Archive

CFPB CONSIDERING HMDA REVISIONS

During the Trump administration the Trump CFPB shrunk the HMDA requirements. Now the Biden CFPB, “plans to review recent changes to the rule and evaluate their effectiveness. This evaluation will strengthen the CFPB’s ability to maintain a fair, competitive, and non-discriminatory mortgage market.” On November 16, 2021, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to seek input on rules implementing the Home Mortgage Disclosure Act (HMDA). Specifically, the CFPB will […]

OBSERVATION REGARDING THE 2020 HMDA DATA

On June 17, 2021 the Federal Financial Institutions Examination Council (FFIEC) published 2020 HMDA data. The data is always a treasure trove. The following are a few quick observations about the data. For 2020, the number of reporting institutions declined by about 18.8 percent from the previous year to 4,475. One reason for the change is that, in 2020, the Bureau issued a final rule amending Regulation C to increase the threshold for collecting and […]

2021 HOME MORTGAGE DISCLOSURE ACT THRESHOLD INCREASE

On December 22, 2020 the Consumer Financial Protection Bureau published a final rule amending the official commentary that interprets the requirements of Regulation C (Home Mortgage Disclosure Act) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). For 2021, the exemption threshold is increased to $48 million from $47 […]