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REGULATORY DISCLOSURE REQUIREMENTS


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

HOME MORTGAGE DISCLOSURE ACT INFORMATION SHEET

THE HOME MORTGAGE DISCLOSURE ACT (HMDA) REQUIRES LENDING INSTITUTIONS TO MAKE ANNUAL PUBLIC DISCLOSURES OF THEIR HOME MORTGAGE AND HOME IMPROVEMENT LENDING ACTIVITY. DISCLOSURES ARE PUBLICLY AVAILABLE NOT ONLY AT THE INSTITUTIONS' OWN OFFICES, BUT ALSO AT A CENTRAL DEPOSITORY IN EACH METROPOLITAN (MSA). THESE CENTRAL DEPOSITORIES SERVE ON A VOLUNTARY BASIS. IN ADDITION TO EACH LENDING INSTITUTION'S INDIVIDUAL DISCLOSURE STATEMENT, AGGREGATE DATA TABLES COVERING THE LENDING ACTIVITY OF ALL INSTITUTIONS SUBJECT TO HMDA IN A PARTICULAR MSA ARE MADE AVAILABLE AT THE CENTRAL DEPOSITORY FOR THAT MSA.

THE HMDA DATA ARE AVAILABLE ON CD-ROM AND THE WEB. BECAUSE BOTH DISTRIBUTION MEDIA CONTAIN DATA FROM THE UNIVERSE OF REPORTERS, USERS OF EITHER MEDIUM WILL HAVE ACCESS TO THE DISCLOSURE STATEMENTS AND AGGREGATE TABLES FOR EACH MSA NATIONWIDE.

AS IN THE PAST, TO CATEGORIZE CENSUS TRACTS BY INCOME WE RELY ON THE 2000 CENSUS TO DETERMINE THE MEDIAN FAMILY INCOME FOR EACH MSA, AND FOR CATEGORIZING APPLICANTS OR BORROWERS WE RELY ON INFORMATION OBTAINED FROM THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR AN UPDATED ESTIMATE OF THE MEDIAN FAMILY INCOME FOR EACH MSA.

RESPONSIBILITIES OF CENTRAL DEPOSITORIES

CENTRAL DEPOSITORIES ARE ASKED TO KEEP THE DATA TABLES TOGETHER IN ONE LOCATION TO THE EXTENT POSSIBLE. THE CENTRAL DEPOSITORIES ARE RESPONSIBLE FOR: RECEIVING AND STORING THE HMDA DATA AS FORWARDED FROM THE FFIEC; RETAINING THE DATA FOR PUBLIC DISCLOSURE FOR A PERIOD OF 5 YEARS; AND MAKING THE DATA AVAILABLE FOR PUBLIC INSPECTION DURING REGULAR OFFICE HOURS AND ALLOWING THE PUBLIC TO OBTAIN OR MAKE COPIES OF THE DATA AT THE COPYING RATE NORMALLY CHARGED.

THE DEPOSITORY PERFORMS A VALUABLE PUBLIC SERVICE BY PROVIDING, ON A VOLUNTARY BASIS, A PHYSICAL LOCATION FOR STORAGE OF THE HMDA DATA.TO FIND OUT WHERE CENTRAL DEPOSITORIES ARE LOCATED, CONTACT YOUR SUPERVISORY AGENCY OR THE FFIEC. THE AGGREGATE TABLES AND DISCLOSURE STATEMENTS WILL ALSO BE AVAILABLE ON THE WEB AT WWW.FFIEC.GOV. ANY QUESTIONS OR COMMENTS ABOUT THE HMDA DATA MAY BE DIRECTED IN WRITING TO THE EXECUTIVE SECRETARY, FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL, 3510 FAIRFAX DRIVE, ROOM 3086, ARLINGTON, VA 22226.

CONTENT OF 2003 DISCLOSURES

THE FOLLOWING IS A LIST OF THE TABLES THAT HAVE BEEN PREPARED COVERING THE DATA FOR CALENDAR YEAR 2003:
 
 
TABLE NUMBER DESCRIPTION
TABLE 1 DISPOSITION OF LOAN APPLICATIONS, BY LOCATION OF PROPERTY AND TYPE OF LOAN
TABLE 2 LOANS PURCHASED, BY LOCATION OF PROPERTY AND TYPE OF LOAN
TABLE 3 LOANS SOLD, BY CHARACTERISTICS OF BORROWER AND OF CENSUS TRACT IN WHICH PROPERTY IS LOCATED AND BY TYPE OF PURCHASER
TABLES 4-1 THROUGH 4-6 DISPOSITION OF APPLICATIONS FOR LOANS, BY RACE, GENDER AND INCOME OF APPLICANT (ONE FOR EACH LOAN TYPE: FHA, FSA/RHS, AND VA; CONVENTIONAL; REFINANCING; HOME IMPROVEMENT; MULTIFAMILY; AND NONOCCUPANT)
TABLES 5-1 THROUGH 5-6 DISPOSITION OF APPLICATIONS FOR LOANS, BY INCOME AND RACE OF APPLICANT (ONE FOR EACH LOAN TYPE)
TABLES 6-1 THROUGH 6-6 DISPOSITION OF APPLICATIONS FOR LOANS, BY INCOME AND GENDER OF APPLICANT (ONE FOR EACH LOAN TYPE)
TABLES 7-1 THROUGH 7-6 DISPOSITION OF APPLICATIONS FOR LOANS, BY CHARACTERISTICS OF CENSUS TRACT IN WHICH PROPERTY IS LOCATED (ONE FOR EACH LOAN TYPE)
TABLES 8-1 THROUGH 8-6 REASONS FOR DENIAL OF APPLICATIONS FOR LOANS, BY RACE, GENDER AND INCOME OF APPLICANT (ONE FOR EACH LOAN TYPE)
TABLE 9 DISPOSITION OF LOAN APPLICATIONS, BY MEDIAN AGE OF HOMES IN CENSUS TRACT IN WHICH PROPERTY IS LOCATED AND TYPE OF LOAN (AGGREGATE DATA ONLY)
TABLE 10 DISPOSITION OF LOAN APPLICATIONS, BY CENTRAL CITY VERSUS NON-CENTRAL CITY PROPERTY LOCATION AND TYPE OF LOAN (AGGREGATE DATA ONLY)