Here Comes HMDA – Understanding the CFPB HMDA Rule

White Paper

Here Comes HMDA – Understanding the CFPB HMDA Rule

September 28, 2016
PDF (666.97 KB)

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) amended the Home Mortgage Disclosure Act (HMDA) and shifted rulemaking authority over Regulation C (HMDA’s implementing regulation) from the Federal Reserve Board to the Consumer Financial Protection Bureau (CFPB).

While it took a few years for the CFPB to issue its first comprehensive HMDA rule, what it has issued is a doozey. This white paper examines the major changes coming under the final rule.

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