CFPB: We’re working to make new HMDA implementation easier

Companies should have already changed their processes, and (ideally) improved them at the same time, in preparation for January’s deadline for implementation. Testing and continuous process improvement throughout 2018 will make it much easier to meet the CFPB’s requirement for periodic hmda data scrubbing. The Rest of the Story

Previously, he worked for the mortgage document preparation provider, IDS, where he was a project manager, compliance officer, and spokesperson for the implementation of TRID. Currently, Jon manages a team that helps with TRID, ECOA, and HMDA compliance. Jon is working on Castle & Cooke Mortgage’s new HMDA requirements implementation.

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We had $3 billion of conventional that bid last week that we are still working. to support implementation of the revised rule. Click here to register. Forget what the mortgage industry used to look.

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WASHINGTON, D.C. – CFPB highlights june 11th marks the first six months of Director Kathleen L. Kraninger leading the Consumer Financial Protection Bureau. "It is an honor and privilege to serve American consumers. As Director, my focus is to prevent harm to consumers by using all the tools Congress gave us, including education, regulation, supervision and enforcement.

Warren opened by explaining to the reporters that President Barack Obama had asked her last month to start the new CFPB “right now,” and that she has been “filling out the new consumer agency.

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will understand the new HMDA rule, monitor CFPB revisions, work with third-party vendors that may assist in the process, and ensure that data point reporting and disclosure timely occurs in a manner that does not increase data privacy risks. The new HMDA rule will certainly test the way that Covered Institutions monitor third-party vendors that

The CFPB should delay the 2018 implementation of the new HMDA requirements until borrower privacy is adequately addressed and the industry is better positioned to implement the new requirements. The new requirements should be examined for utility and cost burden, particularly on smaller lending institutions.

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