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Federal Reserve Bank
of

Dallas

ROBERT D. McTEER, JR.
DALLAS, TEXAS

P R E S ID E N T

75265-5906

A N D C H I E F E X E C U T IV E O F F I C E R

March 24, 1998
Notice 98-26
TO:

The Chief Executive Officer of each
financial institution and others concerned
in the Eleventh Federal Reserve District

SUBJECT
Proposed Amendments to Regulation C
(Home Mortgage Disclosure)
DETAILS
The Board of Governors of the Federal Reserve System is requesting public comment
on proposed amendments to Regulation C (Home Mortgage Disclosure). The proposed
amendments would (1) modify the Loan Application Register to prepare for Year 2000 data
systems conversions; (2) delete the requirement to enter the reporting institution’s parent
company on the Transmittal Sheet; and (3) make certain other technical changes to the regulation
and reporting forms.
The Board must receive comments by April 27, 1998. Please address comments to
William W. Wiles, Secretary, Board of Governors of the Federal Reserve System, 20th Street
and Constitution Avenue, N.W., Washington, DC 20551. All comments should refer to Docket
No. R-0999.
ATTACHMENTS
A copy of the Board’s notice as it appears on pages 9453-59, Vol. 63, No. 37 of the
Federal Register dated February 25, 1998, is attached.
MORE INFORMATION
For more information, please contact Eugene Coy at (214) 922-6201. For additional
copies of this Bank’s notice, please contact the Public Affairs Department at (214) 922-5254.
Sincerely yours,

For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal
Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012;
Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

Federal Register/Vol. 63, No. 3 7 /W ednesday, February 25, 1998/Proposed Rules
Disclosure). The proposed am endments:
m odify the Loan A pplication Register to
prepare for “year 2000” data systems
conversion; delete the requirem ent to
enter the reporting in stitu tio n ’s parent
com pany on the Transm ittal Sheet; and
make certain other technical changes to
the regulation and reporting forms.
DATES: Comments m ust be received on
or before A pril 27, 1998.
ADDRESSES: Comments should refer to
Docket No. R-0999, and may be m ailed
to W illiam W. Wiles, Secretary, Board of
Governors of the Federal Reserve
System, 20th Street and Constitution
Avenue, N.W., W ashington, D.C. 20551.
Comments also may be delivered to
Room B—
2222 of the Eccles Building
betw een 8:45 a.m. and 5:15 p.m.
weekdays, or to the guard station in the
Eccles Building courtyard on 20th
Street, N.W. (between Constitution
Avenue and C Street) at any time.
Comments received w ill be available for
inspection in Room M P-500 of the
M artin Building betw een 9:00 a.m. and
5:00 p.m. weekdays, except as provided
in 12 CFR 261.8 of the Board’s rules
regarding availability of information.
FOR FURTHER INFORMATION CONTACT:

FEDERAL RESERVE SYSTEM
12CFR Part 203
[Regulation C; Docket No. R -0 99 9 ]

Home Mortgage Disclosure

Board of Governors of the
Federal Reserve System.
ACTION: Proposed rule.
AGENCY:

SUMMARY: The Board is publishing for
public comment proposed amendments
to Regulation C (Home Mortgage

9453

confusion of a date in the 21st century
w ith a date in the 20th century—by
adding two digits to represent the
century. For example, January 15, 2002,
w ould be reflected as 01/15/2002 rather
than 01/15/02. Accordingly, the Board
proposes to revise the HMDA-LAR form
and the instructions (Appendix A to
Regulation C) to require the date of
application and date of action taken to
be entered in the form MM/DD/CCYY.
The paper version of the HMDA-LAR
m odel form in A ppendix A shows
sample transactions, the first an
originated loan and the second a denied
application. In both examples, the “ date
application received” and “date action
taken” fields contain dates from 1992.
Similarly, the instructions relating to
these two fields contain references to
1992 dates. To update these examples
and instructions, as w ell as to rem ind
reporting institutions of the change to a
four-character year in the date fields, the
proposed am endm ents replace “ 92”
w ith “ 1999” in the examples and
instructions.
B. Deletion o f Parent C om pany
Inform ation

