HUD: Partnership Announced with the National Association of Real Estate Brokers (NAREB) to Address Appraisal Bias and Discrimination
Partnership will increase education, outreach, and other efforts to tackle appraisal bias and discrimination. The U.S. Department of Housing and Urban Development (HUD) and the National Association of Real Estate Brokers (NAREB) unveiled today a partnership aimed at tackling appraisal bias and discrimination in the housing market. This historic collaboration, set to launch in the…
FFIEC: Availability of 2022 Data on Mortgage Lending Announced
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive publicly available information on mortgage market activity. The…
CFPB: FFIEC Announces Availability of 2022 Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive publicly available information on mortgage market activity. The…
CFPB: Artificial Intelligence, Automated Systems and Advanced Technology Have the Potential to Result in Unlawful Discrimination
CFPB and Federal Partners Confirm Automated Systems and Advanced Technology Not an Excuse for Lawbreaking Behavior Four federal agencies jointly pledged today to uphold America’s commitment to the core principles of fairness, equality, and justice as emerging automated systems, including those sometimes marketed as “artificial intelligence” or “AI,” have become increasingly common in our daily…
FHFA: Notice of Proposed Rulemaking on Fair Lending Oversight Issued
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comment on a proposed rule that would formalize many of the Agency’s existing practices and programs regarding fair housing and fair lending oversight of its regulated entities. Specifically, the proposed rule would codify in regulation: FHFA’s fair lending oversight requirements for Fannie Mae…
OCC: FFIEC’s 2023 “A Guide to HMDA Reporting: Getting It Right!” Released
The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!” (2023 guide). The 2023 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR…
FHFA: Appraisal Subcommittee Hearing on Appraisal Bias Scheduled for May 19th
This will be the second public hearing on appraisal bias held by the ASC The Federal Housing Finance Agency (FHFA) will host the Appraisal Subcommittee (ASC) on Friday, May 19, 2023, for its second public hearing on appraisal bias in coordination with ASC member agencies. The intent of this hearing is to explore the current…
FHFA: Updated Equitable Housing Finance Plans for Fannie Mae and Freddie Mac Announced
Agency also releases updated Enterprise fair lending data The Federal Housing Finance Agency (FHFA) today announced updates to Fannie Mae and Freddie Mac’s (the Enterprises) Equitable Housing Finance Plans for 2023. The updates build upon the inaugural plans first announced last year and make adjustments based on initial research and findings. The Equitable Housing Finance…
HUD: $54 Million Awarded to 182 Grantees in 42 States to Fight Housing Discrimination
Ahead of anniversary of PAVE Action Plan, some grants empower organizations to test for appraisal bias and educate local communities The U.S. Department of Housing and Urban Development (HUD) today awarded $54 million to 182 fair housing organizations across the country under its Fair Housing Initiatives Program (FHIP). The grants will provide $28,200,000 to support the…
CFPB: 2022 HMDA Data on Mortgage Lending Released for HMDA Filers
The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2022 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for approximately 4,394 HMDA filers. The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy. To increase public accessibility, the annual loan-level…