Here Comes HMDA - Understanding the CFPB HMDA Rule White Paper

Here Comes HMDA - Understanding the CFPB HMDA Rule White PaperHere Comes HMDA - Understanding the CFPB HMDA Rule White Paper

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 under the final rule.