Pamela C. Blum enthal, Staff Attorney,
The Transm ittal Sheet (TS) that
or John C. Wood, Senior Attorney,
accom panies the HMDA-LAR currently
Division of Consumer and Comm unity
calls for the name and address of the
Affairs, Board of Governors of the
parent company, if any, of the
Federal Reserve System, W ashington,
institution subm itting HMDA data. The
DC 20551, at (202) 452-2412 or (202)
Board proposes to am end the TS by
452-3667; for users of
deleting the requirem ent to enter the
Telecom m unications Device for the Deaf
nam e and address of the submitting
(TDD) only, contact Diane Jenkins at
institution’s parent company, given that
(202) 452-3544.
in m ost cases this inform ation is
SUPPLEMENTARY INFORMATION:
available from the bank structure
I. Background
inform ation already collected by the
agencies.
The Board’s Regulation C (12 CFR
Part 203) im plem ents the Home
C. Reassignm ent o f Functions o f
Mortgage Disclosure Act (HMDA) (12
Farmers H om e Adm inistration
U.S.C. 2801 et seq.). The regulation
One of the items of information
requires m ost mortgage lenders located
reported on the HMDA-LAR about a
in m etropolitan statistical areas (MSAs)
to report annually to federal supervisory loan or application is the type of loan.
Similarly, for loans sold, the lender
agencies, and disclose to the public,
reports the type of purchaser of the loan.
inform ation about their hom e mortgage
The code sheet lists the Farmers Home
and hom e im provem ent lending
A dm inistration (FmHA) as one of the
activity.
categories (as an insurer or purchaser of
II. D iscussion o f Am endm ents
loans).
A. Year 2000 Changes
Reorganization w ithin the Departm ent
of Agriculture has resulted in the
Among items reported on the HMDA
functions of the FmHA being reassigned
Loan A pplication Register (HMDAto two new units, the Farm Service
LAR), institutions are required to enter
the date of application and the date
Agency and the Rural Housing Service.
For “type of loan,” the Board proposes
action was taken. Currently, these dates
are to be entered using two digits for the to replace the references to the Farmers
year, in the form MM/DD/YY. As part of Home A dm inistration or FmHA (in the
code sheet for the HMDA-LAR form and
the interagency Year 2000—Century
in the instructions regarding type of
Date Change program, the Board, on
loan) w ith a reference to “Farm Service
behalf of the agencies responsible for
Agency or Rural Housing Service” (or
HMDA compliance, has begun
“FSA/RHS”). W ith regard to “type of
m odifying software to avoid the

9454

Federal R egister/Vol. 63, No. 3 7 /W ednesday, February 25, 1 9 9 8 /Proposed Rules

purchaser,” the successor agencies to
FmHA do not purchase loans. A
secondary market entity that does
purchase loans, the Federal Agricultural
Mortgage Corporation, is not currently
included in the list. Accordingly, the
Board proposes to revise the references
to FmHA, as a purchaser of loans, to
refer instead to the Federal Agricultural
Mortgage Corporation or FAMC.
In the collection and reporting of 1998
data, institutions should use the existing
codes for FmHA to refer to loans
guaranteed by FSA or RHS, or to loans
that have been sold to FAMC, as
applicable.
D. Paperwork Reduction A ct
Requirem ents
Regulations issued by the Office of
M anagement and Budget (OMB) to
im plem ent the Paperw ork Reduction
Act (5 CFR Part 1320) contem plate that
regulations im posing data collection
requirem ents include control num bers
assigned by OMB. Currently, Regulation
C, the instructions for the HMDA-LAR
and TS, and the TS form itself contain
an OMB control num ber (7100-0247)
assigned to the Federal Reserve in
connection w ith HMDA reporting
requirements. The Board is making a
technical am endm ent to the regulation,
the instructions, and the TS form—
adding the control num bers assigned to
the Office of the Comptroller of the
Currency (1557-0159), the Federal
Deposit Insurance Corporation (30640046), and the Office of Thrift
Supervision (1550-0021). The National
Credit U nion A dm inistration and the
D epartm ent of Housing and Urban
D evelopm ent are in the process of
obtaining OMB control numbers; these
num bers w ill be added at a later time.
The am endm ent also includes a num ber
of other m inor technical changes in the
instructions and the TS form.
E. Clarification Regarding Coverage o f
N ondepository Lending Institutions
The Board proposes a technical
am endm ent to clarify the coverage of
nondepository institutions. The
definition of “financial institu tio n ”
u nder Regulation C includes
nondepository lending institutions that,
in the preceding calendar year,
originated home purchase loans or
refinancings of hom e purchase loans in
an am ount of 10 percent or more of the
in stitu tio n ’s total loan origination
volume, m easured in dollars. The
definition is stated in § 203.2(e)(2) and
in paragraph I.D. of A ppendix A to the
regulation. Even if a nondepository
institution meets the definition of
“financial institution,” however, it is
not covered by Regulation C unless the

institution either had assets over $10
m illion or originated 100 or more home
purchase loans, including refinancings
of hom e purchase loans, during the
preceding calendar year. The
instructions (see paragraph I.C. of
A ppendix A) refer expressly to
refinancings, b u t § 203.3(a)(2)(ii) does
not. Some institutions have suggested to
the Board that including a reference to
refinancings in § 203.3 w ould be useful.
The Board’s notice at the tim e the
100-loan test was added to Regulation C
m ade clear that refinancings of home
purchase loans are included in
calculating w hether the coverage
threshold was reached. (See 57 FR
56963, December 2, 1992.) Accordingly,
the Board proposes adding a reference
to refinancings of home purchase loans
to § 203.3(a)(2)(ii), to conform to
paragraph I.C. of A ppendix A.
F. A d justm ent in E xem ption Threshold
fo r D epository Institutions
The Board is required to adjust the
exem ption threshold for depository
institutions annually based on the
annual percentage change in the
Consumer Price Index. In December
1997, the Board am ended the Regulation
C staff commentary, adjusting the
exem ption threshold for depository
institutions for 1998 data collection to
$29 m illion (62 FR 66259, December 18,
1997). (The figure for 1997 data
collection was $28 million.) Thus,
depository institutions w ith assets of
$29 m illion or less as of December 31,
1997, are exem pt from data collection in
1998. The Board is am ending the
regulation and the instructions for the
HMDA-LAR to conform.
G. Effective Date o f A m en dm en ts
The Board proposes to make the final
am endm ents effective for data collected
in calendar year 1998, w hich w ill be
subm itted to supervisory agencies by
M arch 1,1999. The personal com puter
data entry software available from the
supervisory agencies for 1998 data
collection already reflects the
am endm ents relating to four-digit year
and the deletion of parent com pany
information. The Board believes that
private sector software vendors (and
institutions that have developed their
ow n software) have modified their
HMDA data entry software in a similar
m anner, or are in the process of doing
so. Accordingly, the Board believes that
making these am endm ents effective for
1998 data w ill not be burdensom e to
reporting institutions. However, the
Board requests com ment from any
institutions th at m ay have a problem in
complying.

Other am endm ents in this proposal
make changes to Regulation C that are
technical or that merely clarify existing
rules; the Board does not believe any of
these changes w ould impose
com pliance burdens on reporting
institutions.
These proposed am endm ents do not
affect the reporting of calendar year
1997 data, w hich are due no later than
M arch 1,1998; the requirem ents for data
collected in 1997 rem ain unchanged.
III. Regulatory Flexibility A nalysis

In accordance w ith section 3(a) of the
Regulatory Flexibility Act (5 U.S.C.
604), the Board’s Office of the Secretary
has reviewed the proposed am endm ents
to Regulation C. Overall, the
am endm ents are not expected to have a
significant im pact on small entities. A
final regulatory flexibility analysis w ill
be conducted after consideration of
com ments received during the public
com m ent period.
IV. Paperw ork R eduction Act

A. Paperwork Burden
In accordance w ith the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506),
the Board has review ed the proposed
rule under authority delegated to the
Board by the Office of Management and
Budget. 5 CFR 1320 A ppendix A .I.
The proposed revisions to the
inform ation collection requirem ents are
found in 12 CFR 203.1, 203.3, and
A ppendix A to Part 203 and im plem ent
the data collection and reporting
requirem ents established by the Home
Mortgage Disclosure Act. The proposed
am endm ents w ould make several
technical changes in the reporting
requirem ents of Regulation C; these
changes are expected to have no impact
on reporting burden. The proposed
am endm ents w ould also clarify existing
requirem ents of the regulation; these
am endm ents w ould have no im pact on
reporting burden.
Regulation C applies to all types of
financial institutions and other
mortgage-lending institutions that m eet
the coverage tests. U nder the Paperwork
Reduction Act, however, the Board
accounts for the paperw ork burden
associated w ith Regulation C only for
state member banks, their subsidiaries,
subsidiaries of bank holding com panies,
and other entities regulated by the
Federal Reserve. Any estimates of
paperw ork b urden for other respondents
are provided by the federal agency or
agencies that supervise them.
The Board estimates that the effect of
the am endm ents on the burden per
response is negligible. The estim ated
burden per response varies from 10 to

Federal R eg ister/Vol. 63, No. 3 7 /W ednesday, February 25, 1 9 9 8 /Proposed Rules
10,000 hours, depending on individual
circum stances, w ith estim ated averages
of 202 hours for state m em ber banks and
160 hours for mortgage banking
subsidiaries. The Board expects to
receive HMDA—
LARs covering 1997
data from 515 state member banks and
106 mortgage banking subsidiaries.
Therefore, the total hour b urden for
institutions the Federal Reserve
supervises is 120,990. Since asset data
for December 31, 1997 is not yet
available, the Board cannot yet estimate
the num ber of respondents w ho will
subm it 1998 data or the total annual
b urden for 1998.
B. OMB Control Number

U nder the Paperw ork R eduction Act,
an agency may n ot conduct or sponsor,
and an organization is not required to
respond to, a collection of inform ation
unless it displays a currently valid OMB
control num ber. The OMB control
num bers applicable to the HMDA-LAR
data collection are as follows: Office of
the Comptroller of the Currency, 15570159 (approval expires September 30,
1998); Federal Deposit Insurance
Corporation, 3064-0046 (approval
expires July 31, 2000); Office of Thrift
Supervision, 1550-0021 (approval
expires December 31, 1999); and Federal
Reserve System, 7100-0247 (approval
expires May 31, 2000). OMB control
num bers and expiration dates for the
National Credit U nion A dm inistration
and the D epartm ent of Housing and
Urban Development are pending.
List o f Subjects in 12 CFR Part 203

Banks, Banking, Consum er protection,
Federal Reserve System, Mortgages,
Reporting and recordkeeping
requirements.
Text o f Proposed R evisions

Certain conventions have been used
to highlight the proposed changes to
Regulation C. New language is show n
inside bold-faced arrows, w hile
language that w ould be rem oved is set
off w ith brackets.
Pursuant to the authority granted in
section 305(a) of the Home Mortgage
Disclosure Act, 12 U.S.C. 2804(a), and
for the reasons set forth in the preamble,
the Board proposes to am end 12 CFR
part 203 as set forth below:
PART 203— HOME MORTGAGE
DISCLOSURE (REGULATION C)

1. The authority citation for part 203
continues to read as follows:

§203.1

Authority, purpose, and scope.

(a) A uthority. * * * The informationcollection requirem ents have been
approved by the U.S. Office of
M anagement and Budget u nder 44
U.S.C. 3501 et seq. and have been
assigned OMB [No.] ►N u m b e r s 15570159, 3064-0046, 1550-0021,-^ and
7100-024 ? ► for institutions reporting
data to the Office of the Comptroller of
the Currency, the Federal Deposit
Insurance Corporation, the Office of
Thrift Supervision, and the Federal
Reserve System, respectively; num bers
for the National Credit Union
A dm inistration and the D epartment of
Housing and Urban Development are
pending-^.
3. § 203.3 w ould be am ended as
follows:
a. Paragraphs (a)(1) introductory text
and (a)(2) introductory text are
republished;
b. Paragraph (a)(l)(ii) w ould be
revised; and
c. Paragraph (a)(2)(ii) w ould be
revised.
The proposed revisions read as
follows:
§2 0 3.3

Exem pt institutions.

(a) E xem ption based on location, asset
size, or num ber o f h om e purchase loans.
(1) A bank, savings association, or credit
union is exem pt from the requirements
of this regulation for a given calendar
year if on the preceding December 31:
(i) * * *
(ii) The institution’s total assets were
at or below the asset threshold
established by the Board. For data
collection in [1997]^1998*^, the asset
threshold is [$28]>*-$29-^ m illion as of
December 31, [1 9 9 6 ]^ 1 9 9 7 -< * * *
(2) A for-profit mortgage lending
institution (other than a bank, savings
association, or credit union) is exem pt
from the requirem ents of this regulation
for a given calendar year if:

to 10,000 hours per response, w ith an average
of 202 hours per response for state member
banks and 160 hours per response for
mortgage banking subsidiaries, including
time to gather and m aintain the data needed
and to review instructions and com plete the
inform ation collection.] This report is
required by law (12 USC 2801-2810 and 12
CFR 203). A n agency m ay n o t conduct or
sponsor, and an organization is not required
to respond to, a collection of inform ation
unless it displays a currently valid OMB
Control Number. The OMB Control [number]
►N u m b e r s - ^ for this inform ation collection
[is] ► a r e 1557-0159, 3064-0046, 1550-0021,
a n d -^ 7100-0247 ► for institutions
reporting data to the Office of the
Comptroller of the Currency, the Federal
Deposit Insurance Corporation, the Office of
Thrift Supervision, and the Federal Reserve
System, respectively; num bers for the
National Credit U nion A dm inistration and
the Departm ent of Housing and Urban
Developm ent are pending-^. Send comments
regarding this b urden estim ate or any other
aspect of this collection of information,
including suggestions for reducing the
burden, to [Secretary, Board of Governors of
the Federal Reserve System, W ashington,
D.C. 20551;] ► t h e respective agencies-^ and
to the Office of Information and Regulatory
Affairs, Office of M anagement and Budget,
W ashington, D.C. 20503.

A ppendix A to Part 203— [Amended]

5. A ppendix A to Part 203 w ould be
am ended as follows:
a. Paragraph I.A.2. w ould be revised;
b. The first sentence of Paragraph
V.A.2. and paragraph V.A.3. w ould be
revised;
c. Paragraph V.B.3. introductory text
w ould be revised; and
d. Paragraph V.E.l. introductory text
is republished and paragraph V .E.l. 4.
w ould be revised.
The proposed revisions read as
follows:
I. Who Must File a Report

ii!)

A. Depository institutions
(ii) The institution’s total assets
^
*
*
*
com bined w ith those of any parent
2. For data collection in [1 9 9 7 ]^1 9 9 8 -^ ,
corporation were $10 m illion or less on
the asset threshold is [$ 2 8 ]^ $ 2 9 -^ m illion
the preceding December 31, and the
in total assets as of December 31,
institution originated fewer than 100
[1 9 9 6 ]^ 1 9 9 7 -<
home purchase loans ►( i n c lu d in g
refinancings of hom e purchase lo a n s ) ^
V. Instructions for Completion of Loan/
in the preceding calendar year.
4. In appendix A to part 203 u nder the Application Register
heading PAPERWORK REDUCTION
A. Application or Loan Information
ACT NOTICE, the undesignated
^
*
*
*
paragraph w ould be revised to read as
2. Date application received. Enter the date
follows:
the loan application was received by your
A ppendix A to Part 203—Form and
Instructions for Com pletion o f HMDA
Loan/A pplication Register

institution by m onth, day, and year, using
num erals in the form M M /D D /lM X -^Y Y (for
example, 0 1 /1 5 /[9 2 ]^ 1 9 9 9 -^). * * *

Paperwork Reduction Act Notice

3. Type. Indicate the type of loan or
application by entering the applicable
code from the following:

[Public reporting burden for collection of
this inform ation is estim ated to vary from 10

1—Conventional (any loan other than FHA,
VA [or FmHA] ► , FSA, or R H S-* loans)

Authority: 12 U.S.C. 2801-2810.

