What is HMDA?

1
What Is HMDA?

• Nathan Carlisle

2
The HMDA Scrutiny is Intense
Those who act as regulators to ensure lending
practices are on the up and up, have the duty
of determining whether or not lending
institutions are meeting the needs of the
potential borrowers in a given community.  This
means government-backed lenders who offer any
type of mortgage are obligated to reveal the
number of and the monetary value of all approved
residential mortgages that were provided within
the previous year and this would also include
the specific communities that received those
loans.
3
Public Disclosure

• Disclosure statements intended for public viewing
  would include the following information
  regarding
• 1 Loans includes data concerning applications,
  amounts and types of loans, reasons for denials
  etc.
• 2  Applicants  includes demographics including
  ethnicity and gender
• 3  Lenders  includes names of lenders and which
  agencies regulate them

4
HMDA Scrutiny is Justified
Unfortunately, predatory lending and abusive
residential mortgage lending practices are more
prevalent than many people realize.  Unethical
lending feeds the foreclosure rates that no
community wishes to be a part of since property
values become negatively impacted when higher
foreclosures are prevalent.
5

• Thank you

For more information check out our blog post
http//www.nathancarlisle.com/blog/what-is-hmda/