Loanfactz Definitions
Glossary of Legal Terms, Loan Terms and Home Construction, Repair and Maintenance Definitions. Some words have more than one meaning. Only those meanings relating to this site will be used.
All of H
Home Mortgage Disclosure Act (HMDA) of 1975
Requires mortgage lenders to annually disclose to the public loan data about the geographic distribution of their applications, originations, and purchases of home purchase and home improvement loans and refinancings. It requires lenders to report data on the ethnicity, race, sex, income of applicants and borrowers, and other data. It also directs the Federal Financial Institutions Examination Council, of which the Federal Reserve is a member, to make summaries of the data available to the public.
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