High Percentage, Rising Trend of Unreported Race Data Cast Doubt on the Efficacy of HMDA, Fair Lending Examinations
May 21, 2001
The high and rising number of mortgage loan applications missing crucial race data may be masking the true extent of discriminatory lending, according to a study that may soon be the basis of new policy from the Office of the Comptroller of the Currency. Results of a new study of Home Mortgage Disclosure Act data from 1993 through 1999 indicate that race data are missing for "systematic" reasons and, therefore, may have rendered fair lending