Changes to public disclosure tables to adjust for revisions in Regulation C.The Federal Reserve Board announced on December 10, 2004, changes to the tables used to publicly release data collected by lenders under the Home Mortgage Disclosure Act (HMDA HMDA Hexamethylene Diamine (chemistry) HMDA Hitchhiker Motorized Door Assembly HMDA High Mobility DGM Assemblage HMDA Home Mortgage Disclosure Act of 1974 ), which is implemented by the Board's Regulation C (Home Mortgage Disclosure). The formats for some of the existing disclosure tables have been revised, one set of existing tables has been deleted, and new tables have been added. The changes reflect revisions to Regulation C, adopted by the Board in 2002, that require lenders to collect new data beginning January 1, 2004. These revisions to the public disclosure tables do not affect the data collection and reporting requirements applicable to lenders subject to Regulation C; the revised disclosure tables merely show the format that will be used by the federal financial regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. for public disclosure of the data collected and reported by lenders. The 2002 revisions to Regulation C require lenders to collect and report data including loan pricing information (the rate spread between the annual percentage rate on the loan and the yield on Treasury securities of comparable maturity); whether the loan is subject to the Home Ownership and Equity Protection Act; whether manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected is involved; whether the loan is secured by a first or subordinate lien lien, claim or charge held by one party, on property owned by a second party, as security for payment of some debt, obligation, or duty owed by that second party. on the property; and certain information about requests for preapproval. In addition, the race and ethnicity categories were changed to conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" standards established by the Office of Management and Budget The Office of Management and Budget (OMB), formerly the Bureau of the Budget, is an agency of the federal government that evaluates, formulates, and coordinates management procedures and program objectives within and among departments and agencies of the Executive Branch. . The first year for which the new data will be reported is 2004. Data from lenders must be submitted to the federal financial regulatory agencies no later than March 1, 2005, and will be reflected in the public disclosures scheduled to be released later in 2005. |
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