HMDA Resource Page
A number of excellent resources are available that offer background, statistics, helpful hints and other details about HMDA, mortgage lending, credit scores and more. They are arranged by category below:
Understanding the Home Mortgage Disclosure Act (HMDA)
Federal Reserve Board analysis (PDF) of 2004 HMDA data - Summer 2005 report titled "New Information Reported under HMDA and Its Application in Fair Lending Enforcement," by Robert B. Avery, Glenn B. Canner, and Robert E. Cook.
Office of the Comptroller of the Currency "Community Developments" Newsletter - "HMDA: Love It or Hate It, This Could Be an Opportune Time for Lenders and Community Advocates," article by Anne Diedrick, senior vice president, JP Morgan Chase Community Development Group, Summer 2005.
Consumer Bankers Association's Fair Lending Site - Background information, rulings, and commentaries on fair lending and the Home Mortgage Disclosure Act
Consumer Bankers Association HMDA Information Page - Q&A, important links, news, and press releases from the CBA, which provides leadership, education, research and federal representation on retail banking issues
Federal Oversight Council's HMDA Information - The website of the Federal Financial Institutions Examination Council contains background on the history of HMDA, filing information, and access to public data. A supplement to this site is offered by the Federal Reserve Bank of St. Louis
Federal Reserve Board HMDA FAQ - The federal bank, credit union, and thrift supervisory agencies, along with the Department of Housing and Urban Development (HUD), issued a set of FAQs on April 3, 2006, to address the home loan price data disclosed for 2005 under the Home Mortgage Disclosure Act (HMDA)
HMDA booklet (PDF) from the American Bankers Association - Overview that includes history of HMDA, key dates and terms related to the Home Mortgage Disclosure Act, housing price trends, a fact sheet and other information
Congressional testimony (PDF) regarding privacy concerns related to HMDA - Written testimony by Anthony M. Yezer, Professor of Economics, George Washington University, delivered March 30, 2004
Presentations from HMDA Seminar - Various industry and academic experts explore the history, evolution, and limitations of HMDA in a seminar held on March 14, 2005
"Introduction to Enhanced HMDA Data (PDF)" - Michael Staten, Director, Credit Research Center, Georgetown University
Panel discussion on what HMDA data will - and will not (PDF) - make known - Led by Michael Staten, Director, Credit Research Center, Georgetown University
"The Home Mortgage Disclosure Act: History, Evolution and Limitations (PDF)" - Joseph M. Kolar, Buckley Kolar LLP
"Where Do Mortgage Prices Come From? A Primer (PDF)" - Richard K. Green, Oliver T. Carr, Jr. Chair in Real Estate and Finance, The George Washington University
"Understanding Underwriting Factors (PDF)" - Marsha J Courchane, Principal, ERS Group
"Pricing of Subprime Mortgages: An Empirical and Conceptual Overview (PDF)" - Paul S. Calem, Ph.D., Vice President, Product Research, LoanPerformance
Understanding Credit Scores (Also known as FICO Scores)
Federal Reserve Bank of San Francisco's Information on Consumer Credit - Online access to the publication "Your Credit Report: What It Says About You."
Identity Theft Resources from the Federal Trade Commission - Consumer forms and helpful information related to the Fair and Accurate Credit Transactions (FACT) Act, which requires the Federal Trade Commission, in consultation with the federal banking agencies and the National Credit Union Administration, to assist consumers when informing creditors and consumer reporting agencies that they are identity theft victims.
Federal Trade Commission information about how consumers can access free annual credit reports.
Federal Citizen Information Center's Credit Overview - The website's "Credit" section provides information on a half-dozen resources, including "Building a Better Credit Record," "Credit Matters" and "Your Credit Scores."
"Understanding Your Credit Score (PDF)" online booklet - Provided by Fair Isaac Corp., "Understanding Your Credit Score" is a booklet that provides a thorough description of credit scoring, including ways credit scoring can help you, the relationship between your credit report and your credit score, what a FICO score considers, and interpreting your score.
Article on Credit Report Accuracy (PDF) - "Credit Report Accuracy and Access to Credit" by Glenn Canner, Robert B. Avery, and Paul S. Calem, Federal Reserve Board Division of Research and Statistics, which appeared in the Federal Reserve Bulletin, Vol. 89 (February 2003).
Understanding the Home Loan Process
U.S. Financial Literacy and Education Commission's MyMoney.gov website - The website's "Home Ownership" section offers extensive tips on looking for the best mortgage, as well as background on related topics, such as private mortgage insurance and home equity loans
The Consumer Federation of America's website - The "Mortgages" section includes press releases, studies, and testimony and comments that contain important consumer information about home lending, including pieces on the 2004 Home Mortgage Disclosure Act data
Federal Reserve Board Mortgages Overview - Extensive background on such topics as "Consumer Handbook on Adjustable-Rate Mortgages," "Looking for the Best Mortgage: Shop, Compare, Negotiate" and "Home Mortgages: Understanding the Process and Your Right to Fair Lending."
Federal Citizen Information Center's Housing Overview - The website's "Financing & Sales" section contains information on a number of resources, including "100 Questions and Answers About Buying a New Home," "Borrower's Guide to Home Loans" and "How to Buy a Home with a Low Down Payment."
Consumer website of the Mortgage Bankers Association - The "Home Loan Learning Center" provides comprehensive information to help consumers understand all aspects of home buying and home ownership. The website covers topics that include owning versus renting, how much house you can afford and how common life situations can impact your mortgage loan decisions.