2. § 203.1 w ould be am ended by
revising the last sentence of paragraph
(a) to read as follows:

9455

9456

Federal R eg ister/Vol. 63, No. 3 7 /Wednesday, February 25, 1998/Proposed Rules

2—FHA-insured (Federal H ousing
Adm inistration)

3—VA-guaranteed (Veterans Administration)
4— [FmHA-insured (Farmers Home
Administration)] ►F S A /R H S -g u aran teed
(Farm Service Agency or Rural Housing
Service)"^

*

*

*

*

*

B. A ction Taken

*

*

*

*

*

3. Date o f action. Enter the date by month,
day, and year, using num erals in the form
M M/DD/^-CC-^YY (for exam ple, 02/22/
[92] ^ 1999-^).

*

*

*

*

*

E. Type o f Purchaser
1. Enter the applicable code to indicate
w hether a loan th at your institution
originated or purchased was then sold to a
secondary market entity w ithin the same
calendar year:

*

*

*

*

*

4— [FmHA (Farmers Home
Administration)]FAMC (Federal
Agricultural Mortgage Corporation)

*

*

*

*

*

6. In A ppendix A, the LOAN/
APPLICATION REGISTER Transm ittal Sheet
w ould be revised to read as follows:
B IL L IN G C O D E 6 2 1 0 - 0 1 - P

Federal R eg ister/Vol. 63, No. 3 7 /W ednesday, February 25, 1998/Proposed Rules

LOAN/APPLICATION REGISTER

Form FR HMDA-LAR.
OMB [No.] »Nos. 1557-0159 (OCC), 3064-0046
(FDIC), 1550-0021 (OTS), and* 7100-0247
►(FRB); NCUA and HUD numbers
pending*. [Approval expires May 31, 2000.]

TRANSMITTAL SHEET
You must complete this transmittal sheet (please type or print) and attach it to the Loan/Application
Register, required by the Home Mortgage Disclosure Act, that you submit to your supervisory agency.
Reporter's Identification Number

Agency
Code

I_I_I_I_I_I_I_I_I_I_I - L I

Total line entries contained in
attached Loan/Application Register

Reporter's Tax Identification N umber

l_ U - U _ I_ I_ L _ U _ I

_______________

The Loan/Application Register that is attached covers activity during the y e a r _____ and contains a total of
pages.
Enter the name and address of your institution. The disclosure statement that is produced by the Federal
Financial Institutions Examination Council will be mailed to the address you supply below:

Name of Institution

Address

City, State, ZIP

Enter the name, telephone number, and facsimile number of a person who may be contacted about questions
regarding your register:
____________________________
Name

( _ _ ) _________________________
Telephone Number

(___ )_______________________
Facsimile Number [(if applicable)]

[If your institution is a subsidiary of another institution or corporation, enter the name of your parent:

Name

Address

City, State, Z ip]

An officer of your institution must complete the following section.
I certify to the accuracy of the data contained in this register.

Name o f Officer

Signature

7. In A ppendix A, the LOAN/APPLICATION REGISTER w ould be revised to read as follows:

Date

9457

9458

BILLING
CODE

P age_of_
_

Name ol Reporting institution

Form FR H M D A -L A R

All columns (except Reasons for Denial) must be completed for each entry. S ee the instructions for details.

l

Application or
Loan Information

Action Taken

Date
Application
Received
(mm/dd/ccyy)

Application or
Loan Number
E x a m p le

o f

Loan

o f

|

|

A p p lic a tio n

1

I

I

I

- i ____I
____L .

Property Location

Race or
National Origi

Type

Date
(mnVdd/ccyy)

FourDigit
MSA
Number

TwoDigit
State
Code

1....

