The Federal Financial Institutions Examination Council announced the availability of 2011 data on mortgage lending transactions as required under the Home Mortgage Disclosure Act. The CFPB, as one of the agencies within the FFIEC, also issued a press release on the availability of the data. HMDA requires financial institutions to annually disclose data about their lending operations including their applications, originations, and purchases of home purchase loans, refinancings, and home improvement loans. HMDA requires institutions to provide information on the loan (i.e., purpose of the loan); the property location; applicant information (i.e., ethnicity, race, gender and annual income); pricing-related data (i.e., rate spread between APR and average prime offer rate); and other optional data (e.g., reasons for loan denial).
Alert October 02, 2012