Published: December 2017

Using homebuyer data to keep lenders honest, stop housing discrimination

Housing and public interest groups are urging the Consumer Financial Protection Bureau to collect and release data that will help policymakers and other invested groups determine if lenders are serving the housing needs of their communities. The data is also invaluable in helping to combat discriminatory home lending practices.

Housing and public interest groups sent a letter to the Consumer Financial Protection Bureau (CFPB) applauding its work in carefully determining which Home Mortgage Disclosure Act (HMDA) data points to release publicly. (The CFPB weighs the benefits of HMDA disclosure against any privacy risks in determining what to release.) The letter emphasizes the benefits of data disclosure that is “integral to and essential for the realization of HMDA’s three statutory purposes of determining whether lenders are serving the housing needs of their communities, assisting public officials to direct public investment to economically struggling areas in such a manner as to stimulate private sector investment, and identifying possible discriminatory lending patterns in order to enforce anti-discrimination statutes.” The letter also gives the CFPB recommendations regarding credit score disclosure and recommends it change some of its proposed modifications to improve the utility of modified data fields, as well as create an effective restricted access program.

Lead Organization

National Community Reinvestment Coalition

Other Organizations

Americans for Financial Reform 
| Center for Responsible Lending 
| Consumer Action 
| Consumer Federation of America 
| National Association of American Veterans, Inc.
 
| National Consumer Law Center (on behalf of its low-income clients) 
| National Fair Housing Alliance
 
| (For a full list, including state organizations, please see letter below under "Downloads")

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