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REGULATORY DISCLOSURE REQUIREMENTS


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

HOME MORTGAGE DISCLOSURE ACT INFORMATION SHEET FOR “SPECIAL” NATIONAL AGGREGATE REPORTS CONSOLIDATED PDF FILE

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.  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.

ON JULY 14, 2008, THE FEDERAL RESERVE BOARD ANNOUNCED AMENDMENTS TO REGULATION C THAT REVISED THE RULES FOR REPORTING PRICE INFORMATION ON HIGHER-PRICED LOANS.  FOR LOAN APPLICATIONS TAKEN PRIOR TO OCTOBER 1, 2009, HMDA REQUIRED LENDERS TO COMPARE THE ANNUAL PERCENTAGE RATE (APR) ON THE LOAN TO THE YIELD ON A TREASURY SECURITY WITH A COMPARABLE TERM TO MATURITY TO DETERMINE WHETHER A LOAN WAS REQUIRED TO BE REPORTED AS HIGHER-PRICED.  IF THE DIFFERENCE EXCEEDED 3 PERCENTAGE POINTS FOR A FIRST-LIEN LOAN OR 5 PERCENTAGE POINTS FOR A JUNIOR-LIEN LOAN IT WAS CLASSIFIED AS HIGHER-PRICED AND THE RATE SPREAD WAS REPORTED.

 

 

UNDER THE AMENDED RULE, LENDERS INSTEAD COMPARE THE APR ON THE LOAN TO A SURVEY-BASED ESTIMATE OF APRs CURRENTLY OFFERED ON PRIME MORTGAGE LOANS OF A COMPARABLE TYPE.  LENDERS THEN REPORT THE SPREAD IF THE SPREAD IS EQUAL TO OR GREATER THAN 1.5 PERCENTAGE POINTS FOR A FIRST-LIEN LOAN OR 3.5 PERCENTAGE POINTS FOR A SUBORDINATE-LIEN LOAN.  THE REVISED REPORTING METHODOLOGY APPLIES TO LOAN APPLICATIONS TAKEN ON OR AFTER OCTOBER 1, 2009 AND FOR LOANS THAT CLOSE ON OR AFTER JANUARY 1, 2010, REGARDLESS OF THEIR APPLICATION DATES.

 

 

THE CHANGES TO THE NATIONAL AGGREGATE REPORTS ONLY AFFECT TABLES THAT CONTAIN LOAN PRICING INFORMATION (TABLES 3-2, 11-1 THROUGH 11-10, 12-2, AND TABLE B).  THE “STANDARD” NATIONAL AGGREGATE REPORTS LOAN PRICING TABLES ONLY INCLUDE LOANS WITH APPLICATION DATES PRIOR TO OCTOBER 1, 2009.  TO PROVIDE INFORMATION ON LOANS THAT WERE EXCLUDED FROM THE “STANDARD” NATIONAL AGGREGATE REPORTS, A “SPECIAL” NATIONAL AGGREGATE REPORT WAS CREATED (WWW.FFIEC.GOV/HMDA/NATLAGGR2009.HTM).  THE “SPECIAL” NATIONAL AGGREGATE REPORT IS A CONSOLIDATED PDF FILE THAT INCLUDES ONLY TABLES WITH LOAN PRICING INFORMATION, AND THESE TABLES ARE LIMITED TO APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009.  THE ONLY EXCEPTION ON BOTH NATIONAL AGGREGATE REPORTS IS THAT DATA PERTAINING TO THE NUMBER OR DOLLAR AMOUNT OF HOEPA LOANS INCLUDE ALL LOANS IN 2009 REGARDLESS OF THE DATE OF APPLICATION.  INFORMATION ON WHICH APPLICATIONS ARE COVERED IN EACH TABLE IS INCLUDED IN THE TITLE OF THE TABLE.

 

 

ANOTHER CHANGE THAT AFFECTS THE NATIONAL AGGREGATE REPORTS IS THE PARAMETERS OF THE COLUMNS THAT SHOW THE NUMBER AND DOLLAR AMOUNTS OF HIGHER-PRICED LOANS BY SPREAD AMOUNT.  FOR APPLICATIONS TAKEN ON OR AFTER OCTOBER 1, 2009, NEW SPREAD RANGES ARE USED PROVIDING NARROWER RANGES FOR LOANS PRICED CLOSER TO THE REPORTING THRESHOLDS.

