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Opportunities and Issues in Using HMDA Data

Author

Listed:
  • Robert B. Avery

    (Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, D.C. 20551-0001)

  • Kenneth P. Brevoort

    (Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, D.C. 20551-0001)

  • Glenn B. Canner

    (Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, D.C. 20551-0001)

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.

Suggested Citation

  • Robert B. Avery & Kenneth P. Brevoort & Glenn B. Canner, 2007. "Opportunities and Issues in Using HMDA Data," Journal of Real Estate Research, American Real Estate Society, vol. 29(4), pages 351-380.
    • Handle: RePEc:jre:issued:v:29:n:4:2007:p:351-380
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    References listed on IDEAS

    as
    1. Robert B. Avery & Glenn B. Canner & Robert E. Cook, 2005. "New information reported under HMDA and its application in fair lending enforcement," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 91(Sum), pages 344-394.
    2. Jim Berkovec & Peter Zorn, 1996. "How Complete is HMDA? HMDA Coverage of Freddie Mac Purchases," Journal of Real Estate Research, American Real Estate Society, vol. 11(1), pages 39-56.
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    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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