Misplaced Pages

#560439

32-452: HMDA grew out of public concern over credit shortages in certain urban neighborhoods. Congress believed that some financial institutions had contributed to the decline of some geographic areas by their failure to provide adequate home financing to qualified applicants on reasonable terms and conditions. Thus, one purpose of HMDA and Regulation C is to provide the public with information that will help show whether financial institutions are serving

64-736: A central city are listed separately, and unincorporated areas within urban agglomerations are not included. Therefore, a different ranking is evident when considering U.S. urban areas or metropolitan areas . This table lists the 336 incorporated places in the United States, excluding the U.S. territories , with a population of at least 100,000 as of July 1, 2023, as estimated by the U.S. Census Bureau . Five states have no cities with populations exceeding 100,000. They are: Delaware , Maine , Vermont , West Virginia , and Wyoming . The table displays: Download coordinates as: The total 2020 enumerated population of all cities over 100,000

96-399: A county, or county equivalent. Some consolidated city-counties, however, include multiple incorporated places. This list presents only the portion of such consolidated city-counties that are not a part of another incorporated place. This list refers only to the population of individual municipalities within their defined limits ; the populations of other municipalities considered suburbs of

128-452: A given metropolitan area will vary between sources. The statistical criteria for a standard metropolitan area were defined in 1949 and redefined as a metropolitan statistical area in 1983. Due to suburbanization, the typical metropolitan area is polycentric rather than being centered around a large historic core city such as New York City or Chicago . Some metropolitan areas include more than one large historic core city; examples include

160-498: A loan officer may query applicants to see if they have applied and been approved for a loan at any other banks. The rate for those that can produce another institution's offer may then be adjusted accordingly to remain competitive. However, if a certain ethnic group is less likely to "shop around" for the best rate, then the mere application of this principle — which is otherwise non-discriminatory in intent — can produce discriminatory effects. Many disputes between lenders and regulators in

192-470: A regulation for public comment that would increase the minimum population needed for an urban area population to be a metropolitan statistical area to be increased from 50,000 to 100,000. It ultimately decided to keep the minimum at 50,000 for the 2020 cycle. On July 21, 2023, the Office of Management and Budget released revised delineations of the various CBSAs in the United States. The Census Bureau created

224-602: A set of core based statistical areas (CBSAs) throughout the country, which are composed of counties and county equivalents . CBSAs are delineated on the basis of a central contiguous area of relatively high population density, known as an urban area . The counties containing the core urban area are known as the "central counties" of the CBSA; these are defined as having at least 50% of their population living in urban areas of at least 10,000 in population. Additional surrounding counties, known as "outlying counties", can be included in

256-900: A single CBSA when the central county or counties of one CBSA qualify as an outlying county or counties to the other CBSAs. One or more CBSAs may be grouped together or combined to form a larger statistical entity known as a combined statistical area (CSA) when the employment interchange measure (EIM) reaches 15% or more. CBSAs are subdivided into MSAs (formed around urban areas of at least 50,000 in population) and micropolitan statistical areas (μSAs), which are CBSAs built around an urban area of at least 10,000 in population but less than 50,000 in population. Some metropolitan areas may include multiple cities below 50,000 people, but combined have over 50,000 people. Previous terms that are no longer used to describe these regions include "standard metropolitan statistical area" (SMSA) and "primary metropolitan statistical area" (PMSA). On January 19, 2021, OMB submitted

288-614: A specific threshold. The criteria are different for depository and non-depository institutions and are available on the FFIEC website. Additional information on institutional and transactional coverage for HMDA data collection years 2017 and onward can be found on the CFPB's regulation implementation page. The datasets containing information on HMDA reporters are the HMDA Panel and HMDA Transmittal Sheet. In 2012, there were 7,400 institutions that reported

320-557: A total of 18.7 million HMDA records. Companies covered under HMDA are required to submit a Loan Application Register (LAR) to the FFIEC via the CFPB which acts as the HMDA processor. The LAR must contain the data outlined in the Filing Instruction Guide (FIG) for the relevant collection year for all covered applications or loans. For data from years prior to 2017 reporting institutions were required to submit their LARs by March 1 to

