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CFPB Extends Comment Period on ANPR for HMDA

Phil Hall
Jun 27, 2019
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) has extended the comment period on its Advance Notice of Proposed Rulemaking (ANPR) relating to the Home Mortgage Disclosure Act (HMDA) from July 8 to Oct. 15.
 
The CFPB said in a statement that the extra three months “will give interested parties an opportunity to review the Bureau’s annual overview of residential mortgage lending based on the HMDA data financial institutions collected in 2018, as requested by a variety of stakeholders. In late summer, the Federal Financial Institutions Examination Council will release the national loan level dataset and the Bureau will release an overview of that dataset.” The ANPR was issued on May 2 and seeks input on certain data points in the October 2015 final rule that were added to Regulation C or revised to require additional information, and on coverage of certain business- or commercial-purpose loans.
 
The CFPB also announced that it planned to issue a Federal Register notice to reopen the comment period on certain aspects of the Notice of Proposed Rulemaking relating to coverage thresholds under the HMDA rules. The NPRM comment period closed on June 12; the CFPB did not announce when it planned to reopen the comment period.

 
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