Articles Tagged with ''HMDA''

HousingWire launches exclusive 5-part regtech podcast series

Regtech Report brought to you by ComplianceEase
HousingWire and ComplianceEase are teaming up to launch the weekly series in mid-August and will cover topics, such as artificial intelligence, big data and compliance, compliance, compliance. So keep an eye out, we’ll announce each new episode in our email alerts, and thanks for listening!
Read More

MBA, NMHC, others call on CFPB to change multifamily HMDA rules

Want exemption from HMDA reporting for business-to-business loans
The Mortgage Bankers Association, the National Multifamily Housing Council, and several other prominent trade groups are calling on the Consumer Financial Protection Bureau to change the Home Mortgage Disclosure Act rules for multifamily lending. The groups want the CFPB to completely exempt multifamily business-to-business lending from HMDA reporting requirements.
Read More

Quicken Loans reports lending growth in Q1, stays atop the leaderboard for the second consecutive quarter

Quicken points to proprietary tech as a key driver in its growth
Quicken Loans is feeling itself, announcing Wednesday that in the first quarter, for the second consecutive quarter, it has held onto the title of number one loan originator, posting a total of $20.5 billion in loan originations. This is a 5% jump year-over-year, and Quicken points to its proprietary tech as the wind in its sails.
Read More

LenderClose launches HMDA compliance tool

Allows community banks, credit unions to export HMDA data fields
LenderClose announced it is launching a new compliance tool to help companies navigate the Home Mortgage Disclosure Act. Its new tool will allow community banks and credit unions to validate and export HMDA required data fields to meet the requirements set by the Consumer Financial Protection Bureau.
Read More

House passes bill that eases HMDA requirements for smaller lenders

Home Mortgage Disclosure Adjustment Act passes in partisan vote
Lenders have only had to comply with the new Home Mortgage Disclosure Act rules for a little more than two weeks, but the Trump administration has already signaled that it will not be assessing penalties on HMDA data collected in 2018 and reported in 2019. And if Republicans in Congress have their way, even fewer lenders will have to comply with the new HMDA rules at all.
Read More

Your top 10 HMDA questions answered: Part 10

How should LOS providers differentiate to help lenders today?
The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. In this 10th and final part of the series, experts discuss how LOS providers should differentiate to help lenders today.
Read More

Your top 10 HMDA questions answered: Part 9

What should be keeping a lender awake at night now?
The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. And as the January 1 deadline moves closer, experts explain what final challenges should be keeping lenders awake at night.
Read More

Your top 10 HMDA questions answered: Part 8

Where should lenders currently be in the process of preparing for HMDA?
The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. Where should lenders currently be in the process of preparing for HMDA? In short, experts explain that with the HMDA deadline nearly here, lenders should be ready.
Read More

Your top 10 HMDA questions answered: Part 7

How does HMDA regulation address non-delegated correspondents?
The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. One of the most pressing HMDA questions asks who is responsible for reporting HMDA data? Could more than one person be responsible for each origination? Experts answer.
Read More

HMDA enforcement defanged by Trump-led regulators

Regulators rollback HMDA penalty assessments going into 2018
The Home Mortgage Disclosure Act caused its fair share of grief among mortgage lenders who stress over the new risks it will bring to compliance in 2018. But now, the Trump administration's new regulatory leaders defanged the new rule — CFPB and OCC both announced they have no intentions of issuing data reporting penalties in 2018.
Read More