Updated CFPB Article on 2019 HMDA Data

Adam Witmer
Regulatory Update, HMDA

On 8/27/2020, the CFPB released a second article to provide further observations found when analysing the 2019 HMDA data. In their release, the CFPB explains that this article is on cross-sectional analyses with a goal to explore various patterns and relationships between different data fields and to provide some initial observations. Key topics in this analysis include:

  • Open-end and reverse mortgage flags;

  • Expanded and revised demographic information;

  • Property type;

  • Loan purpose and characteristics;

  • applicant/borrower and property characteristics; and

  • pricing outcomes and components.

While this report runs over 250 pages, the main information is found within the first 83 pages and would be beneficial for HMDA reporters to review.

The full CFPB review can be found here.

Adam Witmer
Regulatory Update, HMDA
Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

Website

FinCEN Statement on SAR Disclosure

CFPB Settles with TD Bank for Overdraft Practices