Federal Mortgage Regulations

  • CFPB Issues HMDA Public Statement

    On December 21, 2017, the CFPB issued a public statement with respect to the recently effective HMDA rule. For HMDA data collected in 2018 and reported in 2019, “the Bureau does not intend to assess penalties with respect to errors in data collected in 2018 and reported in 2019.” Examinations of 2018 HMDA data will be diagnostic to help institutions identify compliance weaknesses and will credit good faith compliance efforts.

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  • New England Mortgage Expo 2018

    CLA is proud to speak and exhibit at The New England Mortgage Expo on January 12, 2018 at the Mohegan Sun. CLA Bankers Advisory principal, Marissa Blundell, will be speaking from 1:15 – 2 p.m. during the 2018 HMDA Impact on Fair Lending Compliance session.

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  • OCC Issues Guidance for Impact of CRA Ratings on Licensing Applications

    November 8, 2017, the Office of the Comptroller of the Currency (OCC) issued this guidance to provide transparency regarding its framework for evaluating certain types of licensing applications.

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  • CFPB Finalizes Equal Credit Opportunity Act Regulation

    September 20, 2017, the Consumer Financial Protection Bureau (CFPB) modified Equal Credit Opportunity Act (Regulation B) regulations to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information.

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  • CFPB Clarifies HMDA Reporting Thresholds for Community Banks and Credit Unions

    On August 24, 2017, the Consumer Financial Protection Bureau (CFPB) issued a rule amending the 2015 updates to the Home Mortgage Disclosure Act (HMDA) rule. The CFPB has temporarily changed reporting requirements for banks and credit unions that issue home-equity lines of credit, and clarified the information that financial institutions are required to collect and report about their mortgage lending.

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  • FFIEC Issues HMDA Examiner Transaction Testing Guidelines

    On August 23, 2017, the Federal Deposit Insurance Corporation (FDIC) issued Financial Institution Letter FIL 2017-36. The letter announces that the Federal Financial Institutions Examination Council (FFIEC) is issuing guidelines for examiners to use in assessing the accuracy of the Home Mortgage Disclosure Act (HMDA) data institutions record and report.

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  • CFPB Releases State-level Snapshot of Consumer Complaints

    June 27, 2017, the Consumer Financial Protection Bureau (CFPB) released a special edition of its monthly complaint report, providing a snapshot of consumer complaints submitted across the country. For each state and the District of Columbia, the report provides statistics on complaint volume, the products and services generating the most complaints, company response rates, and […]

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  • CFPB Issues Notice of ATR/QM Assessment and Requests Comment

    May 25, 2017, the Consumer Financial Protection Bureau released details of its plan to assess the 2014 Ability to Repay (ATR) and Qualified Mortgage (QM) Standards (ATR/QM Rule) and requested comments. Comments are due by July 31, 2017.

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  • OCC Issues Retail Lending Booklet

    April 12, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-15 “New Comptroller’s Handbook Booklet” announcing its issuance of a new “Retail Lending” booklet.

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  • CFPB Proposes Amendments to ECOA to Provide More Flexibility for Lenders

    The Consumer Financial Protection Bureau (CFPB) has issued proposed changes to the Equal Credit Opportunity Act in order to provide lenders with additional flexibility when collecting consumer ethnicity and race information.

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