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CFPB to be lenient on enforcing changes from 2020 HMDA Final Rule 

The Consumer Financial Protection Bureau stated on Tuesday that it will be lenient when enforcing changes made in the 2020 Home Mortgage Disclosure Act Final Rule on the closed-end loan reporting threshold. 

On September 23, 2020, the U.S. District Court for the District of Columbia issued an order vacating the 2020 HMDA Final Rule, changing the reporting data on closed-end mortgage loans to 25 from 100 in each of the two preceding years going back to the threshold set in 2015.

The 2015 HMDA Rule required the financial institutions that originated no fewer than 25 closed-end mortgage loans in each of the details ⇒

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