Full text of Federal Reserve Bank of New York Circulars : 10259. Home Mortgage Disclosure

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FEDERAL RESERVE BAWK
OF i^SEW YORK

[

No. 10259 1

Circular
August 30, 1988

HOME MORTGAGE DISCLOSURE
Revision of Regulation C

To A ll Institutions Subject to the Home Mortgage Disclosure Act,
and Others Concerned, in the Second Federal Reserve District:

The following statement has been issued by the Board of Governors of the Federal Reserve
System announcing a revision of its Regulation C, “Home Mortgage Disclosure,” in order to con­
form that regulation to recent amendments to the Home Mortgage Disclosure Act:
The Federal Reserve Board has published revisions to its Regulation C to incorporate recent Con­
gressional amendments that extend the Home Mortgage Disclosure Act (HMD A) permanently and ex­
pand its coverage. The changes are effective September 19.
The HMDA and the Board’s Regulation C (Home Mortgage Disclosure) require financial insti­
tutions that have over $10 million in assets, and have home or branch offices in metropolitan statistical
areas (MSAs) or primary metropolitan statistical areas, to disclose annually their originations and pur­
chases of home mortgage and home improvement loans. In addition to the permanent extension of the
Act, Congress also expanded the Act’s coverage to include savings and loan service corporations and
mortgage banking subsidiaries of bank and savings and loan holding companies. The changes to the
regulation also include redrafted instructions to the reporting forms to further simplify and clarify them.

Enclosed — for banks, bank holding companies, thrift institutions, and others maintaining sets
of the Board’s regulations — is a copy of the text of the revised Regulation C, which has been
reprinted from the Federal Register of August 19. Questions regarding this regulation may be di­
rected to Eric K. Tarlow, Assistant Chief Examiner, Compliance Examinations Department
(Tel. No. 212-720-5919).
E . G e r a l d C o r r ig a n ,

President.

Board of Governors of the Federal Reserve System

H O M E M O R T G A G E D ISCLO SU R E
REVISION OF REGULATION C
(Effective September 19, 1988)

newly covered service corporations,
because these institutions are required
to exclude FHA loans from their reports.
12 ©Flni Pars
EFFECTIVE ©A¥!S: September 19,1988,
[Regulation C; OecSssS K!@. R-0635]
except that the provisions in § 203.2 (f)
and
(g) related to the reporting of mobile
Horn® Mortgage Oisetosufr©; Revision©
and manufactured home loans will take
to Regulation ©
effect on January 1,1989. Mortgage
A©iN<gV: Board of Governors of the
banking subsidiaries of bank and
Federal Reserve System.
savings and loan holding companies and
savings and loan service corporations
ACTION: Final rule.
will be required to report data for
calendar year 1988 in March of 1989.
SUMMARY: The Board has adopted a
revised Regulation C (Home Mortgage
F©R FURTHER INFORMATION CONTACT:
Disclosure). The revised regulation
John C. Wood, Senior Attorney, or
incorporates recent amendments to the Thomas J. Noto or Linda Vespereny,
Home Mortgage Disclosure Act that
Staff Attorneys, Division of Consumer
were contained in the Housing and
and Community Affairs, Board of
Community Development Act of 1987.
Governors of the Federal Reserve
These statutory amendments
System, Washington, DC 20551, at 202permanently extend the act and expand 452-2412 or 202-452-3667; for the
its coverage to include mortgage
hearing impaired only, contact
banking subsidiaries of bank and
Eamestine Hill or Dorothea Thompson,
savings and loan holding companies,
Telecommunications Device for the
and sayings and loan service
Deaf, at 202-452-3544.
corporations that originate or purchase
mortgage loans. Other revisions stem
from a review made in accordance with SUPPLEMENTARY INFORMATION:
the Board’s Regulatory Improvement
(1) Background
Program.
The HMDA-1 form, which is used by
The Board’s Regulation C (12 CFR Part
banks, thrifts, and other depository
203) implements the Home Mortgage
institutions for reporting loan data,
Disclosure Act of 1975 (HMDA) (12
remains essentially unchanged. The
U.S.C. 2801 et seq.). It requires
Board has adopted a separate form
depository institutions that have over
HMDA-2 for use by mortgage banking
$10 million in assets, and have offices in
subsidiaries of holding companies and
metropolitan statistical areas (MSAs) or
FEDERAL ^ESEESVE SYSTEM

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, in the Housing and
Community Development Act of 1987
(Pub. L. 100-242, section 565,101 Stat.
1815,1945), the 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, these
amendments 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.
On May 13,1988, the Board published
for public comment an amended
Regulation C to implement these and
other changes (53 FR 17061). With some
changes that are identified in the

P R I N T E D IN N E W Y O R K , F R O M F E D E R A L R E G ISTE R , V O L . 5 3 , N O . 1 6 1 , p p . 3 1 6 8 3 - 3 1 6 9 9

N o te :

[Enc. Cir. No.

10259]

This document supersedes the Regulation C pamphlet, dated
December 30, 1987, and all subsequent amendements.

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Federal Register / Vol. 53, No. 161 / Friday, A ugust 19, 1988 / Rules and Regulations

sections that follow, the Board is now
adopting the revised regulation in final
form.
(2) R egulatory Review
The B oard's Regulatory Im provem ent
Program calls for periodic review of
each of the B oard's regulations to
determ ine w h eth er the regulation can be
sim plified. The B oard conducted such a
review of Regulation C an d m ade a
num ber of changes. The tex t of the
regulation w as revised to im prove its
clarity. O bsolete provisions w ere
deleted, footnotes elim inated, a n d a
d etailed appendix regarding state
exem ptions rep laced by a brief
reference in the regulation. In addition,
the instructions to the reporting form s
w ere significantly rew o rk ed an d should
be easier to follow.
(3) A vailability o f A ggregated D ata
A s required by the H ome M ortgage
D isclosure Act, the Federal F inancial
Institutions E xam ination Council (w ith
support from the Federal R eserve B oard
an d the other financial regulators)
aggregates loan d a ta received from all
reporting institutions in each MSA. The
E xam ination C ouncil also produces
tables for each MSA show ing lending
p attern s according to dem ographic
ch aracteristics such as incom e level a n d
age of housing stock. T hese tables,
together w ith d a ta on the individual
institutions, are sen t to cen tral d a ta
depositories in each MSA. The a c t
specifies th at the aggregated d a ta an d
related tab les shall be av ailab le no la te r
th an D ecem ber 31 follow ing the
cale n d ar y ear to w hich they relate.
Typically, the E xam ination Council h as
released these reports by late N ovem ber
or early D ecem ber.
The conference report accom panying
the HMDA am endm ents in d icates
C ongressional interest in having the
HMDA d a ta available at th e cen tral
d a ta depositories earlier th an is now the
case. M em ber agencies of the
E xam ination Council are im plem enting
changes to d a ta processing pro ced u res
in order to facilitate th e earlier
av ailability of the d ata. The B oard
believes th at the revision of R egulation
C, together w ith the e x p an d ed
instructions for reporting, w ill serve this
purpose by enhancing com pliance an d
by reducing errors th a t require editing
follow ing d a ta subm ission.
Several com m enters on the pro p o sal
suggested w ays in w hich the aggregation
and p resen tatio n of aggregated d a ta
might be im proved. Since the
aggregation process is no t governed by
R egulation C, these suggestions w ill be
brought to the atte n tio n o f the
E xam ination Council.

(4) Section-by-Section Summary
The changes made to each section of
the revised regulation are discussed
below.
Section 203.1 Authority, purpose, and
scope.
A reference has been added in
§ 203.1(a) to reflect the approval of
information collection requirements
under the Paperwork Reduction Act. A
reference to HMDA has been added to
the purpose statement in § 203.1(b). Now
that the term “depository institution” is
no longer used in the regulation
(eliminating the possibility of
confusion), the term “depositories" has
replaced the term “repositories" in
§ 203.1(d), referring to the facilities
where data is available in each MSA.
Section 203.2 Definitions.
Section 203.2 contains definitions of
terms used in the regulation, and has
been revised as follows.
Act. The definition of “act” in
§ 203.2(a) has been updated.
Branch office. 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 ©r PMSA
in which the institation has a k m e ©s
branch office. For loans oa property
located in other MSAs or PMSAs (or not
located in an MSA or PMSA at all), the
data are reported as an aggregate sum
without 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 o r branch offices.
Finally, the institution mast post notices
in all branch offices located in MSAs or
PMSAs to inform the public of fee
availability of the HMDA data.
The revised definition set forth in
§ 203.2(b) takes account of fee
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 differs for the two classes of
institutions. Hie definition in revised
i 203.2(b)(l)(i) applies to.banks, thrifts,
and other depository institutions; it is
the same as in the current regoSsfion
and is based on the approval process*,
2

For other covered institutions, the
Board defines "branch office" in
§ 203.2(b)(l)(ii) as an office of the
institution that takes applications from
the public for home purchase or home
improvement loans. In response to
comments, the words "of the institution”
were added to make clear that branch
offices include only facilities of the
institution itself, not offices of affiliates
or other third parties. This branch office
definition will apply to mortgage
banking subsidiaries of holding
companies and saving and loan service
corporations (except for those that are
majority owned by a single thrift
institution).
The definition of the term “financial
institution” in the May proposal would
have resulted in the application of the
new branch office definition to majorityowned subsidiaries of depository
institutions. As discussed below, the
final rule does not incorporate that
change. Accordingly, majority-owned
subsidiaries of depository institutions
(including majority-owned service
corporations) will continue to be
governed by the current rale, which
focuses on the branch locations of the
parent institution.

