The CFPB announced an extension for the comment period on its Advance Notice of Proposed Rulemaking relating to the Home Mortgage Disclosure Act. The extension will now give interested parties an opportunity to review the bureau’s annual overview of residential mortgage lending based on the HMDA data financial institutions collected in 2018, as requested by a variety of stakeholders.
As previously reported, the ANPR is soliciting comments about the costs and benefits of collecting and reporting the data points the 2015 HMDA Rule added to Regulation C and certain preexisting data points that the 2015 HMDA Rule revised. The ANPR also was seeking comments about the costs and benefits of requiring that institutions report certain commercial-purpose loans made to a non-natural person and secured by a multifamily dwelling.
To learn more, visit the CFPB’s website.