CFPB Issues Final Rule Raising Data Reporting Thresholds Under HMDA

April 16, 2020

On Thursday, April 16, the CFPB announced an amendment to Regulation C raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act (HMDA).

This new rule, effective July 1, 2020, will increase the permanent threshold for collecting and reporting data about closed-end mortgage loans from 25 to 100 loans. Likewise, the threshold for collecting and reporting data about open-end lines of credit has increased from 100 to 200, effective January 1, 2022.

For more information about these changes directly from the CFPB, please reference the links below:

Sign up for news + updates

Expert insights and regulatory updates on RegTech, compliance management, and fair lending.

The above statements do not reflect regulatory guidance from Asurity. Please consult your counsel for applicability of this guidance.

Anurag Agarwal, PhD

President, RiskExec

Recommended Resources

Propel™ by Asurity - Case Study: Proprietary LOS Integration

Find out why a top-ten mortgage lender with a proprietary loan origination system (LOS) needed to convert from a legacy document platform.

Reg+Tech Magazine Volume 2 Issue 1

Learn about the changes of state consumer protection and the responsibility of financial services institutions to pursue operational excellence and a culture of compliance.

Reg+Tech Magazine Vol. 1 Issue 2

Regulatory and technology experts discuss innovation, CRA reforms, and how single-close construction loans are reenergizing rural America.