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Home Mortgage Disclosure Act (HMDA) - Business Background

The Home Mortgage Disclosure Act (HMDA), implemented by Federal Reserve Board Regulation C (12 CFR Part 203), requires certain financial institutions to report data about home purchase loans, home improvement loans, and refinancings that they originate or purchase, or for which they receive applications; and to disclose certain information to the public. This regulation applies to banks, savings associations, credit unions, and other mortgage lending institutions. The Federal Financial Institutions Examination Council (FFIEC) collects, prepares, and provides public access to the reported information. The public loan information is 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
in identifying possible discriminatory lending patterns

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Institutions reporting FHA/HUD HMDA information (AKA, HUD reporters) use the FHA Connection's Home Mortgage Disclosure Act features to report the required information to the FFIEC. The Home Mortgage Disclosure Act menu options are listed and described below:

•	HMDA Data Upload	Allows HUD reporters to submit HMDA reports to the FFIEC.
•	HMDA Transaction Edit Report	Allows HUD reporters to get a Transaction Edit Report summarizing the number of Loan Application Registers (LARs) successfully submitted and itemizing LARs rejected due to errors. (Rejected LARs must be resubmitted to be in compliance with HMDA requirements.)
•	HMDA FFIEC Data Entry Software (FREE)	Provides access to the FFIEC website from which free HMDA Data Entry Software is available. The software includes editing features to help HUD reporters verify and analyze the accuracy of the data. The data file created using this software is submitted via HMDA Data Upload.
•	HMDA Exemption Reporting	Allows exempt HUD reporters to submit the required Exemption Report which states the reason the reporter will not submit a HMDA report during the current reporting period.

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The Home Mortgage Disclosure Act (HMDA) menu is accessed through the following sequence of FHA Connection links: Single Family FHA, HMDA Data Submissions. Then choose from the menu items: HMDA Data Upload, HMDA Transaction Edit Report, HMDA FFIEC Data Entry Software (FREE), or HMDA Exemption Reporting.

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For additional information regarding HUD reporting requirements and/or the Home Mortgage Disclosure Act, call the HUD HMDA Assistance Line at 202-755-7530 or send an e-mail to HMDA@hud.gov. HMDA reporting specifics, Frequently Asked Questions (FAQs), and FFIEC free software information can be found at the Federal Financial Institutions Examination Council website: www.ffiec.gov.

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