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Companies covered under HMDA are required to submit a Loan Application Register (LAR) to the FFIEC via the CFPB which acts as the HMDA processor. The LAR must contain the data outlined in the Filing Instruction Guide (FIG) for the relevant collection year for all covered applications or loans. [8] [9] [10] [11]
The HMDA requires "most lenders to identify the race, sex, and income of loan applicants and borrowers", [3] so the FFIEC is able to deduce things like "the number of mortgages issued to black and Hispanic borrowers rose sharply", as it did in 1993. [5] In 2006, the State Liaison Committee was added to the Council as a voting member. [6]
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
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HMDA may refer to: Home Mortgage Disclosure Act; Hyderabad Metropolitan Development Authority, an expanded urban planning agency of the city of Hyderabad, India;
Federal regulations require that unless its use is specifically exempted, either the HUD-1 or the HUD-1A, as appropriate, must be used for all mortgage transactions that are subject to the Real Estate Settlement Procedures Act. Prior to October 3, 2015, the form was used in closed-end consumer credit transactions that were secured by real ...
The New York Times reports that the Carleton Sheets infomercials that were ubiquitous a couple years ago are now off the air, as the real estate training mogul struggles with his tarnished ...
Once an instrument affecting the title to real estate has been recorded, the law holds that everyone is deemed to know of its existence, even if they have not searched the records in the recorder's office. This is the doctrine of "constructive notice" and it is nearly universal in the various states of the U.S. So, for example, after a deed or ...