Federally related mortgage loan.
Banks and othe?, depository institutions
are subject to HMDA only if they make
“federally related mortgage loans.” The
definition of feat terra, earnestly in
footnote 1, has been restated more
concisely and incorporated in fee text of
the regulation as § 203.2(d).
Financial institution. Section 203.2(e)
defines thetoMteMmss covered by the
regulation; the term “fmanciai
institution? s p a c e s fe© tessa
“deposited inetitutioiu” This change is
designed to avoid the confusstos feat
might arise from the fact that, in
ordinary usage, the term depository
institution signifies institutions such as
banks and thrifts, not mortgage banking
firms and other institutions that do not
take deposits. The new definition
encompasses both the traditional
depository institutions and the new
class of covered institutions: Savings
ami loan service corporations and
mortgage bankmg subsidiaries of bank
holding companies and savings and loan
holding companies.
As noted above, depository
institutions are subject to H M DA only if
they make federally related mortgage
loans. The statutory amsssimeata do sot
condition coverage of the newly covered
institutions ©a fe i making of federally
related mortage-loans. Hie regulatory
definition of “financial institution”
parallels the statute.

Federal Register / Vol. 53, No. 161 / Friday, August 19, 1988 / Rules and Regulations

A number of commenters asked the
Board to clarify the term “mortgage
banking subsidiary.” Many expressed
concern that, without further
elaboration, the term might be construed
to cover consumer finance subsidiaries
of holding companies. The Board
believes that the use of the qualifying
term "mortgage banking” in the
statutory amendments suggests that the
Congress did not intend to expand
coverage to institutions that make only a
limited number of mortgage loans.
Section 203.2(e)(l)(ii) of the final
regulation defines a mortgage banking
subsidiary as an institution that makes
home purchase loans in an amount
greater than 10% of its total loan volume,
measured in dollars. This cutoff is
intended to ensure that any holding
company subsidiary whose line of
business is other than mortgage banking,
but that makes a small number of home
purchase loans, will not be required to
report.
The May proposal treated majorityowned subsidiaries of depository
institutions as financial institutions in
their own right Consequently, these
institutions would have been considered
to have branch offices in any MSA
where they have offices for taking loan
applications from the public. A number
of commenters opposed this requirement
because of the significant increase in the
reporting burden for subsidiaries that
have offices in MSAs other than the
MSAs in which the parent institution
has branches. Moreover, a regulatory
agency expressed concern that some of
the data presently reported by these
subsidiaries would no longer be
reported in itemized form. Upon further
analysis, the Board has decided to retain
the current rule which treats majorityowned subsidiaries as part of the parent
institution.
A parallel issue arises regarding the
treatment of savings and loan seme©
corporations. Although the statutory
amendments brought savings and loan
service corporations specifically within
the coverage of HMDA, service
corporations that are majority-owned
subsidiaries of thrift institutions already
were covered by Regulation C. Because
of the statute’s specific reference to
service corporations, however, the
Board considered whether a majorityowned savings and loan service
corporation should continue to be
treated as the subsidiary of its parent
institution or characterized as a
"savings and loan service corporation”
under the new definition in the
regulation.
If treated as a majority-owned
subsidiary the service corporation

would continue to report, as it does now, dwelling," and may include residential
structures such as mobile homes that are
on a consolidated basis with its parent;
not classified as real property in some
its data would be itemized for MSAs
states. In publishing the proposed
where its parent has offices, and would
regulation, the Board requested
include FHA lending. If the institution
comment on whether dwelling units
were treated as a “savings and loan
such as mobile or manufactured homes
service corporation,” however,
significantly different rules would apply. should specifically be covered under the
home improvement or the home
The institution would itemize data only
purchase loan definition, or both.
for MSAs where it has offices for taking
Although some commenters preferred
loan applications, rather than where its
that they be excluded, a majority
parent has branch offices, and it would
believed that it was appropriate for
be required to exclude FHA loans from
loans on such property to be disclosed,
its reports.
given that they are an important source
The Board believes that the intent of
of housing in some areas. Accordingly,
the Congress in enacting the statutory
the definitions of home purchase and
amendments was to extend HMDA
home improvement loans specifically
coverage to institutions that are not
include mobile and manufactured
already covered. Until now, only those
homes, whether or not these dwellings
service corporations that are majorityare considered real property under state
owned subsidiaries of thrifts have been
law. This provision becomes effective
reporting (in conjunction with their
parent). Other service corporations were on January 1,1989, and therefore will
not require a change in the reporting of
not subject to the regulation (for
loan data for 1988.
example, a corporation established by
multiple thrifts, none holding a majority
Several commenters requested that
interest). The Board believes that die
the disclosure requirements for home
amendments were intended to apply to
equity lines be clarified. The
these latter institutions. Accordingly,
instructions to the reporting forms,
under § 203.2(e)(l)(iii) and (e)(2) m the
contained in Appendix A, specify that
revised definition of “financial
the data for home improvement loans
institution,” majority-owned savings
may include that portion of a home
and loan service corporations are
equity line of credit which the borrower
deemed to be part of their parent
indicates, when the line is established,
institution.
will be used for home improvement
purposes.
The Board also has proposed to
amend the definition of financial
Commenters also requested
institution to cover industrial banks,
clarification on the treatment of
which in recent years have taken on
assumptions. The Board believes that if
many of the characteristics of
an institution expressly agrees in writing
commercial and savings banks. Based
with a new party to accept that party as
on the comments and further analysis,
the obligor on an existing home
the Board has decided not to include
purchase loan, the transaction should be
treated as a new home purchase loan.
industrial banks within the definition of
financial institution.
But if a new party takes over an existing
obligation without a written agreement,
Home improvement and homo
the loan is not reportable under HMDA.
purchase loans. The definition© of
“home improvement loan” and “home
Section
203.3 Exempt institutions.
purchase loan” are set forth in § 203.2(f)
Section 203.3 excludes from the
and (g).
coverage of the regulation small
The definition of “home improvement
institutions, institutions without offices
loan,” though revised for clarity, is
in MSAs, and institutions that are
substantively unchanged. The revised
subject to a similar state law and have
definition omits the reference to
been granted an exemption from the
refinancings found in the current
federal law.
regulation because home improvement
The provisions of this section have
loans are generally not refinanced, the
provision (footnotes 2 and 3 in the
been reorganized and the language
current regulation) permitting any firstclarified; the substantive rales remain
lien loan to be reported as a home
unchanged. Material relating to state
purchase loan now appears is the
law exemptions has been grouped
instructions rather than the regulatory
together in § 2®3.3(b). A new
text
? § 203J^b)(2) has been added to incicat®
that a state ©r a financial institution
The definition off home purchase loan
may apply t© the. IBaard for hm
currently is limited to loans for tfe®
exemption from th® regulation based on
purchase of "residential real property.”
In contrast, a home improvement loan m the existesse of o similar state
disclosure law. TMs reference replaces
defined in terms off “residential
3

31686

Federal Register / Vol. 53, No. 161 / Friday, August 19, 1988 / Rules and Regulations

the detailed discussion in current
Appendix B (which the Board has
deleted) about the filing of applications
for state exemptions.
The Board has received questions
about how data should be reported in
cases where a merger of two or more
financial institutions occurs. In some
cases, the merger of two institutions that
previously were both exempt, because
of their asset size, may produce a
successor institution whose assets
exceed the $10 million cutoff. In other
cases, a covered institution may merge
with one that was previously exempt
because of asset size or location outside
an MSA.
In the case of two exempt institutions,
the successor institution that becomes
subject to HMDA will be required to
disclose loan data for the calendar year
following the year in which the merger
took place.
If two institutions merge and only one
of them was previously covered, the
successor institution is required to
report loan data, for the covered
instituton, for the calendar year in
which the merger took place. That report
may, but need not, also include loan
data for the previously exempt
institution. Beginning with the following
calendar year, the institution will file a
consolidated report that includes all
loan data.
A similar reporting question arises
when the institutions that merge are
both covered institutions. If two covered
institutions merge, the successor
institution may file a consolidated report
for the calendar year in which they
merge, but has the option of filing
separate reports for that year. Beginning
with the following calendar year, the
institution will file a consolidated report
that includes all loan data.
Section 203.4 Compilation of loan data.
Section 203.4 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. Substantive
changes are noted below. Revised
| 203.4(a) incorporates material from
current | 203.4(a) and (b). Section
I 203.(4)(b) has been restructured for
readability, and also incorporates the
rules on MSAs and census tracts
presently found in § 203.4(d).
With regard to census tracts, the
revised regulation refers to “the most
recent census tract series” issued by the
Census Bureau. The most recent series
is currently the 1880 series. Use of the
1980 series is necessary because 1980
census data is used by the Federal

