Posts Tagged ‘HMDA’

CFPB fines Nationstar $1.75 million for HMDA violations

nationstar CFPB fineOn March 15, 2017, Nationstar Mortgage entered into a consent order with the CFPB to resolve alleged violations of the Home Mortgage Disclosure Act (HMDA). Nationstar will pay a $1.75 million civil money penalty for what the CFPB has termed “persistent and substantial reporting errors” that occurred between 2012 and 2014. According to the Bureau, this is the largest penalty for HMDA violations that the CFPB has imposed to date.

According to the consent order, Nationstar has “a history of HMDA non-compliance” which dates back to November 2011 when Nationstar entered into a consent order with the Massachusetts Division of Banks for violations related to HMDA and Regulation C.

HMDA webinar available on CFPB website

CFPB HMDA webinarOn February 8, 2017, the CFPB announced that it is making available on its website a webinar on the 2015 Home Mortgage Disclosure Act (HMDA) final rule. The CFPB HMDA webinar discusses identifiers and other data points, including those related to applicants and borrowers. Last August, CFPB staff conducted a webinar providing an overview of the HMDA final rule.

CFPB issues HMDA warning letters

Last week, the CFPB announced that it is issuing HMDA warning letters to 44 mortgage lenders and mortgage brokers stating that the Bureau has information that appears to show those entities “may not be in compliance with certain provisions of the Home Mortgage Disclosure Act (HMDA) and its implementing regulation, Regulation C.” You can view sample CFPB HMDA warning letters here.