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Records Retention Program, Home Mortgage Disclosure Act

N1-82-05-01 Home Mortgage Disclosure Act approved by NARA: 01-20-06
Home Mortgage Disclosure Act Data and Related Records
Records Retention Schedules

The Home Mortgage Disclosure Act (HMDA), 12 U.S.C. § 2801 et seq. as implemented by the Board's Regulation C, requires banks, savings associations, credit unions, and for-profit mortgage lending institutions (hereafter referred to as Reporters) to report data on residential loan applications. The purpose is to provide public loan data that can be used to assist:

  • in determining whether financial institutions are serving the housing needs of their communities;
  • public officials in distributing public-sector investments so as to attract private investment to areas where it is needed; and
  • in identifying possible discriminatory lending patterns.

All Reporters submit their HMDA data directly to the Board. The Board maintains, operates, and manages the HMDA database on behalf of all participating agencies, including the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration, and the FFIEC. The Board prepares the disclosure forms required by HMDA, provides them to reporters, compiles aggregate data and aggregates the data by Metropolitan Statistical Area (MSA), and makes HMDA data available to the public as required by law.

1. Master HMDA Data Files.

HMDA data are derived from the Loan Application Register (LAR) and Transmittal Sheets (TS) submitted to the Board.1 Reporting panel data2 include lists of the Reporters' MSA's. There are two categories of data, "final" and "ultimate". Unrestricted "final" versions of data are made available to the public. "Ultimate" files are not made available to the public and include adjustments to the data incorporated in the 18 months following the reporting deadline.

A. Non-restricted3 ultimate (TS and LAR) data file.

DISPOSITION: Permanent. Cut off when revisions to data are completed. Transfer copy of the data with documentation to NARA annually in accordance with 36 CFR 1228.270.
 
B. Non-restricted final (TS and LAR) data file.

DISPOSITION: Permanent. Cut off when revisions to data are completed. Transfer copy of the public use data with documentation to NARA annually in accordance with 36 CFR 1228.270.
 
C. Restricted4 ultimate (TS and LAR) data file.

DISPOSITION: Temporary. Cut off annually. Retain for 5 years, then destroy or delete when no longer needed for reference or dissemination.
 
D. Restricted final (TS and LAR) data file.

DISPOSITION: Temporary. Cut off annually. Retain for 5 years, then destroy or delete when no longer needed for reference or dissemination.
 
E. Final Panel data file.

DISPOSITION: Permanent. Cut off when revisions to data are completed. Transfer copy of the public use data with documentation to NARA annually in accordance with 36 CFR 1228.270.
 
F. Ultimate Panel data file.

DISPOSITION: Permanent. Cut off when revisions to data are completed. Transfer copy of the data with documentation to NARA annually in accordance with 36 CFR 1228.270.
 
G. HMDA/Community Reinvestment Act (CRA) Combined Census file.

DISPOSITION: Permanent. Cut off annually. Transfer copy of the public use data with documentation to NARA annually in accordance with 36 CFR 1228.270.

2. Reports.

The Board produces aggregate disclosure reports from the master files that interpret HMDA data as follows.

A. Aggregate Report.

DISPOSITION: Permanent. Cut off annually. Transfer copy with documentation to NARA after cut off in accordance with 36 CFR 1228.270.
 
B. National Aggregate Report.

DISPOSITION: Permanent. Cut off annually. Transfer copy with documentation to NARA annually in accordance with 36 CFR 1228.270.
 
C. Disclosure Statements.

DISPOSITION: Permanent. Cut off annually. Transfer copy of the public use data with documentation to NARA annually in accordance with 36 CFR 1228.270.
 
D. Intermediate Files and Ad Hoc Files and Reports.

DISPOSITION: Temporary. Destroy or delete when no longer needed for reference or dissemination.
 
3. Input Files.

This item covers HMDA data submissions from lending institutions forwarded from oversight agencies to the Board. HMDA data are primarily sent electronically, although some paper forms are submitted occasionally. After the data are received by the Board, the data are extracted or manually entered into the HMDA database.

DISPOSITION: Temporary. Delete or destroy after input data have been transferred to the master file and verified, or when no longer needed to reconstruct or backup the master file, whichever is later.

 
4. Documentation.

a. Data systems specifications, file specifications, codebooks, record layouts, user guides, and output specifications (regardless of medium) relating to the master file, data, and electronic reports that have been scheduled as permanent in this disposition schedule.

DISPOSITION: PERMANENT. Transfer to NARA with related master file, data, and/or electronic reports.

Footnotes

1. Historically, LAR and TS Sheets were submitted by each financial institution to the appropriate supervisory agency, but now these documents are directly submitted to the Board. Return to text.

2. Panel data include information about Reporters such as their names and addresses. Return to text.

3. Non-restricted files contain no personal information that could identify particular borrowers. Return to text.

4. Restricted data files contain personal identifying information, such as loan application numbers and loan action dates. Return to text.

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Last Update: February 13, 2012