CUNA wrote in support of a Senate bill that would provide regulatory relief from HMDA reporting requirements Wednesday, a bill that would raise the threshold for reporting requirements to 500 closed-end and 500-open end mortgages.
CUNA supports proposed changes to the CFPB's HMDA rule), but expressed concerns about the impact of the rule itself. CUNA is particularly concerned with the lack of information about what collected data will be made public.
WASHINGTON (3/22/16)--Legislation to raise the threshold for Home Mortgage Disclosure Act reporting requirements for small institutions, including many credit unions, has the full support of CUNA. Jim Nussle, CUNA president/CEO, wrote to Rep. Tom Emmer (R-Minn.) Monday in support of his Home Mortgage Disclosure Adjustment Act.
ALEXANDRIA, Va. (1/14/16)--Credit unions meeting certain criteria have requirements in 2016 to report Home Mortgage Disclosure Act data--requirements detailed Wednesday in a regulatory alert sent by the National Credit Union Administration.
The total number of originated loans of all types and purposes declined by about 2.7 million, or 31%, from 2013 to 2014, according to data released Tuesday on 2014 mortgage lending transactions at 7,062 financial institutions covered by the Home Mortgage Disclosure Act.
CUNA has taken another proactive measure on behalf of credit unions by urging the exemption of credit unions from certain new Home Mortgage Disclosure Act Regulation C data reporting requirements in a letter to Consumer Financial Protection Bureau Director Richard Cordray.
NCUA has released its new call report form and accompanying instructions, which become effective Sept. 30. For credit unions engaged in commercial lending, most notable are the updates reflecting the January 2017 changes to the member business lending rule.