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CFPB Releases Final Policy Guidance Regarding HMDA Data Points

The Consumer Financial Protection Bureau (CFPB) released final policy guidance describing the Home Mortgage Disclosure Act (HMDA) data the Bureau intends to make available to the public in 2019.

The Bureau used a balancing test to determine whether and how HMDA data should be modified prior to public disclosure to protect applicant and borrower privacy while fulfilling public disclosure requirements. For example, the Bureau intends to exclude certain data such as the property address and credit score. Other information, such as applicant’s age, loan amount, and number of units in dwelling will be disclosed in ranges, rather than specific values.

Vocab Compliance: