HMDA Studies
HMDA needs very loan providers who originate funds into the metropolitan areas to submit information about new applicant (eg, earnings and battle) as well as on the fresh new census area precise location of the assets. The financial institution isn’t needed to review of perhaps the applicant tries home financing to own a made domestic otherwise whether the app is subprime. dos
Boffins and policymakers purchased HMDA data to examine of numerous financial financing concerns. A few of these studies have looked after area redlining and chronic difference ranging from fraction and you will white getting rejected prices. Others purchased HMDA investigation to review the fresh affordable credit choices regarding portfolio lenders and you will Bodies-backed businesses (Federal national mortgage association and Freddie Mac computer).