Financial Institutions Examination
Council in preparing tables illustrating
lending patterns in each MSA.
Section 203.4(c) lists types of loans to
be excluded from the disclosures. The
six listed in paragraph (c)(1) apply both
to depository institutions and to the
newly covered institutions. The
exclusions for loans made in a fiduciary
capacity, loans on unimproved land, and
certain refinancings are drawn from
current | 203.4(c). The final rule
specifies that a refinancing between the
original parties should not be reported if
the only increase in the principal results
from closing costs or unpaid finance
charges that are being financed.
Two of the remaining three exclusions
(temporary financing and the purchase
of an interest in a pool of loans) were
moved into revised i 203.4 from the
definition of “home purchase loan” in
current § 203.2(f).
The sixth exclusion relates to 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 regulation excludes
from the reporting requirement the
purchase solely of servicing rights to
mortgage loans.
Section 203.4(c)(2) applies only to
mortgage banking subsidiaries and
savings and loan service corporations
that are not majority-owned. It excludes
from the reporting requirement loans
that are insured under Title I or II of the
National Housing Act (that is, FHAinsured home improvement and home
purchase loans), implementing 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 are to be collected by the U.S.
Department of Housing and Urban
Development.) As discussed under
Appendix A, the Board has provided an
optional form HMDA-2A that may b®
4

used by these institutions to disclose
their FHA lending activity.
Section 203.5 Disclosure and reporting.
Section 203.5 relates to making loan
data available at offices of an institution
and reporting the data to supervisory
agencies. As under the current
provisions, disclosure statements for a
given calendar year are due by the
following March 31.
This section also requires institutions
to post notices regarding the availability
of HMDA data. Posters that may be
used to meet the notice requirement are
available from federal supervisory
agencies. The revised section clarifies
that an institution may, in its notice, give
the location where disclosure
statements are available.
Section 203.6 Enforcement.
Section 203.6 sets forth rules relating
to administrative enforcement and bona
fide errors. The language and structure
of this section have been revised to
clarify its provisions.
Appendix A Forms and instructions.
Appendix A of the current regulation,
which lists supervisory agencies, is
designated 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 HMDA-1 or HMDA-2
form, as appropriate, but 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 commercial banks, savings
banks, savings and loan associations,
building and loan associations,
homestead associations (including
cooperative banks), and credit unions.
The instructions for completing the form
have been expanded significantly to
facilitate compliance; the form itself is
unchanged except for minor revisions.
Column headings have been changed to
read “total dollar amount" instead of
“principal amount,” but the data to be
reported in these columns remain the
same. Accordingly, institutions will not
have to make changes in their data
processing procedures for compiling the
data. A signature line has been added,
calling for an officer of the reporting
institution to certify to the accuracy of
the report.

Federal Register / Vol. 53, No. 161 / Friday, August 19, 1988 / Rules and Regulations

A new form HMDA-2 and
effective data for coverage, the Board is
accompanying instructions have been
unable to delay the reporting
added for use by savings and loan
requirements.
service corporations and mortgage
Changes related to reporting of mobile
banking subsidiaries of bank holding
and manufactured home loans, whether
companies and savings and loan holding or not these dwellings are characterized
companies, which will not report FHA
as realty under state law, will take
loans. The provision of a new form is
effect on January 1,1989 (to be reported
intended to minimize confusion for
on statements filed in March of 1990).
reporting institutions. The Board has
(6)
Economic impact statement. The
provided an optional form, HMDA-2A,
Board’s Division of Research and
that may be used by institutions that
Statistics has prepared an economic
wish to maintain a public record of their impact statement on the revisions to
FHA lending activity. Use of the form is
Regulation C. A copy of the analysis
optional; the form will not be submitted
may be obtained from Publications
to supervisory agencies, but could be
Services, Board of Governors of the
made available to the public (along with Federal Reserve System, Washington,
the required HMDA data) at the
DC 20551, at 202-452-3245.
institution’s own offices.
List of Subjects ia 12 CFR Part 2®3
Notice of the changes to the HMDA-1
reporting form and of the Board’s
Banks, Banking, Consumer protection,
adoption of a new HMDA-2 and
Federal Reserve System, Home
HMDA-2A is being published elsewhere mortgage disclosure, Mortgages,
in this issue of the Federal Register, to
Reporting and recordkeeping
comply with the requirements of the
requirements.
Paperwork Reduction Act.
For the reasons set out in this notice
Appendix B Federal supervisory
and pursuant to the Board's authority'
agencies
under section 305(a) of the Home
Mortgage Disclosure Act (12 U.S.C.
Appendix B of the current regulation,
2804(a)), 12 CFR Part 203 is revised to
relating to application for state
read as follows;
exemptions, has been deleted. In its
place, a reference to the availability of
PART 2 0 3 = TOEfif £$0R?©A©I
state exemptions has been added to
OISCLOSU^S
§ 203.3.
Current Appendix A, which lists
Sec.
enforcement agencies, has been
203.2 Authority, purpose, and asapa.
designated Appendix E, The Board has
203.2 Befssittoas.
203.3 Exempt institutions.
amended the appendix to incorporate
203.4 Compilation of loan data.
references specifying that mortgage
203.5 Disclosure and reportings
banking subsidiaries of bank holding
203.8 Enforcement.
companies shall submit HMDA reports
Appendix A Forms and instruciisns.
to the Federal Reserve System, and that
Appendix B Federal supervisory agencies.
savings and loan service corporations
Authority: 12 U.SLC. 2801-2810.
and mortgage banking subsidiaries of
savings and loan holding companies
§ 203.1 Authority, purpose,
shall submit theirs to the Federal Ho®@
(a) Authority. This regulation is issued
Loan Bank System. These reporting
arrangements are appropriate in view of by the Board of Governors of the
Federal Reserve System (“Board’")
the Federal Reserve’s general
pursuant to the Home Mortgage
supervisory responsibility for non-bank
subsidiaries of bank holding companies, Disclosure Act (12 U.S.C. 2801 eg sag.).
The information collection requirements
and the Federal'Honseiuoan Bank
have been approved by the U.S. Office
System’s parallel responsibility for
of Management and Budget under 44
savings and loan seme® corporations
U.S.C. 3501 et seq. and have been
and mortgage banking subsidiaries of
assigned OMB No. 7100-0080.
savings and loan feolfeg companies.
(5)
Effective dates. Mortgage banking (b) Purpose. (1) T his regulation carries
out the p u rp o ses of the H om e M ortgage
subsidiaries of holding companies, and
D isclosure A ct, w hich is in ten d ed to
savings and loan service corporations
that are not majority-owned by any on® provide the public w ith lo an d a ta th a t
can be used:
thrift institution, will be required to
(i) T o h elp determ ine w h eth er
report data on loan originations and
fin an cial in stitu tio n s a re se rrin g the
purchases for calendar year 1988. Their
housing n e e d s of theis c o m m u n itie s
First report will be due on March 31,
1989. A number of commenters asked
(ii) T o a ssist p u b lic officiate m
that these institutions not be required to distributing public secto r in v estm en ts t®
report data for 1988. However, because
as to a ttra c t private ®v©sta®n& te
the statutory amendments specify the
w here it is. needed.
5

316S7

(2)
Neither the act nor this regulation
is intended to encourage unsound
lending practices or the allocation of
credit.
(c) Scope. This regulation applies to
financial institutions, as defined in
§ 203.2(e), and requires them to disclose
loan data at their home and certain
branch offices and to report the data to
supervisory agencies.
(d) Central data depositories. Loan
data are 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
Development, Washington, DC 20410, or
from any of the agencies listed in
Appendix B.

