Which regulation provides HMDA data on website?
Click here to sign up for e-mail notices of website updates. The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1975 and was implemented by the Federal Reserve Board’s Regulation C.Click to see full answer. Similarly, you may ask, what is included in HMDA data?The HMDA asks lenders to identify the sex, race,…
Click here to sign up for e-mail notices of website updates. The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1975 and was implemented by the Federal Reserve Board’s Regulation C.Click to see full answer. Similarly, you may ask, what is included in HMDA data?The HMDA asks lenders to identify the sex, race, and income of those applying for or obtaining mortgages. This data allows the FFIEC to monitor trends in housing and mortgage borrowing and lending, such as, for example, a reported increase in mortgage borrowing by blacks and Hispanics as of 1993. how do I submit HMDA data? Credit unions must submit their HMDA data using a web interface referred to as the HMDA Platform. No other submission methods are permitted. Credit unions will use the HMDA Platform to upload their LAR data, review and make edits, certify the accuracy and completeness of the data, and submit data for the filing year. Simply so, how is HMDA data used? HMDA provides the public with loan data that can be used to: Determine if financial institutions are serving the housing credit needs of their neighborhoods and communities; Help identify possible discriminatory lending patterns and assist regulatory agencies in enforcing compliance with anti-discrimination statutes.WHO publishes HMDA data?Pursuant to the Dodd–Frank Wall Street Reform and Consumer Protection Act as of 2018 HMDA data was to be submitted to the Consumer Financial Protection Bureau via online portal. The first year of data to be submitted via this process includes loans made in 2017.
