CFPB Announces 2017 and 2018 HMDA File Specifications

The CFPB and the Federal Financial Institutions Examination Council (FFIEC) recently published new file specifications for submitting data under the Home Mortgage Disclosure Act (HMDA) and its implementing regulation, Regulation C.  The file specifications detail the changes to the format and process by which HMDA data will be collected for 2017, and for 2018 when the majority of the changes in the new HMDA Rule becomes effective.

Notably, beginning with the data collected in 2017, the file format is being changed from a fixed field file to a delimited text file format.  Institutions will also be required to submit data directly to the CFPB, rather than the federal banking agencies or the U.S. Department of Housing and Urban Development.  The 2018 file specifications also indicate that the total number of individual data fields to be collected will increase from 39 data fields under the current Regulation C to 110 data fields.

The file specifications are available at: http://www.consumerfinance.gov/hmda/for-filers.