August 27, 2020

CFPB: Analysis of 2019 HMDA Data Points Issued

Today the Consumer Financial Protection Bureau (Bureau) issued a new Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data. This data article is the second in a series and follows the first article  published in June of this year.

The Home Mortgage Disclosure Act (HMDA) is a data collection, reporting, and disclosure statute that was enacted in 1975. The HMDA data are the most comprehensive source of publicly available information on the U.S. mortgage market, and the only publicly-available and free source that provides nationwide application-level data on the demand and supply of mortgage credit. The data are used to assist in determining whether financial institutions are serving the housing needs of their local communities; facilitate public entities’ distribution of funds to local communities to attract private investment; and help identify possible discriminatory lending patterns. Institutions covered by HMDA are required to annually collect and report specified information about each mortgage application acted upon and mortgage purchased during the prior calendar year.

In the Dodd-Frank Act, Congress amended HMDA to require reporting of new data points. Additionally, the Bureau issued a HMDA Rule in 2015 revising certain data points and requiring the reporting of new ones. This article presents findings based on these new and revised data points in the 2019 HMDA Data, the second year in which such data were required.

Some of the findings in this year’s data points article include:

To read the second HMDA data point article click here: 

This post was originally published here.