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Public Comment Period Opens on Changes to HMDA Public Disclosure Tables

WASHINGTON - Anyone interested in commenting on the Federal Reserve Board's proposed changes to the public disclosure tables that are used to report data collected by lenders under the Home Mortgage Disclosure Act, has until May 10 to do so. The Fed put the proposal out for comment on Thursday,...

By Staff Writer | Updated on March 30, 2004

WASHINGTON – Anyone interested in commenting on the Federal Reserve Board’s proposed changes to the public disclosure tables that are used to report data collected by lenders under the Home Mortgage Disclosure Act, has until May 10 to do so. The Fed put the proposal out for comment on Thursday, March 18. It would revise some of the existing disclosure tables, delete one set of existing tables, and add new ones. The proposed revisions to the existing tables are primarily to reflect the itemization of data on manufactured housing and changes to the race and ethnicity categories adopted categories adopted by the Fed to conform to standards established by the Office of Management and Budget. The first year the new data will be reported is 2004. Data from institutions must be submitted to the federal financial regulatory agencies no later than March 1, 2005, and the data will be reflected in the public disclosures scheduled to be released in the summer 2005. Recent revisions to Reg C require lending institutions to report new data: loan pricing information; whether the loan is subject to the Home Ownership and Equity protection Act (HOEPA); whether manufactured housing is involved; and whether the loan is subject to a first or subordinate lien on the property, as well as whether certain information about requests for preapproval. These items would be reflected on the proposed new tables.

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