Full text of District Notices (Federal Reserve Bank of Dallas) : Public Comment on Amendments to Regulation C which Carry Out Provisions of the Home Mortgage Disclosure Act, Circular No. 88-35

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Federal R eserve Ban k
OF DALLAS
W ILLIAM

H. WALLACE

f ir s t

p r e s id e n t

v ic e

DALLAS. TEXAS 7 5 2 2 2

AND C H IE F O P E R A T IN G O F F IC E R

May 20, 1988
Circular 88-35
TO:

The Chief Executive Officer of all
member banks and others concerned in
the Eleventh Federal Reserve District
SUBJECT

Request for public comnent on amendments to Regulation C which carry
out provisions of the Home Mortgage Disclosure Act
DETAILS
The Federal Reserve Board has issued for public comment amendments to
Regulation C (Home Mortgage Disclosure) which carry out provisions of the Home
Mortgage Disclosure Act enacted earlier this year.
The proposed amendment to Regulation C calls for an expansion of the
Regulation's coverage to include mortgage banking subsidiaries of bank and
savings and loan holding companies, and also to savings and loan service
corporations that originate or purchase mortgage loans. Until now, the act's
coverage has applied only to depository institutions and their majority-owned
subsidiaries.
Comments should be addressed to Mr. William W. Wiles, Secretary,
Board of Governors of the Federal Reserve System, Washington, D.C. 20551. All
correspondence should refer to Docket No. R-0635 and must be received by June
20, 1988.
ATTACHMENTS
The Board's press release and notice are attached.
MORE INFORMATION
For further information regarding the proposed amendments, please
contact Dean A. Pankonien at (214) 651-6228. For additional copies of this
circular, please contact the Public Affairs Department at (214) 651-6289.
Sincerely yours,
0

For a dditional copies of any circular please c ontact the Public Affairs D ep artm en t at (214) 6 51 -6 2 8 9 . Banks and others are
encouraged to use the follow ing incom ing W A TS numbers in contacting this Bank (800) 4 4 2 -7 1 4 0 (intrastate) and (800)
5 2 7 -9 2 0 0 (interstate).

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

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FEDERAL RESERVE SYSTEM
[12 CFR Part 203]
[Regulation C; Docket No. R-0635]
HOME MORTGAGE DISCLOSURE
Proposed Amendments to Regulation C
AGENCY:

Board of Governors of the Federal Reserve System.

ACTION:

Proposed rule.

SUMMARY: The Board is publishing for public comment a revised
Regulation C (Home Mortgage Disclosure). The revised regulation
incorporates recent amendments to the Home Mortgage Disclosure
Act (12 U.S.C. § 2801 et seq.) contained in section 565 of the
Housing and Community Development Act of 1987 (Pub. L. 100-242,
§ 565, 101 Stat. 1815, 1945). These statutory amendments
permanently extend the act and expand its coverage to mortgage
banking subsidiaries of bank and savings and loan holding
companies, and also to savings and loan service corporations
that originate or purchase mortgage loans. Until now, the act's
coverage has applied only to depository institutions and their
majority-owned subsidiaries.
Other proposed changes to the regulation are based on a
zero-based review undertaken in keeping with the Board's Regu
latory Improvement Program (which calls for a periodic review of
Board regulations). The changes have been made in the interest
of facilitating compliance for covered institutions.
While the Board's proposal totally revises the existing
regulation, the reporting requirements remain identical in
substance for institutions that were covered before the Congress
amended the law, with one exception. The exception relates to
mortgage banking subsidiaries of depository institutions. These
subsidiaries would be required, under the Board's proposal, to
itemize loan data by census tract (or by county, in some
instances) for property located in metropolitan statistical areas
where the subsidiary has offices for taking loan applications
from the public. Under current law, the subsidiary is required
to itemize loan data only for an MSA where the parent institution
has its home or branch offices, and reports data as an aggregate
sum for loans on property located in other MSAs.
The Board proposes to retain the HMDA-1 form now used by
depository institutions for reporting loan data. In addition,
the Board proposes to issue a separate form, HMDA-2, for the use
of the newly covered entities. A separate form is necessary

because the statutory amendments require the newly covered
entities to exclude FHA loans from their data compilations,
whereas depository institutions and their majority-owned subsid
iaries will continue to report FHA loan data. Because some of
the newly covered entities have expressed interest in making data
about their FHA loan originations and purchases publicly
available in some fashion, the Board is also publishing for
comment an optional form, HMDA-2A, that could be used for this
purpose.
DATES:

Comments must be received on or before June 20, 1988.

ADDRESSES: Comments should be mailed to William W. Wiles,
Secretary, Board of Governors of the Federal Reserve System,
Washington, DC 20551, or delivered to the courtyard entrance on
20th Street, between C Street and Constitution Avenue, N.W.,
between 8:45 a.m. and 5:15 p.m. weekdays. Comments should
include a reference to Docket No. R-0635. Comments may be
inspected in Room B-1122 between 8:45 a.m. and 5:15 p.m.
weekdays.
FOR FURTHER INFORMATION CONTACT: John C. Wood, Senior Attorney,
or Thomas J. Noto, Staff Attorney, Division of Consumer and
Community Affairs, at 202-452-2412 or 202-452-3667; for the
hearing impaired only, contact Earnestine Hill or Dorothea
Thompson, Telecommunications Device for the Deaf, at
202-452-3544, Board of Governors of the Federal Reserve System,
Washington, DC 20551.
SUPPLEMENTARY INFORMATION: (1) Background. The Board's Regula
tion C (12 CFR Part 203) implements the Home Mortgage Disclosure
Act of 1975 (HMDA) (12 U.S.C. § 2801 et seg.). It requires
depository institutions that have over $10 million in assets, and
have offices in metropolitan statistical areas (MSAs) or primary
metropolitan statistical areas (PMSAs), to disclose annually
their originations and purchases of mortgage and home improvement
loans. Data must be itemized by census tract (or by county, in
some instances) and also by type of loan. A statement covering
the data on a calendar year basis must be made available to the
public and reported to the institution's federal supervisory
agency by March 31 following the calendar year for which the data
are compiled.
When originally passed in 1975, HMDA contained a "sunset"
provision under which the act was to expire in 1980. A number of
temporary extensions were enacted, and recently, in the Housing
and Community Development Act of 1987 (Pub. L. 100-242, § 565,
101 Stat. 1815, 1945), Congress permanently extended HMDA by
striking the sunset provision from the act. The statutory
amendments were signed into law on February 5, 1988.

In addition to the permanent extension, the amendments in
the Housing Act expanded the coverage of HMDA to include mortgage
banking subsidiaries of bank holding companies and savings and
loan holding companies, as well as savings and loan service
corporations. The Board is now proposing amendments to Regula
tion C to implement these changes.
(2) Effective date. With regard to the expanded coverage
of HMDA, there is some uncertainty as to the legislative intent
concerning the year in which service corporations and mortgage
banking subsidiaries are to begin collecting data and reporting.
While it is clear that the amendments brought these institutions
within the coverage of the act in 1987, it is not evident that
Congress intended that they should collect and report data for
that calendar year.
The Board proposes to require that these institutions
collect loan data beginning with calendar year 1988; their first
report would be due on March 31, 1989. This approach is consis
tent with existing Regulation C, which requires institutions that
become subject to the regulation within a given calendar year to
compile loan data beginning with the following calendar year.
(3) Regulatory review. The Board's Regulatory Improvement
Program calls for periodic review of each of the Board's regula
tions to determine whether the regulation can be simplified. The
Board has conducted such a review of Regulation C and has made a
number of changes. The text of the regulation has been revised
to improve clarity and readability. Obsolete provisions have
been deleted, footnotes have been eliminated, and a detailed
appendix regarding state exemptions has been replaced by a brief
reference in the regulation.
In addition, the instructions to
the reporting forms have been significantly reworked and should
be easier to follow.
( 4 ) Availability of aggregated data.
As required by the
Home Mortgage Disclosure Act, the Federal Financial Institutions
Examination Council (with support from the Federal Reserve Board
and the other financial regulators) produces aggregated tables of
the loan data received from all reporting institutions in each
MSA. In addition, the Examination Council produces tables for
each MSA showing lending patterns according to demographic
characteristics (such as income level and age of housing stock).
These tables, together with data on the individual institutions,
are sent to central data depositories in each MSA. The act
specifies that the aggregated data and related tables shall be
available no later than December 31 following the calendar year
to which they relate. Typically, the Examination Council has
released these reports by late November or early December.

The conference report accompanying the HMDA amendments
indicates Congressional interest in having the HMDA data

available at the central data depositories earlier than is now
the case. Member agencies of the Examination Council have
identified and will implement changes to data processing proce
dures in order to facilitate the earlier availability of the
data.
The Board believes the proposed revision of Regulation C
(together with the expanded instructions for the reporting forms)
will enhance compliance on the part of financial institutions.
By reducing errors that require editing following the submission
of reports on March 31, these changes should help ensure that the
aggregated data is available earlier.
(5)
Proposed amendments to Regulation C. The comment period
on the revised regulation ends on June 20, 1988. Because prompt
implementation of the statutory amendments is in the public
interest, the Board has set this comment period in place of the
60 days called for in the Board's policy statement on rulemaking
(44 FR 3957). The Board believes an abbreviated comment period
is necessary to ensure that a final rule is in place as quickly
as possible to provide guidance to newly covered entities.
A discussion follows of the changes made to each section of
the revised regulation.
Section 203.1 —

Authority, purpose, and scope

Several changes would be made. Section 203.1(a) would be
revised to reflect the deletion of section 2811 of the statute,
the sunset date provision. A reference would be added to reflect
the approval of information collection requirements under the
Paperwork Reduction Act by the U. S. Office of Management and
Budget. A reference to the act has been added to the purpose
statement in section 203.1(b). Editorial changes have been made
to section 203.1(c) on scope and section 203.1(d) on central data
depositories (including the substitution of "depositories" for
"repositories," now that the term "depository institution" is no
longer used in the regulation).
Section 203.2 —

Definitions

Section 203.2 contains definitions of terms used in the
regulation. The definitions of "FHA, FmHA, and VA loans" and
"state" contained in current sections 203.2(d) and (g) have not
been revised, but are renumbered as sections 203.2(c) and (i)
because of other changes to the section. The revisions to other
definitions are as follows.
Act.
updated.

The definition of "act" in section 203.2(a) has been

Branch office. The definition of "branch office" in section
203.2(b) would be revised. What qualifies as a branch office has
several consequences for an institution. First, institutions
that do not have a home or branch office in an MSA or PMSA are
exempt from HMDA. Second, HMDA data must be itemized by census
tract for loans on property located in any MSA or PMSA in which
the institution has a home or branch office. For loans on
property located in other MSAs or PMSAs (or not located in an MSA
or PMSA at all), the data may be reported as an aggregate sum,
with no geographic itemization. Third, the data must be made
available to the public at one branch office (or home office) in
each MSA or PMSA where the institution has home or branch
offices. Finally, the institution must post notices, such as
those made available by the Board, in all branch offices located
in MSAs or PMSAs to inform the public of the availability of the
HMDA data.
The revised definition takes account of the difference
between the branch office structure of the newly covered mortgage
banking firms and that of depository institutions such as banks
and thrift institutions. While depository institutions must
obtain approval from federal or state regulatory agencies to
establish branch offices, mortgage banking firms generally are
not required to obtain such approval.
Accordingly, the definition of branch office would differ
for the two classes of institutions. The definition in revised
section 203.2(b)(1)(i ) applies to depository institutions; it
remains the same as in the current provision and is based on the
approval process. For other covered institutions, the Board
proposes to define "branch office" in section 203.2(b)(1)(ii) as
an office that receives applications from the public for home
purchase or home improvement loans. This latter definition could
also apply to mortgage banking subsidiaries of depository insti
tutions, which are independently defined as financial institu
tions under section 203.2(e)(2).
Federally related mortgage loan. Banks and other depository
institutions are subject to HMDA only if they make "federally
related mortgage loans." The definition of that term, currently
in footnote 1, has been simplified and incorporated in the text
of the regulation as section 203.2(d).
Financial institution. The new definition of institutions
covered by Regulation C is set forth in section 203.2(e), and
replaces the definition of "depository institution" currently
contained in section 203.2(c).
The existing term "depository institution" would be changed
to "financial institution." This change is designed to avoid the
confusion that might arise from the fact that, in ordinary usage,
the term depository institution signifies entities such as banks

and thrift institutions, not mortgage banking firms and other
entities that do not take deposits. The definition would be
revised to include both depository institutions and the new class
of covered entities: savings and loan service corporations and
mortgage banking subsidiaries of bank holding companies and
savings and loan holding companies.
As noted above, depository institutions are subject to HMDA
only if they make federally related mortgage loans. The
statutory amendment does not require, as a condition of coverage,
that the newly covered entities make federally related mortgage
loans. The regulatory definition of "financial institution"
would parallel the statute, with the "federally related loan"
limitation applying only to depository institutions.
The new definition also addresses the coverage of industrial
banks.
Industrial banks, which are also known by other terms
such as industrial loan companies or industrial loan and thrift
companies, are not among the types of institutions currently
referred to in the definition of "depository institution." In
recent years, however, industrial banks have taken on many of the
characteristics of commercial and savings banks. Some industrial
banks accept time and savings deposits and offer NOW accounts;
and they often use other types of savings instruments (such as
thrift certificates and investment certificates) that are defined
as deposits by the Depository Institutions Act of 1982 and that
are eligible for FDIC insurance.
Industrial banks may also
become members of the Federal Reserve System. Because of these
similarities, the Board proposes to revise the definition of
"financial institution" to include industrial banks.
The Board also proposes to treat majority-owned subsidiaries
of depository institutions as independent financial institutions
for purposes of the regulation. Doing so would increase their
reporting burden somewhat. Given the revised branch office
definition, these subsidiaries would be required to itemize loan
data for every MSA in which they have an office for taking loan
applications. Treating them as independent entities, however,
would produce a consistent rule for all mortgage banking
subsidiaries, whether the parent is a holding company or a
depository institution. Consequently, the Board proposes to
define any subsidiary of a financial institution as a financial
institution in its own right, in section 203.2(e)(2).
(Under
section 203.4(a), a subsidiary could report on a consolidated
basis with the parent institution or separately.) The Board
requests comment regarding the impact of the increased itemiza
tion, including any additional costs.
Borne improvement and borne purchase loans. The definitions
of "home improvement loan" and "home purchase loan," currently in
sections 203.2(e) and (f), have been clarified and now appear as

