Home Mortgage Disclosure Act (HMDA)

The Home Mortgage Disclosure Act (HMDA) is a law that requires certain lenders to collect and report data about their mortgage lending activities. This data includes information about applicants’ demographics, the types of loans they request, and the outcomes. The purpose is to ensure lenders are providing fair access to housing opportunities and to detect any discrimination or unfair practices in the mortgage industry. HMDA helps regulators and the public understand lending trends, supporting efforts to promote fair, transparent, and equitable lending practices.