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HMDA Changes: The Final Rule and Fair Lending

By Martha J. Svoboda The traditional focus of HMDA compliance has been, and continues to be, on the annual monitoring of mortgage loan origination and mortgage loan purchase activity. This article discusses possible benefits and challenges from the recent amendments to the regulations implementing HMDA, specifically those pertaining to fair …

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Plugging into the New HMDA Requirements

By Burton Embry and Cassandra Wayman Although summer is just beginning and there is a little more than half a year remaining until January 1, 2018, compliance officers, IT professionals, and those working to implement the new HMDA changes have precious little time to make key business decisions and technology …

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New HDMA Rules to Increase Enterprise Risks

By Paula Witt On October 15, 2015, the Consumer Protection Financial Bureau (CPFB) issued final rules for the Home Mortgage Disclosure Act (HMDA). At first glance, the HMDA rules represent another new compliance issue to tackle, among dozens of others. Take a closer look, however, and something more worrisome jumps …

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The Road Map to HMDA Implementation

By Lisa Klika The revised Home Mortgage Disclosure Act (HMDA) rule becomes effective for loan applications with a final action taken on or after January 1, 2018. This is one of the first major regulatory implementation projects for the mortgage industry since the dreaded TILA/RESPA Integrated Disclosure Rule (TRID) of …

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Monthly State Regulatory Update – June 2017

California Per Diem Interest Compliance – The California Department of Business Oversight issued a bulletin (Release No. 58-FS) to assist licensed lenders with additional guidance relating to compliance with the per diem interest statute. According to the Department, the bulletin is intended to help licensed lenders distinguish documents that could …

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Monthly State Regulatory Update – May 2017

Arkansas Notary Public Fees – The state of Arkansas modified its provisions (HB 1450) relating to notary public requirements that includes updates to notary fees. These provisions are effective on August 18, 2017 (or 91 days after adjournment of the current legislative session). Recordation of Deeds – The state of …

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