HMDA EXAMS BUNDLE Questions with 100% Correct Answers

HMDA is.... - ANSWER requires certain financial institutions to collect, report, and disclose information about their mortgage lending activity Is subject to HMDA if it meets all of the following? - ANSWER - asset threshold from the preceding year - location test: preceding year, home or branch ...

Loan Application Register - ANSWER Document used to report home mortgage loans by financial institutions subject to HMDA reporting Depository Institution - ANSWER Bank, savings association, or credit union with assests OVER 44 million as of 12/31 of the preceding year, had 1 office in an MSA, org...

Government Monitoring Information (GMI) - ANSWER reported information about the race, sex, and ethnicity of the applicant(s). A Metropolitan Division (MD) - ANSWER is a county or group of counties within an Metropolitan Statistical Area (MSA) thatis urban, population over 2.5 million AND consists...

Purpose of HMDA: - ANSWER (1) Provide public with info that will help show whether financial institutions are serving the housing credit needs of the neighborhoods and communities in which they are located; AND (2) Help public officials in targeting public investments from the private sector to a...

What does HMDA stand for? - ANSWER Home Mortgage Disclosure Act The Home Mortgage Disclosure Act is regulation ____ - ANSWER C HDMA requires certain lenders to report data regarding its - ANSWER home purchase and home improvement loan orginated For HMDA purposes, home purchase loans include the ...