Home Mortgage Disclosure Act

News & Analysis as of

Supervisory Highlights

In This Issue: - Introduction - Supervisory observations ..Consumer reporting ..Debt Collection ..Deposits ..Mortgage servicing ..Student loan servicing ..Fair Lending: CFPB’s HMDA...more

Mississippi Regulatory Compliance Group Quarterly Report Vol. 25 No.3

In This Report: - Good News on Fair Lending - We Knew It Was Coming; CFPB Proposes HMDA “Plus” Rules - CFPB Guidance on Mortgage Brokers Changing to Mini-Correspondent Lenders - When Laws...more

HMDA, HMDA, HMDA

The Bureau has released updated Home Mortgage Disclosure Act data, updating its massive database to include 17 million records from 2013. Anyone can now go to the website and slice and dice more than 130 million records to...more

Leading industry trade groups comment on HMDA/Reg. C proposal

Six leading industry trade groups have submitted a letter commenting on the CFPB’s proposed rule amending Regulation C to expand Home Mortgage Disclosure Act data reporting requirements. The trade groups consist of the...more

CFPB Report on Manufactured Housing Signals Areas of Future Concern

On Tuesday, the Consumer Financial Protection Bureau (“CFPB” or the "Bureau") released a white paper summarizing their research on the manufactured housing industry. The Bureau relied upon information compiled by various...more

Only 28 Days Left to Submit Comments Regarding the CFPB’s Proposed Modifications to Home Mortgage Disclosure (Regulation C)

The Consumer Financial Protection Bureau (“CFPB”) has published for public comment, a proposed rule amending Regulation C to implement amendments to the Home Mortgage Disclosure Act (HMDA). The HMDA requires certain financial...more

FFIEC and CFPB Announce Updates To Web-Based HMDA Database And Tools

On September 22, the FFIEC announced an update to its online database for analyzing HMDA data and the CFPB announced updates to the agency’s corresponding HMDA tools. Originally launched in September 2013, the tool focuses on...more

Proposed Rules Published on Dodd-Frank Changes to Home Mortgage Disclosure Regulations

On August 29, 2014, the Bureau of Consumer Financial Protection (the “Bureau”) issued a proposed rule and request for public comment on changes to its Regulation C (Home Mortgage Disclosure) to implement changes to the Home...more

NY Attorney General Files Redlining Lawsuit Alleging Mortgage Discrimination

The New York Attorney General filed a complaint this week in a New York federal court against a national bank headquartered in the state and its holding company alleging that the defendants violated the federal Fair Housing...more

HMDA proposed rule published in Federal Register

The proposed rule amending the Home Mortgage Disclosure Act and its implementing regulation, Regulation C, was published in the Federal Register today. As such, the official comment deadline will be October 29, 2014. We...more

CFPB Proposal Would Make 'HMDites' Of Us All

On July 24, the Consumer Financial Protection Bureau published long-awaited proposed revisions to its Home Mortgage Disclosure Act rules. The 573-page proposed rule would make sweeping changes to Regulation C, which...more

Proposed Data Reporting Rule Issued

If you are looking for some light reading these last few weeks of summer, you might want to take a look at the recently released proposed rule regarding changes to the Home Mortgage Disclosure Act (HMDA) also known as...more

SPECIAL ALERT: CFPB Proposes Significant Expansion Of HMDA Reporting Requirements

On July 24, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a proposed rule that would expand the scope of the Home Mortgage Disclosure Act (HMDA) data reporting requirements and streamline certain...more

CFPB Proposes Significant Changes to HMDA Reporting Requirements

The Consumer Financial Protection Bureau (“CFPB”) has issued proposed amendments to Regulation C, the regulation that implements the Home Mortgage Disclosure Act (“HMDA”). The proposed amendments would revise the tests for...more

Just When You Thought It Was Safe to Take a Summer Vacation: CFPB Proposes Extensive New HMDA Rules

Last Thursday, the Consumer Financial Protection Bureau (CFPB) published its long-awaited new proposed revisions to its Home Mortgage Disclosure Act (HMDA) rules. The 573-page proposed rules would make sweeping changes to...more

CFPB expands HMDA reporting requirements

The CFPB issued a proposed rule amending Regulation C to expand data reporting requirements for mortgage industry participants. The proposed rule is 573 pages and our Mortgage Banking Group will analyze the proposal and work...more

CFPB Proposes Amendments to Home Mortgage Disclosure Act

The CFPB has proposed a rule to improve information reported about the residential mortgage market. According to the CFPB, the rule would shed more light on consumers’ access to mortgage credit by updating the reporting...more

The Bureau's Pursuit of Fair Lending

By now it is a known fact that one of the most important features of an examination conducted by the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a rigorous review of fair lending compliance. So, given its...more

CFPB Releases Rulemaking Agenda

The CFPB published its semi-annual update of its rulemaking agenda. The rulemaking agenda includes rulemaking actions in the pre-rule, proposed rule and final rule states, as well as long term actions and completed actions. ...more

CFPB Report Recaps Fair Lending Activities

On April 30, the CFPB published its second annual report to Congress on its fair lending activities. According to the report, in 2013 federal regulators referred 24 ECOA-related matters to the DOJ—6 by the CFPB—as opposed to...more

CFPB Releases Second Fair Lending Report

The CFPB released its second Fair Lending Report to Congress last week, summarizing the Bureau’s fair lending actions in the last year and a half. The Report highlighted the Bureau’s creation and implementation of a...more

CFPB payday loan proposal for rulemaking is coming, but timing of its publication remains unclear

At the Practicing Law Institute’s 19th Annual Consumer Financial Services Institute held on Monday in New York City, Meredith Fuchs, Associate Director & General Counsel for the CFPB delivered the opening keynote address,...more

CFPB updated report on strategic plan, budget and performance plan shows increased spending and growth

The CFPB has issued an updated report on its strategic plan, budget, and performance plan. The report, which mostly reassembles information contained in other CFPB reports, discusses the CFPB’s progress in meeting the...more

CFPB Begins Process for Amending HMDA Reporting Requirements

As a first step in its process to amend the Home Mortgage Disclosure Act reporting requirements “to make it easier for mortgage lenders to provide better information,” and to “seek to assess whether there are opportunities to...more

CFPB Will Hold Consumer Advisory Board Meeting

The Consumer Advisory Board will host a meeting on February 26-27, 2014 to discuss strategies for improving consumer access to credit, information and financial resources. Agenda topics include trends and themes in the field...more

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