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PROPOSED HMDA CHANGES – COMMENT PERIOD EXTENDED

On August 2, 2019 the Consumer Financial Protection Bureau (CFPB) extended the comment period for specific aspects of the proposed Regulation C rule published in the Federal Register on May 13, 2019 (May 2019 Proposal) from June 12, 2019 to October 15, 2019. The May 2019 Proposal proposed amendments to Regulation C relating to the coverage thresholds for reporting data on closed-end mortgage loans and open-end lines of credit and partial exemptions under the Home Mortgage Disclosure […]

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PROPOSED HMDA CHANGES

On May 2, 2019 the Consumer Financial Protection Bureau (CFPB) published a Notice of Proposed Rulemaking (NPRM), an Advanced Notice of Proposed Rulemaking (ANPR) and other items related to changes to Regulation C, which is the implementing regulation for the Home Mortgage Disclosure Act.  Notice of Proposed Rulemaking For closed-end mortgage loans, the NPRM proposes two alternatives that would permanently increase the coverage threshold from 25 to either 50 or 100 closed-end mortgage loans. For […]

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CFPB RELEASES MODIFIED LARS

On March 29, the CFPB announced that the HMDA Modified Loan Application Register (LAR) data have been published for approximately 5,400 financial institutions. This is the first year in which additional data reported by certain institutions under the 2015 HMDA rule are available. The Modified LARs contain loan level information for 2018 on individual HMDA filers, modified to protect privacy. A copy of the CFPB’s press release is available here. The 2018 HMDA Modified LARs are […]

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2019 GUIDE TO HMDA REPORTING RELEASED

The Federal Financial Institutions Examination Council (FFIEC) has released the 2019 edition of the publication, A Guide to HMDA Reporting – Getting it Right (aka the HMDA bible). The 2019 version includes amendments made to HMDA by the Economic Growth, Regulatory Relief, and Consumer Protection Act and the 2018 HMDA interpretive and procedural rule issued by the Consumer Financial Protection Bureau. A copy of the Guide is available at:  https://www.ffiec.gov/hmda/pdf/2019guide.pdf.   […]

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