HMDA Q&As
If you are looking for ways to explain your HMDA data to the public - or simply to explain what HMDA data is - the regulatory agencies have provided some free help in the form of the recently released Q&As on HMDA. The Q&As provide some ready answers - or scripts - for questions posed by reporters and members of the public. In particular, there are some useful responses to the question of what HMDA data shows and what its limitations are. There is also a suggested response to why some borrowers pay more than others for similar products. This question will come up from HMDA data and will get hot again when FACT Act rules on risk-based pricing notices take effect.
Copyright © 2005 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 4, 4/05
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