To All Depository Institutions and Others
Concerned in the Second Federal Reserve District:

The Federal Financial Institutions Examination Council has announced the availability of data for 2004 on mortgage lending transactions at 8,853 financial institutions covered by the Home Mortgage Disclosure Act (HMDA) in metropolitan statistical areas nationwide.

The HMDA data include disclosure statements for each financial institution, aggregate data for each metropolitan statistical area, nationwide summary statistics regarding lending patterns and the Loan Application Register submitted by each institution to its supervisory agency on March 1, 2005, modified for borrower privacy.

The data reflect new information collected for the first time in 2004, including information relating to loan pricing, whether a loan or application relates to manufactured housing, and whether a loan is secured by a first or subordinate lien, or is unsecured. The pricing data are intended to advance enforcement of consumer protection and anti-discrimination laws and to improve mortgage market efficiency.

In addition, the new data reflect changes in other data items, including revisions to the classification of applicants and borrowers by ethnicity and race.

Press release
FAQ on new HMDA data
March 2005 press release
June 2002 press release on changes to Regulation C
Federal Register notice

John Gary Ricketti
Vice President
Risk Management
john.ricketti@ny.frb.org

Media contact:
Susan Stawick
Board of Governors of the Federal Reserve System
Public Affairs Office
(202) 452-2955

Contact:
Public Affairs
(212) 720-6130
general.info@ny.frb.org