The Consumer Financial Protection Bureau
(CFPB) announced new tools yesterday that will help consumers further explore the Home
Mortgage Disclosure Act (HMDA) data that was released by the Federal
Financial Institutions Examination Council (FFIEC). The 2012 HMDA data includes
information on loan originations, loan declinations, mortgage preapprovals and
loan sales and purchases from 7,400 financial institutions covered by HMDA requirements. As close to 19 million mortgage-related actions
are covered in the database, tools to explore and manage it are probably a
In announcing the tools CFPB said they will
"help maximize the impact of this
tremendous public dataset by providing a user-friendly tool to enable consumers
to explore mortgage application and loan data at a local level."
data, CFPB said, can help show whether lenders are serving the housing needs of
their communities and can give public officials information to help them make
decisions and policies. It can also
illuminate lending patterns that could be discriminatory.
tools allow the users to see nationwide summaries or use interactive features
to isolate data for any metropolitan area.
The map below, showing loan volume changes in 2012, is an example of
information that can generated with the tool.
The new tools are available on the CFPB website.