In October 2015, the Consumer Financial Protection Bureau issued a huge expansion of Regulation C, the regulation that implements the Home Mortgage Disclosure Act (HMDA). Lenders must be prepared to implement the additional reporting requirements on January 1, 2018. They cannot afford to wait. The changes require wholesale re-tooling of the HMDA infrastructure, including measures to effectuate the amendment’s 48 data points and 85 data fields that dwarf the existing mandatory 13 data points and 35 data fields.
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