Citing “operational constraints,” the federal consumer financial protection agency Friday said it would discontinue as of Jan. 20 an email service alerting users of changes to Home Mortgage Disclosure Amendment (HMDA) requirements, the agency said.
The Consumer Financial Protection Bureau (CFPB) did not offer any details of what the “operational constraints” were.
“We appreciate your understanding of these operational changes and encourage financial institutions to continue providing feedback on their experience using the HMDA platform,” the Bureau said. It called the new policy “an important change to how HMDA platform updates and announcements will be communicated.
After Jan. 20, the agency said, subscribers to the HMDA mailing list will no longer receive email notifications.
The agency acknowledged that lenders deem information about platform updates and announcements important. It urged users to visit the agency website and its “HMDA Updates and Notes” webpage to “ensure you continue to have access to timely information. New updates will be tagged with an “Announcement” filter,” the agency said.
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