HMDA: Home Mortgage Disclosure Act
The Home Mortgage Disclosure Act (HMDA) provides the public with loan data that can be used to assess how financial institutions are serving the housing needs of their communities.
HMDA regulations require mortgage lenders to report specific information about commercial loan applications received for residential structures, such as apartment buildings, condominium and cooperative units, and manufactured and mobile homes.
The data includes information about the property, such as its location, the type of business applying for the loan, the purpose of the loan and whether the lien is a first or junior lien. The HMDA data also includes certain specific identifiers when the business loan applicant is an individual rather than a company.
Lenders report data annually to regulators in the beginning of March for loans and applications from the prior calendar year. Lenders must make data available to requesting parties within 30 days of any request but no earlier than March 31.
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See HMDA frequently asked questions to learn more.