Compliance for 2023: What does the future hold?
With uncertainty the rule, the best advice is to have banks’ change-management processes ready for whatever comes.
Browsing: HMDA
ABA, trade groups call for formal HMDA guidance
Lenders need assurances regarding legal and examination risk plus time for lenders to install or refine HMDA systems and achieve compliance.
CFPB: Enforcing new closed-end mortgage HMDA rules not currently high-priority
CFPB said banks may need time to implement or adjust policies, procedures, systems and operations to comply with reporting obligations.
Court overturns HMDA reporting threshold for small entities
A federal judge recently moved to vacate CFPB regulations that expanded the number of small-volume lenders deemed exempt from Home Mortgage Disclosure Act reporting requirements. I
Agencies release HMDA data for 2021
The share of mortgages originated by nonbanks continues to climb, accounting for 63.9% of home-purchase loans, up from 60.7% in 2020.
ABA Regulatory and Compliance Inbox: Can We Base Mortgage Credit Decisions on the Assets of the Borrower?
What would my bank report if instead of income it based the credit decision on the assets of the borrower?
ABA, Trade Groups: HMDA Compliance Costs, Burdens Remain High
As the CFPB undertakes its planned assessment of the 2015 Home Mortgage Disclosure Act regulations…
CFPB Issues RFI on HMDA Rules
The CFPB today announced that it will undertake a review of its rules implementing the 2015 changes to the Home Mortgage Disclosure Act regulations.
CFPB: Closed-End Mortgage Loans Increased in 2020
Closed-end mortgage originations increased 65.2% in 2020, driven primarily by an increase in mortgage refinance loans, according to a new review of Home Mortgage Disclosure Act data released by the Consumer Financial Protection Bureau today.
Must the Bank Update the Loan Estimate if It Becomes Aware of Increases to Fees Unrelated to Extension of Rate Lock Agreement?
Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.