FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
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Lending

CFPB: More lenders to get exemption from reporting HMDA data

Banks, credit unions and other financial firms with assets of $42 million or less will be exempt from having to collect extensive loan data required under the Home Mortgage Disclosure Act, the Consumer Financial Protection Bureau said Friday.

The exemption takes effect Dec. 31 and does not change the financial firms' obligation to report HMDA data collected in 2012 when it was still required on the firms.

The HMDA, which is tied to Regulation C (Home Mortgage Disclosure), stipulates that lenders in metro areas have to collect and report data on loan applications, originations, home purchases, home improvement loans and refinancings. The data required includes loan type, purpose, loan amount, pricing, income data, race, ethnicity, sex and property location.

The rule will take effect when its published next week in the Federal Register.

kpanchuk@housingwire.com

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