Finance
Under the Home Mortgage Disclosure Act (HMDA), lenders must collect and report data about:
AOnly approved mortgage applications
BMortgage applications including information about the applicant's race, ethnicity, sex, income, and loan purpose✓ Correct
COnly denied applications to track discrimination
DOnly refinance transactions
Explanation
HMDA requires financial institutions to collect and publicly report detailed data on mortgage applications, including approvals and denials. The data includes information about the applicant's race, ethnicity, sex, income, loan amount, and property location. This data helps regulators identify potential discrimination in mortgage lending.
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