New filing requirements for HMDA were passed in 2023 that will go into effect in 2024. Given the volatility with the housing market, the CFPB is paying close attention to mortgage data to protect borrowers.
BAI has put together a document on HMDA policy considerations to help financial services organizations understand current trends regarding the law and what they must do to stay compliant. Topics in the document include:
To learn more about how to make your organization’s HMDA policies more effective, download BAI’s “HMDA Policy Considerations.”