Mortgage industry raises concerns about new HMDA rules

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2018 HMDA Interpretive and Procedural Rule On August 31, 2018, the Bureau of Consumer Financial Protection (Bureau) issued an interpretive and procedural rule to implement and clarify changes made by section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) to the Home Mortgage Disclosure Act (HMDA).

Start studying MBA Industry Issues. Learn vocabulary, terms, and more with flashcards, games, and other study tools.. -DFA mandated the enactment of comprehensive rules that covers all parts of the mortgage servicing process.. On October 15, 2015, the CFPB issued a new final HMDA rule that significantly expands the data points to be.

 · As we previously reported, in October 2015, the CFPB adopted significant revisions to Regulation C, the Home Mortgage Disclosure Act (HMDA) rule, most of which become effective January 1, 2018. As a result of the revisions, the reporting of home equity lines of credit (HELOCs) under HMDA, which is currently voluntary, will become mandatory for both depository institutions and non.

The mortgage bankers association. tell the CFPB that the multifamily housing industry experiences “unwarranted regulatory burdens and privacy issues” due to the “unnecessary application” of HMDA.

Foreclosure delays beginning to wear off: RealtyTrac Zillow: 30-year FRMs drop for second week in a row. – Foreclosure delays beginning to wear off: RealtyTrac RealtyTrac Reports Archives | ATTOM Data Solutions – Foreclosure Activity Below Pre-Recession Levels in 57 Percent of Metro Areas; Foreclosure Starts Up in 24 Percent of Markets Including Dallas, Denver,

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The Mortgage Industry In Three Slides Accordingly, we urge the Bureau to require reporting of HMDA data under this rule no earlier than 24 months after the January 1st following issuance of a final rule. Under HMDA as amended by the Dodd Frank Act, institutions are not required to report new data before the first January 1st that occurs nine months after the Bureau issues the final.

The Bureau of Consumer Financial Protection (Bureau) is amending Regulation C to make technical corrections to and to clarify certain requirements adopted by the Bureau’s Home Mortgage Disclosure (Regulation C) final rule (2015 HMDA Final Rule), which was published in the Federal Register on.

Mortgage applications shoot up 14.8% Mortgage Applications Shoot Up 21 Percent. Share This Post Now! Mortgage applications increased 21.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA.Mortgage applications rise 11.7% FHFA delays principal reduction ruling The Federal Housing Finance Agency’s one-time principal reduction plan being offered to an estimated 33,000 delinquent, underwater borrowers "represents a ‘win-win’ plan that will benefit both borrowers and the Enterprises," Director Mel Watt told NAFCU’s Carrie Hunt in a letter Friday. NAFCU opposes the plan.MBA data shows mortgage applications on the rise – Finance. –  · Last week, the average loan size for purchase mortgage applications hit an all-time high, according to the most recent data from the Mortgage Bankers Association. The data is courtesy of the MBA’s Weekly Mortgage Applications Survey for the week ending on March 3, 2017. The data showed that the average loan size for purchase applications [.]

Lenders should already be implementing the upcoming HMDA changes. Implementation is complex, and the time to start has passed. by Kathy Keller. Just as the mortgage industry has started to emerge from the challenges of "Know Before You Owe" (TRID), revisions to the Home Mortgage Disclosure Act (HMDA) are fast approaching.

The Mortgage Bankers Association and a half-dozen other industry trade groups urged the Consumer Financial Protection Bureau to increase the threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans.