Home Mortgage Disclosure Act


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Home Mortgage Disclosure Act

Legislation in the United States, passed in 1975, that requires financial institutions to keep records on mortgages, refinancing loans and other loans made on single and multi-family homes. The Act is designed to help HUD police banks make sure they do not discriminate against geographic regions or other protected criteria in making loans.

Home Mortgage Disclosure Act

A federal law requiring lenders with federally related loans to report the number of mortgage loan applications and the number of actual mortgage loans in different parts of their service areas.The Act is designed to shed light on discriminatory practices and thereby eliminate them. Reports are available on the Web site of the Federal Financial Institutions Examination Council,www.ffiec.gov/hmda.

References in periodicals archive ?
It implements the Home Mortgage Disclosure Act (HMDA).
The Bureau also announced it intends to open a rulemaking to reconsider changes made to the Home Mortgage Disclosure Act by the Dodd-Frank Act.
Ellie Mae (NYSE: ELLI), a provider of innovative on-demand software solutions and services for the residential mortgage industry, has announced a complete offering of readiness initiatives in advance of the 2018 Home Mortgage Disclosure Act and Regulation C (HMDA) collection and reporting changes, the company said.
A financial services industry veteran, Kramer has considerable experience in compliance strategy in relation to the Community Reinvestment Act, Home Mortgage Disclosure Act, fair lending, and anti-money laundering measures, as well as the Bank Secrecy Act.
The CFPB said it opened a 60-day comment period to help determine if the changes to its Home Mortgage Disclosure Act Resubmission Guidelines are appropriate for the HMDA data submitted as a result of recent Regulation C changes.
The Home Mortgage Disclosure Act (HMDA) expanded data-collection rulemaking was listed by 67 percent of those surveyed as a top concern.
1 in home mortgage loans made in 2011 represented a 10 percent decline from the previous year and was the lowest total since 199), according to data reported under the Home Mortgage Disclosure Act (HMDA) and summarized in a paper by Federal Reserve Board researchers.
The OTS fined Lydian after its December 2009 examination found that the bank did not properly report borrower information under the Home Mortgage Disclosure Act.
markets are potentially more susceptible to home mortgage foreclosure, the Wall Street Journal, with data from RealtyTrac and the Home Mortgage Disclosure Act, recently reported on where the highest percentage of high-rate mortgage loans were taken out among total mortgage loans.
Although white families receive more subprime loans overall, African Americans and Latinos receive a higher proportion of high-cost loans than any other group, a fact consistently verified annually by data lenders submit under the Home Mortgage Disclosure Act (HMDA).
The Home Mortgage Disclosure Act is treated for the first time in this update.
For the first time last year, the Home Mortgage Disclosure Act mandated that financial institutions report details about their mortgage lending transactions to the Federal Financial Institutions Examination Council, an interagency body regulated by the Federal Reserve.
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