HMDA/Reg C

HMDA/Reg C

1. Home Mortgage Disclosure Act

2. Determine the depository institutions are meeting the housing needs of their communities

   • Depositary Institutions
     • Assets that exceed an annually published threshold on the preceding December 31st
       • A home or branch office in a metroplitan statistical area on the preceding December 31st
         • Origination of at least one home-purchase loan or refinancing of a home-purchase loan, secured by a first lien on a one-to four-family dwelling within the preceding calander year
           • The institution is federally insured or regulated, or the mortgage loans made by the institution was (were) insured, guaranteed or supplemented by a federal agency
   • Non-depository mortgage lending institutions
     • Orgination of home-purchase home loans and refinances that wither equal at least 10% of its loan originations volume or that equal $25 million or more within the preceding year
       • A home ore branch office in a metropolitan statistcal area preceding December 31st
         • Total assets as of the preceding December 31st of more the $10 million, including the assets of any parent corporation of the origination of at least 100 home purchase loans, including refinances of home purchase loans, within the previous year

3. Identify discriminatory lending practices and patterns, which can result in enforcement actions to ensure compliance with fair lending laws

   • Requires extensive data to be collected
     • The date an application was receicved , with an identifying loan number
       • The type of loan or loan application
         • The purpose and amount of the loan
           • Whether the application was a pre-approval and how it resulted
             • location of the property related to the loan
               • The owner/occupant status of the loan
                 • Ethnicity, race, sex and income of the applicant

4. Determine how to distribute public-sector investments where they are needed