Archive

Go to:

October 2018
SMTWTFS
123456
78910111213
14151617181920
21222324252627
28293031
< Sep Nov >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

House Passes HMDA Bill to Raise Reporting Threshold
Friday, January 19, 2018 6:35 AM

Yesterday, the House passed the Home Mortgage Disclosure Adjustment Act (H.R. 2954), legislation introduced by Rep. Tom Emmer (R-Minn.). The bill would raise the reporting threshold for certain HMDA requirements.

“We were pleased to see H.R. 2954 pass the House this week,” said Jim Phelps, Cornerstone chief advocacy officer. “Raising the threshold on reporting requirements will help mitigate the regulatory burdens and increased compliance costs that have plagued credit unions and other community financial institutions since Dodd-Frank. Cornerstone’s advocacy team will continue to press for more regulatory relief in this Congress.” 

Specifically, the bill would raise the threshold that triggers reporting requirements to 1,000 closed-end and 2,000 open-end mortgages. The current threshold is 25.