Before the CFPB’s new Home Mortgage Disclosure Act rules kick in, now would be a great time for the mortgage industry to take steps to improve the HMDA process, according to Kathleen Blanchard, president of Key Compliance Services. “As another HMDA season draws to a close, take some time to consider the HMDA process and how to make it better,” she advised in a recent online blog. “The HMDA Loan Application Register is an important document that is very labor intensive, with monetary penalties attached for inaccuracies. Take a project management approach and create a strong process to get it right.” Blanchard said she sees financial institutions scrubbing LARs at year end, making changes to applications and loans that should ...