Upcoming changes to how banks report mortgage activity to the government will have an undeniable impact on Community Reinvestment Act exams, but regulators have been silent on how they will use the data.
The Consumer Financial Protection Bureau proposed a series of clarifications to its 2015 rule expanding mortgage data collection requirements that many in the industry have said is too onerous.
The Consumer Financial Protection Bureau issued a proposal that would give mortgage lenders more flexibility in collecting information on race, sex and ethnicity of home loan applicants.
Nationstar Mortgage agreed on Wednesday to pay $1.75 million to the Consumer Financial Protection Bureau for failing to accurately report home mortgage data that is used to identify discrimination.
