Turn to the last page of your standard loan application (The 1003). In the very last section you will it is titled "Government Monitoring". The data collected on this application is gathered and released as part of the Home Mortgage Disclosure Act (HMDA), pronounced Hum-Da.

The Home Mortgage Disclosure Act (HMDA), enacted by Congress in 1975 and implemented by the Federal Reserve Board's Regulation C, requires lending institutions to report public loan data. HMDA allows the government to analyze trends and disparities in lending practices. This data is released every year and summarized by Metropolitan Statistical Area.

More than 7 years after its publication,Unequal Burden: Income and Racial Disparities in Subprime Lending in America, still remains an interesting document as to disparities in lending. To read the full report please visit the link below.

http://www.huduser.org/publications/fairhsg/unequal.html

This information is to be collected for the sole purpose of monitoring.

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