In early October, the CFPB released its HMDA Beta Platform for data that will be collected in 2025. The 2025 HMDA Beta Platform allows financial institutions and vendors to test whether their sample loan/application register (LAR) data comply with the reporting requirements outlined in the Filing Instructions Guide for HMDA data collected in 2025.

On September 20, 2024, the CFPB released the HMDA Filing Instructions Guide (FIG) for data collected in 2025. As this guide is updated on an annual basis for the new year, there appears to be minimal changes in the newest version of the Guide.

On July 11, 2024, the FFIEC announced the availability of data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions. Covered institutions include banks, savings associations, credit unions, and mortgage companies.

On May 14, 2024, the FFIEC issued the 2024 edition of A Guide to HMDA Reporting: Getting It Right! for Home Mortgage Disclosure Act (HMDA)-related data collected in 2024 and reported in 2025. This longstanding compliance resource has regularly been used by financial institutions as a “go-to” HMDA resource as it can help financial institutions better understand HMDA requirements, including the data collection and reporting provisions.

On April 5, 2024, the CFPB issued a report finding that more borrowers paid “discount points” upfront as overall interest rates rose. According to the CFPB, the percentage of homebuyers paying discount points roughly doubled from 2021 to 2023. 

On December 18, 2023, the CFPB adjusted the HMDA exemption threshold from $54 million to $56 million. The adjustment is based on the 4.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2023 (up from 4.7 in 2021 and 8.6 in 2022). Therefore, banks, savings associations, and credit unions with assets of $56 million or less as of Dec. 31, 2023, are exempt from collecting data in 2024.

On November 28, 2023, the CFPB ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law. The CFPB found that hundreds of Bank of America loan officers failed to ask applicants certain demographic questions that are required under federal law, and then falsely reported that the applicants had declined to answer. 

On October 10, 2023, the CFPB filed a lawsuit in federal court, alleging that Freedom Mortgage Corporation submitted legally-required mortgage loan data that was riddled with errors, violating both the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order. It can be recalled that in August 2023 the CFPB fined Freedom $1.75 million for paying illegal kickbacks for mortgage loan referrals.