On September 23, 2022, the United States District Court for the District of Columbia vacated the increased loan-volume reporting threshold for closed-end mortgage loans in the 2020 HMDA Rule. As a result, the closed-end mortgage loan reporting threshold is 25 mortgage loans in each of the two preceding calendar years – the threshold established by the 2015 HMDA Rule. The amendment issued by the CFPB which reflects the recent decision can be found at:www.consumerfinance.gov/rules-policy/final-rules/hmda-reg-c-judicial-vacatur-of-coverage-threshold-for-closed-end-mortgage-loans/
If you originated 25 or more closed-end mortgage loans in the previous two years and find that you will now need to report your HMDA data, let us help you get your HMDA data ready for reporting with our proprietary HMDA Software and experienced analysts.