sections 203.2(f) and (g). Old footnotes 2 and 3 have been
incorporated into the definition of "home improvement loan."
The parenthetical in the first sentence of existing section
203.2(f), regarding the types of dwellings to which the
definition applies, has been revised to refer only to those types
about which a question might arise. The second sentence, which
expressly excludes from the definition temporary financing and
the purchase of an interest in a pool of mortgage loans (such as
mortgage participation certificates issued by the Federal Home
Loan Mortgage Corporation, the Government National Mortgage
Association, or the Farmers Home Administration) has been
deleted. The exclusion of these particular arrangements now
appears in section 203.4(c), with other excluded categories.
The current and the revised definitions of a home purchase
loan are limited to loans for the purchase of "residential real
property." A home improvement loan, in contrast, is defined in
terms of "residential dwelling," raising questions about
differences in coverage since "dwelling" may include residential
structures such as mobile homes that are not classified as real
property in some states. The Board requests comment on whether,
in the final version of the regulation, dwelling units such as
mobile or manufactured homes should be covered under either the
home improvement or the home purchase loan definition, or both.
Metropolitan statistical area. The term "standard
metropolitan statistical area," which is obsolete, has been
replaced with the term "metropolitan statistical area" (MSA),
defined in section 203.2(h). The meaning is unchanged, and
includes primary metropolitan statistical areas (PMSAs).
Section 203.3 —

Exempt institutions

Section 203.3 excludes from the coverage of the regulation
small institutions, institutions without offices in MSAs, and
those that are subject to a similar state law and have been
granted an exemption from the federal law.
The provisions of this section have been reorganized and the
language clarified; the substantive rules remain unchanged.
Material relating to state law exemptions has been grouped
together in section 203.3(b). A new section 203.3(b)(2) has been
added to indicate that a state or a financial institution may
apply to the Board for an exemption from the regulation based on
the existence of a similar state disclosure law. This reference
replaces the detailed discussion in current Appendix B (which the
Board proposes to delete) about the filing of applications for
state exemptions.

Section 203.4 —

Compilation of loan data

Section 203.4 specifies loan data that is to be included in
or excluded from disclosure statements.
It sets forth the
requirements for itemization of loan data by census tract or
county and by type of loan, and is the basis for the detailed
instructions that accompany the reporting forms contained in the
revised Appendix A.
The provisions of this section have been revised for
clarification. Obsolete material in footnotes 4, 5, 6, and 7 has
been deleted, and information that is still relevant has been
moved to the instructions for the reporting forms.
A provision has been added in section 203.4(a)(2) to permit
mortgage banking subsidiaries of depository institutions to
report either separately or on a consolidated basis with their
parent institution. Currently, they are required to file a
consolidated report under existing section 203.2(c), which
defines "depository institution."
Section 203.4(c) lists types of loan to be excluded from the
disclosures. The first six, listed in paragraph (c)(1), apply
both to depository institutions and to the newly covered
entities. Three of them are the exclusions listed in existing
section 203.4(c). Two of the three others (temporary financing
and the purchase of an interest in a pool of loans) have been
moved into revised section 203.4 from the definition of "home
purchase loan" in existing section 203.2(f).
The sixth exclusion applicable to all institutions is set
forth in section 203.4(c)(1)(vi) and relates to the purchase of
loan servicing rights. The purchase of servicing rights in
secondary market transactions is a practice common among mortgage
bankers. When loans are sold, for example, the buyer may issue
securities backed by a pool of loans that it has acquired. The
right to service the loans, however, may be retained by the
seller/originator of the mortgages. These servicing rights may
later be transferred from one institution to another for a
purchase price that is usually a small percentage (such as 1 or 2
percent) of the value of the underlying loans.
The act and regulation require institutions to report data
on mortgage loans that they purchase. The Board believes that a
covered institution's purchase of these servicing rights does not
accurately reflect the extent to which an institution has made
mortgage credit available in a community. Accordingly, the
revised regulation would exclude from the reporting requirement
the purchase of servicing rights to mortgage loans.
The final exclusion, contained in section 203.4(c)(2),
applies only in the case of mortgage banking subsidiaries and
savings and loan service corporations. That section excludes

from the reporting requirement loans that are insured under Title
I or II of the National Housing Act (that is, FHA-insured home
improvement and home purchase loans); it implements new section
304(g) of HMDA, which expressly provides for their exclusion.
(Under section 311 of HMDA, data on FHA-insured loans made by
these types of lenders is to be collected by the U.S. Department
of Housing and Urban Development.) As discussed under Appendix
A, the Board proposes to provide an optional form that could be
used by these institutions to disclose their FHA lending
activity.
Section 203.5 -- Disclosure and reporting requirements
Section 203.5 relates to making loan data available at
offices of an institution and reporting the data to supervisory
agencies. Changes, none of them substantive, have been made to
the language and structure of this section to clarify its
requirements. As under the existing provisions, disclosure
statements for a given calendar year are due by the following
March 31.
Section 203.6— Administrative enforcement; sanctions for
violations
Section 203.6 sets forth rules relating to administrative
enforcement. Minor changes to the language and structure of this
section have been made to clarify its provisions.
Appendix A -- Forms and instructions
Appendix A of the current regulation, which lists super
visory agencies, has been designated as Appendix B in the revised
regulation; and the current Appendix C, containing the mortgage
disclosure forms, is now Appendix A.
The revised Appendix A contains two reporting forms and
accompanying instructions, plus an optional form. Institutions
must use the prescribed format of the appropriate form, either
HMDA-1 or new HMDA-2, but they are not required to use the form
itself. An institution may, for example, choose to produce a
computer printout of its disclosure statement instead.
The HMDA-1 reporting form continues to be the prescribed
form for use by depository institutions and their majority-owned
subsidiaries. The instructions for completing the form have been
expanded significantly to facilitate compliance, but the form
itself remains basically unchanged except for minor revisions
that do not affect the data compilation. Column headings have
been changed to read "total dollar amount" instead of "principal
amount," but the data to be reported in these columns remains the
same. Accordingly, institutions will not have to make changes in
their data processing procedures. A signature line has been

