On August 31, 2018, the Consumer Financial Protection Bureau issued a Final Rule (the “Rule”) regarding the Home Mortgage Disclosure Act (“HMDA”) exemptions under Regulation C. The purpose of this Rule is to implement and clarify changes made to HMDA as a result of the Economic Growth, Regulatory Relief, and Consumer Protection Act which became law on May 24, 2018. Specifically, the Rule addresses what data-points must and need not be collected and reported if a transaction qualifies for a partial exemption, usage of a non-universal loan identifier, and voluntary reporting of exempt data-points.

The Rule applies to data collected on or after May 24, 2018 and is effective upon publication in the Federal Registrar.

The Rule can be found at https://www.consumerfinance.gov/policy-compliance/rulemaking/final-rules/partial-exemptions-from-requirements-of-home-mortgage-disclosure-act-under-regulation-c/