The Consumer Financial Protection Bureau (CFPB) has issued a new Home Mortgage Disclosure Act (HMDA) analysis.
The data are used to assist in determining whether financial institutions are serving the housing needs of their local communities and help identify possible discriminatory lending patterns.
Institutions covered by HMDA are required to annually collect and report specified information about each mortgage application purchased during the prior calendar year. Read on for more details from the CFPB.
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