The Bureau of Consumer Financial Protection has released the Filing Instructions Guide, or FIG, for Home Mortgage Disclosure Act (HMDA) data collected in 2019 and reported in 2020. There are no significant changes to the submission process for data collected in 2019 and reported in 2020 and, therefore, no significant changes to the FIG. However, updates were made and financial institutions will need to be aware of the changes to the FIG for data collected in 2019.
A few of the changes include, but are not limited to, added and updated AUS values; updated instructions for reporting DTI to accept a negative number; reporting the credit score; reporting AUS results; numerous edit revisions including verifying institutions are eligible to take exemption for applicable data points; and, less consequential, an adjustment to the Bureau’s name (i.e. Consumer Financial Protection Bureau is now Bureau of Consumer Financial Protection or the Bureau).
To access the 2019 FIG, including a full list of changes, click here.
A full list of HMDA resources is available here.