Links in “Home Mortgage Disclosure Act (HMDA)”
- Uptick in Private Companies Requesting HMDA Data
Who are these companies asking for your HMDA data, why are they asking, and do you have to comply? [4/21]
- NCUA Releases March Report
12-page report provides insights on wide range of topics including the strength of Insurance Fund, threats to and management of cyber security, voluntary liquidation, "know your member," verification, fraud, HMDA data, and Fair Lending impact. [3/18]
- More on CFPB’s HMDA Reporting Changes Announcement
One clear takeaway from the CFPB's recent announcement about possible changes to HMDA reporting requirements is that HMDA data will be subject to greater scrutiny from regulators. [2/11]
- CFPB Director Cordray Speaks Out on HMDA Expansion
Key comments include massive expansion of information to give regulators a better view of developments in all segments of the housing marketplace, implementing better collection processes, and streamline reporting. The biggest carrot is exemption for FIs with under 25 entries. [2/11]
- CFPB Seeks Massive HMDA Expansion
CFPB launches new HMDA tool, but also is seeking MASSIVE expansion of HMDA reporting requirements, including information on rate spread, use of teasers, prepayment penalties, loan officer identification, underwriting information (including DTI and LTV), age and credit score, QM status, and use of AUS (Automatic Underwriting Systems). However, some streamlining is also proposed. [2/10]
- Fed and CFPB Focusing on HMDA
Federal Reserves Q4 outlook looks at HMDA reporting requirements and the CFPB announces it is looking at making changes to reporting requirements. [2/10]
- Thresholds Adjustment Roundup
2014 HMDA asset threshold, CARD Act threshold, HOEPA annual threshold adjustment, asset-threshold for HPML escrow exemption -- it's all here. [1/6]
- Get Your Threshold Adjustments Here!!
Agencies announce thresholds for various regulations: (1) CRA: Intermediate Small Bank: $1.202 billion for prior two calendar year-ends; (2) FCRA: Maximum charge of $11.50 remains for 2014; (3) TILA: higher-priced mortgage escrow requirement exemption increased to $2.028 billion for banks as of 12/31/2013; and (4) HMDA reporting asset size exemption of $43 million as of 12/31/2013. [12/30]
- Coming to Grips with Rising HMDA Expectations
Along with its announcement of two large fines for submitting incorrect HMDA data, CFPB spells out what it expects of institutions to ensure accurate submissions. [10/17]
- HMDA Hot List: CFPB Spells Out What It Expects to See in an Effective HMDA System
What may have been lost in the news about the civil money penalties for the HMDA failings of two financial institutions is the real take-away for all financial institutions: CFPB issues guidelines on what it describes as being elements of an effective HMDA system, including internal pre-submission HMDA audits, reviews of regulatory changes, reporting systems, assigning individuals responsible for oversight and data entry, and employee training. [10/14]
