What is HMDA?

HMDA is the Home Mortgage Disclosure Act, and is implemented by Regulation C.

HMDA requires financial institutions, including credit unions, to compile and disclose data about home purchase loans, home improvement loans, and refinancings that they originate or purchase, or for which they receive applications.

The purpose of Regulation C is to provide the public with data that can be used to:

• Help determine whether credit unions are serving the housing needs of their communities;

• Assist public officials in distributing public-sector investments so as to attract private investment to areas where it is needed; and

• Assist in identifying possible discriminatory lending patterns and enforcing compliance with anti-discrimination statutes.