FFIEC Publishes Guide to HMDA Reporting for Data Collected in 2019
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.
Related Links
Keywords: Americas, US, Banking, HMDA, Reporting, EGRRCP Act, Home Mortgages, Disclosures, CFPB, FFIEC
Featured Experts
Laurent Birade
Advises U.S. and Canadian financial institutions on risk and finance integration, CCAR/DFAST stress testing, IFRS9 and CECL credit loss reserving, and credit risk practices.
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Previous Article
ECB Publishes Its Annual Report for 2018Related Articles
BoE Clarifies Approach to Treatment of Payment Holidays on Form PL
BoE published a statistical notice (Notice 2020/9) explaining the approach for treatment of payment holidays on the profit and loss return or Form PL.
BoE Provides Reporting Update on Form AS and Form FV
BoE updated the known issues document for the statistical reporting Forms AS and FV.
BIS Publishes Update on G20 TechSprint Initiative
BIS published an update on the G20 TechSprint Initiative, which was launched in April 2020 and aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges.
FED Announces Capital Requirements for Large Banks
FED announced individual capital requirements for 34 large banks and these requirements go into effect on October 01, 2020.
SRB Publishes Guidance on Implementation of Bail-In Tool
SRB published a set of documents to give operational guidance to banks on implementation of the bail-in tool.
OSFI Provides Update on Implementation of IFRS 17 in Canada
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
EBA Provides Clarity on Implementation of Guidance on COVID Reporting
EBA updated the report on the implementation of selected COVID-19 policies.
FSI Note Discusses Challenges Associated with COVID Relief Measures
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS Consults on Principles for Operational Risk and Resilience
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE Updates Template and Definitions for Form ER
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
