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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 MOST METROPOLITAN STATISTICAL AREAS/METROPOLITAN DIVISIONS (MSA/MDs). 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 EACH MSA/MD FOR THE ENTIRE NATION ARE MADE AVAILABLE AT THE CENTRAL DEPOSITORIES.

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 INDIVIDUAL DISCLOSURE STATEMENT FOR EACH INSTITUTION REPORTING HMDA AND AGGREGATE TABLES FOR EACH MSA/MD 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/MD.  FOR CATEGORIZING APPLICANTS OR BORROWERS, WE RELY ON INFORMATION OBTAINED FROM THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) FOR AN UPDATED ESTIMATE OF THE MEDIAN FAMILY INCOME FOR EACH MSA/MD.

CHANGES FOR 2004 DATA

THE HMDA REGULATIONS WERE REVISED TO REQUIRE CHANGES IN DATA REPORTING FOR DATA BEGINNING IN CALENDAR YEAR 2004. THE REVISIONS REQUIRE REPORTING OF NEW DATA AND SOME CHANGES IN THE REPORTING OF EXISTING DATA. IN ADDITION, THE FORMATS FOR THE DISCLOSURE TABLES HAVE BEEN REVISED, AND NEW TABLES HAVE BEEN ADDED.

THE PRINCIPAL CHANGES TO THE TABLE FORMATS ARE AS FOLLOWS. TABLES 1 AND 2 NOW INCLUDE SEPARATELY ITEMIZED DATA ON MANUFACTURED HOUSING LOANS. TABLE 3 IS REDESIGNATED TABLE 3-1 AND THE CATEGORIES OF TYPES OF PURCHASERS OF LOANS ARE REVISED. NEW TABLE 3-2 SHOWS LOAN PRICING DATA FOR LOANS SOLD. NEW TABLES 4-7, 5-7, 7-7, AND 8-7 SHOW DATA ON MANUFACTURED HOUSING LOANS. THE TABLE 6 SERIES IS DELETED. AGGREGATE TABLES 9 AND 10 INCLUDE SEPARATELY ITEMIZED DATA ON MANUFACTURED HOUSING LOANS. THE NEW TABLE 11 SERIES SHOWS LOAN PRICING DATA FOR VARIOUS CATEGORIES OF 1-TO-4 FAMILY OWNER-OCCUPIED HOME LOANS. THE NEW TABLE 12 SERIES SHOWS LOAN PRICING DATA, AS WELL AS DATA ON DISPOSITION OF APPLICATIONS, FOR MANUFACTURED HOUSING LOANS. THE NEW SUMMARY TABLE A SERIES SHOWS DATA ON DISPOSITION OF APPLICATIONS AND ON DISPOSITION OF PREAPPROVALS, SUMMARIZED TO SHOW MSA/MD-LEVEL AND NATIONWIDE-LEVEL ACTIVITY OF THE INSTITUTION. THE NEW SUMMARY TABLE B SHOWS DATA ON LOAN PRICING, AGAIN SUMMARIZED AT THE MSA/MD AND NATIONWIDE LEVEL OF THE INSTITUTION.

IN ADDITION, THE DATA IN THE TABLES ARE AFFECTED BY REVISIONS TO THE DEFINITIONS OF “HOME IMPROVEMENT LOAN” AND “REFINANCING,” AND BY AN EXPANSION IN THE COVERAGE OF NONDEPOSITORY LENDERS. ALSO, THROUGHOUT THE TABLES, THE RACE AND ETHNICITY CATEGORIES HAVE BEEN REVISED TO CONFORM TO GUIDANCE ADOPTED BY THE OFFICE OF MANAGEMENT AND BUDGET (OMB).

