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 STATISTICAL AREA (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. CD-ROM USERS 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 1990 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.

CHANGES FOR 1998 DATA

REORGANIZATION WITHIN THE DEPARTMENT OF AGRICULTURE HAS RESULTED IN THE FUNCTIONS OF THE FARMERS HOME ADMINISTRATION (FMHA) BEING REASSIGNED TO TWO NEW UNITS, THE FARM SERVICE AGENCY (FSA) AND THE RURAL HOUSING SERVICE (RHS). THEREFORE, THE DATA ON GOVERNMENT INSURED OR GUARANTEED LOANS NOW INCLUDE FSA AND RHS LOANS, RATHER THAN FMHA LOANS. THIS CHANGE IS REFLECTED IN THE HEADING OF COLUMN A IN TABLES 1, 2, 9, AND 10, AND IN THE TITLES OF TABLES 4-1, 5-1, 6-1, 7-1 AND 8-1.

SIMILARLY, THE DATA ON TYPE OF PURCHASER, FOR LOANS SOLD BY THE REPORTING INSTITUTION, NOW INCLUDE DATA ON LOANS PURCHASED BY THE FEDERAL AGRICULTURAL MORTGAGE CORPORATION (FAMC), RATHER THAN BY THE FMHA. THIS CHANGE AFFECTS THE FOURTH DATA COLUMN IN TABLE 3.

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. ANY QUESTIONS OR COMMENTS ABOUT THE HMDA DATA MAY BE DIRECTED IN WRITING TO THE EXECUTIVE SECRETARY, FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL, 2000 K ST, NW, SUITE 310, WASHINGTON, DC 20006.

CONTENT OF 1998 DISCLOSURES

THE FOLLOWING IS A LIST OF THE TABLES THAT HAVE BEEN PREPARED COVERING THE DATA FOR CALENDAR YEAR 1998:
 
 

TABLE NUMBER	DESCRIPTION
TABLE 1	DISPOSITION OF LOAN APPLICATIONS, BY LOCATION OF PROPERTY AND TYPE OF LOAN, 1998
TABLE 2	LOANS PURCHASED, BY LOCATION OF PROPERTY AND TYPE OF LOAN, 1998
TABLE 3	LOANS SOLD, BY CHARACTERISTICS OF BORROWER AND OF CENSUS TRACT IN WHICH PROPERTY IS LOCATED AND BY TYPE OF PURCHASER, 1998
TABLES 4-1 THROUGH 4-6	DISPOSITION OF APPLICATIONS FOR LOANS, BY RACE, GENDER AND INCOME OF APPLICANT, 1998 (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, 1998 (ONE FOR EACH LOAN TYPE)
TABLES 6-1 THROUGH 6-6	DISPOSITION OF APPLICATIONS FOR LOANS, BY INCOME AND GENDER OF APPLICANT, 1998 (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, 1998 (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, 1998  (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, 1998 (AGGREGATE DATA ONLY)
TABLE 10	DISPOSITION OF LOAN APPLICATIONS, BY CENTRAL CITY VERSUS NON-CENTRAL CITY PROPERTY LOCATION AND TYPE  OF LOAN, 1998 (AGGREGATE DATA ONLY)