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CFPB Makes Temporary HELOC Reporting Threshold Official

(Mortgage News Daily) - 1 years, 3 months ago
 Posted To: MND NewsWireIn July, the Consumer Financial Protection Bureau (CFPB) said it was rethinking implementation of its rules changing reporting requirements for the Home Mortgage Disclosure Act (HMDA). The new rule was authorized in 2015, and will, for the first time , require community banks and credit unions to report information on home equity lines of credit (HELOC) lending. The rule promulgated by CFPB put a threshold on the reporting requirements, exempting institutions if they had o...
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