New Rule Improves Information About Mortgage Market

The Consumer Financial Protection Bureau (CFPB) released their proposed rule for collection of new Home Mortgage Disclosure Act (HMDA) data. Please see the press release and link to the proposed rule below. This rule will improve information reported about the residential mortgage market and simplify the reporting process for financial institutions. The rule would shed more light on consumers' access to mortgage credit.

 A copy of the proposed rule, which includes information on how to submit comments, is available at: http://files.consumerfinance.gov/f/201407_cfpb_proposed-rule_home-mortgage-disclosure_regulation-c.pdfA copy of the final report of the Small Business Review Panel is available at: http://files.consumerfinance.gov/f/201407_cfpb_report_hmda_sbrefa.pdf