Mortgage industry raises concerns about new HMDA rules

Industry Issues A-Z / Mortgage Rules; Mortgage Rules. Articles & Press Releases. Title: Publication:. Keep Urging CFPB to Raise HMDA Thresholds: NewsWatch Today Article:. the Home Mortgage disclosure act oct 29, 2018, 17:04 PM External URL:

On October 15, 2015, the Consumer Protection Financial Bureau (CPFB) issued final rules for the home mortgage disclosure act (hmda). At first glance, the HMDA rules represent another new compliance issue to tackle, among dozens of others. Take a closer look, however, and something more worrisome jumps out.

Written By: Joel Palmer, Op-Ed Writer The Consumer Financial Protection Bureau (CFPB) announced earlier this month that it is implementing the changes to the Home Mortgage Disclosure Act (HMDA) that were part of the recently passed Economic Growth, Economic Growth, Regulatory Relief, and Consumer P

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As we previously reported, in October 2015, the CFPB adopted significant revisions to Regulation C, the Home Mortgage Disclosure Act (HMDA. did not raise points relevant to the Bureau’s decisions.

In addition to the proposed rule changes for the HMDA home mortgage reporting rules, the CFPB also issued a separate advance notice of proposed rulemaking soliciting comments about the "costs.

Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million President of Falmouth Mortgage Company Pleads Guilty to Fraud. (Ginnie Mae) out of approximately $2.5 million.. Pena was president and founder of the now-defunct mortgage company, Mortgage.

Accordingly, we urge the Bureau to require reporting of HMDA data under this rule no earlier than 24 months after the January 1st following issuance of a final rule. Under HMDA as amended by the Dodd Frank Act, institutions are not required to report new data before the first January 1st that occurs nine months after the Bureau issues the final.

Legal & regulatory issues continue – more below. While you are in NY for the MBA Secondary Conference, pop in and learn more about what is new in the reverse mortgage. rules being considered are.

Among other changes, the rules eliminate some of the legal liability headaches that caused many condo boards to balk at FHA certifications; raise the permissible. giving the industry additional.

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The Consumer Financial Protection Bureau finalized a rule to improve information reported about the residential mortgage market, and a lot of people in the mortgage finance and housing industry.

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