Items Tagged with 'HMDA data'


  • CFPB finds Freedom Mortgage intentionally reported inaccurate HMDA data

    Bureau hits Freedom with fine for HMDA reporting errors
    Loan officers at Freedom Mortgage intentionally reported inaccurate Home Mortgage Disclosure Act data over a several-year period, the CFPB said Wednesday. According to the bureau, an investigation found that Freedom reported "inaccurate race, ethnicity, and sex information" and that "much of Freedom’s loan officers' recording of this incorrect information was intentional" during that time. Click the headline for details.
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  • CFPB proposes new HMDA rules

    New rules would increase reporting threshold for mortgages
    Last year, the Consumer Financial Protection Bureau relaxed some of the requirements for the data collection and reporting stipulated by the Home Mortgage Disclosure Act. Now, the CFPB is proposing to ease the HMDA reporting requirements even more. Click the headline for the full story.
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  • From HW Magazine

    Leveraging technology to improve the accuracy of HMDA data

    Systematic data integrity reviews can help manage risk
    Ensuring the accuracy of Home Mortgage Disclosure Act data has always been a challenge. Even with the changes from the recently enacted Economic Growth, Regulatory Relief, and Consumer Protection Act that exempts small volume depository institutions and credit unions from certain reporting requirements, the challenges for 2018 will be even greater.
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  • MBA CEO David Stevens: Fair lending for the future homebuyer

    Critically understanding the data
    [Expert commentary] Recently, Reveal News wrote a story lobbing accusations at some banks and mortgage firms of engaging in discriminatory lending practices. Addressing concerns around discrimination is important and this discussion around the issue is long-standing as the nation works to meet the housing needs of American families. Therefore, publishing factual, complete data is critical so the topic can be discussed based on the merit of the facts and without bias.
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  • 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.
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  • Nationstar facing CFPB fine over HMDA violations

    Discloses that company is negotiating with CFPB
    Nationstar Mortgage is facing a fine from the Consumer Financial Protection Bureau over the nonbank’s alleged failure to comply with the reporting requirements of the Home Mortgage Disclosure Act, the company revealed Thursday.
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  • [Survey] Most banks highly concerned about TRID, HMDA compliance

    Wolters Kluwer report shows banks’ concern over compliance is rising
    With each new rule that’s released by regulators, banks face an additional set of compliance challenges that must be met or else, and a new survey from Wolters Kluwer Financial Services shows just how concerned banks are by those new compliance challenges.
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