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About HMDA

The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1975 and made permanent in 1988. HMDA was established to: (1) help determine if lenders are serving the housing needs of the community in which they are located, (2) help public officials target public investments to attract private investment to areas where it is needed, and (3) provide data that assist regulatory agencies and the public in identifying possible discriminatory lending patterns and help enforce antidiscrimination laws.

HMDA was put into action by the Federal Reserve Board’s Regulation C (12 CFR Part 203). HMDA accordingly requires certain depository and for-profit non-depository mortgage lenders to collect, report, and disclose data about originations, purchases, and refinancings of home purchase and home improvement loans. Lenders must also report data about applications (including certain preapproval requests) that did not result in originations.

Regulation C requires that certain lenders report specific data about:

Each application or loan.
The data must include the application date, the action taken and the date of that action, the loan amount, the loan type and purpose, and—if the loan is sold—the type of purchaser.
Each applicant or borrower.
The data must include ethnicity, race, sex, and income.
Each property.
The data must include location and occupancy status.

Lenders report this information to their supervisory agencies on an application-by-application basis using a loan application register, a form commonly called the HMDA LAR. Lenders must make their HMDA LARs available to the public (with certain fields hidden to preserve applicants' privacy). The Federal Financial Institutions Examination Council (FFIEC), acting on behalf of the supervisory agencies, compiles the reported information and prepares an individual disclosure statement for each institution, aggregate reports for all covered lenders in each metropolitan area, and other reports. These disclosure statements and reports are available to the public.

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