Today, the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Registers (LARs) data were published for approximately 5,400 financial institutions. This is the first year in which additional data reported by certain institutions under the 2015 HMDA rule will be available. The Modified LARs contains loan level information for 2018 on individual HMDA filers, modified to protect privacy. For guidance as to how submitted data is modified to protect privacy, please seehttps://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-announces-policy-guidance-disclosure-home-mortgage-data/.
Later this year, additional information will be published related to HMDA, including: a complete loan level dataset and HMDA aggregate and disclosure reports. These data products will be accompanied by a Data Point article highlighting key trends. The information to be released this year will include certain new data points, which can provide more insights into the mortgage lending practices of institutions. The CFPB anticipates applying particular rigor and analysis to address data anomalies, including in the new data points and describing the context in which the data may be best understood.
The HMDA statute requires that the Modified LARs be available by March 31st. The 2015 HMDA rule eliminated the need for individual financial institutions to make their Modified LARs available to members of the public who may request them. This is the second year that all Modified LARs have been publicly available on ffiec.cfpb.gov. The 2018 HMDA Modified LARs are available here: https://ffiec.cfpb.gov/data-publication/modified-lar.
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.