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Volume 25 - Number 12

June 9, 2014

CFPB Continues Efforts Toward HMDA Rule, Latest Agenda Shows

The CFPB recently convened a small business review panel as per the Small Business Regulatory Enforcement Fairness Act of 1996 to discuss potential amendments to the Home Mortgage Disclosure Act, Kelly Thompson Cochran, acting assistant director for regulations at the CFPB, said in a recent blog posting. The amendments made by the Dodd-Frank Act expand the scope of information relating to mortgage applications and loans that must be compiled, maintained and reported under HMDA, including the ages of loan applicants and mortgagors, information relating to the points and fees payable at origination, and the difference between the annual percentage rate associated with the loan and benchmark rates for all loans. Other new inclusions are...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.