Mortgages Analyzed
 
Final Rule
Partial Exemptions from the Requirements of the Home Mortgage Disclosure Act under the Economic Growth, Regulatory Relief, and Consumer Protection Act (Regulation C)
 
 
Type:
Final Rule
Type Detail:
Final Rule
Publish Date:
Aug 31, 2018
Source:
Source   
Type:
Final Rule
Type Detail:
Final Rule
Publish Date:
Aug 31, 2018
Source:
Source   
 

The Bureau of Consumer Financial Protection is issuing an interpretive and procedural rule to implement and clarify the requirements of section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), which amended certain provisions of the Home Mortgage Disclosure Act (HMDA). The rule clarifies that insured depository institutions and insured credit unions covered by a partial exemption under the Act have the option of reporting exempt data fields as long as they report all data fields within any exempt data point for which they report data; clarifies that only loans and lines of credit that are otherwise HMDA reportable count toward the thresholds for the partial exemptions; clarifies which of the data points in Regulation C are covered by the partial exemptions; designates a non-universal loan identifier for partially exempt transactions for institutions that choose not to report a universal loan identifier; and clarifies the Act’s exception to the partial exemptions for negative Community Reinvestment Act examination history.

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