Upcoming hearings will help the Federal Reserve Board determine what changes are needed to the Home Mortgage Disclosure Act.
A news release today indicated that the Fed plans to hold four public hearings on potential revisions to Regulation C.
HMDA, which is implemented by Reg C, requires mortgage lenders to report pricing data and lending details annually.
The events will include panel discussions and oral statements in an open-mike forum.
The first hearing is scheduled for July 15 at the Federal Reserve Bank of Atlanta. That is followed by an Aug. 5 hearing at the Federal Reserve Bank of San Francisco, a Sept. 16 hearing at the Federal Reserve Bank of Chicago and a Sept. 24 hearing at the Federal Reserve Board in Washington, D.C.
Three objectives sought by the board include an analysis about whether Reg C revisions in 2002 resulted in useful and accurate information about the mortgage market. Another objective is to collect information that will help the Fed determine whether additional data or other improvements are needed.
“Finally, the hearings will help identify emerging issues in the mortgage market that may warrant additional research,” the statement said.
