Home Mortgage Disclosure Act Amendments of 1987

Summary

Home Mortgage Disclosure Act Amendments of 1987 - Amends the Home Mortgage Disclosure Act of 1975 to include as a "depository institution" subject to certain disclosure requirements for federally-insured mortgage loans, any mortgage banking subsidiary of a bank holding company or savings and loan holding company or any savings and loan service corporation that originates or purchases mortgage loans. Requires depository institutions, generally, to list, by State, each mortgage loan originated or purchased and secured by property located outside metropolitan statistical areas. Requires the disclosure statements for a calendar year to be made available to the public at central depositories of data by the following June 1. Repeals the expiration date for such Act. Directs the Federal Financial Institutions Examination Council to study and report to the Congress on the costs to depository institutions of disclosure reports required under such Act, the estimated usage of the data provided, obstacles to usage, and recommendations for action by the Federal financial institutions' regulatory agencies to increase public awareness about the availability of such data.

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1 official file

• Introduced in House

  summary · EN · 6 January 1987

  Open at official source

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