The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF DALLAS
DALLAS. T E X A S
75222
Circular No. 82-12
January 29, 1982
HOME MORTGAGE DISCLOSURE
Final HMDA-1 Form
TO ALL MEMBER BANKS
AND OTHERS CONCERNED IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
The Board o f G overnors o f th e Federal R eserve System is
publishing the final version o f its HMDA-1 disclosure and reporting form ,
required under the H om e M ortgage D isclosure A ct. This form at is to be used
by all depository institu tions covered by R egulation C for reporting their
m ortgage and hom e im provem ent loan d ata, beginning with d ata for the
calendar year 1981. The form c o n s titu te s Appendix C to the regulation.
Printed on the follow ing pages is a copy o f th e m aterial as
subm itted for publication in the Federal R e g iste r which more fully explains
the Board's action .
Q uestions regarding the Home M ortgage D isclosure A c t should be
directed to this Bank's Legal D ep artm en t, Ext. 6228.
Additional c o p ies o f this circular w ill be furnished upon request to
the D ep artm en t o f C om m unications, Financial and C om m unity A ffairs, Ext.
6289.
Sincerely yours,
William H. W allace
First Vice President
Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank:
1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.
This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
FEDERAL RESERVE SYSTEM
12 CFR Part 203
[Reg. C; Docket No. R-0350]
HOME MORTGAGE DISCLOSURE
Final HMDA-1 Form
AGENCY:
Board of Governors of the Federal Reserve System.
ACTION:
Final r u l e .
SUMMARY:
The Board i s publish ing the fi n a l version of i t s HMDA-1 d i s c lo s u r e
and r epo rt in g form, required under th e Home Mortgage Disclosure Act.
This f o r
mat i s t o be used by a l l dep ository i n s t i t u t i o n s covered by Regulation C for
r eport in g t h e i r mortgage and home improvement loan d a t a , beginning with data
fo r the calendar year 1981.
EFFECTIVE DATE:
The form c o n s t i t u t e s Appendix C to the r e g u l a tio n .
December 30, 1981.
FOR FURTHER INFORMATION CONTACT:
John C. Wood, Senior Attorney, or Claudia J .
Yarus, S t a f f Attorney, Division of Consumer and Community A f f a i r s , Board of
Governors of the Federal Reserve System, Washington, D.C. 20551 (202-452-3667).
SUPPLEMENTARY INFORMATION:
i t s HMDA-1 form.
(1)
The Board i s publishing the f in a l version of
A proposed version of t h i s form was published in the Federal
R egister on February 10, 1981 (46 FR 11780), as p a r t of the Board's proposal t o
r e v i s e Regulation C (12 CFR Part 203) implementing th e Home Mortgage Disc lo
sure Act (12 U.S.C. 2801-2811).
The Board published a f i n a l , revised version
of Regulation C t h a t became e f f e c t i v e on August 11, 1981 (46 FR 40679).
P ubli
ca tion of the f in a l version of th e HMDA-1 form was d e f e r r e d , however, because
of th e forms review by the Office of Management and Budget required under the
Paperwork Reduction Act (Pub. L. 96-511).
th e form.
0MB has now reviewed and approved
-
2 -
The HMDA-1 form i s the prescribed standard format t h a t a l l depository
i n s t i t u t i o n s su bject to Regulation C must use for d i s c lo s i n g and rep o rtin g mort
gage and home improvement loan d a t a , beginning with data on loans made or pur
chased in calen dar yea r 1981.
Depository i n s t i t u t i o n s may photocopy th e HMDA-1
form t h a t will be provided through fed er al f i n a n c ia l supervisory ag encies, or
may p r i n t t h e i r own re port forms so long as they use the prescrib ed format.
I f they use computer-generated r e p o r t s , they may adapt the form for computer
p r i n t - o u t as necessary, so long as th e format conforms to th e HMDA-1 form.
Copies of the form will be made a v a i l a b l e t o a l l s t a t e member banks
of the Federal Reserve System through the Federal Reserve Banks.
The form
will be made a v a i l a b l e to a l l othe r depos ito ry i n s t i t u t i o n s through th e nea res t
regional o f f i c e of t h e i r federal supervisory agency — the Federal Home Loan
Bank Board, th e Comptroller of the Currency, th e Federal Deposit Insurance
Corporation, or the National Credit Union Administration.
It i s contemplated t h a t the Federal Reserve Board will d i s t r i b u t e
copies of HMDA-1 t o th e other agencies during the f i r s t two weeks in January
1982, f o r f u r t h e r d i s t r i b u t i o n by each agency t o the depository i n s t i t u t i o n s
subject t o i t s j u r i s d i c t i o n .
Depository i n s t i t u t i o n s should co ntact t h e i r own supervisory agency,
not the Federal Reserve, f o r information about d i s t r i b u t i o n .
The HMDA-1 form i s i d e n t i c a l in substance t o the proposed version
t h a t was published in February 1981; the i n s t r u c t i o n s have been expanded t o
a s s i s t users.
