Home Mortgage Disclosure Act (Regulation C)

The Bureau of Consumer Financial Protection is amending Regulation C to implement amendments to the Home Mortgage Disclosure Act made by section 1094 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Consistent with section 1094 of the Dodd-Frank Act, the Bureau is adding several new reporting requirements and clarifying several existing requirements. The Bureau is also modifying the institutional and transactional coverage of Regulation C. The final rule also provides extensive guidance regarding compliance with both the existing and new requirements.

Final rule

Corrections and other changes

• This technical amendment updates the Code of Federal Regulations to reflect the closed-end mortgage loan reporting threshold of 25 mortgage loans in each of the two preceding calendar years.

• The Supplementary Information to the HMDA final rule issued on April 16, 2020, contained several clerical errors regarding the estimated cost savings in annual ongoing costs from various possible closed-end coverage thresholds as compared to the then-current coverage threshold of 25 closed-end mortgage loans. This document corrects those errors.

• The Bureau of Consumer Financial Protection (Bureau) is amending Regulation C to increase the threshold for reporting data about closed-end mortgage loans, so that institutions originating fewer than 100 closed-end mortgage loans in either of the two preceding calendar years will not have to report such data effective July 1, 2020. The Bureau is also setting the threshold for reporting data about open-end lines of credit at 200 open-end lines of credit effective January 1, 2022, upon the expiration of the current temporary threshold of 500 open-end lines of credit.
• View the unofficial, informal redline

• The Bureau of Consumer Financial Protection (Bureau) is amending Regulation C to adjust the threshold for reporting data about open-end lines of credit by extending to January 1, 2022, the current temporary threshold of 500 open-end lines of credit. The Bureau is also incorporating into Regulation C the interpretations and procedures from the interpretive and procedural rule that the Bureau issued on August 31, 2018, and implementing further section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
• View the unofficial, informal redline

• The Bureau of Consumer Financial Protection is issuing an interpretive and procedural rule to implement and clarify the requirements of section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), which amended certain provisions of the Home Mortgage Disclosure Act (HMDA). The rule clarifies that insured depository institutions and insured credit unions covered by a partial exemption under the Act have the option of reporting exempt data fields as long as they report all data fields within any exempt data point for which they report data; clarifies that only loans and lines of credit that are otherwise HMDA reportable count toward the thresholds for the partial exemptions; clarifies which of the data points in Regulation C are covered by the partial exemptions; designates a non-universal loan identifier for partially exempt transactions for institutions that choose not to report a universal loan identifier; and clarifies the Act’s exception to the partial exemptions for negative Community Reinvestment Act examination history.

• The Bureau of Consumer Financial Protection (Bureau) is amending Regulation C to make technical corrections to and to clarify certain requirements adopted by the Bureau’s Home Mortgage Disclosure (Regulation C) final rule (2015 HMDA Final Rule or the Final Rule), which was published in the Federal Register on Oct. 28, 2015. The Bureau is also amending Regulation C to increase the threshold for collecting and reporting data about open-end lines of credit for a period of two years so that financial institutions originating fewer than 500 open-end lines of credit in either of the preceding two years would not be required to begin collecting such data until Jan. 1, 2020. The Bureau also is adopting a new reporting exclusion.
• View the July 2017 proposal and request for public comment
• View the April 2017 proposal and request for public comment

• In rule document 2015-26607 beginning on page 66128 in the issue of Wednesday, Oct. 28, 2015, make the following corrections:

1. On page 66256, in the second column, in the nineteenth line, “I. Effective Date” should read “VI. Effective Date.
2. On page 66296, in the third column, in the fourteenth and fifteenth lines, “III. Final Regulatory Flexibility Act Analysis” should read “VIII. Final Regulatory Flexibility Act Analysis”.
3. On page 66305, in the first column, in the 23rd line, “IV. Paperwork Reduction Act” should read “IX. Paperwork Reduction Act.”

Proposed Changes and Related Notices

• The Bureau issued an advance notice of proposed rulemaking relating to certain data points in the Bureau’s October 2015 final rule that were added to Regulation C or revised to require additional information, and coverage of certain business- or commercial-purpose loans
• View issued pdf

Proposed rule

Policy guidance

• The Bureau of Consumer Financial Protection (Bureau) issued final policy guidance (Policy Guidance) describing modifications the Bureau intends to apply to the Home Mortgage Disclosure Act (HMDA) data reported by financial institutions under HMDA and Regulation C before the Bureau makes it available to the public on the loan level. The Policy Guidance applies to HMDA data compiled by financial institutions in or after 2018 that will be made available to the public beginning in 2019. The Policy Guidance imposes no obligations on financial institutions or the public.