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OCC Bulletin 2021-63 | December 17, 2021

Home Mortgage Disclosure Act: Interagency Examination Procedures

To

Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties

Summary

The Office of the Comptroller of the Currency (OCC) today issued the revised interagency Home Mortgage Disclosure Act (HMDA)1 examination procedures for determining compliance with HMDA and its implementing regulations.

Rescission

This bulletin rescinds

  • OCC Bulletin 2010-8, "Compliance Policy: Revised Home Mortgage Disclosure Act Examination Procedures."
  • OCC Bulletin 2019-19, "Home Mortgage Disclosure Act: Revised Interagency Examination Procedures."

The interagency procedures update the April 19, 2019, FFIEC interagency examination procedures for the Home Mortgage Disclosure Act.

Note for Community Banks

This bulletin applies to all banks2 subject to HMDA data collection and reporting requirements.

Highlights

  • The revised procedures address changes to the effective dates for banks that meet or exceed either the closed-end mortgage loans or the open-end lines of credit loan-volume threshold in each of the two preceding calendar years:
    • Effective July 1, 2020, a bank, savings association, or credit union that originated at least 100 closed-end mortgage loans in each of the two preceding calendar years, or originated at least 500 open-end lines of credit in each of the two preceding calendar years meets or exceeds the loan-volume threshold.
    • Effective January 1, 2022, when the temporary threshold of 500 open-end lines of credit expires, a bank, savings association, or credit union that originated at least 100 closed-end mortgage loans in each of the two preceding calendar years, or originated at least 200 open-end lines of credit in each of the two preceding calendar years meets or exceeds the loan-volume threshold.
  • The revised procedures also address changes to a partial exemption to apply to an application or covered loan (including a purchased covered loan). An eligible bank must meet the applicable loan-volume threshold:
    • A partial exemption applies to an eligible bank’s applications for, originations of, and purchases of closed-end mortgage loans if the bank originated fewer than 500 closed-end mortgage loans in each of the two preceding calendar years. When a bank determines whether it meets the loan-volume thresholds for a partial exemption, the bank does not count transactions excluded by 12 CFR 1003.3(c)(1) through (10) and (13).
    • A partial exemption applies to an eligible bank’s applications for, originations of, and purchases of open-end lines of credit if the bank originated fewer than 500 open-end lines of credit in each of the two preceding calendar years.

Further Information

Please contact Vonda J. Eanes, Director for Community Reinvestment Act and Fair Lending Policy, Compliance Risk Policy Division, at (202) 649-5470.

 

Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy

Related Link

1 Refer to Pub. L. 115-174, 132 Stat. 1296 (2018), section 104(a) (codified at 12 USC 2803). The Consumer Financial Protection Bureau (CFPB) issued a 2019 HMDA rule to extend the temporary threshold for reporting data about open-end lines of credit and implement and further clarify the partial exemption created by the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act. Refer to 84 Fed. Reg. 57946 (October 29, 2019). The CFPB then issued a 2020 HMDA rule to adjust the thresholds for reporting data about closed-end mortgage loans and the thresholds for reporting data about open-end lines of credit. The CFPB amended Regulation C (12 CFR 1003) by revising thresholds for reporting data and clarifying partial exemption. Refer to 85 Fed. Reg. 28364 (May 12, 2020).

2 "Banks" refers collectively to national banks, federal savings associations, covered savings associations, and federal branches and agencies of foreign banking organizations.

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