News & Analysis as of November 17, 2024

Data Collection

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Filing Instruction Guide for 2025 HMDA data submission is released

Ballard Spahr LLP on 9/27/2024

The CFPB recently announced that the Filing Instruction Guide (FIG) for the submission of Home Mortgage Disclosure Act (HMDA) data collected in 2025 is now available. The FIG, issued by the Federal Financial Institutions...more

Chopra Delivers Testimony to Congress on Semi-Annual Report

Ballard Spahr LLP on 6/17/2024

On June 4, 2024, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2023 and ending September 30, 2023. On June 12, 2024, CFPB Director Chopra appeared before the Senate Banking...more

CFPB Announces Availability of HMDA Filing Platform for 2023 Data

Ballard Spahr LLP on 1/5/2024

The CFPB recently announced that the platform for the submission of Home Mortgage Disclosure Act (HMDA) data collected in 2023 is now available for the submission of the data. The platform may be accessed here. HMDA data for...more

CFPB Language Access Plan for Consumers with Limited English Proficiency

Ballard Spahr LLP on 11/30/2023

Throughout the past few years, the CFPB has sought input from a range of stakeholders, including community-based organizations and financial institutions, for feedback about how it can improve consumer financial products and...more

CFPB and other Federal Regulators Eye Regulation Aimed at Curbing Algorithmic Bias in Automated Home Valuations

Jenner & Block on 3/11/2022

Late last month, the Consumer Financial Protection Bureau (CFPB) took another step toward adopting rules governing the use of artificial intelligence (AI) and algorithms in appraising home values. Specifically, the CFPB...more

CFPB Raises HMDA Reporting Thresholds

Ballard Spahr LLP on 4/19/2020

The CFPB recently issued a final Home Mortgage Disclosure Act (HMDA) rule to increase the threshold to report closed-end mortgage loans from 25 to 100 originated loans in each of the prior two years, and to increase the...more

CFPB Finalizes Off-Balanced Approach to Public Disclosure of HMDA Data

Ballard Spahr LLP on 1/8/2019

As previously reported, in September 2017 the CFPB proposed policy guidance regarding what application-level Home Mortgage Disclosure Act (HMDA) data would be disclosed to the public based on the significant expansion to the...more

CFPB Releases Beta Version of 2018 HMDA Data Platform

Ballard Spahr LLP on 12/11/2018

The CFPB has made available a beta version of its 2018 HMDA data platform. The platform is for the reporting of data collected in 2018 that must be reported in 2019. ...more

CFPB Finalizes Alignment of Regulations B and C on Consumer Ethnicity and Race Information

Ballard Spahr LLP on 10/2/2017

On September 21, the CFPB finalized its proposal to amend Regulation B requirements related to collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised...more

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