CFPB Mortgage Lender Data Will Be Useful To Public

Law360, New York (March 4, 2014, 5:57 PM EST) -- On Feb. 7, 2014, the Consumer Financial Protection Bureau announced that it was beginning the rulemaking process for an expanded rule under the Home Mortgage Disclosure Act ("HMDA"). The factsheet released is the first step in a process that, if finalized, will result in expanded public data regarding mortgage-lending practices. The CFPB is seeking to collect more robust data from lenders, but, as with any information disclosure regime, it must ensure that the data is both accessible and useful to the public.

Passed in 1975, the...
To view the full article, register now.