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CFPB Proposes Changes to HMDA (Regulation C)

Thursday, May 9, 2019   (0 Comments)
Posted by: Chip Deale
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In a new ACMA Community Blog post, ACMA Fellow Ned Graber describes amendments proposed by the Consumer Financial Protection Bureau to Regulation C of the Home Mortgage Disclosure Act (HMDA). The changes, Graber writes, would "provide some relief and/or exemption for lenders making commercial multifamily loans to non-natural persons." He further notes that the amendments would "ease the HMDA reporting requirements by increasing the reporting threshold for qualified mortgages."

On the same day, May 2nd, that the CFPB announced the proposed amendments, the Bureau also issued a separate notice soliciting comments on the costs and benefits of collecting and reporting data added by the 2015 HMDA Rule. Graber's blog post provides details on the notice for comments and the timeline for submission of comments.

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