FDIC: FFIEC Revises A Guide to HMDA Reporting: Getting It Right!
The Federal Financial Institutions Examination Council (FFIEC) has revised A Guide to HMDA Reporting: Getting It Right! to reflect the October 2015 Home Mortgage Disclosure Act (HMDA) final rule, as amended in 2017. This compliance resource should help financial institutions better understand the final rule’s requirements, including the data collection and reporting provisions. Statement of…
Federal Reserve: Expectations for Supervised Institutions Regarding Amended Regulation C
Expectations for Supervised Institutions Regarding Amended Regulation C Applicability to Community Banking Organizations: This guidance applies to all institutions supervised by the Federal Reserve, including those with total consolidated assets of $10 billion or less. This letter provides guidance on the Federal Reserve Board’s supervisory expectations in connection with early examinations of Board-supervised institutions for…
FDIC: Home Mortgage Disclosure Act Statement on Institutions’ Good Faith Compliance Efforts
Printable Format: FIL-63-2017 – PDF (PDF Help) Summary: The FDIC is issuing a statement regarding the evaluation of financial institutions’ compliance with the Home Mortgage Disclosure Act (HMDA), implemented by Regulation C. Specifically, for HMDA data collected in 2018 and reported in 2019, the FDIC does not intend to require data resubmission unless data errors…
CFPB: Public Statement on Home Mortgage Disclosure Act Compliance
Bureau Does Not Intend to Assess Penalties for Errors in Data Collected in 2018, and Plans to Reconsider Aspects of Mortgage Data Rule The Consumer Financial Protection Bureau (CFPB) today issued a public statement announcing that the Bureau does not intend to require data resubmission unless data errors are material or assess penalties with respect…
Federal Reserve: Regulation C Repealed and Public Comment Sought on Proposed Revisions to Regulation M
The Federal Reserve Board on Monday announced the repeal of one regulation and the revision of a second to reflect the transfer of certain consumer protection rulewriting authority to the Consumer Financial Protection Bureau (CFPB). The Board is publishing a final rule to repeal Regulation C (Home Mortgage Disclosure), which has been superseded by final…
Joint Release: Agencies Amend CRA Regulations to Conform to HMDA Regulation Changes and Remove References to the Neighborhood Stabilization Program
The federal bank regulatory agencies have amended their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Since 1995, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and…
Joint Release: Designated Home Mortgage Disclosure Act Key Data Fields
From Federal Reserve Board release: The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have revised the list of Home Mortgage Disclosure Act (HMDA) key data fields that their respective examiners will use in connection with validating the accuracy…
OCC: Acting Comptroller of the Currency Issues Statement Regarding Home Mortgage Disclosure Act Reporting
The Office of the Comptroller of the Currency (OCC) today issued a bulletin to inform national banks, federal savings associations, and insured federal branches and agencies of foreign banks about key fields examiners will typically use to validate the accuracy and reliability of home mortgage loan data collected beginning in 2018 pursuant to the Home…
FDIC: Upcoming Banker Teleconference on HMDA 2018 Implementation
Printable Format: FIL-47-2017 – PDF (PDF Help) Summary: The FDIC will discuss implementation of the 2015 Home Mortgage Disclosure Act Final Rule regarding requirements that become effective beginning in 2018. A teleconference is scheduled for Thursday, October 26, 2017, from 1:30 p.m. to 3:00 p.m. Eastern Time. Advance registration is required. The Federal Deposit Insurance…