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FEDERAL RESERVE BANK
OF NEW YORK
[
Circular No. 9234
January 18, 1982
~|
HOME MORTGAGE DISCLOSURE
Finalization of HMDA-1 Disclosure and Reporting Form
To All Institutions Subject to the Home Mortgage Disclosure Act,
and Others Concerned, in the Second Federal Reserve District:
The Board of Governors of the Federal Reserve System has amended its Regulation C, “ Home
Mortgage Disclosure,” in order to publish a final version of its HMDA-1 disclosure and reporting
form, as required under the Home Mortgage Disclosure Act. The form, entitled “ Mortgage Loan
Disclosure Statement,” which constitutes Appendix C to Regulation C, is to be used by all
depository institutions covered by the Board’s regulation for reporting their mortgage and home
improvement loan data, beginning with data for the year 1981.
Enclosed is a copy of the text of the amendment to Regulation C, which has been reprinted from
the Federal Register. Also enclosed — for State member banks — is a copy of the HMD A -1 form,
which can be used for reproduction purposes. Other depository institutions should be able to obtain a
copy of the form from their own supervisory agency.
Questions regarding this matter may be directed to our Consumer Affairs and Bank Regulations
Department (Tel. No. 212-791-5914).
A nthony
M.
S olom on,
President.
Board of Governors of the Federal Reserve System
HOME MORTGAGE DISCLOSURE
AMENDMENT TO REGULATION C
(effective December 30, 1981)
FEDERAL RESERVE SYSTEM
12CFR Part 203
{Reg. C; Docket No. R-0350]
Home Mortgage Disclosure; Final
HMDA-1 Form
A G EN C Y ; Board of Governors of the
Federal R eserve System.
A CTIO N : Final rule.
The Board is publishing the
final version of its HMDA-1 disclosure
and reporting form, required under the
Hom e Mortgage D isclosure Act. This
format is to be used by all depository
institutions covered by Regulation C for
reporting their mortgage and home
im provement loan data, beginning with
data for the calendar year 1981. The
form constitutes A ppendix C to the
regulation.
e f f e c t i v e d a t e : D ecem ber 30,1981.
su m m a ry:
FO R FU R T H ER INFORMATION CO N TACT:
John C. W ood, Senior Attorney, or
Claudia J. Yarus, Staff Attorney,
D ivision of Consumer and Community
Affairs, Board of Governors of the
Federal Reserve System , W ashington,
D.C. 20551 (202-452-3667).
S U P P LEM EN TA R Y INFORM ATION: (1) The
Board is publishing the Final version of
its HM DA-1 form. A proposed version
of this form w as published in the
Federal Register on February 10, 1981
(46 FR 11780), as part of the Board s
proposal to revise Regulation C (12 CFR
Part 203) im plementing the Home
[Enc. Cir. No. 9234]
Mortgage D isclosure Act (12 U .S .C .
2801-2811). The Board published a final,
revised version of Regulation C that
becam e effective on August 11, 1981 (46
FR 40679). Publication of the final
version of the HM DA-1 form w as
deferred, how ever, becau se o f the forms
review by the O ffice of M anagement
and Budget required under the
Paperwork Reduction Act (Pub. L. 96511). OMB has now review ed and
approved the form.
The HMDA-1 form is the prescribed
standard format that all depository
insitutions subject to Regulation C must
use for disclosing and reporting
mortgage and home improvement loan
data, beginning with data on loans made
or purchased in calendar year 1981.
Depository institutions may photocopy
the HMDA-1 form that will be provided
through federal financial supervisory
agencies, or may print their own report
forms so long as they use the prescribed
format. If they use computer-generated
reports, they may adapt the form for
computer print-out as necessary, so long
as the fo rm a t conform s to the HMDA-1
form.
Copies of the form will be made
available to all state member banks of
the Federal Reserve System through the
Federal Reserve Banks. The foim will be
m ade availab le to all other depository
institutions through the nearest regional
office of their federal supervisory
agency— the Federal Home Loan Bank
Eoard. the Comptroller of the Currency,
the Federal D eposit Insurance
Corporation, or the N ational Credit
Union Administration.
