Regulatory
Alert (22-RA-01)
Home Mortgage Disclosure Act Data Collection Requirements for Calendar
Year 2022
Dear
Boards of Directors and Chief Executive Officers:
If
your credit union makes residential mortgage loans and meets all four
criteria outlined below, you must comply with the Consumer Financial
Protection Bureau’s Regulation C, which implements the Home Mortgage
Disclosure Act (HMDA).
Regulation
C requires you to collect HMDA data associated with mortgage loan
applications processed during 2022, if:
- Your credit union’s
total assets as of December 31, 2021, exceeded $50 million;
- Your credit union had a
home or branch office in a Metropolitan Statistical Area on
December 31, 2021;
- Your credit union
originated at least one home purchase loan (other than temporary
financing such as a construction loan) or refinanced a home
purchase loan, secured by a first lien on a one-to-four unit
dwelling during 2021; and
- Your credit union
originated at least 100 covered closed-end mortgage loans in each
of the two preceding calendar years (2020 and 2021) or at
least 200 covered open-end lines of credit in each of the two
preceding calendar years (2020 and 2021).
Read the Regulatory Alert
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