Description
Home Mortgage Disclosure Act (HMDA) Notice Poster
Help meet applicable Home Mortgage Disclosure Act notice requirements with the Home Mortgage Disclosure Act (HMDA) Notice Poster. This 11 x 17-inch notice informs the public about the availability of HMDA mortgage lending data and provides a highly visible posting for covered financial institutions.
The Home Mortgage Disclosure Act and its implementing regulation, Regulation C, require many covered financial institutions to collect, report, and disclose information about their residential mortgage lending activity.
What Is the Home Mortgage Disclosure Act?
The Home Mortgage Disclosure Act (HMDA) is a federal law that requires many financial institutions to maintain, report, and publicly disclose information about mortgage lending activity.
HMDA data help provide information about whether financial institutions are serving the housing needs of their communities and provide public officials and others with information that can be used to evaluate residential mortgage lending patterns.
What Is Regulation C?
The Consumer Financial Protection Bureau implements HMDA through Regulation C, 12 CFR Part 1003. Regulation C establishes requirements concerning the collection, reporting, disclosure, and retention of certain mortgage lending information.
Financial institutions covered by HMDA can include banks, savings associations, credit unions, and mortgage lenders that meet the applicable coverage requirements.
What Information Is Included in HMDA Data?
HMDA data provide information concerning residential mortgage lending activity. Depending on the applicable reporting requirements, publicly available HMDA information can include data relating to:
- Mortgage loan applications and originations
- Geographic distribution of loans and applications
- Loan approvals and denials
- Applicant and borrower income
- Applicant and borrower race and ethnicity
- Applicant and borrower sex and age
- Loan and property characteristics
- Other mortgage lending information required under Regulation C
What Is the HMDA Lobby Posting Requirement?
Under 12 CFR 1003.5(e), a covered financial institution must post a general notice about the availability of its HMDA data in the lobby of its home office and each branch office physically located in a Metropolitan Statistical Area (MSA) or Metropolitan Division (MD).
The notice must clearly communicate that the institution's HMDA data are available online through the Consumer Financial Protection Bureau.
Where Should the HMDA Notice Be Posted?
The HMDA notice should be displayed in the lobby of the financial institution's home office and in applicable branch offices physically located in an MSA or Metropolitan Division.
The notice should be placed where members of the public can readily see and read it during normal business operations.
Where Can Consumers Find HMDA Data?
HMDA data are made available to the public online through the Consumer Financial Protection Bureau and the Federal Financial Institutions Examination Council's HMDA platform.
The publicly available data allow consumers, researchers, financial institutions, regulators, community organizations, and other interested parties to review mortgage lending information reported under HMDA.
HMDA Disclosure Statement Requirements
Under 12 CFR 1003.5(b), the Federal Financial Institutions Examination Council makes available a disclosure statement based on the HMDA data submitted by each financial institution for the preceding calendar year.
No later than three business days after receiving notice that its disclosure statement is available, a covered financial institution must make available to the public upon request a written notice explaining that the institution's disclosure statement may be obtained through the Consumer Financial Protection Bureau's website.
HMDA Modified Loan/Application Register
Covered financial institutions must also make available to the public upon request a written notice explaining that the institution's modified Loan/Application Register (LAR) can be obtained through the Consumer Financial Protection Bureau's website.
The publicly available LAR is modified by the Bureau to protect applicant and borrower privacy while providing public access to mortgage lending information.
How Long Must HMDA Notices Be Available?
Regulation C establishes retention periods for certain HMDA notices. The written notice regarding the modified Loan/Application Register must generally be made available for three years.
The written notice regarding the institution's HMDA disclosure statement must generally be made available for five years.
Does HMDA Require Financial Institutions to Post Their Entire Loan Register?
No. Covered financial institutions are not required to physically post their entire HMDA Loan/Application Register or disclosure statement in the lobby.
Instead, Regulation C requires the applicable lobby notice informing the public that HMDA data are available online through the Consumer Financial Protection Bureau.
Who Must Comply With HMDA?
Not every bank, credit union, mortgage company, or other financial institution is automatically covered by HMDA. Regulation C establishes specific institutional and transactional coverage requirements that determine whether an institution must collect and report HMDA data.
Financial institutions should evaluate their current size, location, lending activity, loan volume, and other applicable Regulation C criteria to determine whether HMDA requirements apply.
Is the HMDA Notice a Required Posting?
Yes, for financial institutions covered by the applicable Regulation C posting requirement. Under 12 CFR 1003.5(e), a covered financial institution must post a general notice about the availability of its HMDA data in the lobby of its home office and each applicable branch office physically located in an MSA or Metropolitan Division.
The notice must clearly convey that the institution's HMDA data are available through the Consumer Financial Protection Bureau. Financial institutions should ensure that the wording used on their HMDA notice satisfies current Regulation C requirements.
Keep HMDA Compliance Information Current
HMDA coverage thresholds, reporting requirements, regulatory interpretations, and disclosure requirements can change. Financial institutions should periodically review current Regulation C requirements and official Consumer Financial Protection Bureau guidance when determining their HMDA obligations.
HMDA Notice Poster Specifications
- 11"W x 17"H
- Portrait orientation
- Printed in full color
- Laminated with high-quality laminate
- Designed for applicable HMDA lobby posting requirements
Federal Workplace Posting and Compliance Resources
Labor Law Compliance Center provides businesses and financial institutions with federal and state labor law posters, specialty compliance notices, workplace safety posters, and compliance resources throughout the United States. Browse our Federal Specialty Posters for additional federal workplace and industry-specific compliance notices.
