Proposal Eases HELOC HMDA Threshold

Fewer home-equity line of credit lenders will be subject to Home Mortgage Disclosure Act requirements under a proposed change.

HMDA was updated by the Consumer Financial Protection Bureau in 2015 as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Under rules scheduled to go in effect at the beginning of next year, lenders that make at least 100 HELOCs a year for two consecutive years are subject to HMDA.

---

…read more

From:: Financing