Addressing Upcoming Changes in HMDA
18 February 2016
Directed by the Dodd Frank Act-A Two Part Series
Part One: The “Known-Knowns”
In August of 2014, the CFPB released it proposed changes to the Home Mortgage Disclosure Act (“HMDA”) (Regulation C). The comment period for these changes ended in October of 2014 and aahe final rule is scheduled for July of 2015. Of course it is impossible to predict exactly what the changes will be, but to paraphrase a speech from Donald Rumsfeld, there are some known-knowns when it comes to these changes.