The federal bank regulatory agencies are announcing the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!” (2023 guide). The 2023 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR 1003). The 2023 guide reflects a technical amendment to the 2020 HMDA rule to adjust the loan volume thresholds effective January 1, 2023,2 for reporting HMDA data on […]
Category: HMDA
LET THE ANALYSIS BEGIN
Modified Home Mortgage Disclosure Act (HMDA) data for 2022 submissions from 4,394 filers are now available on the Federal Financial Institutions Examination Council (FFIEC) website. A downloadable modified (to protect consumer privacy) LAR file is available for every financial institution that has completed a HMDA data submission for 2022. The data is typically used to: Verify the data you submitted a few weeks ago is properly presented. Compare your institution’s data to the data from […]
FINAL THRESHOLD UPDATE FOR 2022
I bet you thought that you were all wrapped up on your compliance news for 2022, huh? Well…not so fast! On December 28, 2022, The CFPB released the final HMDA threshold and the remaining Regulation Z thresholds. The HMDA threshold was increased from $50 million in 2022 to $54 million in 2023. The HPML Small Creditor Threshold was increased from $2.336 billion to $2.537 billion in 2023. The HPML Intermediate Creditor Threshold was increased from […]
Are you one of the 1,700 new HMDA reporting institutions? Here’s where to start.
On December 6, 2022, the CFPB issued a Notice rescinding its 2020 Home Mortgage Disclosure Act (HMDA) Final Rule changing the loan volume reporting threshold for closed-end mortgage loans. This was in response to a ruling by the United States District Court for the District of Columbia, in September of this year which stated that the CFPB did not have the authority to change the original reporting threshold from 25 to 100. In the notice the CFPB […]
CFPB Rescinds its 2020 HMDA Threshold Ruling
Yesterday, the CFPB issued a Notice rescinding its 2020, Home Mortgage Disclosure Act (HMDA) Final Rule changing the loan volume reporting threshold for closed-end mortgage loans. This comes on the heels of a ruling by the United States District Court for the District of Columbia, in September of this year. The ruling stated the CFPB did not have the authority to change the original reporting threshold from 25 to 100. The April 2020, the CFPB’s […]