I am an avid fan of the show Blindspot! For those of you who are not familiar, it revolves around a mysteriously tattooed woman found in a bag in Times Square who has lost her memory and does not know her identity. The FBI discovers that her tattoos contain clues to crimes they have to solve. One tattoo is revealed and investigated per episode and the crime is solved in the one-hour episode. I sometimes […]
Category: HMDA
PHASE II OF THE HMDA REVISIONS
Implementing revised HMDA rules is a monumental task by any measure. The first phase is to determine scope and coverage, collect the data, and submit it to the CFPB. The second phase involves analyzing the data and determining the story told by that data. The scope of institutions covered by the revised rules has changed. The types of loans that are HMDA-reportable under the revised rules has changed. The list of information that must be […]
CFPB STANDS IN WAY OF SOLUTION TO HMDA REPORTING PROBLEM
Collection of 2017 HMDA data begins in less than two months. The Consumer Financial Protection Bureau announced last summer in its 2017 Filing Instructions Guide (FIG) that beginning with the HMDA data collected in 2017, filers will submit their HMDA data to the Consumer Financial Protection Bureau (CFPB) using a web interface referred to as the HMDA Platform. The HMDA Platform has not been released. That puts the industry in the awkward position of collecting 2017 […]
REGULATION B AND THE NEW UNIFORM RESIDENTIAL LOAN APPLICATION
On September 23 the Consumer Financial Protection Bureau (CFPB) published an Official Approval concerning the new Uniform Residential Loan Application and the collection of expanded Home Mortgage Disclosure Act information about ethnicity and race in 2017. The official approval was issued on September 23, 2016. Entities may rely on the official approval beginning January 1, 2017. The official approval is issued separately from, and without amending, the official interpretations to Regulation B contained in Supplement […]
HMDA FIG PUBLISHED
The much anticipated Filing Instructions Guide (FIG) has been published by the Consumer Financial Protection Bureau (CFPB). Actually the CFPB has published two FIGs – one for data collected in 2017 and one for data collected in 2018 or later. The 2017 FIG is 47 pages in length. The 2018 Guide is 78 pages in length. Both are dated July 2016. The CFPB has also published a Technology Review and Frequently Asked Questions documents, […]