HMDA data

HMDA (Home Mortgage Disclosure Act) data is information collected by lenders when people apply for loans to buy or improve a home. It helps regulators and the public see patterns in mortgage lending, such as who is applying, approval rates, loan types, and geographic distribution. This data promotes transparency and fair lending practices by identifying potential disparities or biases based on factors like race, ethnicity, or location. In essence, HMDA data provides insights into the mortgage market, ensuring lenders serve all communities fairly and responsibly.