Common questions

What are the HMDA reporting requirements?

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What are the HMDA reporting requirements?

HMDA requires lenders to report the ethnicity, race, gender, and gross income of mortgage applicants and borrowers. Lenders must also report information regarding the pricing of the loan and whether the loan is subject to the Home Ownership and Equity Protection Act, 15 U.S.C. 1639.

What transactions are reportable in HMDA?

We will select the loan purpose as purchase, refinance/cash‐out refinance, home improvement, or other. A business purpose, dwelling secured loan is only HMDA reportable if the purpose of the loan is to purchase a dwelling, refinance a dwelling or improve a dwelling or the real property on which the dwelling is located.

What is the name of the report put out by CFPB?

Download HMDA data Each year thousands of financial institutions report data about mortgages to the public, under the Home Mortgage Disclosure Act (HMDA). We provide the data collected under HMDA from 2007-2017 for download.

How do I file a complaint with the CFPB?

The fastest way to get started is to go consumerfinance.gov/complaint. If you need help while you’re online, you can chat with one of our team members on the site. You can also submit a complaint over the phone by calling us at (855) 411-CFPB (2372), toll free.

What is a CFPB report?

The financial report provides readers with the summary results of the CFPB’s operational activity and it is the principal statement of our accountability to the American people, the United States Congress, and the President of the United States.

What is HMDA and why is it important?

To make sure a lender serves the housing finance needs of its community

  • To identify practices that might be discriminatory
  • To provide investors and public agencies with data to encourage investment,and to promote homeownership

    • What is reported to HMDA?

    All reportable HMDA loans must be reported as a separate line item upon the LAR sheet, which is then sent on an annual basis to the FFIEC . Each lender must list preset data that includes the date of the loan application, loan type, loan amount, and property location and disposition of the application (approved or not approved).

    What is HMDA reportable?

    Home Purchase Loans. HMDA requires that any loan secured by real estate made for the purpose of purchasing a home is reportable on an annual basis to the Federal Financial Institutions Examination Council (FFIEC), which is the federal reporting agency of the Federal Reserve Board.

    Are investment properties HMDA reportable?

    HMDA requires that any loan secured by real estate made for the purpose of purchasing a home is reportable on an annual basis to the Federal Financial Institutions Examination Council (FFIEC), which is the federal reporting agency of the Federal Reserve Board.

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