Federal Mortgage Regulations

  • 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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  • HUD Suspends FHA Mortgage Insurance Rate Reduction

    January 20, 2017, HUD issued Mortgagee Letter 2017-07:  Suspension of Mortgagee Letter 2017-01—Reduction of Federal Housing Administration (FHA) Annual Mortgage Insurance (MIP) Rates. HUD issued Mortgagee Letter The Mortgagee Letter communicates that reducing the mortgage insurance premium for loans with closing or disbursement dates on or after January 27, 2017 has been suspended indefinitely.  FHA […]

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  • FFIEC Updates HMDA Technology Platform for Filing LAR

    January 2017, the Federal Financial Institutions Examinations Council (FFIEC)  updated its technology platform for filing the Loan Application Register (LAR) as required by the Home Mortgage Disclosure Act (HMDA).  For HMDA data collected in or after 2017, a web-based data submission and edit-check system (the HMDA Platform) has been created to process HMDA data.

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