The 2013 Home Mortgage Disclosure Act Data

This article provides an overview of the 2013 data reported under the Home Mortgage Disclosure Act of 1975 (HMDA) and documents mortgage market activity over time as well as lending patterns across different demographic groups and lender types. In addition, we use a unique data set composed of HMDA records matched to borrowers' credit records to reexamine the factors that might help explain the large differences in the incidence of higher-priced lending across borrowers of different races and ethnicities during the housing boom. The HMDA data alone explain very little of these differences. The matched data provide information on borrowers' credit scores, and differences in scores across groups help explain a large portion, but not all, of the differences in higher-priced lending.