CFPB updates HMDA guidance

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The CFPB has updated the Home Mortgage Disclosure Act guidance that is available on its resource webpage for HMDA filers.  Updates were made to the Technology Preview, the Filing Instruction Guides for both data collected in 2017 and data collected in 2018 and subsequent years, and the Frequently Asked Questions.

In the FAQs, the CFPB notes that the new internet-based HMDA Platform for the submission of HMDA data is expected to be available in the third quarter, and that once the Platform is available companies will be able to register for login credentials and establish an account.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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