§§@3.g Definitions.
In this f®g®!ation:
(a) Act moans the Home Mortgage
Disclosure Act (12 U.S.C. 2801 et seq.)
(b) Branch office means: (l)(i) Any
o®e@ of a financial institution that is
approved as a branch by a federal or
state supepvisopy agency; or
(ii)
For a financial institution that is
not required to obtain approval for a
branch office, any office of the
institution 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 terminate.
(c) Federal Housing Administration
(FHA), Farmers Home Administration
(FmHA), or Veterans (VA) loans mean
mortgage loans insured under Title II of
the National Housing Act or Title V of
the Housing Act of 1849 or guaranteed
under Chapter 3? of Title 38 of the
Ufrited States Code.
(d) Federally related mortgage loan
means any loan (other than temporary
financing such as a construction loan)
secured by a first Men ®a a l-to-4 family
dwelling (including a Goadomaium, a
cooperative, or a mobile as
manufactured home);
(l>That is originated by a federally
insured or regulated institution;
(2)
That io insured, gmrasi@Q4 os
supplemented by any federal agency; as

•to (3£
Tbafctksoriginator mtesds to sell
the Federal Naiissdl Mortgage
Associ
ation, theCkRramEaGsatNatoael
Mertjpip Aosscfeatkis, or ths Federal
Home L$sa

Federal Msgister / Vol. 53, No. 161 / Friday, A ugust 19, 1988 / Rules and Regulations

(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) or credit union that originates
federally related mortgage loans;
(ii) A mortgage banking subsidiary of
a savings and loan holding company, or
a mortgage banking subsidiary of a bank
holding company; however, a subsidiary
is not a “mortgage banking subsidiary”
under this section unless, in the
preceding Calendar year, ten percent or
more of its loan volume, measured in
dollars, consisted of home purchase
loans; or
(iii) A savings and loan service
corporation that originates or purchases
mortgage loans, other than a savings
and loan service corporation identified
in paragraph (e)(2) of this section.
(2)
A majority-owned subsidiary of a
financial institution, including a
majority-owned savings and loan
service corporation, is deemed to be
part of the parent institution for
purposes of this regulation.
(f) H o m e i m p r o v e m e n t l o a n means
any loan that: (1) 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 (including a
condominium, cooperative, or mobile or
manufactured home) located in a state;
and
(2) is classified by the financial
institution as a home improvement loan.
(g) H o m e p u rc h a s e loan means any
loan secured by and made for the
purpose of purchasing, or refinancing
the purchase of, a residential dwelling
(including a condominium, cooperative,
or mobile or manufactured home)
located in a state.
(h) M e t r o p o l i t a n s t a t i s t i c a l a r e a o r
M S A means a metropolitan statistical
area or a primary metropolitan
statistical area, as defined by the U.S.
Office of Management and Budget.
(i) S t a t e means any state of the United
States of America, the District of
Columbia, and the Commonwealth of
Puerto Rico.

§ 203.3 Exempt Snofcitofem,
(a) E x e m p t i o n b a s e d o n a s s e t s i z e o r
l o c a t i o n . A financial institution is
exempt from the requirements of this
regulation for a given calendar year if on
the preceding December 31:
(1) Its total assets were $10,000,000 or
less; or
(2) It had neither a home office nor a
branch office in an MSA.
(b) E x e m p t i o n b a s e d o n s t a t e la w . (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 financial
institution, or association of such
institutions may apply to the Board for
an exemption under this paragraph.
(3) An institution that is exempt under
this paragraph shall submit the data
required by the state disclosure law to
its state supervisory agency, for
purposes of aggregation.
(c)
L o s s o f e x e m p t i o n . (1) An
institution losing an exemption that was
based on asset size or location under
paragraph (a) of this section shall
compile loan data in compliance with
this regulation beginning with the
calendar year following the year in
which it lost its exemption.
(2) An institution losing an exemption
that was based on state law under
paragraph (b) of this section 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.

§ 203.4 CempiSatlwj ©ff Hean data.
(a) D a t a t o b e i n c l u d e d . A financial
institution shall compile data on the
number and total dollar amount of home
purchase and home improvement loans
originated or purchased (by the
institution and any majority-owned
subsidiary) at any time during the
calendar year, whether or not the loans
are later sold. The institution shall
compile the loan data in the format
prescribed in Appendix A of this
regulation.
(b) I t e m i z a t i o n o f d a t a . A financial
institution shall present the loan data
separately for originations and
purchases, itemizing 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) that were in
effect on January 1 of the calendar year
for which the data are compiled, and
shall use the census tract maps from the
most recent census tract series prepared
by the U.S. Bureau of the Census.
(1) G e o g r a p h i c i t e m i z a t i o n . —(i)
I te m iz a t io n b y c e n s u s tr a c t o r c o u n ty .

For each MSA in which the institution
has a home or branch office, the
institution shall itemize the loan data:
(A) By the census tract in which the
property purchased or improved is
located, or
(B) By the county in which the
property purchased or improved is
6

located, if the property is located in an
area not assigned census tracts or in a
county with a population of 30,000 or
less.
(ii) P r o p e r t y l o c a t e d e l s e w h e r e . The
institution shall list the loan data as an
aggregate sum for loans on property
located outside an MSA, or located in
an MSA where the institution has
neither a home nor a branch office.
(2) T y p e - o f - l o a n i t e m i z a t i o n . The
financial institution shall further itemize
the loan data within each geographic
unit by loan category as follows:
(i) FHA, FmHA, and VA home
purchase loans on l-to-4 family
dwellings (except as provided in
paragraph (c)(2) of this section);
(ii) Conventional home purchase loans
on l-to-4 family dwellings;
(iii) Home improvement loans on 1-to4 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 nonoccupant
borrowers, except for loans on property
located outside an MSA, or located in
an MSA where the institution has
neither a home nor a branch office.
(c)
D a t a t o b e e x c l u d e d . (1) A
financial institution shall not report:
(1) Loans originated or purchased by
the financial institution acting in a
fiduciary capacity (such as trustee);
(ii) Loans on unimproved land;
(iii) Refinancings, between the original
parties, involving no increase in the
outstanding principal aside from closing
costs and a c c r u e d finance charges;
(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) The purchase solely of the right to
service loans.
(2) Mortgage banking subsidiaries of
holding companies and savings and loan
service corporations (as defined in
§ 203.2(e)(1)) shall not report FHA loans
insured under Title I or II of the National
Housing Act.
§ 203.5 Disclosure andl reporting.

(a)
T i m e r e q u i r e m e n t s . By March 31
following the calendar year for which
the loan data are compiled, a financial
institution shall:
(1) Make a complete loan data
disclosure statement available to the
public, and continue to make it available
for five years from that date; and
(2) Send two copies of its complete
loan disclosure statement to the agency
office specified in Appendix B of this
regulation.

Federal Register / Vol. 53, No. 161 / Friday, August 19, 1988 / Rules and Regulations
^

(b) Availability to the public. (1) A
financial institution shall make a
complete loan disclosure statement
available at its home office.
(2) If it has branch offices in other
MSAs, the financial institution shall also
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 in the MSA where that branch
office is located.
(3) A financial institution shall make
its disclosure statement available for
inspection and 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 branch offices located in
an MSA. Upon request, it shall promptly
provide the location of the institution's
offices where the disclosure statement is
available. At its option, an institution
may include the location in its notice.
§ 203.® Enf©re©ra©irsi
(a) Administrative enforcement. A
violation of the act or this regulation is
subject to administrative sanctions as
provided in section 305 of the act.
Compliance is enforced by the agencies
listed in Appendix B of this regulation.
(b) Bona fide errors. An error in
compiling or disclosing loan data is not
a violation of the act or this regulation if
it was unintentional and occurred
despite the maintenance of procedures
reasonably adapted to avoid such
errors.
Appendix A—Fonns and Instracdons
HMDA-l, "MORTGAGELOAN
DISCLOSURE ST A TEMENT”
Public reporting burden for this collection
of information is estim ated to vary from 2 to
50 hours per response, with an average of 30
hours per response, including tim e to gather
and m aintain the data needed and to review
instructions and com plete the information
collection. Send comments regarding this
burden 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, DC 20551; and
to the Office o f Information and Regulatory
Affairs, O ffice of Management and Budget,
W ashington, DC 20503.

