FFIEC issued a guide to Home Mortgage Disclosure Act (HMDA) reporting for data collected in 2019 and reported in 2020; it also issued an update on the interagency HMDA examination procedures. The guide for HMDA reporting is a valuable resource for assisting all institutions in their HMDA reporting. It includes a summary of responsibilities and requirements, directions for assembling the necessary tools, and instructions for reporting HMDA data. The 2019 edition of the guide reflects amendments made to HMDA by the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act and the 2018 HMDA interpretive and procedural rule issued by CFPB.
The updated guide applies to HMDA data that is to be collected beginning on January 01, 2019 and is to be submitted by March 01, 2020. The guide is intended to assist financial institutions to comply with HMDA and Regulation C by providing helpful background information and an easy-to-use summary of key provisions, including those related to institutional coverage, transactional coverage, and data collection, reporting, and disclosure requirements.
In addition, FDIC and other member agencies of the FFIEC are making updated interagency HMDA examination procedures available to the public. The updates address the EGRRCP Act amendments to HMDA, the 2018 HMDA rule, and amendments to Regulation C made by CFPB final rules issued in 2015 and 2017. FDIC examiners will use the updated interagency HMDA examination procedures in connection with reviews of HMDA data collected in 2018 and beyond.
Keywords: Americas, US, Banking, HMDA, Reporting, EGRRCP Act, Home Mortgages, Disclosures, CFPB, FFIEC
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