In an attempt to facilitate compliance with changes to the Consumer Financial Protection Bureau’s Home Mortgage Disclosure Act (HMDA) regulation, the bureau has proposed several modifications to the final rule, finalized in October 2015, set to take effect in January 2018.
Although most of the proposals are minor changes and clarifications, the bureau did provide some insights as to what it hopes to gain from HMDA submissions within its clarifications.
Read on to find out what the bureau is proposing.