Report on the Home Mortgage Disclosure Act Rule Voluntary Review
This report contains the findings of the Bureau’s voluntary review of the final rule on the Home Mortgage Disclosure Act the Bureau issued in October 2015 (2015 HMDA Final Rule) and related amendments (collectively, the HMDA Rule). Section 1022(d) of the Dodd-Frank Act requires the Bureau to conduct an assessment of each significant rule or order adopted by the Bureau under Federal consumer financial law. The assessment must address, among other relevant factors, the Rule’s effectiveness in meeting the purposes and objectives of title X of the Dodd-Frank Act and the specific goals stated by the Bureau. The assessment must reflect available evidence and any data that the Bureau reasonably may collect. Before publishing a report of its assessment, the Bureau must invite public comment on recommendations for modifying, expanding, or eliminating the significant rule or order. The Bureau previously determined that the HMDA Rule is not a significant rule for purposes of section 1022(d), and therefore the Bureau is not required to conduct an assessment under the Dodd-Frank Act. The Bureau’s review is, therefore, voluntary.