This revised form i s a ls o s i m i l a r to the o r ig in a l form in Regu
l a t i o n C, the d i f f e r e n c e being t h a t th e "Total Residential Mortgage Loans"
column in the o r i g in a l form has been d e l e t e d .
- 3 -
The addition of the HMDA-1 form to Regulation C does not Impose any
new requirements; i t merely provides the vehicle for f u lf illin g requirements
already set forth in the regulation.
Accordingly, the form becomes effective
immediately, and is not subject to a delayed effective date under 5 U.S.C. 553(d).
(2)
Pursuant to the authority granted in 12 U.S.C. 2803(e) and 2804(a),
the Board hereby amends Regulation C (12 CFR Part 203) by adding Appendix C, to
read as follows:
Appendix C
MORTGAGE LOAN DISCLOSURE STATEMENT
W H O MUST FILE.
1. This form must be filed by depository Institutions that
a. have assets of more than $10 million,
b. make first lien loans on 1-to-4 family residential real
property, and
c. are located In standard metropolitan statistical areas
(SMSAs).
2. Institutions that have been exempted by the Federal
Reserve Board because they are covered by a similar
state mortgage loan disclosure law will Instead complete
and file the disclosure form required by their state law.
W H E N AND WHERE TO FILE.
1. The institution must send two copies of the disclosure
statement to the regional office of Its federal enforcement
agency no later than March 31 following the calendar year
for which the loan data were compiled.
2. The Institution also must make Its disclosure statement
available no later than March 31 for examination by the
public.
4. Dollar amounts are to be rounded to the nearest thousand
($500 will be rounded up), and shown In terms of
thousands.
DATA TO BE EXCLUDED.
1. Do not report loans that, although secured by real estate,
are made lor purposes other than the purchase of residen
tial real estate or home improvement (for example, a loan
secured by residential real property lor purposes of finan
cing education, a vacation, or business operations).
2. Also exclude from disclosure: construction loans and
other temporary financing; loans made or purchased by
the institution acting in a fiduciary capacity (by the In
stitution's trust department, for example); loans on unim
proved land; and refinancings of loans originated by the
Institution that involve no Increase In the outstanding
principal (provided the parties to the loan remain the
same).
GEOGRAPHIC ITEMIZATION (Grouping of loan data by
SMSA, census tract or county, and outside-SMSA).
1. Loan data are to be Itemized separately for each SMSA in
which the institution has a home or branch olfice. A
separate page must be used lor each SMSA. (See Item 4
below lor treatment of loans on property outside such
SMSAs.) The institution must use the SMSA boundaries
as defined by the U.S. Department of Commerce on
January 1 of the calendar year for which the loan data are
compiled.
census tract outline maps.
(The Institution should use the Census Bureau's PHC80-2
series for the 1980 census if it is available for the par
ticular SMSA. Until the series Is available, the institution
may use the Census Bureau's PHC(1) series maps for
1970, or it may use 1980 data from the Census Bureau
(such as the GBF/DIM E files) or from a private publisher.
The Institution should Indicate on the statement whether
it has used 1970 or 1980 census tracts. An Institution us
ing 1970 census tracts for a given SMSA must use them
for the entire calendar year, even if the PHC80-2 maps for
that SMSA become available during the year.)
4. If the property to which the loan relates is located outside
SMSAs in which the reporting Institution has a home or
branch office, or outside any SMSA, the loan data should
be listed as an aggregate sum In Section 2 of the form; no
geographic itemization Is necessary.
5. Institutions that have a home or branch office in the New
York City/New Jersey SMSA should note that there are
duplicate census tract numbers in New York City. There
may also be duplicate numbers in other SMSAs. When
reporting loan data relating to property In these SMSAs,
the Institutions must indicate the county name In addition
to the tract number.
TYPE-OF-LOAN ITEMIZATION (Itemization of each
geographic grouping Into loan categories).
1. Column A:
INSTRUCTIONS
FOR COMPLETION OF FORM
2. Loan data on property within an SMSA shall be further
Itemized by the census tract in which the property Is
located, except that the loan data shall be itemized by
county Instead ol census tract when the property to which
the loan relates is located
DATA TO BE SHOW N.
1. The Institution must show the data on residential mort
gage and home Improvement loans that were originated
and purchased during the calendar year covered by the
statement.
2. Data for each category on the statement must show both
the number of loans and the total dollar amount of loans.
3. Data for loans originated by the Institution are to be
shown in Part A and data for loans purchased in Part B.
a. In an area that is not divided Into census tracts on the
Census Bureau's census tract outline maps; or
b. In a county with a population of 30,000 or less. (Note:
To determine population, use the Census Bureau's
PCB0-1-A population series. If that series Is not yet
available for a particular county, use the PHC80-V
series.)
