Two New Reports on Home Mortgage Disclosure Act

Posted by on August 05, 2010

[posted to Community Development Banking listserv]

I am happy to announce the availability of two new HMDA resources.

The first is an article entitled Looking Back and Looking Ahead as the Home Mortgage Disclosure Act Turns Thirty-Five:  The Role of Public Disclosure in a Time of Financial Crisis.  The article describes the purpose and history of the Home Mortgage Disclosure Act and examines proposals to expand HMDA to make it a more effective tool for identifying and deterring predatory lending.  The article is available either on SSRN network at http://www.ssrn.com/author=301002.  If you don’t have access to SSRN, you can get a copy of the article by visiting the website of the Economic Justice Project, http://www.nyls.edu/ejp.

The second resource is an interactive website called HMDAnalysis, designed to assist users to analyze data that lenders make public pursuant to the Home Mortgage Disclosure Act.  You can use HMDAnalys to generate five reports about the home mortgage lending record of lenders in your community, including loan application rate, loan origination rate, loan denial rate ratio, subprime loan percentage, and subprime loan origination ratio.  You can visit HMDAnalysis at http://hmdanalysis.nyls.edu.

I hope you find these useful.

Rick Marsico
New York Law School