Home Mortgage Disclosure Act
/ˈhoʊm ˈmɔːrɡɪdʒ dɪˈskloʊʒər ækt/
Definitions
- (n.) A U.S. federal law enacted in 1975 requiring financial institutions to publicly disclose data about home mortgage lending to ensure transparency and prevent discriminatory lending practices.
The Home Mortgage Disclosure Act mandates banks to report the racial and ethnic composition of mortgage applicants.
Forms
- home mortgage disclosure act
- home mortgage disclosure acts
Related terms
See also
Commentary
The HMDA is primarily referenced by its acronym in practice; ensure proper citation of the implementing regulation known as Regulation C.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.