The Consumer Financial Protection Bureau said it will release this fall a platform for its Home Mortgage Disclosure Act final rule taking effect Jan. 1. The bureau said its release schedule will provide users time to explore and test the platform before the first submission of HMDA data next year.
The CFPB has released several resources for filing HMDA data in 2018, including an updated chart on data collection and reporting, an updated small entity compliance guide, a revised Filing Instructions Guide and a File Format Verification Tool. The resources are available on the bureau’s separate HMDA Implementation Page and Resources for HMDA Filers page.
Meanwhile, ICBA continues working to expand community bank HMDA exemptions. For instance, the Home Mortgage Disclosure Adjustment Act (H.R. 2954), which would exempt low-volume community bank mortgage lenders, passed the House Financial Services Committee last week.
Access HMDA Implementation Page >
Access Resources for HMDA Filers >