View Rule
View EO 12866 Meetings | Printer-Friendly Version Download RIN Data in XML |
CFPB | RIN: 3170-AA10 | Publication ID: Spring 2014 |
Title: Home Mortgage Disclosure Act (Regulation C) | |
Abstract: Section 1094 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the Home Mortgage Disclosure Act (HMDA), which requires certain financial institutions to collect and report information in connection with housing-related loans and applications they receive for such loans. The amendments made by the Dodd-Frank Act, among other things, expand the scope of information relating to mortgage applications and loans that must be compiled, maintained, and reported under HMDA, including the ages of loan applicants and mortgagors, information relating to the points and fees payable at origination, the difference between the annual percentage rate associated with the loan and benchmark rates for all loans, the term of any prepayment penalty, the value of the property to be pledged as collateral, the term of the loan and of any introductory interest rate for the loan, the presence of contract terms allowing non-amortizing payments, the application channel, and the credit scores of applicants and mortgagors. The Dodd-Frank Act also provides authority for the CFPB to require other information, including identifiers for loans, parcels, and loan originators. The CFPB expects to complete the SBREFA process and begin developing a proposed rule concerning the data to be collected and appropriate format, procedures, information safeguards, and privacy protections for information compiled and reported under HMDA. The CFPB is considering additional revisions to its regulations to effectuate the purposes of HMDA. | |
Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Prerule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 12 CFR 1003 | |
Legal Authority: 12 USC 2801 to 2810 |
Legal Deadline:
None |
||||||
Timetable:
|
Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Joan Kayagil Office of Regulations Consumer Financial Protection Bureau Phone:202 435-7700 |