Alert February 21, 2012

HMDA Final Rule

The CFPB adopted a final rule amending the official commentary that interprets the requirements of Regulation C (Home Mortgage Disclosure Act). The Act requires that most mortgage lenders in metropolitan areas collect data about their housing-related lending activity. The final rule changes the asset-size exemption threshold for depository institutions increasing it to $41 million from $40 million. Click here for the final rule.