added, calling for an officer of the reporting institution to
certify the accuracy of the report.
A new form HMDA-2 and accompanying instructions have been
added for use by the newly covered institutions. This additional
form is intended to avoid confusion since these institutions will
not report FHA loans. The Board proposes to provide an optional
form, HMDA-2A, that may be used by mortgage banking subsidiaries
and service corporations that wish to maintain a public record of
their FHA lending activity. Use of the form would be entirely
optional; it would not be submitted to supervisory agencies, but
instead could be made available to the public at the
institution's own offices along with the required HMDA data.
Appendix B -- Federal supervisory agencies
Appendix B of the current regulation contains detailed
material relating to applications for state exemptions. The
Board proposes deleting it to simplify the regulation.
In its
place, a reference to the availability of state exemptions has
been added to section 203.3.
Current Appendix A, which lists enforcement agencies, has
been designated as Appendix B. The Board proposes to amend the
appendix by adding provisions to specify that mortgage banking
subsidiaries of bank holding companies shall submit HMDA reports
to the Federal Reserve System, and that savings and loan service
corporations and mortgage banking subsidiaries of savings and
loan holding companies shall submit them to the Federal Home Loan
Bank System. This reporting arrangement is appropriate in view
of the Federal Reserve's general supervisory responsibility for
non-bank subsidiaries of bank holding companies. The same is
true, for savings and loan service corporations and mortgage
banking subsidiaries of savings and loan holding companies, as to
the Federal Home Loan Bank System. Absent such specification,
the supervisory agency for all of the newly covered institutions
would be the Federal Deposit Insurance Corporation.
In addition, the revised appendix differentiates between
federal and state savings banks, to reflect that state savings
banks are under the FDIC's jurisdiction and federal savings banks
under the FHLBB's jurisdiction.
(6)
Economic impact statement. The Board's Division of
Research and Statistics has prepared an economic impact statement
on the proposed revisions to Regulation C. A copy of the
analysis may be obtained from Publications Services, Board of
Governors of the Federal Reserve System, Washington, DC 20551, at
202-452-3245.

List of Subjects in 12 CFR Part 203
Banks, Banking, Consumer protection, Federal Reserve System,
Home Mortgage Disclosure, Mortgages, Reporting and recordkeeping
requirements.
(7)
Text of proposed revisions. Pursuant to the Board's
authority under section 305(a) of the Home Mortgage Disclosure
Act (12 U.S.C. 2804(a)), the Board proposes to amend 12 CFR Part
203 as follows:
1. The authority citation for Part 203 is revised to read as
follows:
AUTHORITY: Home Mortgage Disclosure Act of 1975, as
amended, Title III, Pub. L. 94-200, 89 Stat. 1125, et seg. (12
U.S.C. 2801-2810).
2.

Part 203 is revised to read as follows:

PART 203 -- HOME MORTGAGE DISCLOSURE
Section
Section
Section
Section
Section
Section

203.1
203.2
203.3
203.4
203.5
203.6

Appendix A
Appendix B
SECTION 203.1 —

Authority, purpose, and scope.
Definitions.
Exempt institutions.
Compilation of loan data.
Disclosure and reporting requirements.
Administrative enforcement; sanctions for
violations.
Forms and instructions.
Federal supervisory agencies.

Authority, purpose, and scope.

(a) Authority. This regulation is issued by the Board of
Governors of the Federal Reserve System ("Board") pursuant to the
Home Mortgage Disclosure Act of 1975, as amended (12 U.S.C. 2801
et seg.). The information collection requirements have been
approved by the U.S. Office of Management and Budget under 44
U.S.C. 3501 et seg. and have been assigned 0MB No. 7100-0090.
(b) Purpose.
(1) This regulation carries out the purposes of
the Home Mortgage Disclosure Act, which is intended to provide
the public with loan data that can be used:
(i)
to help determine whether financial institutions are
serving the housing needs of their communities; and
(ii) to assist public officials in distributing public
sector investments so as to attract private investment to areas
where it is needed.

(2) Neither the act nor this regulation is intended to
encourage unsound lending practices or the allocation of credit.
(c) Scope. This regulation requires financial institutions,
as defined in section 203.2(e), to disclose loan data at certain
of their offices, and to report the data to supervisory agencies.
(d) Central data depositories. Loan data is available to the
public at central data depositories located in each metropolitan
statistical area. The Federal Financial Institutions Examination
Council aggregates loan data for all institutions in each
metropolitan statistical area, showing lending patterns by
location, age of housing stock, income level, and racial
characteristics. A listing of central data depositories can be
obtained from the U.S. Department of Housing and Urban Develop
ment, Washington, D.C. 20410, or from any of the agencies listed
in Appendix B.
SECTION 203.2 —

Definitions.

In this regulation:
( a ) Act means the Home Mortgage Disclosure Act (12 U.S.C. 2801
et seg.).

(b) Branch office means: (l)(i) any office of a financial
institution that is approved as a branch by a federal or state
supervisory agency; or
(ii) for a financial institution not required to obtain
approval for a branch office, any office that takes applications
from the public for home purchase or home improvement loans.
(2) The term excludes free-standing automated teller machines
and other electronic terminals.
(c) Federal Housing Authority (FHA), Farmers Home Adminis
tration (FmHA), or Veterans Administration (VA) loans means
mortgage loans insured under Title II of the National Housing Act
or Title V of the Housing Act of 1949 or guaranteed under Chapter
37 of Title 38 of the United States Code.
(d) Federally related mortgage loan means any loan (other than
temporary financing such as a construction loan) secured by a
first lien on a l-to-4 family dwelling (including a condominium
or a cooperative unit) that:
(1) is made by a federally insured or regulated institution;
(2) is insured, guaranteed, or supplemented by any federal
agency; or

(3)
will be sold to the Federal National Mortgage Association,
the Government National Mortgage Association, or the Federal Home
Loan Mortgage Corporation.
(e) Financial institution means: (l)(i) a commercial bank,
savings bank, savings and loan association, building and loan
association, homestead association (including a cooperative
bank), industrial bank, or credit union that makes federally
related mortgage loans;
(ii) a savings and loan service corporation that originates
or purchases mortgage loans, a mortgage banking subsidiary of a
savings and loan holding company, or a mortgage banking
subsidiary of a bank holding company; or
(2) a majority-owned subsidiary of any financial institution.
(f) Home improvement loan means: (1) any loan, including a
refinancing, that:
(i) is stated by the borrower (at the time of the loan
application) to be for the purpose of repairing, rehabilitating,
or remodeling a residential dwelling located in a state; and
(ii) is classified by the financial institution as a home
improvement loan.
(2)
In the case of a first-lien home improvement loan, an
institution may categorize the loan as a home purchase loan if it
normally classifies first-lien loans in this manner.
(g) Home purchase loan means any loan, including a
refinancing, secured by and made for the purpose of purchasing
residential real property (including condominiums or
cooperatives) located in a state.
(h) Metropolitan statistical area or MSA means either a
metropolitan statistical area or a primary metropolitan statistical
area, as defined by the U.S. Office of Management and Budget.
(i) State means any state of the United States of America, the
District of Columbia, and the Commonwealth of Puerto Rico.
SECTION 203.3 —

Exempt institutions.

(a)
Exemption based on asset size or location. (1) A
financial institution is exempt from all requirements of this
regulation if on the preceding December 31:
(i) its total assets are $10,000,000 or less; or
(ii) it has neither a home nor a branch office in an MSA.

(2) An institution that subsequently becomes subject to this
regulation shall compile loan data beginning with the calendar
year following the year in which it becomes subject to the
regulation.
(b)
Exemption based on state law. (1) A state-chartered
financial institution is exempt from the requirements of this
regulation if the Board determines that the institution is
subject to a state disclosure law that contains requirements
substantially similar to those imposed by this regulation and
contains adequate provisions for enforcement.
(2) Any state, state-chartered institution, or association of
such institutions may apply to the Board for an exemption under
this paragraph.
(3) For purposes of data aggregation, an institution that is
exempt under this paragraph shall submit the data required by the
state disclosure law to its state supervisory agency.
(4) An institution that subsequently loses its state law
exemption shall compile loan data in compliance with this
regulation beginning with the calendar year following the year
for which it last reported loan data under the state disclosure
law.
SECTION 203.4 —

Compilation of loan data.

