HOME MORTGAGE DISCLOSURE ACT DATA

The Home Mortgage Disclosure Act (HMDA) data available through PHMC's Community Health Data Base describe the flow of funds to homeowners seeking to purchase or refinance mortgages or obtain funds to improve their homes.

Through a partnership with the Philadelphia Indicators Project, the Community Health Data Base makes these data available to members and affiliates interested in the economic health of communities. HMDA data are routinely collected by lenders and submitted to the Federal Financial Institutions Examination Council (FFIEC), http://www.ffiec.gov. The FFIEC processes the data and returns a set of standard reports to banking regulatory agencies. The most recent data are from 2000 and are available at the census tract level for Bucks, Chester, Delaware, Montgomery and Philadelphia counties.

HMDA indicators include:

• Number of applications by type (i.e., conventional, FHA, VA) and purpose (i.e., purchase, refinance, home improvement)
• Applications by race and income of borrower
• Action taken by the lenders on each application

HMDA data are particularly useful to track the flow of funds into communities and to gain a comprehension of the extent to which groups of borrowers and communities receive their fair share of home mortgages.

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