There is no telling how many industry insiders might have predicted that the Consumer Financial Protection Bureau’s (CFPB) new Home Mortgage Disclosure Act (HMDA) rule would face the possibility of significant changes shortly after implementation, but that is the reality now facing mortgage lenders.
Richard Horn, principal attorney at Richard Horn Legal, PLLC, and Kathleen Ryan, partner at Akerman LLP spoke to Dodd Frank Update about what the CFPB’s new approach to HMDA supervision in 2018 under acting director Mick Mulvaney could mean for lenders concerned about their compliance capabilities.
Find out more details about how the bureau’s altered approach could mean for compliant mortgage lending in the near future.