Modified loan/application registers (LARs) for each institution that filed Home Mortgage Disclosure Act (HMDA) data collected last year are now available, the umbrella group for federal financial institution regulators said Monday.
The Federal Financial Institutions Examination Council (FFIEC) said the modified LARs for 2019 data provide each institution’s loan-level HMDA data. The modifications, the agency said, protect applicant and borrower privacy in line with the Consumer Financial Protection Bureau’s (CFPB) final guidance on disclosure of the HMDA data.
The LARs are used to assist in providing public information outlining whether financial institutions are serving the housing credit needs of the communities in which the institutions are located. The also help in targeting public investments from the private sector to areas where the investments are needed, and provide borrower characteristics to help identify possible discriminatory lending patterns in order to enforce antidiscrimination statutes.