Tag Archives: HMDA

A new blog post from the Urban Institute asserts recent numbers on loan denial rates for minorities weren't too high; rather, they may have been too low. Using HMDA data, the group examined the credit profiles of applicants, noting that the denial rate really only matters for weaker credit profile applicants—they are more likely to get denied.

Results released in QuestSoft's latest annual survey of lenders shows the Consumer Financial Protection Bureau (CFPB) continues to rank high on the list of worries gnawing away at businesses. "Compared to last year's survey, lenders appear more weary than ever of CFPB's rules, as non-CFPB issues are seen as increasingly lower priorities," said Leonard Ryan, founder and president of QuestSoft.

While seemingly innocuous, the Consumer Financial Protection Bureau's (CFPB) push to change reporting requirements under the Home Mortgage Disclosure Act may have unintended consequences for both servicers and legal teams to assess discriminatory lending practices. The CFPB is inviting input on both the content and the method of reporting. Now is the time to speak up on these matters.

The Consumer Financial Protection Bureau (CFPB) unveiled a new tool Friday aimed at making Home Mortgage Disclosure Act (HMDA) data more user-friendly.

The Consumer Financial Protection Bureau (CFPB) has ordered two mortgage banks to pay civil penalties for violating the Home Mortgage Disclosure Act (HMDA) with allegedly inaccurate for applications from 2011. According to a release from the agency, Mortgage Master (a nonbank headquartered in Walpole, Massachusetts), and Washington Federal (a Seattle-based bank), failed HMDA reviews when it was determined "that their compliance systems were inadequate and that they had severely compromised mortgage lending data."

A new tool released Wednesday by the Consumer Financial Protection Bureau (CFPB) provides heat maps and illustrative graphs that detail local mortgage market trends.

According to the CFPB, an examination of financial institutions found "instances of significant non-compliance with" regulatory statutes.

The Consumer Financial Protection Bureau made clear Thursday that it will exercise its full authority to supervise a host of nonbank financial entities, with mortgage originators, brokers, servicers, and others in plain view. The bureau, newly empowered by Richard Cordray├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós recess appointment Wednesday, offered up a video in which the new director addressed a virtual audience Thursday. The bureau released an 800-plus-page manual for nonbank examiners detailing their examination procedures, which focus on an entity├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós volume of business, services, and products.

The Consumer Financial Protection Bureau will clarify and hone rules from 18 consumer financial laws it arrogated from seven federal regulatory agencies in July.