The CFPB finalized updates to Home Mortgage Disclosure Act reporting requirements Oct. 15 that increased the transactions required under Regulation C.
New required information included the property value, term of the loan and the duration of any teaser or introductory interest rates. Lenders will also be required to provide more information about mortgage loan underwriting and pricing, such as an applicant's debt-to-income ratio, the interest rate of the loan and the discount points charged for the loan.
Mortgage lenders will also be required to report information about all applications and loans secured by dwellings, including reverse mortgages and open-end lines of credit.
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