In the past, some in the mainstream media have referred to nonbank mortgage lenders as “shadow” lenders, a phrase that residential finance professionals find pejorative…
The Mortgage Bankers Association is projecting that more than 4,600 residential finance professionals will attend its annual convention in Denver next month.
Last week, the CFPB issued new proposed policy guidance spelling out how it intends to disclose the loan-level data that financial institutions will report under the Home Mortgage Disclosure Act. The guidance would apply to HMDA data to be reported under Regulation C as of Jan. 1, 2018. The bureau intends to make this data available to the public starting in 2019. “Public disclosure of mortgage data is central to the achievement of HMDA’s goals,” the agency said. “The bureau has considered whether and how HMDA data should be modified prior to its disclosure to the public, in order to protect applicant and borrower privacy while also fulfilling HMDA’s public disclosure purposes.” First, the CFPB is proposing to exclude from ...