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FRB Delays New HMDA Rules
May 3, 2002
The Federal Reserve Board announced yesterday that they are delaying the implementation of changes to the Home Mortgage Disclosure Act until January 1, 2004. The decision was made after the FRB received a joint letter from industry groups urging a delay. The letter pleads that large institutions would not be able to comply with the implementation by the proposed date. Also, a complaint was lodged by Loan Origination Software makers that the proposed changes would require revisions to the Universal Residential Loan Application (URLA-FNMA Form 1003) and that major changes would be required of current software.

The FRB delayed the decision on the reporting of telephone applications but announced, "This proposed amendment does not appear to require substantial changes to institution's data systems." More at http://www.federalreserve.gov/boarddocs/press/boardacts/2002/20020502/

Public Comment Period
to April 12, 2002
For recent changes to Regulation C, which implements the Home Mortgage Disclosure Act, see the Analysis Page for further directions.

Security Concerns Change HMDA Subs Address
December 23, 2001
The Federal Financial Institutions Examination Council (FFIEC) has provided a PDF file, documenting the scope of changes for submitting a HMDA or CRA report. 23k in PDF format

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