(a) Data to be included.
(1) A financial institution shall
compile data on the number and total dollar amount of home
purchase and home improvement loans that it originates or
purchases at any time during the calendar year, whether or not
the loans are subsequently sold. It shall compile the data in
the format prescribed in Appendix A of this regulation.
(2)
A financial institution defined in section 203.2(e)(2) may
report data either on a consolidated basis with its parent
institution or as a separate entity.
(b) Itemization of data. A financial institution shall set
forth the loan data separately for originations and purchases,
and shall itemize the data by census tract or county and by type
of loan, as prescribed below. It shall use the MSA boundaries,
defined by the U.S. Office of Management and Budget, as of
January 1 of the calendar year for which the data are compiled,
and shall use the census tract maps in the most recent census
tract series prepared by the U.S. Bureau of the Census.
(1)
Geographic itemization.
(i) For each MSA in which the
institution has a home or branch office, the institution shall
itemize the loan data for the MSA by the census tract in which

the property purchased or improved is located, except that it
shall instead itemize by county if the property is located in an
area that has not been assigned census tracts or is located in a
county with a population of 30,000 or less. If a census tract
number is duplicated within an MSA, the institution shall also
identify the tract by county, city, or town name.
(ii)
The institution shall list the loan data as an
aggregate sum for property located outside an MSA, or located in
an MSA where the institution has neither a home nor a branch
office.
(2)
Type-of-loan itemization. The financial institution shall
further itemize the loan data within each geographic area by loan
category as follows:
(i) FHA, FmHA, and VA home purchase loans on l-to-4 family
dwellings (subject to paragraph (c)(2) of this section);
(ii) Conventional home purchase loans on l-to-4 family
dwellings;
(iii) Home improvement loans on l-to-4 family dwellings;
(iv) Loans on dwellings for 5 or more families (including
both home purchase and home improvement loans); and
(v) Loans, reported in the l-to-4 family categories, that
are made to non-occupant borrowers, but only for loans that are
itemized by census tract or county.
(c) Data to be excluded. (1) A financial institution shall
exclude from its compilation of loan data:
<i) loans originated or purchased by the financial
institution acting in a fiduciary capacity (such as trustee);
(ii) loans on unimproved land;
(iii) refinancings in which there is no increase in the
outstanding principal, if the institution and the borrower are
the same parties on the loan being refinanced as on the existing
loan;
(iv) temporary financing (such as bridge or construction
loans);
(v) the purchase of an interest in a pool of mortgage loans
(such as mortgage participation certificates); or
(vi) purchases solely of the right to service loans.

(2)
A financial institution defined in section 203.2(e )(1)(ii)
shall exclude FHA loans insured under Title I or II of the
National Housing Act from its compilation of loan data.
SECTION 203.5 —

Disclosure and reporting requirements.

(a) Time requirements for disclosure statement. By March 31
following the calendar year for which the data are compiled,
a financial institution shall:
(1) make its loan data disclosure statement available to the
public, and shall continue to make it available for five years
from that date; and
(2) send two copies of its statement to the agency specified
in Appendix B of this regulation.
(b) Availability to the public.
(1) A financial institution
shall make a complete disclosure statement available at its home
office; and
(2) if it has branch offices in other MSAs, shall make a
statement available in at least one branch office in each of
those MSAs; the statement at a branch office need only contain
data relating to property located in the MSA where the branch
office is located.
(3) A financial institution shall make its disclosure
statement available for inspection or copying during the hours
the office is normally open to the public for business. A
financial institution that provides photocopying facilities may
impose a reasonable charge for this service.
(c) Notice of availability. A financial institution shall
post a general notice about the availability of its disclosure
statement in the lobbies of its home office and any of its branch
offices that are located in MSAs. Upon request, it shall
promptly provide the location of the institution's offices where
the disclosure statement is available.
SECTION 203.6 —
violations.

Administrative enforcement; sanctions for

(a) Administrative enforcement. Compliance with the act and
this regulation is enforced by the agencies listed in Appendix B
of this regulation.
(b) Sanctions for violations. (1) A violation of the act or
this regulation is subject to administrative sanctions as
provided in section 305(c) of the act.

(2)
An error in compiling or disclosing loan data is not a
violation of the act or this regulation if the error was uninten
tional and resulted from a bona fide mistake despite the
maintenance of procedures reasonably adapted to avoid such an
error.

APPENDIX A - FORMS AND INSTRUCTIONS
INSTRUCTIONS TO DEPOSITORY INSTITUTIONS AND THEIR SUBSIDIARIES
FOR COMPLETING FORM HMDA-1. "MORTGAGE LOAN DISCLOSURE STATEMENT"
Who Must Use This Form
1.

A depository institution (and any majority-owned subsidiary
of a depository institution) must complete this HMDA-1 form
to disclose loan data for the current calendar year if on
the preceding December 31 it:
a. had assets of more than $10 million, and
b. was located in a metropolitan statistical area (MSA)
or a primary metropolitan statistical area (PMSA).

Example:
If on December 31,
1987, your assets exceeded
$10 million, you must compile data for all home purchase and
home improvement loans that you originate or purchase during
calendar year 1988.

Your institution need not complete this form -- even though
it meets the tests on asset size and location -- if it makes
no first-lien mortgage loans on l-to-4 family dwellings
during the current calendar year (the year for which the
data are compiled).

A subsidiary of a depository institution may file a consoli
dated report with its parent
or may file a separate report.
(See "Consolidated Reporting" below.)

You must use the format of the HMDA-1 form, but you are not
required to use the form itself. For example, you may produce a
computer printout of your disclosure statement instead.
Who Must Use Other Forms
1.

Mortgage banking subsidiaries of bank holding companies or
savings and loan holding companies and savings and loan
service corporations must use the form HMDA-2, instead of
the HMDA-1.

Institutions exempted by the Federal Reserve Board because
they are covered by a similar state law on mortgage loan
disclosures must use the disclosure form required by their
state law.

When and Where Statement is Due
1.

You must send two copies of your disclosure statement to
the regional office of your federal supervisory agency no
later than March 31 following the calendar year for which
the loan data are compiled.
You also must make your disclosure statement available no
later than March 31 for inspection by the public at your
home office and, if you have branches in other MSAs, at one
branch in each of these MSAs.

Data to Be Shown
1.

Show the data on home purchase and home improvement loans
that you originated or purchased during the calendar year
covered by the statement. Show the data on originations and
purchases even if the loans were subsequently sold.

Show the number of loans and the total dollar amount of
loans for each category on the statement. For home purchase
loans that you originate, "total dollar amount" means the
original principal amount of the loan. For home purchase
loans that you purchase', "total dollar amount" means the
unpaid principal balance of the loan at time of purchase.
For home improvement loans (both originations and
purchases), you may include unpaid finance charges in "total
dollar amount."

Round all dollar amounts to the nearest thousand ($500
should be rounded up), and show in terms of thousands.

Report data in Part A for loans originated and in Part B for
loans purchased. Complete both parts even if you have no
loans to report in one of the two parts.

