The HMDA mandates lenders to report information about the mortgage applications they receive and originate. The data can be used to monitor whether lenders are serving the housing needs of their communities and shed light on lending patterns that could be discriminatory.
Read next: CFPB makes postponement of QM rule compliance official
In 2015, the CFPB finalized changes to the rule, expanding the types of data reported by lenders and the reporting process.
The review will look at institutional and transactional coverage, data points collected from lenders, the benefits of the new data and disclosure requirements, as well as operational and compliance costs. The call for input will remain open for 60 days after publication in the Federal Register.