The Home Mortgage Disclosure Act (HMDA)

Congress enacted the Home Mortgage Disclosure Act (HMDA) in 1975 to discourage creditors from denying loans to qualified applicants because of the applicants' race, a practice also known as"redlining," and to encourage lending institutions to provide loans to consumers in their communities. HMDA requires covered institutions to submit reports about their mortgage lending activities in order to help citizens and public officials determine whether community housing needs are being met. This professional development online course will review the background of HMDA and important amendments to its provisions, the legal and ethical importance of its reporting and disclosure requirements, as well as new standards for entities and individuals as a result of changes mandated by the Dodd-Frank Act.