1 — i— i —

— •■■ ■|—
-r--"-

—— — — — —|— - = M
B- 1

INSTRUCTIONS TO COMMERCIAL
BANKS. SA VINGS BANKS, SA VINGS AND
LOAN ASSOCIATIONS, CREDIT UNIONS
AND OTHER DEPOSITORY INSTITUTIONS
A. Who Must Use This Form
1. A commercial bank, savings bank,
savings and loan association, building and
loan association, hom estead association
(including a cooperative bank) or credit union
must com plete this H M D A -l form to disclose
loan data for a given calendar year if on the
preceding Decem ber 31 the institution:
a. Had assets of more than $ 1 0 million, and
b. Had a home or a branch office in a
metropolitan statistical area (MSA) or a
primary m etropolitan statistical areas
(PMSA).
Example: If on Decem ber 31,1987, your
home office w a s located in an MSA and your
assets exceeded $ 1 0 million, you must
compile data and com plete a disclosure
statem ent for all hom e purchase and home
inprovement loans that you originate or
purchase during calendar year 1988.
2. H owever, your institution need not
com plete a disclosure statem ent— even
though it m eets the tests for asset size and
location— if it m akes no first-lien mortgage
loans on l-to-4 fam ily dw ellings in the
calendar year for which the data ar©
compiled.
3. A ny m ajority-owned subsidiary is
deem ed to be part of the parent institution.
Consequfently, you should consolidate into
your disclosure statem ent loan data relating
to originations and purchases by all of your
institution’s m ajority-owned subsidiaries
(including a m ajority-owned service
corporation, in the case of a savings and loan
association). To com ply with the
requirements described under section G
(Geographic Itemization) below , item ize loan
data for M SAs or PMSAs w here the parent
institution has a home or branch offices.
Example: If you have a home and branch
offices in N ew York City, and your
subsidiary’s loan offices are-in Philadelphia,
item ize data by census tract (or county) only
for the N ew York PMSA. Report loan data on
loans relating to property located anywhere
outside the N ew York PMSA (including loans
in Philadelphia) as an aggregate sum in
section 2 (Loans on property not located in
M SA s/PM SA s w here institution has hom e or
branch offices).

M~—~

31689

itself. For example, you may produce a
computer printout of your disclosure
statem ent instead. But you must give all the
identifying information asked for at the top of
the form, use the prescribed column headings,
provide the signature of a certifying officer,
etc.
2.
If your report on loan originations or
purchases consists of more than one page,
number the pages and include the name of
your institution and the MSA number at the
top of each page. Enter the totals for the MSA
on the final page; do not give subtotals on
earlier pages. Report the section 2 data
(Loans or property not located in M SA s/
PMSAs) on the final page. If your report
contains item ized data for more than one
MSA, report the section 2 data only once for
Part A and once for Part B— do not repeat the
data on the report for each MSA.

D. When and Where Statement is Due
1. You must send two copies of your
disclosure statement to the office specified by
your federal supervisory agency no later than
March 31 follow ing the calendar year for
which the loan data are compiled.
2. The com pleted disclosure statement must
be signed by an officer of your institution (for
both Part A and Part B, on the final page of
each) certifying to the accuracy of the data
and indicating whether the statement
includes data of a m ajority-owned
subsidiary. (See paragraph 3 of section A
above.)
3. You also must make your disclosure
statem ent available no later than March 31
for inspection by the public at your home
office and, if you have branch offices in other
M SAs, at one branch office in each of these
MSAs.

E. Data To Be Shown

1. Originations and purchases. Show the
data on home purchase and home
improvement loans that you originated or
purchased during the calendar year covered
by the disclosure statem ent. Report the data
on loan originations on Part A of the form
and the data on loan purchases on Part B of
the form even if the loans were subsequently
sold. If you have no loans to report in one of
the two parts, enter "none” in the column
provided for census tract numbers and enter
zeros in Columns A through E: this helps to
B. Who Must Use Other Forms
sh ow that no part of an institution’s report
1 . Mortgage banking subsidiaries of bank
has been lost.
holding com panies, mortgage banking
2. Number and total dollar amount. Show
subsidiaries of savings and loan holding
the number of loans and the total dollar
com panies, and savings and loan service
amount of loans for each category on the
corporations that originate or purchase
statement. For home purchase loans that you
mortgage loans (other than service
originate, “total dollar amount” m eans the
corporations that are m ajority-owned by a
original principal amount of the loan. For
single savings and loan association) must use
home purchase loans that you purchase,
the HMDA - 2 form instead of the H M D A -l.
"total dollar amount” m eans the unpaid
2. Institutions that have been exem pted by
principal balance of the loan at time of
the Federal Reserve Board from complying
purchase. For home improvement loans (both
with federal law b ecause they are covered by
originations and purchases), you may include
a similar state law on mortgage loan
unpaid finance charges in the “total dollar
disclosures must use the disclosure form
amount” if that is how you record such loans
required by their state law.
on your books.
C. Format
3. Rounding. Round all dollar amounts to
1.
You must use the format of the H M D A -l the nearest thousand ($500 should be rounded
form, but you are not required to use the form
up), and show in terms of thousands.

7

31©o©

Federal R egister / VoL 53, No. 161 / Friday, A ugust 19, 1968 / R ales and R egulations

F Data to Be Excluded

Do not report the following types of loans:
1. Loans that, although secured by reel
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);
2. Loans made or purchased in a fiduciary
capacity [for example, by your trust
department);
3. Loans on unimproved land;
4. Refinancings that involve no increase in
the outstanding principal, aside from closing
costs and unpaid finance charges;
5. Construction loans and other temporary
financing;
6. Purchase of an interest in a pool of
mortgage loans such as mortgage
participation certificates; or
7. Purchases solely of the right to service
loans.
G. 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}
L MSA/PMSA. You must compile loan

data geographically for each MSA or PMSA
in which you have a home <sr branch office,
(See itemB balow for treatment of loans on
property outside MSAs/PMSAs), Start a sew
page for each MSA or PMSA, if yon itemize
data for more than one MSA/PMSA. You
must use the MSA/PMSA boundaries
(defined by the U.S. Office of Management
and Budget) that were hi effect on January 1
of the calendar year for wMch the loan data
are compiled.
2. Census tract cra& m ty. Wm loans mu
property thst is feezed 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 fee
property:
a. Is located in an arsa fest is sret divsisd
into census tra c ts ta fee US, Cessma
Bureau’s census treat
maps (see Sam
3 below); or
b. Is located ia a cmaaty wife a popakaisa
of 3(MMM).©r less.
To determ ine p a p ik itisa , a se tbeC tesas!
Bureau’s PCSS-i-A popul&iinH series .esrao sS
the population has saessoesd efesw© 3QrfKK>
since 1S89.
3. Census tract maps. To determ ine c e a s a a

tract numbers, consult the U.S. Census
Bureau’s census tract ©uMtes uggu. Yea .sgg?
use the maps ©f the appropriate .MSAa/
PMSAs in fee Census Buseau’*.EHC8&-£

series for the I960 census, or use equivalent
census data from the Census Bureau (such as
GBF/DIME files) or from a private publisher,
Use the maps in the 1980 series even if more
current maps are available.
4. Compilation. Enter the data for all loans
made in a givsa census tract on the same
line, listing the number and total dollar
amount ® the appropriate columns (as
described below in section H) and listing the
census tracts in numerical sequence. Do the
same for loans made hi a given county.
5. Duplicate census tract numbers. If you
have a home ©r branch office in the New
York, NY PMSA, note that there ere duplicate
census tract numbers in New York City.
When reporting, you must indicate the county
(by name or number) in addition to the tract
number for these census tracts.
0. Ozrtsrde-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 for 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 section H below.)

2. Include refinancings if there is an
increase in the outstanding principal aside
from any increase related to closing costs of
unpaid finance charges.

