Residence Mortgage Disclosure Act (HMDA)
Key takeaways Handed in 1975, the Residence Mortgage Disclosure Act (HMDA) requires monetary lenders to reveal particular particulars concerning their residential mortgage loans. Particularly, lenders should report sure applicant data, like gender and race, together with collateral particulars, mortgage data, mortgage standing and different particulars. Enforced by the Shopper Monetary Safety Bureau (CFPB), the HMDA…