As the industry prepares for compliance with the new Home Mortgage Disclosure Act (HMDA) rule Jan. 1, 2018, one of the questions often asked of the Consumer Financial Protection Bureau (CFPB) is when the industry will be able to access the new HMDA platform.
The CFPB responded with an updated status on the release, saying the bureau is currently demonstrating the new HMDA Platform’s functionality and user experience to the industry through webinars, industry conferences, and in-person user testing sessions.
“A video version of the CFPB’s demonstration will be made available soon,” the announcement stated. “The new HMDA Platform will be available to all users in fall 2017 to explore its features prior to, in 2018, the first submission of data to the HMDA Platform.”
The bureau said the schedule will provide time for filers and vendors to become familiar with the new system prior to filing.
Other resources available to users as they prepare for filing HMDA data in 2018 using the HMDA Platform include:
For questions or concerns, the CFPB directed industry participants to email [email protected].
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