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HMDA Data Enhancements

Enacted by Congress in 1975, the Home Mortgage Disclosure Act (HMDA) requires banks, savings and loan associations and other financial institutions to publicly report detailed data on their home lending activity. Over the years, community organizations and concerned citizens have used HMDA data as a tool to determine which banks are lending in their community. We now need more information on loan terms and conditions to determine if financial institutions are making safe and sound loans in communities.

NCRC is pleased that Congress enhanced HMDA data as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. We will continue advocating for speedy implementation of these requirements by the Federal Reserve Board and Bureau of Consumer Financial Protection. The new requirements are:

  • Price information on all HMDA loans expressed as APR or price spread; not limiting this price information to high cost loans
  • Credit score information
  • Points and fees
  • Property value
  • Type of loan (adjustable-rate mortgages or fixed-rate)
  • Type of loan (fully amortizing or negative amortization)
  • A database on foreclosures and delinquencies
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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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