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Comments are due on Oct. 22, 2014.
The CFPB says the proposed rule would improve information reported about the residential mortgage market, according to a statement.
It would also “shed more light on consumers’ access to mortgage credit by updating the reporting requirements of the Home Mortgage Disclosure Act (HMDA) regulations. The Bureau also aims to simplify the reporting process for financial institutions.”
SMALLER LOAN EXEMPTION THRESHOLD
updated 11/30/15 12:02 PM
Reg. Z and M Updates
The Consumer Financial Protection Bureau (CFPB), Federal Reserve Board, and Office of the Comptroller of the Currency (OCC) announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2016 will remain $25,500.
IMPROVE YOUR COMPLIANCE IN 2016
updated 11/24/15 07:46 AM
Informative ComplySight Webinars
Kick off the New Year with ComplySight and make sure your regulatory compliance is at its finest in 2016 and beyond.