CFPB turns its reg relief focus to HMDA
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation C to make technical corrections to and to clarify certain requirements adopted by the Bureau’s Home Mortgage Disclosure (Regulation C) final rule (2015 HMDA Final Rule or the Final Rule), which was published in the Federal Register on Oct. 28, 2015.
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New Government Monitoring Information (GMI) Demographic fields. On September 28, 2016 the CFPB issued a notice detailing its approval of the use of the new 2016 Uniform Residential loan application (urla) for the expanded collection of information relating to ethnicity and race under the Home Mortgage Disclosure Act (HMDA).
The Consumer Financial Protection Bureau proposed steps Thursday to ease reporting requirements under the Home Mortgage Disclosure Act, just days after the agency announced it was eliminating an online platform for analyzing raw HMDA data.
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CFPB turns its reg relief focus to HMDA CFPB turns its reg relief focus to HMDA The Consumer Financial Protection Bureau proposed steps to ease home mortgage disclosure act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
But there is some relief on the horizon as HMDA enforcement was just defanged by the now Trump-led regulators.. HMDA enforcement defanged by Trump-led regulators. CFPB must end regulation by.
Congress enacted HMDA in 1975 to root out discrimination in mortgage lending. The CFPB and other prudential regulators use the data to examine and identify fair-lending violations. In a notice on its web site announcing the removal of HMDA Explorer, the CFPB said the FFIEC plans to make a new tool available in the coming months.
Rising rates now affecting purchase mortgage application activity · When a loan officer gets your mortgage application, they may use a pricing grid to figure out how your credit scores affect your interest rate, says Yves-Marc Courtines, a chartered financial analyst with Boundless Advice. Generally, higher scores can mean a lower interest rate, and vice versa.
Congress enacted HMDA in 1975 to root out discrimination in mortgage lending. The CFPB and other prudential regulators use the data to examine and identify fair-lending violations. In a notice on its web site announcing the removal of HMDA Explorer, the CFPB said the FFIEC plans to make a new tool available in the coming months. Kraninger, who has been on the job at the CFPB for just four months, was named the chair of the FFIEC in April.
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