As we have reported, the Consumer Financial Protection Bureau (CFPB) released a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), requiring “Covered Institutions” to report certain information about mortgage applications and loans in efforts to create transparency in the mortgage lending process. In connection with the revisions, beginning with data collected in 2017, Covered Institutions will file HMDA data with the CFPB rather than the Federal Reserve Board.
On July 13, 2016, the FFIEC and HUD published the following resources: filing instructions for HMDA data collected in 2017; filing instructions for HMDA collected in 2018; technology preview of the HMDA Platform; and frequently asked questions. These resources can be found on the CFPB website and on the FFIEC website. The filing instructions are updated versions of file specifications for 2017 and 2018 HMDA data that were released earlier this year.
In addition, the CFPB has posted a webinar recently conducted by the CFPB staff that provides an overview of the HMDA final rule.