Fed Will Filter HMDA Data To Weed Out Rate Changes
June 14, 2006
In a move that it says will provide a clearer picture of high-cost lending patterns, the Federal Reserve Board plans to filter data submitted by lenders under the Home Mortgage Disclosure Act to weed out the impact of interest rate changes. At the recent Nonprime and Alternative Mortgages Conference in Washington, DC, Glenn Canner, a senior adviser to the Federal Reserve Board, said that the agency’s preliminary review of HMDA data suggests that more borrowers…