Not Required Loan-Related Data under HMDA

D

The Home Mortgage Disclosure Act (HMDA) is a federal law in the United States that requires certain financial institutions to collect and report information about their mortgage lending activity. The purpose of HMDA is to provide information to regulators, the public, and other interested parties to help identify and prevent discriminatory lending practices.

Of the loan-related data listed, the type of data that is NOT required to be reported under HMDA is data on unsecured home improvement loans. HMDA requires reporting of certain types of mortgage loans, including home purchase loans, refinancings of home purchase loans, and loans to purchase residential lots. However, unsecured home improvement loans are not considered mortgage loans and are therefore not subject to HMDA reporting requirements.

Multifamily housing data, on the other hand, is required to be reported under HMDA. This includes loans for the purchase, refinancing, or improvement of multifamily properties with five or more units. Refinancings of home purchase loans are also required to be reported, as are loans to purchase residential lots.

In summary, the correct answer is B. Data on unsecured home improvement loans is NOT required to be reported under HMDA.