3. To determine census tract numbers and SMSA bound
aries, the institution should consult the Census Bureau's
FHA, FmHA, end VA loans on 1-to-4 family dwellings. This
category Includes loans that are secured by liens (both
first and junior liens) and that are made for the purpose of
purchasing residential real property and that have FHA,
Fm HA. and VA Insurance or guarantee. It Includes refinanclngs (but see item 2 under DATA TO BE EXCLUDED). It
may include, at an Institution’s option, first lien loans for
home improvement purposes If the institution normally
classifies first lien loans as purchase loans. It does not
include FHA Title I loans, which are to be entered in
column C.
2. Column B:
Other home purchase loans ("conventional" loans) on
1-to-4 family dwellings. This category includes loans
secured by liens (both first and junior liens) and made for
the purpose of purchasing residential real properly, other
than FHA, FmHA. and VA loans. II includes refinancings
(but see item 2 under DATA TO BE EXCLUDED). It may in
clude, at an institution's option, first lien loans lor home
Improvement purposes II the institution normally
classifies first lien loans as purchase loans.
3. Column C:
Home improvement loans on 1-to-4 family dwellings. This
category is limited to any loan, including a refinancing,
that is to be used lor repairing, rehabilitating, or remodel
ing a residential dwelling and that is recorded on the in
stitution's books as a home improvement loan. It includes
both secured and unsecured loans.
4. Column D:
Loans on multi-lamlly dwellings (5 or more families). This
category includes home purchase and home Improvement
loans— that Is, It covers the same types of loans as are
covered In columns A, B, and C. The difference is that
those columns relate to loans on l-to-4 family dwellings,
whereas column D relates lo loans on dwellings lor 5 or
more families.
5. Column E:
Non occupant loans on 1-to-4 family dwellings. This Is an
addendum category lor reporting those home purchase
and home improvement loans on 1-to-4 family dwellings
(recorded in columns A, B, and C) that were made to a
borrower who did not, at the time ol the loan application,
intend to use the property as a principal dwelling. A
depository institution may assume, unless its records con
tain information to the contrary, that a loan It purchases
does not fall within this category.
NOTE:
This is a reduced version of the HMDA-1 form.
8k x 14 inches.
Actual size:
FR B H M D A I
MORTGAGE LOAN DISCLOSURE STATEMENT
om b no.
nobooao
A pproval M p k n S f j l —TO— 1984
Report for loans made In 19____
This report Is required by law (12 U.S.C. 2801-2811 and 12 CFR 203).
Depository Institution
Enforcement Agency for this Institution
________________________ ____________________________________
Ham*
____________________________________________________________
i m
h
___________________________________________________________
Census tract series used: .
N*"»
___________________________________________________________
1970 series____ 1980 series
SMSA (location of property)
A d*M i
i
part
A-ORIGINATIONS
SECTION 1—LOANS ON PROPERTY LOCATED WITHIN THOSE SMSAs IN WHICH INSTITUTION HAS HOME OR BRANCH OFFICES
Loans on 1 • to ■ 4 family dwellings
CENSUS TRACT (In numerical
sequence) where property located
or
COUNTY (name)
where property located
Home Purchase Loans
FHA, FmHA, and VA
Other ("Conventional")
A
No. ol
Loans
Home Improvement Loans
B
Principal Amount
(Thousands)
No. of
Loans
Principal Amount
(Thousands)
Loans on Multi-family
Dwellings for 5 or more
families (home purchases
and home Improvement)
D
C
No. of
Loans
Principal Amount
(Thousands)
SMSA TOTAL
SECTION 2-L O A N S ON ALL PROPERTY LOCATED ELSEWHERE
Addendum Item:
Non-occupant Loans on
1 - to - 4 family dwellings
No. ol
Loans
Principal Amount
(Thousands)
E
No. of
Loans
Principal Amount
(Thousands)
PART B—PURCHASES
SECTION 1-D A TA FOR PROPERTY LOCATED WITHIN THOSE SMSAs IN WHICH INSTITUTION HAS HOME OR BRANCH OFFICES
Loans on 1 - to ■ 4 family dwellings
CENSUS TRACT (In numerical
sequence) where properly located
or
COUNTY (name)
where properly located
Home Purchase Loans
Home Improvement Loans
FHA, FmHA, and VA
Other ("Conventional")
A
No. ol
Loans
B
Principal Amount
(Thousands)
No. ol
Loans
Principal Amount
(Thousands)
Loans on Multi-family
Dwellings for 5 or more
families (home purchases
and home Improvement)
C
No. of
Loans
Principal Amount
(Thousands)
Addendum Hem:
Non-occupant Loans on
1 • to • 4 family dwellings
D
No. of
Loans
Principal Amount
(Thousands)
E
No. ol
Loans
SMSA TOTAL
SECTION 2 -L O A N S ON ALL PROPERTY LOCATED ELSEWHERE
By order of the Board of Governors, December 30, 1981.
(signed) William W. Wiles
William W. Wiles
Secretary of the Board
[SEAL]
Principal Amount
(Thousands)
@FedFRASER