Home Mortgage Disclosure Act
- Home Mortgage Disclosure Act
Home Mortgage Disclosure Act ( HMDA) (Pronounced hum-da).
A Federal statute that requires most lenders in metropolitan areas to collect data about their housing-related lending activity. Lenders must file annual reports with their Federal supervisory agencies and make disclosures available to the public regarding their origination of housing-related loans. The reports cover loan originations, applications that are declined or withdrawn, and loan purchases. The data is used to evaluate possible discrimination in loan approvals. The Federal Reserve Board of Governors has adopted Regulation C to implement this statute. The information collection requirements were expanded in 2004.
Financial and business terms.
2012.
Look at other dictionaries:
Home Mortgage Disclosure Act — The United States Home Mortgage Disclosure Act (or HMDA, pronounced HUM duh) was passed in 1975. It requires financial institutions to maintain and annually disclose data about home purchases, home purchase pre approvals, home improvement, and… … Wikipedia
Home Mortgage Disclosure Act - HMDA — A federal act approved in 1975 that requires mortgage lenders to keep records of certain key pieces of information regarding their lending practices. This information includes the number of pre approvals made, the number of mortgages granted,… … Investment dictionary
Mortgage discrimination — or mortgage lending discrimination is the practice of banks, governments or other lending institutions denying loans to one or more groups of people primarily on the basis of race, ethnic origin, sex or religion. One of the most notable instances … Wikipedia
Community Reinvestment Act — The Community Reinvestment Act (CRA, Pub.L. 95 128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial… … Wikipedia
Emergency Economic Stabilization Act of 2008 — This article is about one division of an enacted statute. For the entire statute, see Public Law 110 343. For the enacted rescue program, see Troubled Asset Relief Program. The Emergency Economic Stabilization Act of 2008 (Division A of Pub.L.… … Wikipedia
Credit CARD Act of 2009 — CARD redirects here. For other uses, see CARD (disambiguation). Credit Card Accountability Responsibility and Disclosure Act of 2009 Full title An Act to amend the Truth in Lending Act to establish fair and transparent practices relating to the… … Wikipedia
Bank Secrecy Act — The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering.… … Wikipedia
Depository Institutions Deregulation and Monetary Control Act — The Depository Institutions Deregulation and Monetary Control Act, a United States federal financial statute law passed in 1980, gave the Federal Reserve greater control over non member banks. It forced all banks to abide by the Fed s rules. It… … Wikipedia
Federal Reserve Act — Full title An Act To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for… … Wikipedia
McFadden Act — The McFadden Act is a United States federal law, named after Louis Thomas McFadden member of the United States House of Representatives and Chairman of the United States House Committee on Banking and Currency, enacted in 1927 from… … Wikipedia
