Home Mortgage Disclosure — 1994-12-09 [94-30271]

The Board is publishing a final rule to amend Regulation C (Home Mortgage Disclosure) and to revise the instructions and reporting forms that financial institutions must use in complying with the annual reporting requirements. The amendments respond to the statutory provisions regarding earlier availability of the Home Mortgage Disclosure Act (HMDA) disclosure statements to the public; provide clarifications requested by financial institutions that report under HMDA; and are intended to help improve the quality of the HMDA data. The amendments require reporting in machine-readable format; require institutions to update their loan application registers quarterly during the year as data are being collected; and make a number of other changes.