The CFPB has announced that it is taking the first step in proposing regulations to modify Regulation C, the implementing regulation to the Home Mortgage Disclosure Act (HMDA). As most mortgage lenders know, HMDA and Regulation C require most mortgage lenders to provide information related to the mortgage loans they originate or for which they receive an application.
The first step in the CFPB rulemaking process is to convene a small business panel (SBREFA) to provide feedback on the CFPB’s proposal. Accordingly, the CFPB is announcing the formation of the SBREFA panel and it also is providing insight into the changes to Regulation C that it is contemplating. These changes include...
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