It is contem plated that the Federal
R eserve Board w ill distribute copies of
H M D A -1 to the other agencies d u rin g
the first tw o w eek s in January 1982, for
further distribution by each agency to
the depository institutions subject to its
jurisdiction.
D epository institutions should contact
their ow n supervisory agency, not the
Federal R eserve, for information about
distribution.
The HMDA-1 form is identical in
substance to the proposed version that
was pubiished in February 1981; the
instructions have been expanded to
assist users. This revised form is also
sim ilar to the original form in Regulation
C, the difference being that the “Total
Residential Mortgage Loans" column in
the original form has been deleted.
The addition of the HMDA-1 form to
Regulation C d oes not im pose any new
requirements: it merely provides the
v eh icle for fulfilling requirements
already set forth in the regulation.
Accordingly, the form becom es effective
im m ediately, and is not subject to a
d elayed effective date under 5 U.S.C.
553(d).
(2) Pursuant to the authority granted
in 12 U.S.C. 2803(e) and 2804(a). the
Board hereby am ends Regulation C (12
CFR Part 203) by adding Appendix C, to
read as follows:
PRIN TED IN NEW Y O R K . FROM F E D E R A L R E G IS T E R . V O L. 47. NO. 4
PART 203—HOME MORTGAGE
DISCLOSURES
A ppendix C
MORTGAGE LOAN DISCLOSURE STATEMENT
WHO MUST FILE.
1. This form must be filed by depository Institutions that
a. have assets of more than $10 million,
b. make first lien loans on l-to-4 family residential real
property, and
c are located In standard metropolitan statistical areas
(SMSAs).
2. Institutions that have been exempted by the Federal
Reserve Board because they are covered by a similar
state mortgage loan disclosure law will Instead complete
and file the disclosure form required by their state law.
WHEN AND WHERE TO FILL
1. The Institution must send two copies of the disclosure
statement to the regional office of Its federal enforcement
agency no later than March 31 following the calendar year
for which the loan data were compiled.
2. The Institution also must make Its disclosure statement
available no later than March 31 for examination by the
public.
INSTRUCTIONS
FOR COMPLETION OF FORM
the Institution acting In a fiduciary capacity (by the In
stitution's trust department, for example); loans on unim
proved land; and refinancings of loans originated by the
Institution that Involve no Increase In the outstanding
principal (provided the parties to the loan remain the
same).
TYPE-OF-LOAN ITEMIZATION (Itemization of each
geographic grouping Into loan categories).
1.
FHA, FmHA, and VA loana on 1 to-4 family dwellings Thlk
category Includes loans that are seoured by liens (both
first and (unlor liens) and that are made for the purpose of
purchasing residential real property and that have FHA,
FmHA, and VA Insurance or guarantee It Includes refinan
cings (but see item 2 under DATA TO BF. EXCLUDED). It
may Incluoa, at an Institution's option, first lien loans for
home Improvement purposes If the Institution normally
classifie s first Hen loans as purchase loans It does not
include FHA Title I loans, which are to be entered In
column C.
G E O G R A P H IC ITEMIZATION (Grouping of loan data by
SM SA, census tract or county, and outsIde-SMSA).
1. Loan data era to be Itemized separately for each SMSA In
which the Institution has a home or branch office. A
separata page must be used for each SMSA. (See Item 4
below for treatment of loans on property outside such
SM SAs.) The Institution must use the SMSA boundaries
as defined by the U S. Department of Commerce on
January 1 of the calendar year for which the loan data are
complied.
