Proposed Amendments to Regulation C – HMDA

On April 13, the CFPB issued proposed amendments to the HMDA (Regulation C) Rule.  The CFPB describes the changes as being non-substantive in nature, and notes that the proposal is meant to provide “clarifications, technical corrections, or minor changes.” Included in the proposal are revised definitions along with related commentary: Automated Underwriting System:  The proposal would clarify that a system … Read More

Home Mortgage Disclosure Act (Regulation C) Small Entity Compliance Guide

On October 13, 2015, the CFPB amended Regulation C expanding the reporting requirements.  Included in the changes were the definitions of covered institutions and covered transactions, changes to public requests, submission of reports, along with new and modified data fields – for a total of 48 fields. The CFPB released its Compliance Guide that includes the key changes and effective … Read More