Newsroom

July 21, 2016

CFPB posts new webinar on its HMDA resources

CFPB on Thursday posted a new webinar providing an overview of the Home Mortgage Disclosure Act final rule that also addresses institutional and transactional coverage, the data disclosure and submission process and a reminder of some key dates for those financial institutions required to file.

The bureau also posted a PDF of the sample data collection form from the HMDA final rule.

Last week, new and revised resources for financial institutions required to file HMDA data, including a technology preview for filing system prep, and filing instruction guides for data collected in 2017 and 2018 were published by regulators and are also on CFPB's website.

Most of the new HMDA requirements become effective Jan. 1, 2018. They affect home equity lines of credit, establish transactional thresholds for coverage and expand the number of HMDA data points collected from credit unions.

NAFCU also has a host of HMDA compliance resources available to association members, including charts and guides, articles, webcasts and blog posts.