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On September 26, 2017 Fannie Mae and Freddie Mac (the GSEs) published guidance on the implementation timeline for the redesigned Uniform Residential Loan Application (URLA). Demographic Information Addendum The Consumer Financial Protection Bureau (CFPB) has finalized their Technical Corrections and Clarifying Amendments to the Home Mortgage Disclosure Act (HMDA) Regulation C. The GSEs have updated the Demographic Information Addendum based on this final rule. The changes were made only to the form instructions and not

Earlier today the Consumer Financial Protection Bureau (CFPB) updated several Home Mortgage Disclosure Act (HMDA) tools available on their website. The updates are the result of recent amendments to Regulation C. The updated tools (click link to access) include the: 2018 HMDA institutional coverage chart , 2018 HMDA transactional coverage chart , and Key dates timeline . For additional information about recent HMDA revisions click on the following links: Proposed HMDA Disclosure Policy; HMDA Examiner Transaction Testing Guidelines;

Last week bankers from seven states gathered in Lexington, KY for Compliance Resource’s Annual Compliance Academy. The program covered a full range of lending and deposit compliance and BSA/AML topics. The final revisions to Regulation B were covered in the school on the date they were published by the CFPB; that’s up-to-date content. In addition to the material presented by the faculty the participants learned from each other in case studies. They discovered that most

On September 20 the Consumer Financial Protection Bureau (CFPB) published proposed policy guidance describing the Home Mortgage Disclosure Act (HMDA) data the CFPB proposes to make available to the public beginning in 2019, including modifications to protect consumers’ privacy. The Home Mortgage Disclosure Act requires many lenders to report and disclose to the public certain information about their mortgage lending activities. HMDA data is used for a variety of purposes, including: to monitor whether financial

On September 20, 2017 the Consumer Financial Protection Bureau (CFPB) published final revisions to Regulation B, which implements the Equal Credit Opportunity Act (ECOA), to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information. Regulation B includes restrictions regarding lenders’ ability to ask consumers about their race, color, religion, national origin or sex, except in certain circumstances. These circumstances include required collection of the information for some mortgage applications