HMDA relief reflected in 2020 reporting data

The Federal Financial Institutions Examination Council released 2020 Home Mortgage Disclosure Act data showing the impact of regulatory relief on HMDA reporting.

Reporting: The FFIEC said that among the 22.7 million reported home loan applications, 20.4 million were closed-end, 1.7 million were open-end, and 563,000 were not reported either way due to the S. 2155 regulatory relief law's partial exemptions.

Institutions: Further, reporting institutions decreased by roughly 18.8 percent from the previous year to 4,475. The decline was largely due to the Consumer Financial Protection Bureau’s ICBA-advocated 2020 final rule quadrupling the HMDA reporting threshold for closed-end mortgage loans from 25 to 100 loans.