HMDA data

[jc307 at columbia.edu]

I've been told that a recent amendment to the Home Mortgage Disclosure
Act now requires banks to disclose information on small business lending
at the census tract level. Is this information correct, and, if so, how
can I get this data?

Thanks in advance.

Tina Chiu
jc307@columbia.edu
EZMAP/Columbia University
475 Riverside Drive, Suite 834
New York, NY 100115


This post transferred from the cdb-l mailing list

[hokama at ucsu.colorado.e]

I am doing research in a similar area and would also like to know the
answer to Tina's question.

Jon

------------------------------------------------------------------------------
Jon Hokama

Dept. of Economics Inter Varsity Christian
Campus Box 256 Fellowship, Grad/Faculty
University of Colorado Ministry
Boulder, CO 80309 2340 S. Corona St.
Jon.Hokama@Colorado.EDU Denver, CO 80210
H/W: (303) 871-9574

On Fri, 1 Mar 1996, Tina Chiu wrote:

>
> I've been told that a recent amendment to the Home Mortgage Disclosure
> Act now requires banks to disclose information on small business lending
> at the census tract level. Is this information correct, and, if so, how
> can I get this data?
>
> Thanks in advance.
>
> Tina Chiu
> jc307@columbia.edu
> EZMAP/Columbia University
> 475 Riverside Drive, Suite 834
> New York, NY 100115
>
>


This post transferred from the cdb-l mailing list

[woodstck at wwa.com (Wood]

>
>I've been told that a recent amendment to the Home Mortgage Disclosure
>Act now requires banks to disclose information on small business lending
>at the census tract level. Is this information correct, and, if so, how
>can I get this data?


Not exactly. New regulations implementing the Community Reinvestment Act
were passed last April. Those regulations include a new data collection
requirement related to small business lending. Banks have to start
collecting this data for 1996 lending, and it will be available sometime in
1997 (probably mid-year). The data will not be broken out at the census
tract level. We do not expect anything near the kind of detail available on
residential lending (from HMDA). The public will have access to the total
number of small business loans an institution makes, and the number within
and outside of the bank's CRA assessment area. That total will also be
broken out into geographical classifications--(for MSA's with greater than
500,000) the number of loans to tracts with median income that is 0 to 10%
of the MSA median, the number of loans to tracts with median income
10-20%-and so on. The institution will also provide a list of all tracts in
which they made a small business loan, and a list of tracts that are
low-income, moderate-, middle-, and upper-income.


++++++++++++++++++++++++++++++++++++++++++++++++++ +++++++++
+ Woodstock Institute is a nonprofit applied research and +
+ technical assistance organization focusing on issues of +
+ community reinvestment and economic development. +
+ 407 S. Dearborn, Ste 550 Chicago, IL 60605 +
+ (312)427-8070 woodstck@wwa.com +
++++++++++++++++++++++++++++++++++++++++++++++++++ +++++++++


This post transferred from the cdb-l mailing list

[Michael_O._Patterson at h]

I've been told that a recent amendment to the Home Mortgage Disclosure
Act now requires banks to disclose information on small business lending
at the census tract level. Is this information correct, and, if so, how
can I get this data?


---HMDA data is available from RTK.net . Ask figueroa@rtk.net or
john@unison.org how to access. Files can be downloaded as Lotus or
dBase files.



Thanks in advance.

Tina Chiu
jc307@columbia.edu
EZMAP/Columbia University
475 Riverside Drive, Suite 834
New York, NY 100115


This post transferred from the cdb-l mailing list

[mverchot at u.washington.]

I am working on similar research and would like to know this answer as well.

Michael Verchot
Business and Economic Development Program
University of Washington School of Business
mverchot@u.washington.edu


On Fri, 1 Mar 1996, HOKAMA JON KEITH YOSHIMOTO wrote:

> I am doing research in a similar area and would also like to know the
> answer to Tina's question.
>
> Jon
>
> ------------------------------------------------------------------------------
> Jon Hokama
>
> Dept. of Economics Inter Varsity Christian
> Campus Box 256 Fellowship, Grad/Faculty
> University of Colorado Ministry
> Boulder, CO 80309 2340 S. Corona St.
> Jon.Hokama@Colorado.EDU Denver, CO 80210
> H/W: (303) 871-9574
>
> On Fri, 1 Mar 1996, Tina Chiu wrote:
>
> >
> > I've been told that a recent amendment to the Home Mortgage Disclosure
> > Act now requires banks to disclose information on small business lending
> > at the census tract level. Is this information correct, and, if so, how
> > can I get this data?
> >
> > Thanks in advance.
> >
> > Tina Chiu
> > jc307@columbia.edu
> > EZMAP/Columbia University
> > 475 Riverside Drive, Suite 834
> > New York, NY 100115
> >
> >
>


This post transferred from the cdb-l mailing list

[christopher.beshouri at o]

The following request/inquiry was made to the Community Development Banking
listserv:

Original text
>From Tina Chiu <jc307@columbia.edu>, on 3/1/96 3:12 PM:
To: <ced-net@sfu.ca>, <communitydevelopmentbanking-l@cornell.edu>

I've been told that a recent amendment to the Home Mortgage Disclosure
Act now requires banks to disclose information on small business lending
at the census tract level. Is this information correct, and, if so, how
can I get this data?

Thanks in advance.

Tina Chiu
jc307@columbia.edu
EZMAP/Columbia University
475 Riverside Drive, Suite 834
New York, NY 100115


The following response was prepared by a member of our compliance division,
which was involved in the discussions to amend HMDA data requirements:


The Home Mortgage Disclosure Act(HMDA) has not been amended to require the
reporting of small business lending at the census tract level.

The new CRA regulation, though, does require such reporting. Per the
regulation the following cites:

12 CFR 25.42(a)

Loan information required to be collected and maintained. A bank, except a
small bank, shall collect and maintain in machine readable form (as
prescribed by the OCC) until the completion of its next CRA examination,
the following data for each small business or small farm loan originated or
purchased by the bank:. . .

12 CFR 25.42(b)(1) and following:

Small business and small farm loan data. For each geography in which the
bank originated or purchased a small business or small farm loan, the
aggregate number and amount of loans:
(i) . . .
(iv) To businesses and farms with gross annual revenues
of $1 million or less (using the revenues that the
bank considred in making its credit decision);

Hope this information is helpful.
------------------


This post transferred from the cdb-l mailing list

[RuthMali at aol.com]

There is no small business disclosure in HMDA. However, the new CRA regs
require small business lending to be reported beginning with data of June
1996 (I'm pretty sure of the start date), which will not be available for a
year thereafter.
The small business lending report goes to the bank's regulator and covers all
loans of $1MM or less. Additional information captured is revenue size of
the borrower, census tract of the borrower (LMI/non-LMI).


This post transferred from the cdb-l mailing list

[afisher at igc.apc.org]

the new CRA regulations required financial institutions with assets
greater than $250 million to track small business lend in the
aggregage throughout their geographic services, which could be the
state, dis-aggregating it by income level of census tracts overall.
In other words, I would expect it to be reported for all low income
census tracts in California for the big banks.


This post transferred from the cdb-l mailing list