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 ?
Release date- 30082019 - The Federal Financial Institutions Examination Council today released the 2018 Home Mortgage Disclosure Act data on mortgage lending transactions at 5,683 financial institutions.
Congress enacted The Home Mortgage Disclosure Act (HMDA) in 1975 to combat credit shortages in urban neighborhoods throughout the United States.
Senator Catherine Cortez Masto (D-Nev.) joined Senator Sherrod Brown (D-Ohio) and 17 other senators in demanding the Consumer Financial Protection Bureau (CFPB) rescind its proposal to further reduce reporting under the Home Mortgage Disclosure Act (HMDA).
The latest version provides a number of valuable enhancements: improved property insurance tracking, Risk Based Capital (RBC) reporting and comprehensive Home Mortgage Disclosure Act (HMDA) compliance.
The study used Home Mortgage Disclosure Act (HMDA) data that includes over 7 million mortgages originated in 2017 to calculate the leverage rate of borrowers in the 50 largest cities in America.
The significant expansion of lender data now required under new Home Mortgage Disclosure Act (HMDA) rules places a new, heightened level of potential scrutiny on lenders and their fair lending practices, a topic that will be explored in depth in this year's sessions.
The prior Home Mortgage Disclosure Act (HMDA) reporting requirements still apply, so there will still be a HMDA LAR to document, scrub and report.
Home Mortgage Disclosure Act (HMDA) origination data for 2016 shows mortgages of more than $500,000 accounted for 3.5% of the number of owner-occupant, single-family mortgages, and 14.7% of their value.
Chetu's award-winning software development solutions span the entire Mortgage Software spectrum with development experts that comply with Consumer Financial Protection Bureau's (CFPB) fair lending standards including the TILA-RESPA Integrated Disclosure (TRID) rule and the Home Mortgage Disclosure Act (HMDA).
The Home Mortgage Disclosure Act (HMDA) expanded data-collection rulemaking was listed by 67 percent of those surveyed as a top concern.
According to the most recent Home Mortgage Disclosure Act data, 1.3 million conventional mortgage loans were made in 2012; of those, Latinos received only 69,217 loans, African-Americans received 29,405 loans, and Asian American Pacific Islanders received 2,697 loans.
The researchers use loan-level data on mortgage originations and performance for 1999 to 2009 from the Home Mortgage Disclosure Act, collected by the Federal Financial Institutions Examination Council, and data from the Federal Reserve Bank of Chicago that contains information on CRA exams.