2. Loan data on property within an SMSA shall be further
Itemized by the census tract In which the property Is
located, except that the loan data shall be Itemized by
county Instead of census tract when the property to which
the loan relates la located
2 Column 6
Other home purchase loam ("conventional" loans) on
l-to-4 family dwellings. This category Includes loans
secured by liens (both first and |unlor liens) and made for
the purpose of purchasing residential real properly, other
than FHA, FmHA. and VA loans It Includes refinancings
(but see Item 2 under DATA TO BE EXCLUDED). It may In
clude, at an Institution's option, first lien loans for home
Improvemer t purposes If the Institution normally
classifies fl st lien loans as purchase loans.
a. In an area that Is not divided Into census tracts on the
Cen su s Bureau's census tract outline maps; or
b. In a county with a population of 30,000 or less. (Note:
To determine population, uee the C en su s Bureau's
PC80-1-A population aeries. If that series Is not yet
available for a particular county, use the PHC6C-V
series.)
3.
3. To determine census tract numbers and SMSA bound
aries, the Institution should consult the C en su s Bureau's
ce n su s tract outline maps.
(The Institution should use the Census Bureau's PHC60-2
series for the 1960 census If It Is available for the par
ticular SMSA. Until the series Ib available, the Institution
may use the C en su s Bureau's PHC(1) series maps for
1970, or It may use 1960 data from the Cen su s Bureau
(such a s the GBF/DIME flies) or from a private publisher.
2. Data for each ca.agory on the statement must show both
' the numbe' of loans and the total dollar amount of loans.
3. Data for loans originated by the Institution are to be
shown In Part A and data for loans purchased in Part B.
4. Dollar amounts are to oe rounded to the nearest thousand
($500 will be rounded up), and shown In terms of
thousands.
DATA TO BE EXCLUDED.
1. Do not report loans that, although secured by real estate,
are made for purpoaaa other then the purchase of residen
tial real estate or home Improvement (for example, a loan
secured by residential real property for purposes of finan
cing education, a vacation, or business operations).
2. Also exclude from disclosure: construction loans and
other temporary financing: loans made or purchased by
The Institution should Indicate on the statement whether
It has used 1970 or 1960 census tracts. An Institution us
ing 1970 cen su s tracts for a given 6MSA must use them
for the entire calendar year, even If the PHC60-2 maps for
that SMSA become available during the year.)
4. If the property to which the loan relates Is located outalde
SMSAs In which the reporting Institution has a home or
branch office, or outside any SMSA, the loan data should
be listed as an aggregate sum In Section 2 of the form; no
geographic Itemization Is necessary.
5. Institutions that have a home or branch office In the New
York Clty/New Jersey SMSA should note that there are
duplicate ce n su s tract numbers In Now York City. There
may also bo duplicate numbers In other SM SAs. When
reporting loan data relating to property In these SM SAs,
the Institutions must Indicate the county name In addition
to the tract number.
Column C:
Home Improvement loans on 1 to-4 family dwellings This
category Is limited to any loan, Including a refinancing,
that Is to be used for repairing, rehabilitating, or remodel
ing a residential dwelling end that Is recorded on the In
stitution's books as a home Improvement loan. It Includes
both secured and unsecured loans
DATA TO BE SHOWN.
1. The Institution must show the data on residential mort
gage and home Improvement loans that were originated
and purchased during the calendar year covered by the
statement.
Column A:
4.
Column D:
Loana on multi-family dwellings (5 or more families). This
category Includes home purchase and home Improvement
loan s—that Is, It covers the same types of loans as are
covered In columns A, B, and C. The difference Is that
those colum ns relate to loans on 1-to-4 family dwellings,
whereas column D relates to loans on dwellings for 5 or
more families.
5 Column E:
Non occupant loana on 1 to-4 family dwoHIngs. 1hl3 Is ar.
addendum category for repor*lng those home purchase
and home Improvement loans on 1to-4 family dwellings
(recorded In columns A, B, and C) that were made to a
borrower who did not, at the time of the loan application.
Intend to use the property as a principal dwelling A
depository Institution may assume, unless Its records con
tain Information to the contrary, that a loan It purchases
does not fall within this category.
r«0 HMD*1
MORTGAGE LOAN DISCLO SURE STATEM ENT
OMB No MOOOGOG
Append
S c p Ia m M i 1904
Report for loena made In 10____
Thla report la required by law (12 u S C 2801-2811 and 12 CFR 203).
