Follow updated mortgage transaction reporting thresholds. Explore recent CFPB guidance relating to Regulation C.
Congress enacted the Home Mortgage Disclosure Act (HMDA) to identify discriminatory lending patterns and practices. Implemented by Regulation C, this law requires financial institutions to collect and report data regarding mortgages.
The CFPB has made changes to the transaction reporting thresholds for both closed-end and open-end mortgage loans. Financial institution employees must understand and follow the current requirements.
- What are the changes to the transaction reporting thresholds?
- How does the HMDA institutional coverage test work?
- What transactions are subject to reporting?
- What are the requirements for data collection?
- How must you record, report, and disclose HMDA data?