HMDA Research
HMDA needs most lenders whom originate money into the towns to submit information about the fresh new applicant (such, money and you can competition) as well as on the fresh new census tract located area of the property. The lending company isn’t needed so you’re able to post on perhaps the applicant aims a mortgage to own a manufactured family or whether or not the application is known as subprime. 2
Researchers and you will policymakers used HMDA data to examine many financial credit inquiries. All these studies have handled community redlining and the chronic disparity anywhere between fraction and white rejection rates. Others purchased HMDA studies to study the brand new affordable lending behavior off portfolio loan providers and Bodies-sponsored organizations (Federal national mortgage association and you can Freddie Mac computer). The absence of a manufactured domestic variable and you will a b&C adjustable enjoys usually contributed to the software are classified to each other on these knowledge.
To separate away are created house and B&C funds, HUD put trading courses to help you amass a list of highest loan providers one to concentrate on are created household and you will B&C credit.