CONTENT OF 2009 "SPECIAL" NATIONAL AGGREGATE CONSOLIDATED PDF FILE TABLES

THE FOLLOWING IS A LIST OF THE “SPECIAL” NATIONAL AGGREGATE TABLES WITH LOAN PRICING INFORMATION THAT HAVE BEEN PREPARED AND INCLUDED IN THE  CONSOLIDATED PDF FILE FOR CALENDAR YEAR 2009.  

 
TABLE NUMBER DESCRIPTION
TABLE 3-2 PRICING INFORMATION FOR FIRST AND JUNIOR LIEN LOANS SOLD BY TYPE OF PURCHASER (INCLUDES ORIGINATIONS ONLY), 2009 (ONLY INCLUDES LOANS WITH APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009 WITH THE EXCEPTION THAT THE HOEPA LOANS ROW REFLECTS ACTIVITY FOR THE FULL YEAR)
TABLES 11-1 THROUGH 11-3 PRICING INFORMATION FOR LOANS ON 1- TO 4-FAMILY, OWNER-OCCUPIED (EXCLUDES MANUFACTURED HOMES), BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2009 (ONE FOR EACH TYPE OF LOAN FOR FIRST LIENS: FHA HOME-PURCHASE; VA HOME-PURCHASE; AND CONVENTIONAL HOME-PURCHASE) (ONLY INCLUDES LOANS WITH APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009)
TABLES 11-4 PRICING INFORMATION FOR CONVENTIONAL HOME-PURCHASE LOANS, JUNIOR LIEN, 1- TO 4-FAMILY OWNER-OCCUPIED DWELLING (EXCLUDES MANUFACTURED HOMES), BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2009 (ONLY INCLUDES LOANS WITH APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009)
TABLES 11-5 THROUGH 11-7 AND TABLE 11-9 PRICING INFORMATION FOR LOANS ON 1- TO 4-FAMILY, OWNER-OCCUPIED (EXCLUDES MANUFACTURED HOMES), BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2009 (ONE FOR EACH TYPE OF LOAN FOR FIRST LIENS: FHA REFINANCINGS; VA REFINANCINGS; CONVENTIONAL REFINANCINGS; AND CONVENTIONAL HOME IMPROVEMENTS) (ONLY INCLUDES LOANS WITH APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009 WITH THE EXCEPTION THAT THE HOEPA LOANS COLUMN REFLECTS ACTIVITY FOR THE FULL YEAR)
TABLES 11-8 AND 11-10 PRICING INFORMATION FOR LOANS ON 1- TO 4-FAMILY, OWNER-OCCUPIED (EXCLUDES MANUFACTURED HOMES), BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2009 (ONE FOR EACH TYPE OF LOAN FOR JUNIOR LIENS: CONVENTIONAL REFINANCINGS; AND CONVENTIONAL HOME IMPROVEMENTS (ONLY INCLUDES LOANS WITH APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009 WITH THE EXCEPTION THAT THE HOEPA LOANS COLUMN REFLECTS ACTIVITY FOR THE FULL YEAR)
TABLE 12-2 PRICING INFORMATION FOR CONVENTIONAL MANUFACTURED HOME-PURCHASE LOANS, FIRST LIEN, OWNER-OCCUPIED DWELLING, BY BORROWER OR CENSUS TRACT CHARACTERISTICS, 2009 (ONLY INCLUDES LOANS WITH APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009)
SUMMARY TABLE B LOAN PRICING INFORMATION FOR CONVENTIONAL LOANS BY INCIDENCE AND LEVEL, 2009 (ONLY INCLUDES LOANS WITH APPLICATION DATES BETWEEN OCTOBER 1, 2009 AND DECEMBER 31, 2009 WITH THE EXCEPTION THAT THE HOEPA STATUS SECTION REFLECTS ACTIVITY FOR THE FULL YEAR)