352-461: Is 96,598,047, representing 29.14% of the United States population (excluding territories) and covering a total land area of 29,588 square miles (76,630 km ). The mean city population is 301,765, and the mean density is 4,151 inhabitants per square mile (1,603/km ). Download coordinates as: The following table lists the five municipalities ( municipios ) of Puerto Rico with a population greater than 100,000 on July 1, 2023, as estimated by

SECTION 10

#1732852678561

384-687: The Dallas–Fort Worth metroplex , Virginia Beach–Norfolk–Newport News (Hampton Roads) , Riverside–San Bernardino (Inland Empire) , and Minneapolis–Saint Paul (Twin Cities) . MSAs are defined by the Office of Management and Budget (OMB), which is part of the Executive Office of the President , and are used by the U.S. Census Bureau and other U.S. federal government agencies for statistical purposes. The U.S. Office of Management and Budget defines

416-471: The United States , a metropolitan statistical area ( MSA ) is a geographical region with a relatively high population density at its core and close economic ties throughout the region. Such regions are not legally incorporated as a city or town would be and are not legal administrative divisions like counties or separate entities such as states . As a result, sometimes the precise definition of

448-409: The United States , including those in all 50 states and the national capital of Washington, D.C. are ranked, including: This sortable table lists the six metropolitan statistical areas (MSAs) of Puerto Rico including: List of United States cities by population Download coordinates as: Population This is a list of the most populous municipal corporations of

480-527: The United States . As defined by the United States Census Bureau , an incorporated place includes cities , towns , villages , boroughs , and municipalities . A few exceptional census-designated places (CDPs) are also included in the Census Bureau's listing of incorporated places. Consolidated city-counties represent a distinct type of government that includes the entire population of

512-579: The 2018 and onward HMDA collections, the CFPB used a balancing test method that weighed public utility of the data against potential for consumer harm. The application of the balancing test resulted in some fields being redacted and others being modified in order to protect applicant and borrower privacy. HMDA datasets are published annually and include the Loan Application Register (LAR), Transmittal Sheet (TS), and Panel. The LAR contains transaction level data that were covered by Regulation C during

544-475: The 2018 and onward HMDA collections. The Data Browser allows filtering by geographic location, including State, MSA, and county, HMDA reporter, by LEI or name, and up to two additional data fields. The Data Browser also allows access via API. HMDA data can be used to identify indicators of potential mortgage discrimination, however HMDA does not contain sufficient data to make conclusive determinations regarding discrimination. In all cases of possible discrimination,

576-478: The 2020 census. A CDP is a concentration of population identified by the United States Census Bureau for statistical purposes. CDPs are delineated for each decennial census as the statistical counterparts of incorporated places such as cities , towns and villages . CDPs are populated areas that lack separate municipal government, but which otherwise physically resemble incorporated places. Unlike

608-404: The CBSA if these counties have strong social and economic ties to the central county or counties as measured by commuting and employment. Outlying counties are included in the CBSA if 25% of the workers living in the county work in the central county or counties, or if 25% of the employment in the county is held by workers who live in the central county or counties. Adjacent CBSAs are merged into

640-638: The CRA and the National Information Center . Initial dataset publications are referred to as the Modified LAR and are available on 3/31 of each calendar year. Later in the year additional datasets are published including the Snapshot, a point in time copy of HMDA of all three annual HMDA datasets, and Dynamic, TS and LAR files that are updated weekly. The HMDA Data Browser was launched as an access tool for

672-678: The Federal Reserve Board on behalf of Federal Financial Institutions Examination Council (FFIEC), an interagency body empowered to administer HMDA. Pursuant to the Dodd–Frank Wall Street Reform and Consumer Protection Act , as of 2018 HMDA data was to be submitted to the Consumer Financial Protection Bureau via an online portal named the HMDA Platform. The first year of data submitted via this process

SECTION 20

#1732852678561

704-704: The HMDA data collection for 2017 and prior: New or changed contents of the HMDA data collection for 2018 and onward: HMDA data products are hosted on behalf of the FFIEC by the Federal Reserve Board for data HMDA collections for 2016 and prior and the CFPB for HMDA collections 2017 and later. Additionally, historic files prior to 2014 can be found at the National Archives and Records Administration (NARA) website. The NARA files include both Final and Ultimate datasets. The Final datasets include one year of resubmissions and late submissions by HMDA reporters and

736-526: The Office of Management and Budget) and later renamed to standard metropolitan statistical areas (SMAs) in 1959. The modern metropolitan statistical area was created in 1983 amid a large increase in the number of eligible markets, which grew from 172 in 1950 to 288 in 1980; the core based statistical area (CBSA) was introduced in 2000 and defined in 2003 with a minimum population of 10,000 required for micropolitan areas and 50,000 for urban areas. The 387 MSAs in

768-584: The Ultimate files contain two years of late and resubmitted data. NARA files include the statistical aggregates collected prior to 1990, the transaction level data collected in 1990 and onward, and the Aggregate and Disclosure reports produced from those data. The Aggregate and Disclosure reports were modified in 2018 due to changes in Regulation C. In order to determine what transaction level data would be made public in

800-638: The United States Census Bureau. If Puerto Rico were included with the broader U.S. list, San Juan would be the 58th largest city in the country. The table below contains the following information: As of 2023 , four U.S. territories — American Samoa , Guam , the Northern Mariana Islands , and the U.S. Virgin Islands — have no cities with at least 100,000 people. Download coordinates as: The following table lists U.S. census-designated places (CDPs) with populations of at least 100,000 according to

832-433: The basic regulatory inquiry revolves around whether a protected class of persons being denied a loan or offered different terms for reasons other than objectively acceptable characteristics (e.g. income, collateral). Simultaneously, this area is the rifest for contention with respect to discriminatory claims, since there are market driven reasons for charging a higher rate that may exhibit discriminatory patterns. For example,

864-529: The collection year. The LAR is one of the few datasets that contains application data as well as originated mortgages which allows calculation of denial rates and must be accounted for when analyzing HMDA data. The Transmittal Sheet contains self reported information related to HMDA reporters. The Panel is a compilation of regulatory data related to an institution that is used to profile HMDA reporters by peer group, such as by asset size, or by depository status and provide identifiers that link to other datasets, such as

896-405: The context of price discrimination relate to such scenarios. Again, the key litmus test is whether the objective characteristic being used to lower or raise the mortgage rate for a given group is substantive in its own right with respect to the risk or profitability of the potential loan, rather than mere a proxy for racial discrimination. Metropolitan Statistical Area Population In

928-514: The housing credit needs of the neighborhoods and communities in which they are located. A second purpose is to aid public officials in targeting public investments from the private sector to areas where they are needed. Finally, the FIRREA amendments of 1989 require the collection and disclosure of data about applicant and borrower characteristics to assist in identifying possible discriminatory lending patterns and enforcing antidiscrimination statutes. As

960-504: The metropolitan district for the 1910 census as a standardized classification for large urban centers and their surrounding areas. The original threshold for a metropolitan district was 200,000, but was lowered to 100,000 in 1930 and 50,000 in 1940. The metropolitan districts were replaced by standard metropolitan areas (SMAs) in the 1950 census , which were defined by the Bureau of the Budget (now

992-472: The name implies, HMDA is a disclosure law that relies upon public scrutiny for its effectiveness. It does not prohibit any specific activity of lenders, and it does not establish a quota system of mortgage loans to be made in any Metropolitan Statistical Area (MSA) or other geographic area as defined by the Office of Management and Budget. US financial institutions must report HMDA data to their regulator if they meet certain criteria, such as having assets above

Home Mortgage Disclosure Act - Misplaced Pages Continue

1024-719: Was 2017. The Dodd-Frank expanded the data fields collected under HMDA to provide better regulatory and public visibility into mortgage markets. Some changes include: On behalf of the FFIEC, the CFPB maintains a HMDA compliance guide that is publicly available and contains information on how and what to report in the data collection. Additional tools are made available by the FFIEC to facilitate compliance with Regulation C. The Economic Growth, Regulatory Relief and Consumer Protection Act allowed small banks to claim partial exemptions from reporting certain data fields if their Community Reinvestment Act ratings were not low and they were below certain counts for mortgage activity. Contents of

#560439