Federal Reserve Bank of San Francisco

Community Development

A Principle-Based Redesign of HMDA and CRA Data


July 2009

Community Development Investment Review

Community groups rely on the Home Mortgage Disclosure Act (HMDA) and the Community Reinvestment Act (CRA) databases to engage in advocacy. Those databases, however, have not kept up with recent financial innovations, particularly in subprime mortgage lending, and need to be reformed.

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