Opportunities and Issues in using HMDA Data

Posted: 15 Nov 2007

See all articles by Robert B. Avery

Robert B. Avery

Board of Governors of the Federal Reserve System

Kenneth P. Brevoort

Board of Governors of the Federal Reserve System

Glenn B. Canner

Board of Governors of the Federal Reserve System

Abstract

Since 1975, the Home Mortgage Disclosure Act (HMDA) has required most mortgage lending institutions to disclose to the public information about the home loans they originate or purchase during a calendar year. In using these data, however, researchers need to be aware of a number of issues and potential problems that characterize HMDA. This article provides a comprehensive enumeration of these issues, focusing on practical problems that can potentially influence choices researchers make in using the data or in interpreting the findings. The article also includes an illustrative example of how the data that is reported in HMDA can be used to gain a better understanding of trends and practices in the home mortgage market.

Keywords: HMDA, Home Morgage Disclosure Act, mortgage lending, home loans

JEL Classification: R11, R14, R21, R31, R38

Suggested Citation

Avery, Robert B. and Brevoort, Kenneth and Canner, Glenn B., Opportunities and Issues in using HMDA Data. Journal of Real Estate Research, Vol. 29, No. 4, 2007, Available at SSRN: https://ssrn.com/abstract=1030025

Robert B. Avery (Contact Author)

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States
202-452-2906 (Phone)
202-452-5295 (Fax)

Kenneth Brevoort

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Glenn B. Canner

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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