Depoaltory Inatltutlon
Enlorcamenl Agency lor thla Inalltutlon
______ ______________________________________________._______ ___________________________________________________________________ Cenaua tract aeriee u a e d :_________ 1070 a^rlea _____ 1080 aerloa
N*m«
Name
__________ ____________________________________________-_- __.
ADOKM
______________________________________________________________ SMSA (location of properly)_____________________________________
*OOHI
PART A—ORIGINATIONS
SECTION 1-LO A N S ON PROPERTY LOCATED WITHIN THOSE SMSAe IN WHICH INSTITUTION HAS HOME OR BRANCH OFFICES
Loene on 1 • to • 4 lamlly dwelllnge
CENSUS TRACT (In numerical
aequence) where properly located
or
COUNTY (name)
where properly located
Home Purchaae Loena
FHA, FmHA, and VA
Other fConvent lonel")
A
No ot
Loena
Home Improvement Loena
No ot
Loena
Principal Amount
(Thouaanda)
No. ot
Loena
Principal Amount
(Thouaanda)
SMSA TOTAL
SECTION 2 -LO A N S ON ALL PROPERTY LOCATEO ELSEWHERE
BILLING COOE 6210-01-C
Addendum Item:
Non-occupant Loena on
1 - to - 4 lamlly dwelllnga
D
C
B
Principal Amount
(Thouaanda)
Loena on Multi family
Dwelllnga lor S or more
tarnlllea (home purchaaca
and home Improvement)
No ot
Loena
Principal Amount
(Thouaanda)
E
No. of
Loena
Principal Amount
(Thouaanda)
PART B—PURCHASES
SECTION 1-DATA FOR PROPERTY LOCATED WITHIN THOSE SMSAs IN WHICH INSTITUTION HAS HOME OR BRANCH OFFICES
Loana on 1 • to ■4 family dwellings
CENSUS TRACT (In numerical
sequence) where property located
or
COUNTY (ntmo)
where property located
Home Purchase Loans
FHA, FmHA, and VA
Other ("Conventional")
A
No of
Loana
Home Improvement Loana
B
Principal Amount
(Thousands)
No. of
Loana
Principal Amount
(Thousands)
Principal Amount
(Thousands)
SECTION 2-LO A N S ON ALL PROPERTY LOCATED ELSEWHERE
|FR L)o<: 82-370 Filed 1-&-82: 8.45 am |
BILLING CODE 6210-01-M
Addendum Item:
Non-occupant Loana on
1 • to • 4 family dwellings
D
C
No. of
Loans
SMSA TOTAL
By order of the Board of Governors, December 30, 1981.
William W. Wiles,
Secretary of the Board.
Loans on Multi-family
Dwellings for S or more
families (home purchases
and home Improvement)
No. of
Loans
Principal Amount
(Thousands)
E
No. of
Loana
Principal Amount
(Thousands)
MORTGAGE LOAN DISCLOSURE STATEMENT
OMQN*
A p o°0 **l M ytrM 1
Report lor loans made In 19
This report It required by lew (12 U.S.C. 2901-2811 end 12 CFR 203).
