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CFPB Issues New HMDA Rule-Effective January 1, 2018

Oh Joy! And I was worried that we would all be bored next year! 

Well, here is what we will all be talking about next year and the year after that. This gives us over 2 years to implement, so that is a great piece of news! 

Attached below is the announcement and the first thing you will notice is the increase in fields. The next interesting item I found was how they are going to handle the reporting of the data. It seems like there will be a filtering process to protect consumer privacy prior to it being released to the public. 

More to come as I read through the ruling and how it will apply to our workflows! 

To Read The CFPB Release Click Here!

Tammy Butler, Master CMB

Author Tammy Butler, Master CMB

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