Bureau updates HMDA FAQs with topic covering race, ethnicity, sex information collected

An update to “frequently asked questions” (FAQs) related to Home Mortgage Disclosure Act (HMDA) dealing with ethnicity, race and sex has been published, the federal consumer financial protection agency said Friday.

Additionally, the agency announced a survey about its compliance and guidance website.

The update to the Consumer Financial Protection Bureau’s (CFPB) HMDA FAQs addresses the question of: “If a natural person applicant submits a mail, internet, or telephone application under Regulation C but does not provide race, ethnicity, or sex information, what should the financial institution report regarding whether this information was collected on the basis of visual observation or surname?”

The new question raises the number of HMDA FAQs in this area to seven.

The agency’s list of HMDA FAQs covers the areas of: universal loan identifier (UAL); legal entity identifier (LEI); ethnicity, race and sex; discount points; and construction and construction/permanent transactions.

Meanwhile, the agency is seeking feedback from users about its compliance and guidance website, issuing a survey to collect the information. Among other things, the agency is seeking information about resources used by visitors, frequency of visits by users, and usefulness of information.

Home Mortgage Disclosure Act FAQs

Survey on compliance, guidance website

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