94 Fed. Res. Bull. 1 (2008)

handle is hein.journals/fedred94 and id is 1 raw text is: The 2007 HMDA Data
Robert B. Avery, Kenneth P. Brevoort, and Glenn B. Canner, of the Division of Research and
Statistics, prepared this article. Cheryl R . Cooper, Christa N. Gibbs, Rebecca Tsang, and Sean
Wallace provided research assistance.
[Note: This article is forthcoming in the Federal Reserve Bulletin.
The Home Mortgage Disclosure Act of 1975 (HMDA) requires most mortgage lending
institutions with offices in metropolitan areas to publicly disclose information about their home-
lending activity. The information includes characteristics of the home mortgages that lenders
originate or purchase during a calendar year, the geographic location of the properties related to
these loans, and demographic and other information about the borrowers.' The disclosures are
intended not only to help the public determine whether institutions are adequately serving their
communities' housing finance needs but also to facilitate enforcement of the nation's fair lending
laws and to inform investment in both the public and private sectors.
Under the 1975 act, the Federal Reserve Board implements the provisions of HMDA
through regulation.2 In addition, the Federal Financial Institutions Examination Council (FFIEC)
is responsible for collecting the HMDA data and facilitating public access to the information.3
Each September, the FFIEC releases summary tables pertaining to lending activity from the
previous calendar year for each reporting lender and an aggregation of home-lending activity by
'A description of the items reported under HMDA is provided in appendix A.
2 HMDA is implemented by Regulation C (12 C.F.R. pt. 203) of the Federal Reserve Board. More
information about the regulation is available at www.federalreserve.gov.
3 The FFIEC (www.ffiec.gov) was established by federal law in 1979 as an interagency body to prescribe
uniform examination procedures, and to promote uniform supervision, among the federal agencies responsible for
the examination and supervision of financial institutions. The member agencies are the Board of Governors of the
Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the
Office of the Comptroller of the Currency, and the Office of Thrift Supervision.

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