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CFPB Extends Comment Period for HMDA ANPR

As previously reported, in May the CFPB issued both a proposal to modify the Home Mortgage Disclosure Act (HMDA) rule and an advance notice of proposed rulemaking seeking comment on three specific aspects of the HMDA rule:

  • The new data points added by the CFPB based on discretionary authority.

  • The free-form text fields that apply to certain data points.

  • The application of the rule to business or commercial-purpose loans made to a non-natural person and secured by a multi-family dwelling.

Originally the CFPB provided for a 60-day comment period that would have ended July 8. The CFPB has now extended the comment period until October 15.

Copyright © by Ballard Spahr LLPNational Law Review, Volume IX, Number 192


About this Author

Richard J. Andreano, Jr. , Ballard Spahr Law Frim, Washington DC,  Business and Finance attorney, Mortgage Banking, Consumer Financial Services, Fair Lending

Richard J. Andreano, Jr., is the Practice Leader of Ballard Spahr's Mortgage Banking Group. He has devoted 30 years of practice to financial services, mortgage banking, and consumer finance law.

Mr. Andreano advises banks, lenders, brokers, home builders, title companies, real estate professionals, and other settlement providers on regulatory compliance and transactional matters, Federal Housing Administration (FHA) issues, and administrative examinations, enforcement actions and investigations. He also works with litigation counsel on devising strategies for defense of class action...