- Source: consumerfinance.gov
Treliant knows the Home Mortgage Disclosure Act. If your institution needs assistance in gathering, scrubbing, or submitting your HMDA LAR, Treliant can help.
In September 2022, a court order vacated the 2020 Home Mortgage Disclosure Act (HMDA) Final Rule regarding the loan volume reporting threshold for closed-end mortgage loans. As a result, the threshold for reporting data on closed-end mortgage loans is now 25 loans in each of the two preceding calendar years, which is the threshold established by the 2015 HMDA Final Rule. The new threshold is a significant reduction from the 100-loan threshold set by the 2020 HMDA Final Rule. The court decision did not affect the 2020 change to a permanent threshold for open-end line of credit at 200 in each of the two preceding years.
The CFPB stated in a December 6th blog post their intention to not initiate enforcement actions or cite HMDA violations for failures to report closed-end mortgage loan data collected in 2022, 2021, or 2020 that met Regulation C’s other coverage requirements and originated at least 25 closed-end mortgage loans in each of the two preceding calendar years but fewer than 100 closed-end mortgage loans in either or both of the two preceding calendar years.