office was investigating a number of major mortgage lenders. And the OCC is locked into a battle with a consortium of national banks as well as the New York AG over the right to investigate.

But all this is simply to prepare for the next big step the Federal Reserve's release of its own analysis of the HMDA data. The data will not only show tremendously controversial information on loan pricing, it will set the tone for Federal and State investigations into predatory lending violations, fair lending claims, and a number of cases an aggressive plaintiff's bar is anxiously waiting to file.

ACI's 2nd National Corporate Counsel publication on HMDA will offer you the strategies you need to protect your lending institution by preempting the impending flood of litigation and by giving you a clear knowledge of the federal and state regulatory and enforcement initiatives surrounding the HMDA data. You will also benefit from inside information from plaintiff attorneys and consumer advocates, and learn about the impact the data will have on the mortgage lending landscape. The faculty of top lending attorneys and industry insiders addressed:*
  • How to minimize the reputational injury and legal risks of the HMDA data and Federal Reserve analysis
  • How will federal and state regulators engage the industry in terms of pricing data?
  • Impact of fair lending developments on state-chartered banks and non-bank mortgage companies
  • Strategies for countering plaintiffs' use of HMDA data to support claims
  • Credit quality, loan to value, debt to value and other factors as elements in a successful defense
  • Consequences of loan disparities on pricing and reserve requirements on the secondary market
  • Internal strategies for minimizing "bad" HMDA data for new loans
  • Measuring damages under ECOA, FHA and comparable state law claims


*American Conference Institute cannot guarantee that every presentation will be included in the publication.

Contents & Contributors


THE CHANGING LANDSCAPE OF MORTGAGE LENDING: UNDERSTANDING THE INTERPLAY OF HMDA DATA, PREDATORY LENDING AND FAIR LENDING
Paul Hancock, Partner, Hogan & Hartson LLP

HMDA DATA ANALYSIS: INTERPRETING THE PICTURES PAINTED BY PUBLIC DATA
Clark R. Abrahams, SAS Institute Inc. (Cary, NC)
Fiona McNeill, SAS Institute Inc. (Cary, NC)
Sunny Zhang, Ph.D., SAS Institute Inc. (Cary, NC)

A MARKET ANALYSIS OF THE 2004 HMDA DATA
Dr. Marsha Courchane, ERS Group

PARALELL STATE ENFORCEMENT AUTHORITY OVER FAIR HOUSING/ MORTGAGE LENDING/ HMDA STATISTICS
Frank Hirsch, Nelson Mullins Riley & Scarborough, LLP

CURRENT ISSUES IN HMDA LITIGATION AND ENFORCEMENT
Andrew L. Sandler, Skadden, Arps, Slate, Meagher & Flom LLP

MEASURING DAMAGES
Dr. Sharon Kelly, ERS Group

DAMAGES ANYONE?
Patrick Fischer, Keating Meuthing & Klekamp LLP

MEASURING DAMAGES: AN INVESTIGATION INTO THE FINANCIAL CONSEQUENCES OF HMDA
Mathew Long, Bates White

DEFENSE STRATEGIES FOR COUNTERING HMDA BASED CLAIMS
Jeffrey L. McFadden, New Century Financial Corporation

FAIR LENDING DEVELOPMENT: FALL 2005
Joseph T. Lynyak, ReedSmith LLP

INTERNAL STRATEGIES FOR MINIMIZING "BAD" HMDA DATA FOR NEW LOANS
Edward Owens, Fifth Third Bank



DOCUMENT TYPES: PRESENTATIONS AVAILABLE: 0