Office of Financial and Insurance Regulation (OFIR): Home mortgage disclosure act data available

Home mortgage disclosure act data available

The Office of Financial and Insurance Regulation (OFIR) announced that the 2007 data compiled under the Federal Home Mortgage Disclosure Act are available from the Federal Financial Institutions Examination Council (FFIEC). The data covers mortgage lending transactions throughout the nation at 8,610 financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include, but are not limited to, banks, savings associations, credit unions, and independent mortgage companies.
The HMDA data made available cover lending activity – applications for loans, loan originations and denials, and purchases of loans – from 2007. The data include 21.4 million applications and originations and 4.8 million purchases, for a total of 26.2 million actions reported by all covered institutions in 2007. Demographic information for each metropolitan area is also available.
The HMDA was enacted by Congress in 1975 and is implemented by the Federal Reserve Board’s Regulation C. This regulation provides the public loan data that can be used to assist:
• in determining whether financial institutions are serving the housing needs of their communities;
• public officials in distributing public-sector investments so as to attract private investment to areas where it is needed;
• and in identifying possible discriminatory lending patterns.
Both summary and institution specific data are available to the public in a variety of media formats from the Federal Financial Institutions Examination Council (FFIEC) and can be accessed at http://www.ffiec.gov/hmda. An order form and ordering instructions are available at http://www.ffiec.gov/hmda/orderform.htm to obtain specific information.

4 Responses

  1. aren’t private loans subject to this act? the brokerage that originated the loan has a valid california license

  2. From a cursory glance, this data demonstrates patterns and trends, such as might be useful in measuring compliance, but is there some way to use it as Mario and Darrell ask?

    Is there a way to trace an individual loan along the securitization conduit?

    RSVP
    Allan
    BeMoved@AOL.com

  3. Is there information there that can be used in a suit or for questioning witnesses in a note trial?

  4. I believe that a mortgage loan audit could include information derived from this above above agency.I went to their links provided and found some intresting data

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