FOR FURTHER INFORMATION ON THE REVISIONS IN THE DATA REPORTING REQUIREMENTS, SEE THE FEDERAL RESERVE’S NOTICES PUBLISHED IN THE FEDERAL REGISTER ON FEBRUARY 15, 2002 (67 FR 7222), MAY 8, 2002 (67 FR 30771), AND JUNE 27, 2002 (67 FR 43218). FOR FURTHER INFORMATION ABOUT THE REVISED TABLE FORMATS, SEE THE NOTICE PUBLISHED DECEMBER 20, 2004 (69 FR 76189). FOR FURTHER INFORMATION ABOUT THE OMB GUIDANCE, SEE THE NOTICE PUBLISHED OCTOBER 30, 1997 (62 FR 58782).

NOTE THAT, IN ALL TABLES REFLECTING LOAN PRICING DATA, LOANS WITH AN APPLICATION DATE PRIOR TO JANUARY 1, 2004 ARE EXCLUDED. THIS ADDRESSES POTENTIAL DISTORTIONS OF THE DATA THAT MIGHT OTHERWISE ARISE BECAUSE OF THE SPECIAL TRANSITION RULE, APPLICABLE TO 2004 DATA, WHICH ALLOWS INSTITUTIONS TO OMIT REPORTING RATE SPREAD ON A LOAN IF THE RATE WAS SET BEFORE THAT DATE. FOR MORE INFORMATION ON THE TRANSITION RULE, SEE THE NOTICE PUBLISHED MAY 28, 2003 (68 FR 31589).

FINALLY, NOTE THAT THE TABLES ARE BASED ON THE REVISED MSA/MD BOUNDARIES THAT WERE ANNOUNCED BY THE OFFICE OF MANAGEMENT AND BUDGET IN BULLETINS PUBLISHED ON JUNE 6, 2003 AND FEBRUARY 18, 2004, AND THAT TOOK EFFECT, FOR HMDA PURPOSES, STARTING IN 2004. THE REVISIONS MAY AFFECT YEAR-OVER-YEAR COMPARISONS OF DATA IN SOME CASES.

THE FEDERAL REGISTER NOTICES AND BULLETINS MENTIONED ABOVE ARE AVAILABLE ON THE FEDERAL RESERVE’S WEBSITE, AT WWW.FEDERALRESERVE.GOV/BOARDDOCS/PRESS/BCREG/2005/, AND ON OMB’S WEBSITE, AT WWW.WHITEHOUSE.GOV/OMB/BULLETINS/ AND WWW.WHITEHOUSE.GOV/OMB/FEDREG/1997STANDARDS.HTML.

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 2004 AGGREGATE AND DISCLOSURE STATEMENT TABLES

A DISCLOSURE STATEMENT MAY CONTAIN UP TO 49 TABLES FOR EACH MSA/MD. IN ADDITION, A DISCLOSURE STATEMENT MAY CONTAIN TWO SUPPLEMENTAL TABLES, AND SUMMARY TABLES A-1 THROUGH B (SUMMARIZED AT THE NATIONWIDE LEVEL OF THE INSTITUTION). ALSO, IT WILL CONTAIN AN INSTITUTION REGISTER SUMMARY (IRS) REPORT, WHICH REFLECTS ALL THE DATA REPORTED BY AN INSTITUTION FOR SPECIFIC LOAN/APPLICATION REGISTER (LAR) FIELDS IN A SUMMARY REPORT.

THE INCLUSION OF A TABLE IN THE DISCLOSURE DATA DEPENDS ON YOUR INSTITUTION’S LENDING ACTIVITY. FOR EXAMPLE, IF DURNG 2004 YOU DID NOT PURCHASE ANY MORTGAGE LOANS IN A PARTICULAR MSA/MD, YOUR STATEMENT WILL NOT CONTAIN TABLE 2 FOR THAT MSA/MD. SIMILARLY, IF YOU DID NOT ORIGINATE (OR RECEIVE APPLICATIONS FOR) HOME IMPROVEMENT LOANS, YOUR STATEMENT WILL NOT INCLUDE TABLES 4-4, 5-4, 7-4, OR 8-4; AND IF YOU DID NOT REPORT REASONS FOR DENIALS OF LOAN APPLICATIONS, YOUR STATEMENT WILL NOT INCLUDE TABLES 8-1 THROUGH 8-7.

