Definitions for "HMDA"
Home Mortgage Disclosure Act. A regulation that requires financial institutions and mortgage companies to collect data on applicants for residential dwelling related credits.
Home Mortgage Disclosure Act. The Home Mortgage Disclosure Act (HMDA) requires certain lending institutions to report annually on their originations and purchases of home purchase and home improvement loans as well as applications for such loans. The type of loan, location of the property, race or national origin, sex and income of the applicant or borrower is reported. Institutions are required to make information regarding their lending available to the public and must post a notice of availability in their public lobby. Disclosure statements are also available at central depositories in metropolitan areas. This information can help the public determine how well institutions are serving the housing credit needs of their neighborhoods and communities.
HOME MORTGAGE DISCLOSURE ACT. This act requires mortgage companies to report selected information to the Federal government about each application received. HUD (US Department of Housing and Urban Development) uses HMDA to detect discrimination and identify trends in lending patterns.
Keywords:  hokeys
Hokeys