Products
Free Stuff
Site Map
|
|
|
|
|
Home mortgage basics
 Home MortgageHome Equity LoansMortgage ApprovalMortgage BanksLine Of CreditDebt Consolidation LoansMortgage BrokerMortgage Types
Mortgage Loan TypesHome Mortgage InterestFHA LoansHome Improvement LoansNo Doc Home LoansNo Down Payment LoansJumbo MortgageReverse Home MortgageBalloon MortgageVariable Home MortgageSecond MortgageHome mortgage info
Home Mortgage CalculatorBad Credit MortgageOnline MortgageBest Home LoansRefinance Home MortgageHome Mortgage LendersOnline VA Home LoanConforming Mortgage LoansInterest Only Home MortgageMobile Home MortgageMortgage FraudPay Day LoansFree Newsletter
Stay updated, sign up for our free newsletter to receive useful tips Full NameEmail Id 
|
 |
Mortgage Disclosure The United States Congress passed the Home Mortgage Disclosure Act in 1975. The legislation requires financial institutions such as banks and other lending agencies to disclose, on an annual basis, data about the home purchases they have processed. This data may include information relative to home purchase pre-approvals, loans taken out for the purpose of home improvement, and applications for refinance involving multi-family dwellings and those with from one to four units. Both branch offices and loan centers are required under the legislation to display an appropriate HMDA poster. In designing the legislation, the Federal Reserve Board intended to help public officials to distribute investments in the public-sector with enhanced information access as well as to provide a means to discover if financial institutions in their activities are actually serving the housing needs of a given community. Finally, HMDA serves to identify and thus to regulate unfair and discriminatory lending practices. In designing the legislation, the Federal Reserve Board intended to help public officials to distribute investments in the public-sector with enhanced information access as well as to provide a means to discover if financial institutions in their activities are actually serving the housing needs of a given community. Finally, HMDA serves to identify and thus to regulate unfair and discriminatory lending practices. More terms explained |
|
Suggest an Article Haven´t found the article you are looking for, please suggest your article. We value all your suggestions and comments.  |
Home |  |  |  | Privacy Policy | Disclaimer | Copyrights | Contact Us |