CFPB: We’re working to make new HMDA implementation easier

CFPB: We’re working to make new HMDA implementation easier

The CFPB has put a lot of effort into simplifying and unifying the mortgage disclosures that are provided to consumers to make it easier for consumers. I think there’s still a lot of work to do to.

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Companies should have already changed their processes, and (ideally) improved them at the same time, in preparation for January’s deadline for implementation. Testing and continuous process improvement throughout 2018 will make it much easier to meet the CFPB’s requirement for periodic hmda data scrubbing. The Rest of the Story

"We’re advocating for hopefully, collecting the new HMDA data to implement in 2017 and then report in 2018," Larson said. "Currently, a lot of the resources are going to the regulatory implementation [of other rules] so inherently that takes away different products and services that those resources can be going to consumers."

WASHINGTON, D.C. – CFPB Highlights June 11th marks the first six months of Director Kathleen L. Kraninger leading the Consumer Financial Protection Bureau. "It is an honor and privilege to serve American consumers. As Director, my focus is to prevent harm to consumers by using all the tools congress gave us, including education, regulation, supervision and enforcement.

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Based on the President’s executive order 13772 on The Core Principles for Regulating the United States Financial System, the American Bankers Association (ABA) submitted a white paper to Treasury Secretary Mnuchin that criticizes the revised Home Mortgage Disclosure Act (HMDA) rule adopted by the CFPB.

That being said, the CFPB issued a final rule amending threshold adjustments for 2016 HOEPA and QM loans, effective January 1st, 2016. The final rule regarding various annual adjustments is required.

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On GOP concerns that his former deputy, Raj Date, is capitalizing on his work at CFPB to make money. head of New York’s Department of Financial Services: “Often the state regulators can sometimes.

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