On August 21, 2020, the Consumer Financial Protection Bureau released the:
- The Filing Instructions Guide for HMDA Data Collected in 2021; and
- The Supplemental Guide for Quarterly Filers for 2021.
The required data fields for the 2021 data have not changed from the 2020 data collection and reporting requirements.
HMDA requires the quarterly reporting of data only for financial institutions that reported for the preceding calendar year at least 60,000 covered loans and applications, combined, exclusive of purchased covered loans. The CFPB used the announcement of the guides as an opportunity to remind financial institutions that it does not expect to cite in an examination, or start an enforcement action, against any institution for failure to report its HMDA data quarterly. The policy was first announced in late March, largely as a response to the coronavirus crisis. In the announcement Friday, the CFPB indicated its eased approach toward HMDA data reporting would continue “until further notice.”