AGGREGATE TABLES SHOW THE AGGREGATE LENDING ACTVITY FOR ALL FINANCIAL INSTITUTIONS COVERED BY HMDA FOR EACH MSA/MD FOR THE ENTIRE NATION. ONE MSA/MD AGGREGATE TABLE DOCUMENT MAY CONTAIN UP TO 52 TABLES.

THE FOLLOWING IS A LIST OF THE AGGREGATE AND DISCLOSURE TABLES THAT HAVE BEEN PREPARED COVERING THE DATA FOR CALENDAR YEAR 2004. TABLES INCLUDED IN THE AGGREGATE DATA ONLY OR DISCLOSURE DATA ONLY ARE IDENTIFIED.  
 
TABLE NUMBER DESCRIPTION
TABLE i REPORTING INSTITUTIONS WHO HAVE A HOME OR BRANCH OFFICE IN THE MSA/MD (AGGREGATE DATA ONLY)
TABLE 1 DISPOSITION OF LOAN APPLICATIONS, BY LOCATION OF PROPERTY AND TYPE OF LOAN, 2004
TABLE 2 LOANS PURCHASED, BY LOCATION OF PROPERTY AND TYPE OF LOAN, 2004
TABLE 3-1 LOANS SOLD, BY CHARACTERISTICS OF BORROWER AND OF CENSUS TRACT IN WHICH PROPERTY IS LOCATED AND BY TYPE OF PURCHASER (INCLUDES ORIGINATIONS AND PURCHASED LOANS), 2004
TABLE 3-2 PRICING INFORMATION FOR FIRST AND JUNIOR LIEN LOANS SOLD BY TYPE OF PURCHASER (INCLUDES ORIGINATIONS ONLY), 2004
TABLES 4-1 THROUGH 4-7 DISPOSITION OF APPLICATIONS FOR LOANS, BY RACE, ETHNICITY, GENDER AND INCOME OF APPLICANT, 2004 (ONE FOR EACH TYPE OF LOAN: FHA, FSA/RHS, AND VA HOME PURCHASE; CONVENTIONAL HOME PURCHASE; REFINANCING; HOME IMPROVEMENT; MULTIFAMILY; NONOCCUPANT; AND MANUFACTURED HOME DWELLINGS)
TABLES 5-1 THROUGH 5-7 DISPOSITION OF APPLICATIONS FOR LOANS, BY INCOME, RACE AND ETHNICITY OF APPLICANT, 2004 (ONE FOR EACH TYPE OF LOAN)
TABLES 7-1 THROUGH 7-7 DISPOSITION OF APPLICATIONS FOR LOANS, BY CHARACTERISTICS OF CENSUS TRACT IN WHICH PROPERTY IS LOCATED, 2004 (ONE FOR EACH TYPE OF LOAN)
TABLES 8-1 THROUGH 8-7 REASONS FOR DENIAL OF APPLICATIONS, BY RACE, ETHNICITY, GENDER AND INCOME OF APPLICANT, 2004 (ONE FOR EACH TYPE OF LOAN)
TABLE 9 DISPOSITION OF LOAN APPLICATIONS, BY MEDIAN AGE OF HOMES IN CENSUS TRACT IN WHICH PROPERTY IS LOCATED AND TYPE OF LOAN, 2004 (AGGREGATE DATA ONLY)
TABLE 10 DISPOSITION OF LOAN APPLICATIONS, BY PRINCIPAL CITY VERSUS NON-PRINCIPAL CITY PROPERTY LOCATIONS AND TYPE OF LOAN, 2004 (AGGREGATE DATA ONLY)
TABLES 11-1 THROUGH 11-10 PRICING INFORMATION FOR LOANS ON 1- TO 4-FAMILY, OWNER-OCCUPIED, BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2004 (ONE FOR EACH TYPE OF LOAN FOR FIRST LIENS AND JUNIOR LIENS: FHA HOME-PURCHASE; VA HOME-PURCHASE; CONVENTIONAL HOME-PURCHASE; FHA REFINANCINGS; VA REFINANCINGS; CONVENTIONAL REFINANCINGS; AND CONVENTIONAL HOME IMPROVEMENTS)
TABLES 12-1 AND 12-2 DISPOSITION OF APPLICATIONS AND PRICING INFORMATION FOR CONVENTIONAL MANUFACTURED HOME-PURCHASE LOANS, FIRST LIEN, OWNER-OCCUPIED DWELLING, BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2004
SUMMARY TABLE A-1 DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE ON 1- TO 4-FAMILY DWELLINGS (EXCLUDES MANUFACTURED HOMES), 2004
SUMMARY TABLE A-2 DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE ON MANUFACTURED HOMES, 2004
SUMMARY TABLE A-3 DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE ON MULTIFAMILY HOUSING, 2004
SUMMARY TABLE A-4 DISPOSITION OF PREAPPROVALS FOR CONVENTIONAL HOME-PURCHASE LOANS, FIRST LIEN, 1- TO 4-FAMILY DWELLINGS (EXCLUDES MANUFACTURED HOMES), BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2004
SUMMARY TABLE B LOAN PRICING INFORMATION FOR CONVENTIONAL LOANS BY INCIDENCE AND LEVEL, 2004

