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Tag: CFPB

CFPB Issues Final Rule Raising Data Reporting Thresholds Under HMDA

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).

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CFPB Issues Factsheet on Assumptions Under TRID

On May 1, the CFPB issued a factsheet designed to give lenders guidelines for when an assumption of an existing loan by a new consumer requires them to deliver TRID disclosures (Loan Estimate and Closing Disclosure) to the new consumer. 

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Illinois Legislative and Federal Regulatory Update

The Illinois legislature recently amended provisions of its Residential Mortgage License Act (“Act”), effective December 19, 2018.  The Consumer Financial Protection Bureau (“CFPB”) announced the asset-size exemption thresholds for 2019 for Regulation C and Regulation Z.   ILLINOIS HOUSE BILL 5542   Licensees under the Act who are not filing a Mortgage Call Report with […]

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