3. Include any nonoccupant conventional
loans in this column as well as in Column E.
4. At year option, you may include loans
that a ps made £@r home improvement
purposes but that are secured by a first lien,
if you normally classify first-lien loans as
purchase loans.
Column C: Home improvement loans on 1to-4 family dwellings.
1. Report in Column C only loans that:
a. The borrowers have said are to be used
for repairing, rehabilitating, or remodeling
residential dwellings, and
b. Are recorded on your books as home
improvement loans.
2.
homo -equity fines of credit, you may
include i s Cofeam C feat portion of fee line
of credit fe&f &® fearrewer indicates will be ,
used for home improvement, at the time the
account is opened. Report only in the year the
line is established.
3. Indade both ©soused and unsecured
loans.
4. You sm g a is k & wjpaid finance charges
in tha '“totel d d la r ssssunt” if that is how you
H. Type-of4^m Itsmisatkm (Bredkd&wn ©/
record such loans an your books.
each geographic grouping in&s i&sn
5. Indude m y nsnosoupant home
categories— Columns A-E)
improvement loans in this column as well as
in Oakes® E.
Column A: FHA, FmHA, and YA loans on
CqIughs D: Loans -®a sraltifsmsly dwellings
l-to-4 family dwellings.
(5 or
fcmiMefi^.
1. Report in Column A loans marie for ths
1. Report in Column D loans on dwellings
purpose of puschasing a residential dwelling
for 5 or more families, including both loans
for 1 to 4 families If the loan is secured by a
for home purchase and loans for home
lien and if it is insured or guaranteed by
improvement.
FHA, FmHA, or YA.
2. Do not report loans on individual
2. At your option, ysum ay include loans
condoirnnhim or cooperative units in Column
that are mad® for home iisprwesasnt
D; report sudh io sss m Columns A. B, or C.
purposes hut w s secured by a first Men, if you
CcSe s k 1: Nosoccupant loans ©a l-to-4
normally daag£% fisisUien kaaiss as
family
loans.
1. Report in Column E any ham® purchase
3. Include-refisaaok^s if there is sn
and home improvement loans on l-to-4 Family
increase in the © utstading prfeop&l aside
dwellings flisted in Colranns A, B, andC ) that
from
eaksted 4a Gassing-cnetaer
were made t® borrowers who indicated at fee
unpaid fereass -she^es,
time of the terssppiGsSsiR feat they did not
4. i&cteris s e y Bo&scsupsst OTA, IFesHA,
in te n d s m a f a psrrpoi&y a piscipaS
or VA loan*.i a. this cbIbihr ■•33waM a sm
dwelling.
C o lu sa 1L
2. In completing Column E of Part B, you
5. Do not sh an't
OTA I S fe I {hom e
improvsiEoS} Jsons & tieinroA t fas® loams may assume that a purchased loan does not
fall within this “aonascupani” category
a re to fa'sffitessdife Colum n C .
unless your documents contain information to
Column B: Conventional home ponciiaBe
the contrary.
loans on l-to-4 family dwellings.
3. Do not complete Cakssasi E fer loans feat
1.
Report in Column B conventional loans
you report under section 2 (Loans on property
(alLloaBSHBftBrihaB'M A, SsrU lLsai V h
not lossted in MSAs/FMSAt^, is either Part
loans) m ado& r^te parpage^f^ss^feasisga
A (Oiggiiggion&Q « r Part ffi fPaniiBses)..
residen tint <4«PBlingfof?lte 4 families & fee
m urja
loans aro ^ o sss^ fey a Seft.

8

OMO No 7100-0023 Apptaval onplfoa Juno tSSO
Tw o tcpc*l to loqutted S>y law 0 2 USC 2201-2010 oral 12 CFR 203)

MORTGAGE UDAW DSSCUDSURE STATEMENT, FORM HMDA-1

FOK USE

Control numbof (agency use only)

DEPOSITORY INSTITUTIONS

Part A — Originations

I I I I I I I I H I.il

Report for loans mad® in 19—

fte^yitag Smotltuttess

It J

EnSejcejnant agsncy fl©r traportlng Institution

Ajjfiuso

Mesas g3BSSA/PMSA

Scsffista T—Sjssens ®» & m & w tg toasted to E38Af?E9®& rate® tet&aatea teas a te sta «j terosfe ®«M*o
O-fewtiSQ
pma,

CENSUS TRACT CS>numsrteea ertsuencc)
e?
COU?JTV

cj mz&QJ)

Loans on Mod Family SsscKngo
L/oono
Convenltoisal
. 0

gjk3m

A
£to. <tf
Loasio

?C3©3(ttsJJC*ACv1®4S533

Wo. ©9
Loan©

TTelpJ) OoCScyAr^®^3

KassioteyiovcaKcsJ Uksso
C
Wo. ©9
&CSft3

VctoO(So^e?

L©sjw3cjd CtSuOUtlfQraSSy©tsci52n®off©?
©a C&WQFomiltea
£?t®mspuTCfrocoo ana
&W
W
TKJ>tejptf<STCSJOttnrflrt|)
0
W©. ©9
L&23B3

TToOSl DoWSf Apkcjj?Q
(tftowaonctoj

Wonoccopant Loono
on Mo-4 Family Dvaoillngo
Op®mcolumn©A. 0 ami C
ft

Mo. ©9
Looks

Yo3g» Dollar Amount
filtouoonde)

Federal Register / Vol. 53, No. 101 /

MSA/PfetSA num ber Sor d a ta reported In S ectio n T

Friday, August

VO

19, 1988 /

MSAKP&2SA TOTAL
SssOJsn 2— Loona ®35 gjejsorty ces9 faceted to MSAeiPElSAo c Sje ;© bjoOKtefe^ teas tessa cj tassSJ ©ilEseo

S®a£34!iool CorWyasg OJltccj

Pttni f-^cmool Patnon Cotnptollftg Fotrjt

Telephone Numftot |IncIu4s Atoo Codo and Emsnoion)

Rules and Regulations

■ H P m r n im m
SctoK®®dlsatittte311 taEKuMUtociuas) 11 eooaiaalotoraaiitnayt

9ft£3c*v caMy to tao Sixmezv el eras .esKtta

31691

MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA-1

IS
Control number (agency u se only)

F O R USE BY DEPO SITO RY IN S T IT U T IO N S

Fart B— Purchases

I__i__L I I I I I I - I— L-l

Report for (loans mad© in 19___

R eporting Institution

I I I__I

Enforcement agency tor reporting Institution

ArtHjcoo

A££lC30

Nemo o! MSA/M48A

S ssttsn t — a.®aota eat praperts? fesatcai to MSAJPMSA w tioM teoGlflufliteia Gaos o horns ©j ferastsSi ©dllteo
Loono on 1-10-4Family Doclllnoo
temo Purebaoo Lcano
C=«a. PcsMA, CJtd VA
A

CENSUS TRACT (bi numorteel ooouoi.ee)
0

IK». eO
ieeito
...... L‘

COUNTY taarco or nurabar)

. _J L . ‘ ' :.?) ’.:... i

r ............. ..............................

■
’

?E5o! Oo!)o Antes®5
CMiOaocKsSc)

CoaKHisisnel
0
No. 03
IffiOJO

TolQJ Bailor Amount
{SfiasseeiuSi)

Loans on MuMflomily Chsctllngo Icj
5 cj Lt-GJOFomiJiao
tfiomo ptfjcfioooo ond
homo trit^foucmcjill)
©

Homs ImjMoscmesit Useno
C
No. OJ
Econo

Tool Holier AroautitO
tKtaiKssswta)

Wo c3
Locjsio

Tolel Doltoi Amosatt
IJttoaocreJo)

Nonoccupant Loans
on Mo-4 Fomily Dwellings
liom coiufRjio A, B end C
£
No. cJ
dJD^JUO

Total Dollar Amount
ilftouaandsj

' '...r »'■ ;..M

V'

*

im m .

2 — IWSJ35SD ©a EJcscsflt? 0523 tosoeci! to MfUkaJPIISAe

teastojite] t o tosso c?

>Fftzjcyj
c3CC?Wempties
5taCtei3DaBc aKenney
COS e?kmda m
0'SS£N=oct Gatwptop Qtt&p
C36XEKQ C 0 0 S G2fl(f-01-C

F»im Neicoh tocea GoroptelliC!

TotcjjMMK) Mumbct (IncitiSo Area Ohio end £nfSno!on)

F©ibs$i R ep stet / V®L 53, No. 181 / Friday, August 19, 1988 / Rssles assd Regulations

MSA/PMSA numrttosr tor d a ta reported in Section n

Federal Register / Vol. 53, No. 161 / Friday, A ugust 19, 1988 / Rules and Regulations
—

FORM HMDA-2. "MORTGAGE LOAN
DISCLOSURE STA TEMENT"

Public reporting burden for this collection
of information is estimated to vary from 30 to
100 hours per response, with an average of 60
hours per response, including time to gather
and maintain the data needed and to review
instructions and complete the information
collection. Send comments regarding this
burden estimate 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, Washington, DC 20551; and
to the Office of Information and Regulatory
Affairs, Office of Management and Budget,
Washington, DC 20503.
INSTRUCTIONS TO MORTGAGE
BANKING SUBSIDIARIES OF HOLDING
COMPANIES AND TO SA VINGS AND
LOANS SER VICE CORPORA TIONS
A. Who Must Use This Form

1. A mortgage banking subsidiary of a bank
holding company, a mortgage banking
subsidiary of a savings and loan holding
company, or a savings and loan service
corporation that originates or purchases
mortgage loans (other than a service
corporation that is majority-owned by a
single savings and loan association) must
complete this HMDA-2 form to disclose loan
data for the current calendar year if on the
preceding December 31 the subsidiary or
service corporation:
a. Had assets of more than $10 million, and
b. Had a home or branch office in a
metropolitan statistical area (MSA) or a
primary metropolitan statistical area (PMSA).
Example: If on December 31,1987, your
home office was in an MSA and yoar assets
exceeded $10 million, you must compile data
and complete a disclosure statement for all
home purchase and home improvement loans
that you originate or purchase during
calendar year 1988.
2. For purposes of loan disclosure
requirements (including geographic se
purchase, itemization under section G below),
a branch office means any office of your
institution (not of an affiliate) that takes
applications from the public.
3. 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. But you must be sure to
include all of the identifying information
asked for at the top of the form, to use the
prescribed column headings, to provide the
signature of the certifying officer, etc.
B. Who Must Use Other Forms.

