CFPB Updates HMDA FAQs, Exam Procedures

The CFPB recently published updated HMDA FAQs, specifically addressing loan volume thresholds for determining institutional and transactional coverage under Regulation C.  The updated FAQs address changes to these thresholds made by the CFPB’s final rule issued in April 2020.  In the FAQs, the CFPB reminds entities that, as a result of that final rule, effective January 1, 2022, the loan-volume thresholds will be 100 closed-end mortgage loans in each of the two preceding calendar years (the threshold in effect since July 1, 2020) and 200 open-end lines of credit in each of the two preceding calendar years (upon the expiration of the temporary threshold of 500 open-end lines of credit).  WBK previously addressed these April 2020 updates here.

Further, on December 17, 2021, the FFIEC’s member agencies released revised interagency HMDA examination procedures, which reflect various HMDA-related updates since its last publication, including these updated loan volume thresholds.