CFPB Publishes 2021 HMDA Filing Guide

The CFPB recently released the Home Mortgage Disclosure Act (HMDA) Filing Instruction Guide for 2021. The guide includes instructions for data that is collected in 2021 and reported in 2022 and indicates that there are no significant changes to the submission process.  The Supplemental Guide for Quarterly Filers was also recently published.  Under HMDA, institutions that report 60,000 or more covered loans and applications are required to report HMDA data on both a quarterly and annual basis.  However, the CFPB issued a statement that, as of March 26, 2020, and until further notice, the CFPB will not bring enforcement actions against institutions who fail to report their HMDA data on a quarterly basis. The CFPB is not bringing enforcement actions due to challenges brought forth by the COVID-19 pandemic.