<\/span>HMDA rules<\/span><\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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In April 2020, a final rule was issued by the CFPB wherein the data-reporting thresholds were raised to 100 from 25 loans for collecting and reporting data about closed-end mortgage loans under the HMDA that became effective from July 1, 2020.<\/p>\n

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Regulators are allowed to analyze information on mortgage loans and mortgage lending trends in a number of categories, like the number of pre-approvals made, the number of mortgages granted, loan amounts, and the purposes of individual loans with HMDA reporting. <\/p>

The detailed approvals of different types of government-sponsored loans like the Federal Housing Administration, Farm Service Agency, Rural Housing Services, and Veterans Affairs loans are included in federal reporting.<\/p>\n

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Lenders are required by the Federal Regulation C to prominently display a poster in every branch office lobby that provides information on requesting their unique HMDA statistics. <\/p>

The CFPB data repository provides viewing of these statistics by the public online for free.<\/p>\n

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While potential borrowers have a natural interest in these statistics they are also an important research tool for investors researching banking and lending stocks. <\/p>

An investor can easily identify whether or not a lender is growing its core business just by comparing the most recent few years’ statistics.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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<\/span>Conclusion<\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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A law passed in 1975 that mandates mortgage lenders maintain certain records is the Home Mortgage Disclosure Act (HMDA).<\/p>\n

The intention of the implementation of the act was to create greater transparency and to protect borrowers in the residential mortgage market.<\/p>\n

These records allow regulators, public officials, and consumer watchdogs to monitor trends in mortgage borrowing and lending for compliance with fair housing and other laws and to direct housing investment and government funding to places that require it.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\tGet Today's Best Mortgage Rates<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

What Is the Home Mortgage Disclosure Act (HMDA)? The Home Mortgage Disclosure Act (HMDA) is a federal law which got approved in 1975.  According to this act, the mortgage lenders are required to keep records… Continue Reading The Home Mortgage Disclosure Act (HMDA) – An Amazing Guide<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":9701,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[38],"tags":[47,1734,1736,1737,1735,89],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.compareclosing.com\/blog\/wp-content\/uploads\/2021\/07\/The-Home-Mortgage-Disclosure-Act-HMDA-An-Amazing-Guide.jpg","_links":{"self":[{"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/posts\/9685"}],"collection":[{"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/comments?post=9685"}],"version-history":[{"count":5,"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/posts\/9685\/revisions"}],"predecessor-version":[{"id":12853,"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/posts\/9685\/revisions\/12853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/media\/9701"}],"wp:attachment":[{"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/media?parent=9685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/categories?post=9685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.compareclosing.com\/blog\/wp-json\/wp\/v2\/tags?post=9685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}