J ___ I

Applicant Information
A a Applicant
CA = Co-Applicant

ThreeDigit
County
Code

Gross
Annual

Sex

T yped
Pur­
chaser
olLoan

A

CA

A

CA

in
thou­
sands

3

8,

1

4

24

4

2

1

55

0

Reasons
lor
Denial
(Optional)

7

5

Six-Digit
Census
Tract

|

|

|

|

|

|

|

|

|

|

1

1

1

i

1

1

1

|

|

0 1 /1 5 /1 9 9 9

2

1

1

65

1

0 2 /2 2 /1 9 9 9

8640

51

059

0 3 /2 0 /1 9 9 9

1

1

1

125

3

0 4 /3 0 /1 9 9 9

0450

01

015

i i l i A

i l u j i i . 5

D e n ie d

0 | 1 | 2 , 3 | 4 | 5 | 6 | 7 , 8 | 9 | - | 9 | 8 17 | 6 | 5 , 4 | 3 | 2 | 1 | 0 |
1

Owne
Pur­ Occu­
Type pose pancy

Loan
amount
in
thou­
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Federal R egister/V ol. 63, No. 3 7 / Wednesday, February

6 2 1 0 - 0 1 -C

LOAN/APPLICATION REG ISTER

Federal R eg ister/Vol. 63, No. 3 7 / Wednesday, February 25, 1998/Proposed Rules
8. In A ppendix A, the LOAN/
APPLICATION REGISTER CODE SHEET
w ould be revised to read as follows:

Loan/Application Register Code Sheet

Use the following codes to complete
the Loan/A pplication Register. The
instructions to the HMDA-LAR explain
the proper use of each code.
Application or Loan Information
Type:
1—Conventional (any loan other than
FHA.VA or FmHA loans)
2— FHA-insured (Federal Housing
—
A dm inistration)
3—VA-guaranteed (Veterans Adm inistration)
4— [FmHA-insured (Farmers Home
Administration)] ►F S A /R H S -g u aran teed
(Farm Service Agency or Rural Housing
Service)-^
Purpose:
1—Home purchase (one-to-four family)
2—Home im provem ent (one-to-four family)
3—Refinancing (home purchase or home
im provem ent, one-to-four family)
4—M ultifamily dw elling (home purchase,
home im provem ent, and refinancings)
O wner-Occupancy:
1—O wner-occupied as a principal dwelling
2—Not
ow ner-occupied
3—Not applicable
Action Taken:
1—Loan originated
2—A pplication approved but not accepted
3—A pplication denied by financial
institution
4—A pplication w ithdraw n by applicant
5—File
closed for incom pleteness
6—Loan purchased by your institution

Applicant Information
Race or National Origin:
1—A m erican Indian or A laskan Native
2—A sian
or Pacific Islander
3—Black
4—Hispanic
5—W hite
6—Other
7—Information not provided by applicant in
mail or telephone application
8—Not
applicable
Sex:
1—Male
2—Female
3—Information not provided by applicant in
m ail or telephone application
4—Not
applicable

Type of Purchaser
0—Loan was n ot originated or w as not sold
in calendar year covered by register
1—FNMA (Federal National Mortgage
Association)
2—GNMA (Government N ational Mortgage
Association)
3—FHLMC (Federal Home Loan Mortgage
Corporation)
4— [FmHA (Farmers Home Administration)]
FAMC ► ( F e d e r a l Agricultural Mortgage
C orporation)-^
5—Commercial bank
6—Savings
bank or savings association
7—Life
insurance com pany
8—Affiliate institution
9—Other type of purchaser

Reasons for Denial (Optional)
1—Debt-to-income ratio
2—Em ploym ent history
3—Credit
history
4—Collateral
5—Insufficient cash (dow npaym ent, closing
costs)
6—U nverifiable inform ation
7—Credit
application incom plete
8—Mortgage insurance denied
9—Other
By order of the Board of Governors of the
Federal Reserve System, February 18, 1998.

William W. Wiles,

Secretary of the Board.
[FR Doc. 98-4609 Filed 2-24-98; 8:45 am]
B IL L IN G C O D E 6 2 1 0 - 0 1 - P

9459


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102