CFPB Modified ECOA Regs, Seeks HMDA Comments – NMP Skip to main content

CFPB Modified ECOA Regs, Seeks HMDA Comments

Sep 21, 2017
The Consumer Financial Protection Bureau has announced that it has taken measures to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic

The Consumer Financial Protection Bureau (CFPB) announced a modification of regulations on the Equal Credit Opportunity Act (ECOA) that are designed to “provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information.”
 
As a result of the CFPB’s changes, mortgage lenders will not be required to maintain different practices depending on their loan volume or other characteristics, thus enabling the use of application forms that include expanded requests for information regarding a consumer’s ethnicity and race, including the revised Uniform Residential Loan Application. The CFPB also finalized other amendments to Regulation B and its commentary for the collection and retention of information about the ethnicity, race, and sex of applicants seeking certain types of mortgage loans.
 
Separately, the CFPB also requested comment on proposed policy guidance describing the Home Mortgage Disclosure Act (HMDA) data that the agency plans to make public beginning in 2019, including modifications to protect consumers’ privacy. The CFPB is proposing to exclude certain data fields from what is shared publicly, including the property address and applicant’s credit score, and it also proposes disclosing certain information with what is defined as “reduced precision,” such as offering a loan applicant’s age as a range rather than a specific number.

 
About the author
Published
Sep 21, 2017
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Oct 02, 2026
Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Oct 01, 2026
Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Sep 29, 2026
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Sep 25, 2026
Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Sep 25, 2026
Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Sep 23, 2026