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Board of Governors of the Federal Reserve System
Federal Reserve Board of Governors

Federal Reserve BULLETIN

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2011, Volume 97

December 30

The Mortgage Market in 2010: Highlights from the Data Reported under the Home Mortgage Disclosure Act
Robert B. Avery, Neil Bhutta, Kenneth P. Brevoort, and Glenn B. Canner

This article presents a number of key findings from a review of the data that mortgage lending institutions reported for 2010 under the Home Mortgage Disclosure Act (HMDA). The article documents home-purchase lending activity reflected in the HMDA data and discusses how the ending of the government's first-time homebuyer tax credit program during the year may have affected such lending. It also documents refinance lending activity and explores factors that may have muted such lending during 2010. In addition, the article closely examines patterns of lending across different racial or ethnic and income groups and across areas that differ in terms of housing market distress. Finally, it describes the federal government's role in the mortgage market over the past several years and investigates how upcoming changes in loan limits might affect this role and the mortgage market going forward.

December 8

Legal Developments: Third Quarter, 2011

Three orders were issued in this quarter, one for Comerica Incorporated under Section 3 of the Bank Holding Company Act, and one for Banca Popolare di Vicenza S.C.p.A. and The Bank of Fukuoka, Ltd. under the International Banking Act.

October 20

Legal Developments: Second Quarter, 2011

Seven orders were issued in this quarter, one for Hancock Holding Company, Mitsubishi UFJ Financial Group, Inc., and United Bankshares, Inc. under Section 3 of the Bank Holding Company Act, one for Bank of Montreal and M&T Bank Corporation under Sections 3 and 4 of the Bank Holding Company Act, and one for Bank of Communications Co., Ltd. and Bank of Taiwan under the International Banking Act.

August 10

Designing Disclosures to Inform Consumer Financial Decisionmaking: Lessons Learned from Consumer Testing
Jeanne M. Hogarth and Ellen A. Merry

The Federal Reserve Board has studied ways to improve the disclosures that consumers draw on when they purchase and use financial products and services. This article examines lessons learned from the Board's consumer testing projects, suggests potential best practices for disclosure content and presentation, and identifies challenges involved in crafting effective disclosures for financial products.

June 15

Legal Developments: First Quarter, 2011

Three orders were issued in this quarter, one for First Niagara Financial Group, Inc. and The Goldman Sachs Group, Inc. under Section 3 of the Bank Holding Company Act, and one for Chuo Mitsui Trust Holdings, Inc. under Sections 3 and 4 of the Bank Holding Company Act.

March 8

Legal Developments: Fourth Quarter, 2010

Three orders were issued in this quarter, one for SKBHC Holdings LLC under Section 3 of the Bank Holding Company Act, one for Caja de Ahorros de Valencia, Castellón y Alicante, Bancaja and one for Banco Financiero y de Ahorros, S.A. under Sections 3 and 4 of the Bank Holding Company Act, and one for Centennial Bank under the Bank Merger Act.


Last update: February 2, 2012