Enacted by Congress in 1975, the Home Mortgage Disclosure Act (HMDA) requires banks, savings and loan associations and other financial institutions to publicly report detailed data on their home lending activity. Over the years, community organizations and concerned citizens have used HMDA data as a tool to determine which banks are lending in their community.
Data disclosure improvements are recommended to enhance HMDA data. The following information is essential in determining if borrowers have equal access to fairly-priced credit and capital:

• Price information on all HMDA loans expressed as APR or price spread; not limiting this price information to high cost loans.
• Credit score information.
• Points and fees.
• Type of loan (adjustable-rate mortgages or fixed-rate).
• Type of loan (fully amortizing or negative amortization).