Home Mortgage Disclosure Act

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Home Mortgage Disclosure Act (HMDA)

The Home Mortgage Disclosure Act (HMDA), enacted by Congress in 1975 and implemented by the Federal Reserve Board's Regulation C, requires lending institutions to annually report public loan data about the geographic distribution of their applications, originations, and purchases of home purchase and home improvement loans and refinancings.

Requires lenders to report data on the ethnicity, race, sex, income of applicants and borrowers, and other data.

Also directs the Federal Financial Institutions Examination Council (FFIEC), of which the Federal Reserve is a member, to make summaries of the data available to the public. This regulation provides the public loan data that can be used to assist:

In determining whether financial institutions are serving the housing needs of their communities
Public officials in distributing public sector investments so as to attract private investment to areas where it is needed
In identifying possible discriminatory lending patterns

This regulation applies to certain financial institutions, including banks, savings associations, credit unions, and other mortgage lending institutions.

Home Mortgage Disclosure Act Aggregation Project

Using loan data collected from each covered institution, the Federal Financial Institutions Examination Council (FFIEC) prepares disclosure statements and various reports for individual institutions in each MSA, showing lending patterns by location, age of housing stock, income level, sex and racial characteristics. The disclosure statements and reports are made available to the public at central depositories located in each MSA. Requests for the list of central depositories should be forwarded to the FFIEC.

Federal Financial Institutions Examination Council
2100 Pennsylvania Ave, NW
Suite 200
Washington, DC 20037

For more information on federal credit regulations and consumer rights go to the Federal Trade Commission (FTC) website at www.ftc.gov or www.federalreserve.gov
Some state laws may provide you with additional rights. For information go to the website of the National Association of Attorneys General (NAAG) at www.naag.org.

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