CFPB Amends Home Mortgage Disclosure Act (HMDA) Regulations

The CFPB adopted regulations amending the Home Mortgage Disclosure Act (HMDA). The adopted rules make technical corrections to, and clarify requirements of, the HMDA final rule adopted in October 2015. The CFPB also increased the threshold for collecting and reporting data for open-end lines of credit to two years so that lenders originating fewer than 500 open-end lines of credit in either of the preceding two years are not required to begin collecting such data until January 1, 2020. The rule adoption is generally effective January 1, 2018. However, certain provisions are effective January 1, 2017 and January 1, 2020.

Click here to view the CFPB Rule Adoption – Technical Corrections to 2015 Home Mortgage Disclosure Act Rule