CFPB hits two lenders with thousands in penalties over HMDA data

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After the passage of the Dodd-Frank Act in 2010, the CFPB took over authority for HMDA data. Lenders are required by law to collect and report mortgage information to financial regulators that publicize the aggregate data annually. The cfpb assessed 9,000 in penalties against the two nonbank mortgage lenders.

Fed: Conforming loan limit drop effect to be minimal Santa Cruz County median home price $907,500 in October – The new forecast includes a prediction that home sales will drop 6.9 percent. Last month, the Federal Home Financing Agency raised the limit for conforming loans to $726,525 for 2019 for high-cost.

Start studying NMLS Laws and Regulations. Learn vocabulary, terms, and more with flashcards, games, and other study tools.. Home Mortgage Disclosure Act. What does HMDA do? Provides Data to public, assists public officials, and identifies evidence of descrimination. Required on Conforming loans over 80%

On March 15, 2017, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with national nonbank mortgage lender that requires the lender to pay a $1.75 million civil monetary penalty to resolve alleged violations of the Home Mortgage Disclosure Act (HMDA).

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