HMDA Final Rule 2020 Threshold Changes Summary
The CFPB has issued a Final Rule to increase the reporting threshold for both closed-end mortgage loans and open-end lines of credit. Effective July 1, 2020, the Final Rule permanently increases the closed-end threshold from 25 to 100 closed-end mortgage loans in each of the preceding two calendar years. Additionally, effective January 1, 2022, the Final Rule permanently sets the open-end threshold at 200 open-end lines of credit in each of the preceding two calendar years, after the temporary threshold of 500 expires.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.