RegAlert

Frequently Asked Questions Relating to TRID

Today the CFPB posted four Frequently Asked Questions relating to TRID. Three of the questions relate directly to corrected closing disclosures and the three business-day waiting period before consummation and the fourth question relates to the model forms. You can read the CFPB questions and Read More

HMDA Alert

2019 HMDA Asset-Size Exemption

The Consumer Financial Protection Bureau announced the adjusted asset-size exemption threshold for depository institutions for HMDA (Regulation C). The exemption threshold has been increased from $45 million to $46 million. Based on this adjustment, banks, savings associations, and credit unions Read More

HMDA Alert

Data Points Covered by Partial Exemptions

The Bureau of Consumer Financial Protection issued an interpretive and procedural rule on August 31, 2018, to implement and clarify section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act, which amended certain provisions of the Home Mortgage Disclosure Act (HMDA). The Read More

Home Mortgage Disclosure Act (FHA Requirements)

Have you revised your Quality Control Program yet to meet the new reporting requirements for HMDA? If not, it could play a part in your ability to sell loans to certain government agencies. FHA in particular requires that a lender’s Quality Control Program be compliant with the Home Mortgage Read More