Federal Mortgage LawsQuestion 34 of 400
Data collected and reported under HMDA is compiled into a public dataset commonly known as:
a.The Fair Lending Index
b.The National Credit File
c.The RESPA Register
d.The Loan/Application Register (LAR)
Explanation
Covered institutions record HMDA data on a Loan/Application Register (LAR), which is submitted to regulators and made available to the public. There is no 'Fair Lending Index,' 'National Credit File,' or 'RESPA Register' used for HMDA reporting. The LAR is the mechanism that supports transparency in mortgage lending patterns.
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