INSTITUTION LEVEL REPORTS
TABLE NUMBER DESCRIPTION
SUPPLEMENTAL TABLE 1 DISPOSITION OF LOAN APPLICATIONS, BY LOCATION OF PROPERTY AND TYPE OF LOAN, 2004 (FOR PROPERTY NOT LOCATED IN MSA/MDS WHERE INSTITUTION HAS HOME OR BRANCH OFFICES) (DISCLOSURE DATA ONLY)
SUPPLEMENTAL TABLE 2 LOANS PURCHASED, BY LOCATION AND TYPE OF LOAN, 2004 (FOR PROPERTY NOT LOCATED IN MSA/MDS WHERE INSTITUTION HAS HOME OR BRANCH OFFICES) (DISCLOSURE DATA ONLY)
SUMMARY TABLE A-1W DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE, 1- TO 4-FAMILIES (EXCLUDES MANUFACTURED HOMES), 2004 (REFLECTS INSTITUTION’S TOTAL ACTIVITY NATIONWIDE) (DISCLOSURE DATA ONLY)
SUMMARY TABLE A-2W DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE, MANUFACTURED HOME, 2004 (REFLECTS INSTITUTION’S TOTAL ACTIVITY NATIONWIDE) (DISCLOSURE DATA ONLY)
SUMMARY TABLE A-3W DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE, MULTIFAMILY, 2004 (REFLECTS INSTITUTION’S TOTAL ACTIVITY NATIONWIDE) (DISCLOSURE DATA ONLY)
SUMMARY TABLE A-4W DISPOSITION OF PREAPPROVALS FOR CONVENTIONAL HOME-PURCHASE LOANS, FIRST LIEN, 1- TO 4-FAMILY DWELLINGS (EXCLUDES MANUFACTURED HOMES), BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2004 (REFLECTS INSTITUTION’S TOTAL ACTIVITY NATIONWIDE) (DISCLOSURE DATA ONLY)
SUMMARY TABLE BW LOAN PRICING INFORMATION FOR CONVENTIONAL LOANS BY INCIDENCE AND LEVEL, 2004 (REFLECTS INSTITUTION’S TOTAL ACTIVITY NATIONWIDE) (DISCLOSURE DATA ONLY)
IRS REPORT INSTITUTION REGISTER SUMMARY REPORT (INCLUDES ALL DATA) (DISCLOSURE DATA ONLY)