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REGULATORY DISCLOSURE REQUIREMENTS


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

HOME MORTGAGE DISCLOSURE ACT NATIONAL AGGREGATE INFORMATION SHEET

THE HOME MORTGAGE DISCLOSURE ACT (HMDA) NATIONAL AGGREGATE REPORTS ARE PREPARED ANNUALLY BY THE FFIEC ON BEHALF OF INSTITUTIONS REPORTING HMDA DATA. THEY ARE FACSIMILE REPORTS OF HMDA DATA IN TABLE FORMAT. DEPENDING ON THE REPORTED DATA, THERE CAN BE UP TO 49 TABLES, SHOWING THE NUMBER AND DOLLAR AMOUNT OF LENDING, CROSS-TABULATED BY LOAN, APPLICANT, AND GEOGRAPHIC CHARACTERISTICS. INDIVIDUAL INSTITUTIONS’ DATA CANNOT BE IDENTIFIED IN THE NATIONAL AGGREGATE REPORTS. THE HMDA NATIONAL AGGREGATE REPORTS ARE AVAILABLE ON THE WEB ONLY.

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 NATIONAL AGGREGATE TABLES HAVE BEEN REVISED, AND NEW TABLES HAVE BEEN ADDED.

THE PRINCIPAL CHANGES TO THE TABLE FORMATS ARE AS FOLLOW. 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. 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. THE NEW SUMMARY TABLE B SHOWS DATA ON LOAN PRICING.

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.

CONTENT OF 2004 NATIONAL AGGREGATE REPORT TABLES

THE FOLLOWING IS A LIST OF THE NATIONAL AGGREGATE TABLES THAT HAVE BEEN PREPARED COVERING THE DATA FOR CALENDAR YEAR 2004.
 
TABLE NUMBER DESCRIPTION
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
TABLE 10 DISPOSITION OF LOAN APPLICATIONS, BY PRINCIPAL CITY VERSUS NON-PRINCIPAL CITY PROPERTY LOCATION AND TYPE OF LOAN, 2004
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: FHA HOME-PURCHASE, FIRST LIENS; VA HOME-PURCHASE, FIRST LIENS; CONVENTIONAL HOME-PURCHASE, FIRST AND JUNIOR LIENS; FHA REFINANCINGS, FIRST LIENS; VA REFINANCINGS, FIRST LIENS; CONVENTIONAL REFINANCINGS, FIRST AND JUNIOR LIENS; AND CONVENTIONAL HOME IMPROVEMENTS, FIRST AND JUNIOR LIENS)
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, 1- TO 4-FAMILIES (EXCLUDES MANUFACTURED HOMES), 2004
SUMMARY TABLE A-2 DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE, MANUFACTURED HOME, 2004
SUMMARY TABLE A-3 DISPOSITION OF APPLICATIONS AND LOAN SALES BY LOAN TYPE, MULTIFAMILY, 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