CFPB Publishes New Chart as Reference Tool for HMDA Data

WASHINGTON—The CFPB has published a new chart – Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart – that is intended to be used as a

HMDA

reference tool for those data points required to be collected, recorded and reported under the Home Mortgage Disclosure Act (HMDA) in 2019.

The filing period for HMDA data collected in 2018 officially opened Jan. 1. In October, the Bureau released its filing instruction guide for data collected this year. The guide provides technical instruction on filing data collected in 2019 and reportable in 2020.

The chart combines a reportable data chart summary, the filing instructions from the 2019 filing instructions guide and when to report "not applicable." The reference tool accounts for the final rules issued in October 2015, August 2017, and this past August that implemented statutory amendments to HMDA that were passed as part of S. 2155, exempting certain credit unions from collecting and reporting on certain data points added to HMDA by the Dodd-Frank Act, NAFCU explained.

In its fall rulemaking agenda, the Bureau indicated that it plans to issue a rule this year to adjust collection and reporting thresholds under HMDA. It will also pursue clarification on S. 2155 provisions that might not require a rulemaking for implementation, NAFCU noted.

Section: Standard
Word Count: 271
Copyright Holder: CUToday.info
Copyright Year: 2019
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URL: http://www.cutoday.info/Fresh-Today/CFPB-Publishes-New-Chart-as-Reference-Tool-for-HMDA-Data