Depository Institution
Enforcement Agency for this Institution
Hm
W>m>
AWi ll
~
Census tract series used; ____ 1970 series _____ 1900 series
SMSA (location of property)______________________________
Addr*M
PART A-ORIGINATIONS
SECTION 1—LOANS ON PROPERTY LOCATED WITHIN THOSE SMSAs IN WHICH INSTITUTION HAS HOME OR BRANCH OFFICES
Loans on 1 - to • 4 family dwellings
CENSUS TRACT (In numerical
sequence) where properly located
Home Purchase Loans
FHA, FmHA, and VA
or
Home Improvement Loans
Other {"Conventional")
B
A
COUNTY (name)
where properly located
No. of
Loans
Principal Amount
(Thousands)
No. of
Loans
Principal Amount
(Thousands)
Loans on Multi-family
Dwellings for 5 or more
families (home purchases
and home Improvement)
D
C
No. of
Loans
Principal Amount
(Thousands)
Addendum Item:
Non-occupant Loans on
1 • to - 4 family dweWIngs
No. of
Loans
Principal Amount
(Thousands)
E
No. of
Loans
Principal Amount
(Thousands)
SMSA TOTAL
SECTION 2—LOANS ON ALL PROPERTY LOCATED ELSEWHERE
SECTION 1 -D A T A FOR PROPERTY LOCATED WITHIN THOSE SMSAs IN WHICH INSTITUTION HAS HOME OR BRANCH OFFICES
Loans on 1 - to - 4 family dwellings
CENSUS TRACT (In numerical
sequence) where property located
or
COUNTY (name)
where property located
Home Purchase Loans
Home Improvement Loans
FHA, FmHA. and VA
Other ("Conventional")
A
No. of
Loans
B
Principal Amount
(Thousands)
No. ol
Loans
Principal Amount
(Thousands)
C
No. of
Loans
Principal Amount
(Thousands)
|>MSA TOTAL
Loans on Multi-family
Dwellings for 5 or more
families (home purchases
and home Improvement)
SECTION 2 -L O A N S ON ALL PROPERTY LOCATED ELSEWHERE
Addendum Item:
Non-occupant Loans on
1 * to - 4 family dwellings
D
No. of
Loans
Principal Amount
(Thousands)
E
No . of
Loans
Principal Amount
(Thousands)
l a
t
MORTGAGE LOAN DISCLOSURE STATEMENT
• . have assets of more than $10 million,
2. Also exclude from disclosure: construction loans and
other temporary financing; loans made or purchased by
the Institution acting in a fiduciary capacity (by the In
stitution's trust department, for example); loans on unim
proved land; and refinancings of loans originated by the
Institution that Involve no Increase In the outstanding
principal (provided the parties to the loan remain the
same).
b. make first lien loans on 1-to-4 family residential real
property, and
G EO G R A P H IC ITEMIZATION (Grouping of loan data by
SM SA, census tract or county, and outside SMSA).
c. are located In standard metropolitan statistical areas
(SMSAs).
1. Loan data are to be Itemized separately for each SMSA In
which tho Institution has a home or branch office. A
separato page must be used for each SMSA. (Soe Horn 4
below lo t treatm enf of loans on property outside such
SMSAs.) The institution must use the SMSA boundaries
as defined by the U.S. Department of Commerce on
January 1 of the calendar year for which Ihe loan data are
com piled
W H O MUST FILE.
1. This form must be filed by depository institutions that
2. Institutions that have been exempted by the Federal
Reserve Board because they are covered by a similar
state mortgage loan disclosure law will Instead complete
and file the disclosure form required by their state law.
W H E N AND WHERE TO FILE.
1. The Institution must send two copies of the disclosure
statem ent to the regional office of Its federal enforcement
agency no later than March 31 following the calendar year
for which the loan data were compiled.
2. The Institution also must make Its disclosure statement
available no later than March 31 for examination by the
public.
»
INSTRUCTIONS
FOR COMPLETION OF FORM
DATA TO BE SHOW N.
1. The Institution must show the data on residential mort
gage and home improvement loans that were originated
and purchased during the calendar year covered by the
statem ent.
2. Data for each category on the statement must show both
the number of loans and the total dollar amount of loans.
3. Data for loans originated by the Institution are to be
shown In Part A and data for loans purchased In Pari B4
4. Dollar amounts are to be rounded to the nearest Ihousand
($500 will be rounded up), and shown In terms of
thousands.
DATA TO BE EXCLUDED.
