September 18, 2023

2024 HMDA filing guide released

The CFPB has released the filing instructions guide for data collected in 2024 – to be reported in 2025 – under the Home Mortgage Disclosure Act (HMDA). The guide breaks down the submission process, file specifications, data specifications, and edits that have been made from the 2023 guide.

Last year, the CFPB issued a technical amendment to the HMDA rule to update Regulation C to reflect the closed-end mortgage loan threshold, in accordance with a court decision. Of note, the closed-end mortgage loan reporting threshold is 25 mortgage loans in each of the two preceding calendar years – the threshold previously established by the 2015 HMDA rule. 

Financial institutions that report for the preceding calendar year with at least 60,000 covered loans and applications must report their HMDA data quarterly in addition to annually.

NAFCU has additional HMDA resources available to credit unions online. The association will continue to engage the CFPB to limit regulatory burden on credit unions.