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#1007830 - 07/30/08 01:26 PM Is HMDA impacted with recent Reg Z changes
JSD Offline
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JSD
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Are there proposed changes to HMDA that were a result of what the Fed issued on July 14 for the final changes to Reg Z?
(I thought more knowledge about the Reg Z changes would be found in this forum than the HMDA one.)

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#1007834 - 07/30/08 01:30 PM Re: Is HMDA impacted with recent Reg Z changes JSD
Dan Persfull Offline
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To the best of my knowledge there are no proposed changes to HMDA. At least none that I have seen or heard about.
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#1007837 - 07/30/08 01:33 PM Re: Is HMDA impacted with recent Reg Z changes Dan Persfull
JSD Offline
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I too was not aware, but a compliance consultant group just sent out an email indicating there were changes that would impact HMDA. Since we do not subscribe to their service - we can't see the entire information.

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#1007843 - 07/30/08 01:35 PM Re: Is HMDA impacted with recent Reg Z changes JSD
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Just saw the BOL email:
FRB Proposes Rulemaking for Home Mortgage Disclosure
The Board is proposing to amend Regulation C (Home Mortgage Disclosure) to revise the rules for reporting price information on higher-priced loans. The rules would be conformed to the definition of "higher-priced mortgage loan" adopted by the Board under Regulation Z (Truth in Lending) contemporaneously with this proposal. Under the proposal, a lender would report the spread between the loan's APR and a survey-based estimate of rates currently offered on prime mortgage loans of a comparable type if the spread meets or exceeds 1.5 percentage points for a first-lien loan (or 3.5 percentage points for a subordinate-lien loan).

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#1007859 - 07/30/08 01:48 PM Re: Is HMDA impacted with recent Reg Z changes JSD
ktac MITCH Offline
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Giant side of TX
If you want to see it in the Final Rules.

The last setence on Pg 65 . . . " Staff also recommends that the Board publish proposed ammendments to Reg C to make higher-priced loan reporting consistent with the Regulation Z amendments"
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#1007876 - 07/30/08 01:54 PM Re: Is HMDA impacted with recent Reg Z changes ktac MITCH
Dan Persfull Offline
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Quote:
Just saw the BOL email:



Hmmm...I haven't seen this email.
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#1007891 - 07/30/08 02:00 PM Re: Is HMDA impacted with recent Reg Z changes Dan Persfull
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Here's a link to the Reg. C proposal from today's Federal Register.

http://edocket.access.gpo.gov/2008/pdf/E8-16501.pdf It is 9 pages.

Here's a link to the Reg. Z final rule that was in today's issue.

http://edocket.access.gpo.gov/2008/pdf/E8-16500.pdf It is 94 pages.
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#1007893 - 07/30/08 02:01 PM Re: Is HMDA impacted with recent Reg Z changes Dan Persfull
M Cockrell Offline
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My notice was received via an ABA e-mail.
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#1007901 - 07/30/08 02:03 PM Re: Is HMDA impacted with recent Reg Z changes M Cockrell
rlcarey Online
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There are some amendments to HMDA and Reg. Z in the housing bail-out bill also, based on a quick look the other day.
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#1007952 - 07/30/08 02:27 PM Re: Is HMDA impacted with recent Reg Z changes Dan Persfull
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Originally Posted By: Dan Persfull
Quote:
Just saw the BOL email:



Hmmm...I haven't seen this email.


Me either. Someone got a link?

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#1007989 - 07/30/08 03:02 PM Re: Is HMDA impacted with recent Reg Z changes Truffle Royale
Dan Persfull Offline
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RR, thanks for the links.
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