1. Do not report loans that, although secured by real estate,
are mado lo r p u rp o s e s o th e r th a n Iho purchase of residen
tial real estate or home Improvement (for example, a loan
secured by resldenlla! real properly for purposes of finan
cing education, a vacation, or business operations).
TYPE OF-LOAN ITEMIZATION (Itemization of each
geographic grouping Into loan categories).
1. Column A:
FHA, FmHA, and VA loans on 1-to-4 fam ily dwellings. Thts
category includes loans that are secured by liens (both
first and junior liens) and that are made for the purpose of
purchasing residential real property and that have FHA,
FmHA, and VA Insurance or guarantee. It Includes refinan
cings (but see Item 2 under DATA TO BE EXCLUDED). It
may Include, at an Institution’s option, first Hen loans for
home Improvement purposes If the Institution normally
classifies first lien loans as purchase loans. It does not
Include FHA Title I loans, which are to be entered In
column C.
2. Column B;
Other home purchase loans C'conventloner loans) on
1-to-4 family dwellings. This category Includes loans
2. Loan data on property within an SMSA shall be further
Item ized by the census fract In which the properly Is
located, except that the loan data shall be Itemized by
county Instead of census tract when the property to which
the loan relates Is located
a. In an area that Is not divided Into census tracts on the
Census Bureau’s census tract outline maps; o r
b. In a county with a population of 30,000 or less. (Note;
To determ ine population, use the Census Bureau's
PC80-1-A population series. If that series Is not yet
available for a particular county, use the PHC80-V
series.)
3. To determ ine census tract numbers and SMSA bound
aries, the Institution should consult the Census Bureau's
census tract outline maps.
(The Institution should use the Census Bureau's PHC80-2
series for the 1980 census If It Is available for the par
ticular SMSA. Until the series Is available, the institution
m ay use the Census Bureau's PHC(1) series maps for
1970, or It may use 1980 data from the Census Bureau
(such as the GBFfDIME files) or from a private publisher.
The institution should Indicate on the statement whether
It has used 1970 or 1980 census tracts. An Institution us
ing 1970 census tracts for a given SMSA must use them
for the entire calendar year, even If the PHC80 2 maps for
that SMSA become available during the year.)
secured by liens (both first and Junior liens) and made for
Ihe purpose of purchasing residential real property, other
than FHA, FmHA, and VA loans. It includes refinancings
(but see Item 2 under DATA TO BE EXCLUDED). It may In
clude, at an Institution's option, first lien loans for home
Improvement purposes If the Institution normally
classifies first lien loans as purchase loans.
3. Column C:
Home Improvement loans on 1-to-4 fam ily dwellings. This
celegory Is limited to any loan, including a refinancing,
that Is to be used for repairing, rehabilitating, or remodel
ing a residential dwelling and that Is recorded on the In
stitution’s books as a home improvement loan. It includes
both secured and unsecured loans.
4. Column D;
Loans on multi family dwellings (5 or more families). This
category includes home purchase and home Improvement
loans— that Is, it covers the same types of loans as are
covered in columns A, B, and C. The difference Is that
those columns relate to loans on 1-to-4 family dwellings,
whereas column D relates to loans on dwellings for 5 or
more families.
5. Column E:
4. If the properly to which Ihe loan relates Is located outside
SMSAs In which the reporting Institution has a home or
branch offico, or outside any SMSA, the loan data should
be listed as an aggregate sum In Section 2 of the form; no
geographic Itemization Is necessary.
5. Institutions that have a home or branch office In the New
York City/New Jersey SMSA should note that there are
duplicate census tract numbers In New York City. There
may also be duplicate numbers In other SMSAs. When
reporting loan data relating lo property In these SMSAs,
the Institutions must Indicate the county name In addition
to the tract mimber.
Non occupant loans on 1-to-4 family dwellings. This Is an
addendum calegory for reporting those home purchase
and home improvement loans on 1-to-4 family dwellings
(recorded in columns A, B, and C) that were made to a
borrower who did not, at the time of the loan application,
Intend to use the property as a principal dwelling A
@FedFRASER