Which regulation governs HMDA?

Which regulation governs HMDA?

• A. Reg C
• B. Reg V
• C. Reg B
• D. Reg Z

Answer: (A)

Regulation C is the regulation that implements the Home Mortgage Disclosure Act, which requires lenders to collect and report data on mortgage applications, originations, and purchases. This data helps regulators and the public assess whether lenders are meeting the housing needs of their communities and whether there are patterns of discrimination or redlining. The information gathered typically includes loan type, location, outcome, and certain borrower demographics to enable analysis of access to credit. For context, the other regulations cover different laws: Regulation B implements the Equal Credit Opportunity Act, prohibiting discrimination in lending; Regulation Z implements the Truth in Lending Act, requiring disclosures about loan terms and costs; Regulation V governs the Fair Credit Reporting Act, relating to consumer credit reports.

Regulation C is the regulation that implements the Home Mortgage Disclosure Act, which requires lenders to collect and report data on mortgage applications, originations, and purchases. This data helps regulators and the public assess whether lenders are meeting the housing needs of their communities and whether there are patterns of discrimination or redlining. The information gathered typically includes loan type, location, outcome, and certain borrower demographics to enable analysis of access to credit.

For context, the other regulations cover different laws: Regulation B implements the Equal Credit Opportunity Act, prohibiting discrimination in lending; Regulation Z implements the Truth in Lending Act, requiring disclosures about loan terms and costs; Regulation V governs the Fair Credit Reporting Act, relating to consumer credit reports.