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CFPB Offers an HMDA Primer with Updated Data
Thursday, September 25, 2014 6:45 AM

Last year, the Consumer Financial Protection Bureau released a web-based tool that provides the public with easier access to mortgage data for 2007 through 2012, and now they have added the 2013 information to the database, in coordination with the Federal Financial Institutions Examination Council.

The Home Mortgage Disclosure Act, or HMDA, requires many financial institutions to maintain, report, and publicly disclose information about mortgages. HMDA data for 2013 included approximately 17 million records from 7,190 financial institutions.

If your credit union staff is new to HMDA data, they can get a head start on what it's all about with CFPB's introductory video. They'll learn about the data, how it's collected, why it's useful, and what variables it contains.