Which data does HMDA include?

Which data does HMDA include?

• A. Loan amount, property type, loan purpose, applicant demographics (optional to disclose)
• B. Borrower credit scores only
• C. Loan repayment schedule only
• D. Annual income of borrower only

Answer: (A)

HMDA aims to track mortgage lending at the loan level to monitor access to credit and detect potential fair-lending issues. The data it collects include the loan amount, the type of property securing the loan, the loan purpose (such as a purchase or refinance), and the applicant’s demographic information (race, ethnicity, sex, and income). This combination lets regulators analyze not just the size and nature of loans, but also who is receiving them and whether different groups are being treated equitably. The other options focus on a single narrow element—credit scores, repayment schedules, or income alone—which doesn’t capture the full scope of HMDA’s data collection.

HMDA aims to track mortgage lending at the loan level to monitor access to credit and detect potential fair-lending issues. The data it collects include the loan amount, the type of property securing the loan, the loan purpose (such as a purchase or refinance), and the applicant’s demographic information (race, ethnicity, sex, and income). This combination lets regulators analyze not just the size and nature of loans, but also who is receiving them and whether different groups are being treated equitably. The other options focus on a single narrow element—credit scores, repayment schedules, or income alone—which doesn’t capture the full scope of HMDA’s data collection.