What is the purpose of the HMDA?

What is the purpose of the HMDA? The Home Mortgage Disclosure Act (HMDA) is a law passed in 1975 that mandates mortgage lenders maintain certain records. The goal is to create greater transparency and to protect borrowers in the residential mortgage market. What are the 3 purposes of HMDA? What are two uses of HMDA … Continue reading What is the purpose of the HMDA?