HMDA Data Disclosures Pose Risks for Lenders and Borrowers
National Mortgage News, Oct. 27, 2015–Karen, Ari
When the Consumer Financial Protection Bureau issued its long-awaited final Home Mortgage Disclosure Act rule last week the amount of data readily available to the agency was greatly expanded. This isn’t heralded by the mortgage industry, however. Combined with the disparate impact theory, recently recognized by the U.S. Supreme Court under the Fair Housing Act, the HMDA rule further compounds legal risks and business challenges to lenders.