Data to Be Excluded
Do not report the following types of loans:
1.

loans that, although secured by real estate, are made for
purposes other than for home purchase or home improvement
(for example, do not report a loan secured by residential
real property for purposes of financing education, a
vacation, or business operations);

loans made or purchased in a fiduciary capacity (for
example, by your trust department);

loans on unimproved land;

refinancings of loans you originated if they involve no

increase in the outstanding principal (provided the
borrowers remain the same);
5.

construction loans and other temporary financing;

purchase of an interest in a pool of mortgage loans such
as mortgage participation certificates; or

purchases solely of the right to service loans.

Geographic Itemization (Breakdown of loan data for each MSA or
PMSA by census tract or county and of loan data in the
outside-MSA/PMSA category).
1.

MSA/PMSA. Use a separate page for compiling loan data on
each MSA or PMSA in which you have a home or branch office.
(See item 6 below for treatment of loans on property outside
such MSAs/PMSAs). You must use the MSA/PMSA boundaries as
defined by the U.S. Office of Management and Budget on
January 1 of the calendar year for which the loan data are
compiled.

Census tract or county. For loans on property that is
located within one of these MSAs or PMSAs, itemize the data
by the census tract in which the property is located, except
that you must itemize the data by county instead of census
tract when the property is located:
a.

in an area that is not divided into census tracts on
the U. S. Census Bureau's census tract outline maps
(see item 4 below); or

in a county with a population of 30,000 or less.

To determine population, use the Census Bureau's PC80-1-A
population series.
3.

Compilation. Enter the data for all loans made in a given
census tract on the same line, listing the number and total
dollar amount in the appropriate columns as described in the
instructions for "type-of-loan itemization" below. List the
census tracts in numerical sequence. Do the same for loans
made in a given county.

Census tract maps. To determine census tract numbers,
consult the U. S. Census Bureau's census tract outline maps.
You may use the maps of the appropriate MSAs/PMSAs in the
Census Bureau's PHC80-2 series for the 1980 census, or use
equivalent census data from the Census Bureau (such as
GBF/DIME files) or from a private publisher.

Duplicate census tract numbers. If you have a home or
branch office in the New York City PMSA, note that there are
duplicate census tract numbers in New York City. There may
also be duplicate numbers in other MSAs or PMSAs. When
reporting loan data in these cases, you must indicate the
county, city, or town name in addition to the tract number.

Outside-MSA/PMSA. If the loans are for property that is
located outside those MSAs or PMSAs in which you have a home
or branch office (or outside any MSA or PMSA), report the
loan data as an aggregate sum in Section 2 of the form. You
do not have to itemize these loans by census tract or county
(but you will have to itemize the data by type of loan, as
described in the next section).

Type-of-Loan Itemization (Breakdown of each geographic grouping
into loan categories — Columns A-E).
Column A: FHA,, FmHA, and VA loans on l-to-4 family dwellings.
1.

Report in Column A loans made for the purpose of purchasing
residential real property for l-to-4 families if the loans
are secured by either first or junior liens and if they are
insured or guaranteed by FHA, FmHA, or VA. Include
refinancings (but see item 4 under "Data to be Excluded").

Do not include any FHA Title I (home improvement) loans
Column A; these loans are to be entered in Column C.

At your option, you may report in Column A any FHA, FmHA, or
VA loans that are made for home improvement purposes but are
secured by a first lien, if you normally classify first-lien
loans as purchase loans.

Column B: Conventional home purchase loans on l-to-4 family
dwellings.
1.

Report in Column B conventional loans (all loans other than
FHA, FmHA, and VA loans) made for the purpose of purchasing
residential real property for l-to-4 families if the loans
are secured by either first or junior liens. Include
refinancings (but see item 4 under "Data to be Excluded").

At your option, you may report in this column any
conventional loans that are made for home improvement
purposes but that are secured by a first lien, if you
normally classify first-lien loans as purchase loans.

Column C:
1.

Home improvement loans on l-to-4 family dwellings.

Report in Column C only loans, including refinancings, that:
a.

are to be used for repairing, rehabilitating, or
remodeling residential dwellings, and

are recorded on your books as home improvement loans.

Include home equity loans or lines of credit in Column
only if they meet these two tests. Show the amount as
recorded on your books.

Include both secured and unsecured loans.

You may include unpaid finance charges in the "total dollar
amount."

Column D:

Loans on multi-family dwellings (5 or more families).

Report in Column D loans on dwellings for 5 or more
families.

Include loans for home purchase and loans for home
improvement in the same column.

Column E:

Non-occupant loans on l-to-4 family dwellings.

Report in Column E any home purchase and home improvement
loans on l-to-4 family dwellings (listed in columns A, B,
and C) that were made to borrowers who indicated at the time
of the loan application that they did not intend to use the
property as a principal dwelling.

Do not complete Column E for loans that you report under
Section 2 (Loans on All Property Located Elsewhere), in
either Part A (Originations) or Part B (Purchases).

In completing Part B, you may assume that a loan purchase
does not fall within this non-occupant category, unless your
records contain information to the contrary.

Consolidated Reporting
1.

If you are the subsidiary of a depository institution, you
may merge your loan data into a joint report with your
parent or prepare a separate report.

Whether you prepare a joint or a separate report, you must
give the
geographic breakdown for loans on property within
MSAs or PMSAs based on the location of the offices at which
you take loan applications from the public, rather than
based on where your parent has home or branch offices.

Example:
If your parent has branches in the New York City
PMSA but all your loan offices are in Philadelphia, you will
itemize data by census tract (or county) only for the
Philadelphia PMSA. You will show loan data as an aggregate
sum for loans on property located outside the Philadelphia
MSA -- even if the property is in New York City.

MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA-1
FOR USE BY: • DEPOSITORY INSTITUTIONS
• SUBSIDIARIES OF DEPOSITORY INSTITUTIONS
Part A— Originations

OMB No 710-0090
Approval expires Ju n e 1990
This report Is required by law (12
USC 2801 2810 and 12 CFR 203)

Control Number (agency use only)

Report for loans m ade in 19___

Reporting Institution

1 1 1 I I I I I I I I I I I LJ

Enforcement Agency for this Institution

MSA/PMSA (location of property)

Section 1—Loam on Property Located within those MSAs/PMSAs In which Inatltutlon haa Homo or Branch Offices
Loens on l-to-4 Fam ily Dwellings

FHA, FmHA. a n d VA

C onventional

Hom e Improvement Loens

Loans on Multi-family Dwellings for
5 or More Fam lllee
(hom e p u rch a a e s end
h o m e Improvement)

H om e P u rc h e s e Loens
CENSUS TRACT (In num erical seq u en ce)
W here Properly L ocated

Non occupant Loana
on 1 to 4 Family Dwellings
from colum ns A. B and C
E

or
COUNTY (nam e) W here Property L ocated

No of
Loans

Total Dollar Amount
(thoueande)

No. of
Loana

Total Doiler Amount
(Ihousanda)

No. of
Loens

Total Dollar Amount
(thousands)

No of
Loens

Total Dollar Amount
(th o u sands)

No of
Loans

Total Dollar Amoun
(thousands)

---------MSA/PMSA TOTAL
Section 2—Loans on All Property Located Elsewhere

Nam e ol Certifying Officer

N am e of P erso n C om pleting Form

Telephone Number (Include Area Code and Extension)

MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA-1
FOR USE BY: • DEPOSITORY INSTITUTIONS
• SUBSIDIARIES OF DEPOSITORY INSTITUTIONS

Page 2

Part B— Purchases

Report for loans made in 19

LI
Reporting Institution

Enforcement Agency for this Institution

_controlNumber(agency

I I I I.. I I

I I I I I I

MSA/PMSA (location o f property)

Address

Section 1—Loan* on Properly Located within thoaa MSAs/PMSAs In which Institution has Home or Branch O ffice*
L o an s on l-to-4 Family Dwellings
H om e P u rc h ase Loans
CENSUS TRACT (In num erical seq u en ce)
W here Property L ocated

FHA. FmHA, a n d VA

C onventional

Hom e Improvement Loans

Loans on Multi family Dwellings for
5 or More Fam ilies
(hom e p u rc h a s e s and
h o m e Improvement)

N o n o c c u p a n t Loans
o n t-to-4 Family Dwellings
from colum ns A. B and C

or
COUNTY (name) W here Properly Located

No of
Loans

Total Dollar Amount
(th o u sands)

No of
Loans

Total Dollar Amount
(thou san d s)

No of
Loans

Total Dollar Amount
(Ihousanda)

No of
Loans

Total Dollar Amount
(th o u ssn d s)

No Of
Loans

MSA/PMSA TOTAL
Section 2—Loan* on All Proparty Located Elsewhere

Nam* of Certifying Officer

N sm s of P arson C om pleting Form

Telephone Num ber (Include Area C ode a n d Extension)

Total Dollar Amount
(thousands)

use omy)

INSTRUCTIONS TO MORTGAGE BANKING SUBSIDIARIES OF HOLDING
COMPANIES" AND TO SAVINGS AND LOANS SERVICE CORPORATIONS
FOR COMPLETING FORM HMDA-2. "MORTGAGE LOAN DISCLOSURE STATEMENT"
Who Must Use This Form
1.

Mortgage banking subsidiaries of bank holding companies and
of savings and loan holding companies, and savings and loan
service corporations that originate or purchase mortgage
loans, must complete this HMDA-2 form to disclose loan data
for the current calendar year if on the preceding December
31 they:
a. had assets of more than $10 million,
b. were located in a metropolitan statistical area (MSA) or
a primary metropolitan statistical area (PMSA).

Example: If on December 31, 1987, your assets exceeded
$10 million, you must compile data for all home purchase and
home improvement loans that you originate or purchase during
calendar year 1988.

You must use the format of the HMDA-2 form, but you are not
required to use the form itself. For example, you may produce a
computer printout of your disclosure statement instead.
Who Must Use Other Forms
1.

Depository institutions and their subsidiaries must use the
form HMDA-1, instead of the HMDA-2.

Institutions exempted by the Federal Reserve Board because
they are covered by a similar state law on mortgage loan
disclosures must use the disclosure form required by their
state law.

When and Where Statement is Due
1.

You also must make your
later than March 31 for
home office and, if you
branch in each of these

disclosure statement available no
inspection by the public at your
have branches in other MSAs, at one
MSAs.

Data to Be Shown
1.

Show the data on home purchase and home improvement loans
that you originated or purchased during the calendar year
covered by the statement. Show the data on loan origina
tions and purchases even if the loans were subsequently
sold.

Show both the number of loans and the total dollar amount of
loans for each category on the statement. For home purchase
loans that you originate, "total dollar amount" means the
original principal amount of the loan. For home purchase
loans that you purchase, "total dollar amount" means the
unpaid principal balance of the loan at time of purchase.
For home improvement loans (both originations and
purchases), you may include unpaid finance charges in "total
do11ar amount."

Round all dollar amounts to the nearest thousand ($500
should be rounded up), and show in terms of thousands.

Report data in Part A for loans originated and in Part B for
loans purchased. Complete both parts even if you have no
loans to report in one of the two parts.

Data to Be Excluded
Do not report the following types of loans:
1.

loans that, although secured by real estate, are made
for purposes other than for home purchase or home
improvement (for example, do not report a loan secured by
residential real property for purposes of financing educa
tion, a vacation, or business operations);

loans made or purchased in a fiduciary capacity;

loans on unimproved land;

refinancings of loans you originated if they involve no
increase in the outstanding principal (provided the
borrowers remain the same);

construction loans and other temporary financing;

purchase of an interest in a pool of mortgage loans such
as mortgage participation certificates;

purchases solely of the right to service loans; or

FHA home purchase and home improvement loans. At your
option, you may record FHA Loans on the form HMDA-2A,
"Optional Record for FHA Loans.”

Geographic Itemization (Breakdown of loan data for each MSA or
PMSA by census tract or county and of loan data in the
outside-MSA/PMSA category).
1.

in an area that is not divided into census tracts on
the U. S. Census Bureau's census tract outline maps
(see item 4 below); or

in a county with a population of 30,000 or less.

To determine population, use the Census Bureau's PC80-1-A
population series.
3.

Outside-MSA/PMSA. If the loans are for property that is
located outside those MSAs or PMSAs in which you have a home

or branch office (or outside any
loan data as an aggregate sum in
do not have to itemize the loans
but you will have to itemize the
described in the next section.

MSA or PMSA), report the
Section 2 of the form. You
by census tract or county;
data by type of loan, as

Type-of-Loan Itemization (Breakdown of each geographic grouping
into loan categories — Columns A-E).
Column A: FmHA and VA loans on l-to-4 family dwellings.
1.

Report in Column A loans made for the purpose of purchasing
residential real property for l-to-4 families if the loans
are secured by either first or junior liens and if they have
FmHA or VA insurance or guarantee. Include refinancings (but
see item 4 under "Data to be Excluded").

At your option, you may report in Column A any FmHA or VA
loans that are made for home improvement purposes but are
secured by a first lien, if you normally classify first-lien
loans as purchase loans.

Do not report FHA loans in Column A. At your option, you
may record FHA loans on the form HMDA-2A, "Optional Record
of FHA Loans."

Column B:

Conventional home purchase loans on l-to-4 family

dwellings.
1.

Report in Column B conventional loans (all loans other than
FmHA and VA loans) made for the purpose of purchasing
residential real property for 1 to 4 families if the loans
are secured by either first or junior liens. Include
refinancings (but see item 4 under "Data to be Excluded").

At your option, you may report in this column any
conventional loans that are made for home improvement
purposes but are secured by a first lien, if you normally
classify first-lien loans as purchase loans.

Column C:
1.

Report in Column C only loans, including refinancings, that
a. are to be used for repairing, rehabilitating, or
remodeling residential dwellings, and
b.

Home improvement loans on l-to-4 family dwellings.

are recorded on your books as home improvement loans.

Include home equity loans or lines of credit in Column C
only if they meet these two tests. Show the amount as
recorded on your books.

Include both secured and unsecured loans.

You may include unpaid finance charges in the
amount."

Do not report FHA loans in Column C. At your
option, you
may report FHA loans on the form HMDA-2A, "Optional Record
of FHA Loans."

Column D:

"total dollar

Loans on multi-family dwellings (5 or more families).