1. Commercial banks, savings and loan
banks, savings and loan associations,
building and loan associations, homestead
associations (including cooperative banks)
and credit unions must use the form HMDA1, instead of HMDA-2.
2. A service corporation that is majorityowned by a single savings and loan
association is deemed to be part of the parent
institution, and its loan data will be reported
on a consolidated basis with the parent’s
data on the HMDA-1.

1 ..........—

—

—

— —

—

—

—

—

l

—

—

.------.

-r- m

31S§)$

Rounding. Round all dollar amounts to
3.
Institutions that have been exempted by 3.
the nearest thousand ($500 should be rounded
the Federal Reserve Board from complying
up), and show in terms of thousands.
with the federal law because they are
covered by a similar state law on mortgage
F.
Data to Be Excluded
loan disclosures must use the disclosure form
Do not report the following types of loans:
required by their state law.
1. Loans that, although secured by real
C. Format
estate, are made for purposes other than for
1. You must use the format of the HMDA-2
home purchase or home improvement (for
form, but you are not required to use the form
example, do not report a loan secured by
itself. For example, you may produce a
residential real property for purposes of
computer printout of your disclosure
financing education, a vacation, or business
statement instead. But you must give all the
operations);
identifying information asked for at the top of
2. Loans made or purchased in a fiduciary
the form, use the prescribed column headings, capacity;
provide the signature of a certifying officer,
3. Loans on unimproved land;
etc.
4. Refinancings of loans that involve no
2. If your report on loan originations or
increase in the outstanding principal, aside
purchases consists of more than one page,
from closing costs and unpaid finance
number the pages and include fee name of
charges;
your institution and the MSA number at the
5. Construction loans and other temporary
top of each page. Enter the totals for the MSA
financing;
on the final page; do not give subtotals on
0. Purchase of an interest in a pool of'
earlier pages. Report the Section 2 data
mortgage loans such as mortgage
(Loans on property not located in MSAs/
participation certificates;
PMSAs) on the final page. If your report
7. Purchases solely of the right to service
contains itemized data for more than one
loans; or
MSA, report the Section 2 data only once for
8. FHA home purchase and home
Part A and once for Part B—do not repeat the
improvement loans (at your option, you may
data on the report for each MSA.
record FHA Loans on form HMDA-2A,
“Mortgage Loan Statement for Optional
D. When and Where Statem ent is Due
Disclosure of FHA Loans").
1. You must send two copies of your

disclosure statement to the office specified by
your federal supervisory agency no later than
March 31 following the calendar year for
which the loan data are compiled.
2. The completed disclosure statement must
be signed by an officer of your institution (for
both Part A and Part B on the final page of
each), certifying to the accuracy of the data.
3. You also must make your disclosure
statement available a® later than March 32
for inspection by the public a t your home
office and, if you have branch offices in other
MSAs, at one branch office in each of these
MSAs.
E. Data to Be Shown
1. Originations and purchases. Show the

data on home purchase and home
improvement loans that you originated or
purchased during the calendar year covered
by the disclosure statement. Report the data
on loan originations on Part A of the form
and the data on purchases on Part B of the
form even if the loans were subsequently
sold. If you have no loans to report in one of
the two parts, enter "none” in the column
provided for census tract numbers and enter
zeros in Columns A through E; this helps to
show that no part of an institution’s report
has been lost.
2. Number and total dollar amount. 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 the "total dollar
amount" if that is how you record such loans
on your books.

11

G. Geographic Itemization (breakdown of
loan data for each MSA or PMSA b y census
tract or county, and aggregation o f loan data
for the o atsideS A /P M S category)
1. MSA/PMSA. You must compile loan

data geographically for each MSA or PMSA
in which you have a hsme er branch office.
(See item 6 below for treatment of loans on
property outside susfe MSAa/PMSAs). Start a
new page for eadi MSA <sr PMSA if you
itemize data for more than one MSA/PMSA.
You must use the MSA/PMSA boundaries
(defined by the U.S. Office of Management
and Budget) that were in effect on January 1
of the calendar year for which the loan data
are compiled.
2. 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:
a. Is located in an area that is not divided
into census tracts on the U.S. Census
Bureau’s census tract outline maps (see item
3 below); or
b. Is located in a county with a population
of 30,000 or less.
To determine population, use the Census
Bureau’s PC80-1-A population series even if
the populations has increased above 30,000
since 1980.
3. 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.
Use the maps in the 1980 series even if more
current maps are available.

31694

Federal Register / Vol. 53, No. 161 / Friday, A ugust 19, 1988 / Rules and R egulations

4. 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 below in section H) and listing the
census tracts in numerical sequence. Do the
same for loans made in a given county.
5. Duplicate census tract numbers. If you
have a home or branch office in the New
York, NY PMSA, note that there are duplicate
census tract numbers in New York City.
When reporting, you must indicate the county
(by name or number) in addition to the tract
number for these census tracts.
6. 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 the loans by census tract or county.
(But you will have to itemize the data by type
of loan, as described in section H below.)
H. 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.
I. Report in Column A loans made for the
purpose of purchasing a residential dwelling
for 1 to 4 families if the loan is secured by a
lien and if it is insured or guaranteed by
FmHA or VA.
2. At your option, you may include 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.
3. Include refinancings if there is an
increase in the outstanding principal aside
from any increase related to closing costs or
unpaid finance charges.
4. Include any nonoccupant loans in this
column as well as in Column E.

5. Do not include FHA loans in Column A.
At your option, you may record FHA loans on
the form HMDA-2A, "Mortgage Loan
Statement for Optional Disclosure 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 a
residential dwelling for 1 to 4 families if the
loan is secured by a lien.
2. Include refinancings if there is an
increase in the outstanding principal aside
from any increase related to closing costs or
unpaid finance charges.
3. Include any nonoccupant conventional
loans in this column as well as in Column E.
4. At your option, you may include 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. Home improvement loans on 1to-4 family dwellings.
1. Report in Column C only loans that:
a. The borrowers have said are to be used
for repairing, rehabilitating, or remodeling
residential dwellings, and
b. Are recorded on your books as home
improvement loans.
2. For home equity lines of credit, you may
include in Column C that portion of the line
of credit that the borrower indicates will be
used for home improvement, at the time the
account is opened. Report only for the year in
which the line is established.
3. Include both secured and unsecured
loans.
4. You may include upaid finance charges
in the "total dollar amount" if that is how you
record such loans on your books.

12

5. Include any nonoccupant home
improvement loans in this column as well as
in Column E.
6. Do not report FHA loans in Column C. At
your option, you may report FHA loans on
form HMDA-2A, “Mortgage Loan Statement
for Optional Disclosure of FHA Loans."
Column D: Loans on multifamily dwellings
(5 or more families).
1. Report in Column D all loans on
dwellings for 5 or more families, including
both loans for home purchase and loans for
home improvement.
2. Do not report loans on individual
condominium or cooperative units; report
such loans in Columns A, B, or C.
3. Do not report FHA loans in Column D. At
your option, you may report FHA loans on
form HMDA-2A, "Mortgage Loan Statement
for Optional Disclosure of FHA Loans."
Column E: Nonoccupant loans on l-to-4
family dwellings.
1. 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.
2. In completing Column E of Part B, you
may assume that a purchased loan does not
fall within this “nonoccupant” category
unless your documents contain information to
the contrary.
3. Do not complete Column E for loans that
you report under section 2 (Loans on property
not located inMSAs/PMASs where
institution has horn© or branch offices), in
either Part A (Originations) or Part B
(Purchases).
©ILUM® CODS 8210-01-M

OMB No 71000090 Approval onpiros June 1900
This report Is requited by low (12 USC 2001-2810 end 12 CFR 203)

MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA-2

Control number (agency use only)

FOP! USE 0V: o MORTGAGE BANKING SUBSIDIARIES OF MOLDING COMPANIES
° CERTAIN SAVINGS AND LOAN SERVICE CORPORATIONS

Part A—-Origlin®(lions

I 1 I 1 I I I I 1 I ..1 L-LJ ■LJ

Report for Soaros mad© im 19___

Enforcomont agency tor reporting institution

Mowto

Nemo

MSA/PMSA number lor data reported In Section 1

AtfdisM "

——

NaaMaTPmni Oaaneaay

"

Ssctten 1—L®cno ©a pje$orty

Addroao

Nomo ol MSA/PMSA

toeated In MSA/PMSA sdWD fcnolMt^San Cmo ® fsssres @7 foTorcsft ©flSEso
Loano on 11o-4 Family Dwcillnga
Haas Stoehoso Looms

CENSUS TRagt (tn

Conventional

FmHA erafl VA
A

ooousnccj

Homo Improvement loons
C

0

cr
G0UN?V

G3 an?

