Links in “Home Mortgage Disclosure Act (HMDA)”

The CFPB is publishing a proposed amendment to Regulation C (HMDA) for public comment. The changes focus on adding and clarifying several reporting elements for institutions, as well as amending institutional and transactional coverage under the regulation. The public comment period is open through October 29, 2014. [8/29/14]

The proposed HMDA rules calling for far more data collection categories is a game changer that could lead to a replay of 1991, when the initial release of HMDA information ignited a firestorm of fair lending litigation. Now may be the time to run your institution's numbers using the proposed categories to see if there are disparities that should be addressed now before it starts to get toasty. [8/18/14]

When Congress passed Dodd Frank in 2010, it added 10 data elements to HMDA reporting, but it also gave the CFPB a blank check to add whatever else it determined necessary. The CFPB took that blank check, resulting in the 573-page proposal for HMDA that is now before us. [7/31/14]

Institutions originating fewer than 25 mortgages annually would not be subject to HMDA reporting requirements. But for other institutions, the reporting burden is going up, including a quarterly reporting requirement for certain institutions. [7/29/14]

The CFPB's proposed amendments to HMDA are designed to enhance the opportunities to analyze mortgage lending activity by including credit score, age, property value, and more. The proposed change also raises concerns about borrower privacy. [7/28/14]

The CFPB has proposed changes to current HMDA reporting requirements. The changes seek to, among other things, 1. standardize and align reporting with industry data standards, 2. improve the data reporting and data access processes, and 3. ease reporting requirements for smaller institutions. [7/25/14]

CFPB is recruiting for its second round of participants in its Technology & Innovation fellowship program, a two-year program for tech developers. The first group's work include developing an online tool to visualize and track HMDA data, the "Ask CFPB" FAQ feature, and eRegulations. [6/26/14]

HMDA currently requires reporting of up to 30 points of data for each covered application. Dodd-Frank identified nine more data points and opened the door to other points that the CFPB felt was appropriate. The CFPB's list is up to 20 more. Here's what the CFPB is proposing. [6/12/14]

While HMDA does not survey for sexual orientation, a look at same-sex co-applicants reveals higher denial rates than for mixed-sex couples with a male as the primary applicant. [6/10/14]

A brief recap of the CFPB's Fair Lending Report, including guidance on how lenders may self-assess their own compliance with ECOA and HMDA. [5/5]