HUD: Commemorating National Fair Housing Month 2021
The U.S. Department of Housing and Urban Development (HUD) today kicked off Fair Housing Month 2021. This year’s Fair Housing Month theme, Fair Housing: More Than Just Words, reflects the Biden-Harris Administration’s commitment to advancing equity in housing and the importance of increasing public awareness of everyone’s right to fair housing. “Fair Housing Month is a…
CFPB: 2020 HMDA Data on Mortgage Lending Now Available
Today, the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2020 were published on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,400 HMDA filers. The published data contain loan-level information filed by financial institutions, modified to protect privacy. “HMDA data can help determine whether financial institutions are serving…
CFPB: Agency Clarifies that Discrimination by Lenders on the Basis of Sexual Orientation and Gender Identity is Illegal
Industry is on notice that Bureau will not tolerate illegal discrimination against the LGBTQ+ community Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act (ECOA) and Regulation B includes sexual orientation discrimination and gender identity discrimination. This prohibition also covers discrimination based…
HUD: Fair Housing Act Will Be Enforced to Prohibit Discrimination on the Basis of Sexual Orientation or Gender Identity
HUD directive begins implementation of the policy set forth in Biden executive order to prevent and combat sexual orientation and gender identity-based discrimination The U.S. Department of Housing and Urban Development (HUD) today announced that it will administer and enforce the Fair Housing Act to prohibit discrimination on the basis of sexual orientation and gender…
CFPB: Advisory Opinion Issued to Help Expand Fair, Equitable and Nondiscriminatory Access to Credit
Today, the Consumer Financial Protection Bureau (Bureau) issued an advisory opinion to address regulatory uncertainty regarding Regulation B, which implements the Equal Credit Opportunity Act (ECOA), as it applies to certain aspects of special purpose credit programs (SPCPs). The ECOA and Regulation B prohibit discrimination on certain prohibited bases in any aspect of a credit…
CFPB: Report Released on Implementing the Dodd-Frank Act’s Small Business Lending Data Collection Requirement
The Consumer Financial Protection Bureau (Bureau) released a panel report today as part of its rulemaking process under Dodd-Frank Act Section 1071 governing the collection and reporting of small business lending data. A panel was convened pursuant to the Small Business Regulatory Enforcement Fairness Act, comprised of representatives of the Bureau, the Office of Advocacy…
CFPB: Two Final Rules Issued to Promote Access to Responsible, Affordable Mortgage Credit
Today, the Consumer Financial Protection Bureau (Bureau) issued final rules related to qualified mortgage (QM) loans. Lenders are required under the law to determine that consumers have the ability to repay mortgage loans before lenders make those loans. Loans that meet legal standards for QM loans are presumed to be loans for which consumers have…
FHFA: Debra Chew Announced as Director for the Office of Equal Opportunity and Fairness
The Federal Housing Finance Agency (FHFA) today announced that Debra Chew will join FHFA as Director for the Office of Equal Opportunity and Fairness (OEOF) on September 28, 2020. OEOF was created in January 2020 to elevate the importance of Equal Employment Opportunity (EEO), Alternative Dispute Resolution, and anti-harassment functions within FHFA and reaffirm FHFA’s…
CFPB: Analysis of 2019 HMDA Data Points Issued
Today the Consumer Financial Protection Bureau (Bureau) issued a new Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data. This data article is the second in a series and follows the first article published in June of this year. The Home Mortgage Disclosure Act (HMDA) is a data collection, reporting, and disclosure statute that was…
FFIEC: Availability of 2019 HMDA Data on Mortgage Lending Announced
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2019 mortgage lending transactions at 5,508 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive publicly available information on mortgage market…