No of
locrco

Totoi Dofiti Arpoanl
(ttxjuoenflU

No ol
Loans

Loans on Mulllfomlty Dnalllngs for
9 or Mora Fomlhoo
(homo purchases and
homo Improvement)
D

No ol
loans

TotGi Polio* Afipount
fthoucoraJn)

Total Dollar Amount
(thousands)

Wo. ol
Loons

Total Dollar Amount
(thousands)

Nonoccupant Loono
on Mo 4 Family Dwellings
fromcolumns A, 0 and C
E

Wo of
Loans

Total Dollar Amount
(thousands)

MSA/PMSA TOTAL

Section 2— Loareg @8 prepay «©3 tesetesfl In MSAo/FKSSAo ratters (notStultcfli St®§ teBO ®j Bsfestsfo eSIfaas

w m M M iM iW E im m E M iM M iiiiim

i

~

i

i

i

1

T ’-------- K T i i l i W l M i

1hereby certify to Iho accpr^y ol this report
Siq.mufe ol Cp.hiying Ollicer

Pilot Mama o! feoon Ciompteilng fora

Yelophono Number (include Aroo CoJo an! Eatennon)

Federal Register / Vol. 53, No. 161 / Friday, August 19, 1988 / Rules and Regulations

P&porttog Institution

31695

MORTGAGE LOAN DISCLOSURE STATEMENT, FORM HMDA-2

Control number (agency use only)

FOR USE BY: ® MORTGAGE BANKING SUBSIDIARIES OF HOLDING COMPANIES
® CERTAIN SAVINGS AND LOAN SERVICE CORPORATIONS

I I I I I I l l 111

Part B—Purchases Report for loans mad© In 19—
Reporting Institution

Enforcement agency for reporting Institution

___________________________________________ ___________________

___________________________________________ __________________

Noma

Nomo

Addrooo

Address

I I l -L-J

MSA/PMSA number for data reported In Section 1

Mams

Nomo ol Poront Company
SoeOto t — Loans ®m pmjserty tocatcwS la E3SA/PE3SA tstoro CastKlMateM too a tosao or feramsfti ofltso

Loans on 1-to-d Family Dwellings
Home fHwcbooo Loons
CENSUS TRACT (In numortcol caquenco)
or
COUNTY (mmo os number)

Gcm?cnttonal

FmMA end VA
A

Homo Improvement Loono
C

a

Tolel Collar Amount
(thouoondo)

MO. C3
Loom)

No ol
Loans

Total Do!lor Amount
•jlltouoands)

Loono on Ctfuttlffomlly D^®IHn®o tor
S or More Families
(homo purchases end
homo Improvomor 1)
D

EvO Ol
Loono

Yoto! Dotlar Am>oun(I
(thousands)

No of
Loono

Total Dollar Amount
(thousands)

Nonoccupont LoanD
fromcolumns A. 0 and C
E
Mo o?
Loono

Total Dollar Amount
(thousands)

MSA/PMSA TOTAL

SscWom 2—L®sro ®m iprojiorfly oksI tesoOcsC Cm taSAcfPKJSAo oto ro CjsoMImMom to o Cmno or feramsfia ®05l!®oo
m M iiiiiiiiiiiiiiiiiM M ii^

I hereby cetllly to Iho accuracy ol Un> report
Signoluro ol Corlllylng Olllcsr

DlLLCfJQ CODE 8210-01-C

i

....i ~

....................................i
Prtnl Nonesol Person Completing Form

i ...

r

r

• .

r j/ m m iiim iiiiiiiiiiiiiiiiiiiiiiiiii

Telephone Number (Include Aroo Code end Salonolon)

Federal Register / Vol. 53, No. 161 / Friday, A ugust 19, 1988 / R ules and R egulations
FORM HMDA-2A, "MORTGAGE LOAN
STATEMENT FOR OPTIONAL
DISCLOSURE OFFHA LOANS"

to the Office of Information and Regulatory
Affairs, Office of Management and Budget,
Washington, DC 20503.

This collection of information is not
required. Mortgage banking subsidiaries of
holding companies and certain savings and
loan associations may record their FHA loans
on this form if they wish to make that data
available to the public. Public reporting
burden for this collection of information is
estimated to vary from 10 to 50 hours per
response, with an average of 20 hours per
response, including time to gather and
maintain the data needed and to review
instructions and complete the information
collection. Send comments regarding this
burden estimate 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, Washington, DC 20551; and

INSTRUCTIONS TO MORTGAGE
BANKING SUBSIDIARIES OF HOLDING
COMPANIES AND TO CERTAIN SA VINGS
AND LOAN SER VICE CORPORA TIONS
A. Who M ay Use This Form

If you are the mortgage banking subsidiary
of a bank holding company or of a saving and
loan holding company, or if you are a savings
and loan service corporation that files the
HMDA-2 form, you are required to exclude
data on FHA Title I (home improvement) and
FHA Title II (home purchase) loans from your
form HMDA-2. At your option, however, you
may record FHA loans on form HMDA-2A
and make the form available to the public
along with your HMDA-2 disclosure
statement.

15

31*89'?'

B. Data to be Shown

1. For loans that you originate, see the
instructions that are provided for the HMDA2 form under section G (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 1-to4 family dwellings and multifamily dwellings
for 5 or more families.
2. For loans that you purchase, see the
instructions that are provided for the HMDA2 form under section G (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 1-to4 family dwellings and multifamily dwellings
for 5 or more families.

SSUJtCa COBS 6310-fl1=£3

M0OTGA6E LOAM STATEMENT FOR OPFSOMAL DISCLOSURE
O F FHA LDANSP FORM HMDA-2A

31@©i

OM0 No 7HJJMBJ8D Approval empires Juno 1BS0
Two report oolhorirod by lara(ia L>SC20012310 end 12CFf) 203)

FOR USE ®V: o MORTGAGE BANKING SUBSIDIARIES OF MOLDING COMPANIES
o CERTAIN SAVINGS AND LOAN SERVICE CORPORATIONS

piatra

Nanto

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Address

Warns ol MSAfPMSA

CJaroool Fbrcni Company

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FMA Lcano Purchaesd

FMA Loans Ortslnoled
CEWSU&TRACT (in numeyicci octsitencG)
C?
OOUMTV (nemo«B Rismacn

8mjwcrt?ssTi.S7iJ loema
2
Total Dc5J&3AfsvowtVl
Ma cf teens
CShojisasM^

WsmoPurcfiaMLoans
T
Total Dollar Amount
titiotsOEJato)

Ma of Loans

Bom* Pwchsca boons
3'
ToSal Be?)pi Arttgamf
Ma of Loans
(ttia«Ea5{iSs)

M8A/FMSA TOTAL

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HIMMIlIJMfflWIIIMBWMWillMMMMIIIWMtMWW '
d m iik ® s o ts

eai®-®i-c

I

I

-----1----------------r ~ ..........~l-----------------T

Bsots$>

Looms
4

fc2$.

Laeno

Total Bol|©y Amount

Federal Rebates1/ VdL 53, No. 161 / Friday, August 19, 1938* / Rules and Regulations

(R®€Qin$ of FRA Scans mad© 8n 1©___

tostltutloa
Enforcamont agancy for Ibis Institution
________________________________________________________________________________________________________________________ MSA/PMSA number tor data repotted In Section 1 ----------------------------

F ederal R egister / V ol. 53,

Appendix B—Federal Supervisory
Agencies
The following list indicates which federal
agency is responsible for enforcing
compliance by each class of covered
institutions. Questions should be directed,
and copies of your disclosure statements
should be sent, to the office specified below.
You may also obtain posters from these
agencies that you can use to inform the public
of the availability of your disclosure
statement.
National Banks
Comptroller of the Currency regional office
serving the district in which the national
bank is located.

No. 161 / Friday, August 19, 1988 / Rules and Regulations
State Member Banks and Mortgage Banking
Subsidiaries o f 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 b y FSLIC,
Mortgage Banking Subsidiaries of Savings
and Loan Holding Companies, Savings and
Loan Service Corporations, and Members o f
the FHLB System (except for State Savings
Banks insured b y FDIC)

17

31699

Federal Home Loan Bank Board
Supervisory Agent in the district in which the
institution is located.
Credit Unions

Office of Examination and Insurance,
National Credit Union Administration, 1770 G
Street NW., Washington, DC 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, August 11,1968.
William W. Wiles,
Secretary o f the Board.

[FR Doc. 83-18701 Filed 3-13-38; 8:45 am]

BILLING COB® 6210-01-M