The Consumer Financial Protection Bureau (CFPB) announced it will be conducting a voluntary examination of the 2015 Home Mortgage Disclosure Act (HMDA) Rules to evaluate the effectiveness of HMDA in meeting its established goals and purposes under the Dodd-Frank Act. The examination will collect any available evidence and data related to the final HMDA rules and invites public comment on recommendations for modifying, expanding, or eliminating the rule. Comments are due by January 21, 2022.

The CFPB has identified four specific areas where it will focus:

  • Institution and transactional coverage.
  • Data points.
  • Benefits of the new data and disclosure requirements.
  • Operational and Compliance costs.

Link to Announcement.