Tag Archives: HMDA

The CFPB warned 44 mortgage lenders and brokers last week that they may have violated the Home Mortgage Disclosure Act. What should other lenders and brokers take away from this?

Melissa Kozicki of the Mortgage Builder Division of Altisource discusses the updates to the Home Mortgage Disclosure Act and what they mean for lenders. Editor's note: This select print feature originally appeared in the October 2016 issue of MReport magazine.

The Bureau has issued a letter of warning to 44 mortgage lenders and brokers, telling them that they may not be in compliance with the Home Mortgage Disclosure Act.

The latest Home Mortgage Disclosure Act (HMDA) data found that nonbanks' share of the mortgage market is rising while banks' share is shrinking. What is the reason for the shift?

Michael L. Vitali, Sr., SVP and Chief Compliance Officer with LoanLogics, discusses with MReport the recent updates to the Home Mortgage Disclosure Act and what lenders are facing.

Today’s lenders are learning how to navigate the rules’ changes, as cost and compliance issues arise. Editor's note: This select print feature appears in the June 2016 edition of MReport magazine.

The revamped rule appears to be weighing heavy on the minds of many in the mortgage industry as is brings about several new data point requirements that must be fulfilled by lenders.

In a report released Wednesday, Wolters Kluwer Financial Services (WKFS) said its Regulatory & Risk Management Indicator increased again to 128, reflecting a 28 percent rise since its baseline score established in January 2013. Looking at compliance challenges, 72 percent of banker respondents listed "maintaining compliance with changing regulations" as one of their top concerns, up from 67 percent at the start of last year.

According to information released Monday by the Federal Financial Institutions Examination Council (FFIEC), the share of home purchase loans made to low- and moderate-income applicants declined to 26 percent in 2013 from 31 percent the year prior. The share of refinance loans going to those borrowers came up just slightly, rising to 20 percent from 19 percent in 2012.

The Consumer Financial Protection Bureau is proposing a rule that would update the reporting requirements under the Home Mortgage Disclosure Act (HMDA). The proposed rule purports to standardize the reporting threshold for most lenders, relax the reporting requirements for some smaller lenders, and improve the electronic reporting process.