Report in Column D all loans on dwellings for
5 or more
families, including both loans for home purchase and loans
for home improvement.

Do not report FHA loans in Column D. At your
option, you
may report FHA loans on the form HMDA-2A, "Optional Record
of FHA Loans."

Column E:

Non-occupant loans on l-to-4 family dwellings.

Do not complete Column E for loans that you report under
Section 2 (Loans on All Property Located Elsewhere), in
either Part A (Originations) or Part B (Purchases).

In completing Part B, you may assume that a loan purchase
does not fall within this non-occupant category, unless your
records contain information to the contrary.

MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA-2
FOR USE BY: • MORTGAGE BANKING SUBSIDIARIES OF HOLDING COMPANIES
• SAVINGS AND LOAN SERVICE CORPORATIONS
Part A—Originations
Report for loans made in 19___

................. ........ ...... .
OMB No
Approval ex pires __ __________
This report Is required by law (12
USC 2801 2810 a n d 12 CFR 203)

Control Number (agency use only)

I I I I I I I LI JI - L L J

Enforcement Agency for this Institution

Reporting Institution

L J I..J

MSA/PMSA (location of property)

Address

Name of Parent Company

Section 1—Loans on Property Located within those MSAs/PMSAs In which Institution has Home or Branch Offices
Loana o n 1-to-4 Family Dwellings

FmHA a n d VA

C onventional

Home Improvement Loans

Loan s on Multi-family Dweillnga for
5 or Mora Fam lllee
(hom e pu rch a a e a and
h o m e Improvement)

H om e P u rc h aa e Loana
CENSUS TRACT (In num erical sequence)
W here Property L ocated

Non o cc u p a n t lo a n s
on 1 to 4 Family Dwellings
from colu m n s A. B and C
E

or
COUNTY (name) W here Property L ocated

No of
Loans

Total Dollar Amount
(th o u sands)

No. O f
Loans

Total Dollar Amount
(thouaande)

NO Of
Loans

Total Dollar Amount
(thousan d s)

No of
Loans

Total Dollar Amount
(thoussnds)

No of
Loans

Totsl Dollar Amount
(thousands)

—

MSA/PMSA TOTAL
Section 2—Loans on All Property Located Elsewhere

Nam e ol Certifying Officer

Nam e of P erso n Com pleting Form

Telephone Number (Include Area Code a n d Extension)

— ------------- --------------

MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA 2
FOR USE BY: • MORTGAGE BANKING SUBSIDIARIES OF HOLDING COMPANIES
• SAVINGS AND LOAN SERVICE CORPORATIONS
Part B— Purchases
Report for loans made In 19___
Reporting institution

Enforcement Agency for this Institution

P»ge ?

Control Number (agency use only)

I_ L 1 _ L L.J_I . I J I I I
MSA/PMSA (location of property)

Add* ess
Name of Parent Company

Section 1—Loans on Property Located arittiln those MSAs/PMSAs In wtilch Institution has Homo or Branch Offices

Name of Certifying Office*

N am e of Per eon C om pleting Form

Telephone Number (Include Aree Code and E«tenek>n)

J I

INSTRUCTIONS TO MORTGAGE BANKING SUBSIDIARIES OF HOLDING
COMPANIES AND TO SAVINGS AND LOAN SERVICE CORPORATIONS FOR
COMPLETING FORM HMDA-2A. "OPTIONAL RECORD OF FHA LOANS"
Who May Use This Form
Mortgage banking subsidiaries of bank or saving and loan
holding companies are not required to report data on FHA
Title I (home improvement) or FHA Title II (home purchase)
loans. At their option, however, they may record FHA loans
on form HMDA-2A and make the form available to the public
along with their HMDA-2 disclosure statement.
Data to be Shown
1.

For loans that you originate, see the instructions that are
provided for the form HMDA-2 under "Geographic Itemization."
Report the number and total dollar amount of FHA home
purchase "loans in Column 1 and FHA home improvement loans in
Column 2. Include loans on both l-to-4 family dwellings and
multi-family dwellings.

For loans that you purchase, see the instructions that are
provided for the form HMDA-2 under "Geographic Itemization."
Report the number and total dollar amount of FHA home
purchase loans in Column 3 and FHA home improvement loans in
Column 4. Include loans on both l-to-4 family dwellings and
multi-family dwellings.

OPTIONAL MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA-2A
FOR USE BY: . MORTGAGE BANKING SUBSIDIARIES OF HOLDING COMPANIES
. SAVINGS AND LOAN SERVICE CORPORATIONS
Record o f FHA lo a n s made in 19__
In stitu tio n

Enforcement Agency f o r t h i s I n s t i t u t i o n

MSA'PMSA (L o c a tio n o f

Uliie

Nine

fiiiie

Address

Number

p r o p e r ty )

Name o f l ’arent Company
Section 1 — Loans on Property Located within those MSAs/PMSAs in which Institution has Home or Branch Offices

FHA Loans Originated

FHA Loans Purchased

CENSUS TRACT (in numerical sequence)
Where Property Located
or
COUNTY (nane) Where Property Located

MSA/PMSA Total
Section 2 — Loans on All Property Located Elsewhere

f ////////////////////////////////////77/7///////////////|

Hone Purchase
Loans

Hone Improvement
Loans

Bone Purchase
Loans

Home Improvement
Loans

It of Total Dollar tt of Total Dollar tt of Total Dollar tt of Total Dollar
Loans
Amount
Loans
Amount
Loans
Amount
Loans
Amount

APPENDIX B —

FEDERAL SUPERVISORY AGENCIES

The following list indicates the federal agency responsible
for compliance by classes of institutions. Questions should be
directed to the appropriate agency.
National Banks
Comptroller of the Currency
Office of Customer and Community Programs
Washington, D.C. 20219
State Member Banks and Mortgage Banking Subsidiaries of Bank
Holding Companies
Federal Reserve Bank serving the district in which the state
member bank or mortgage banking subsidiary is located.
Nonmember Insured Banks (except for Federal Savings Banks)
Federal Deposit Insurance Corporation Regional Director for
the region in which the bank is located.
Savings Institutions Insured by the FSLIC, Mortgage Banking
Subsidiaries of Savings and Loan Holding Companies, Savings and
Loan Service Corporations, and Members of the FHLB System (except
for State Savings Banks insured by FDIC)
The Federal Home Loan Bank Board Supervisory Agent in the
district in which the institution is located.
Credit Unions
Office of Consumer Affairs
National Credit Union Administration
1776 G Street, N.W.
Washington, D.C. 20456
Other Financial Institutions
Federal Deposit Insurance Corporation Regional Director for
the region in which the institution is located.
By order of the Board of Governors of the Federal Reserve
System, May 9, 1988.

(signed) William W. Wiles
William W. Wiles
Secretary of the Board

FEDER AL R E S E R V E BANK O F DALLAS
STA TIO N K
DALLAS, TEXAS 7 5 2 2 2
RETURN POSTAGE GUARANTEED

BULIK R A TE
U.S. P O S T A G E

PAID
DALLAS, TEXAS
P er m it No. 151

Full text of District Notices (Federal Reserve Bank of Dallas) : Public Comment on Amendments to Regulation C which Carry Out Provisions of the Home Mortgage Disclosure Act, Circular No. 88-35

FRASER