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 […]
Tag: Regulation C
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 […]
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 […]
FFIEC RELEASES CENSUS FLAT FILES AND MEDIAN FAMILY INCOME REPORT
Recently, the Federal Financial Institutions Examination Council (FFIEC) releases the FFIEC Census Flat Files and the Median Family Income Report. The FFIEC Census Flat Files are a convenient method of accessing and analyzing the FFIEC census data that are used to create the HMDA and CRA Aggregate and Disclosure Reports. They contain over 1,000 fields of census data and are updated annually to reflect changes to MSA/MD boundaries announced by the Office of Management and […]
SMALL BUSINESS LENDING RULE DELAYED
On June 27, 2022, the Office of Management and Budget published the Spring 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Agenda breaks down rules from over 60 federal departments, agencies, and commissions. In the list of actions from the Consumer Financial Protection Bureau (CFPB) is an announcement that the final rule for Small Business Lending Data Collection Under the Equal Credit Opportunity Act is not expected until March 2023. The rule will […]