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Provide
citizens and public officials in the United States with
sufficient information to enable them to determine whether
depository institutions are fulfilling their obligations to
serve the communities and neighborhoods in which they are
located;
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Assist
public officials in their determination of the distribution of
public sector investments in a manner designed to improve the
private investment environment; and
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Assist
in identifying possible discriminatory lending patterns and
enforcing anti-discrimination statutes.
Federal Reserve Regulation C,
which implements HMDA, imposes certain record keeping and
disclosure requirements on home mortgage lenders, including
federal savings banks, intended, among other things, to ensure
that financial institutions serve the housing needs of their
communities and do not discriminate in their lending practices
on such prohibited bases as race, ethnicity, and national origin.
The regulation requires a federal savings bank to collect and
report data about originated, purchased, accepted (but not
closed) and denied home purchase, refinance, and home
improvement loans and the borrowers thereof. It also requires
that annual data be reported to the Federal
Financial Institutions Examinations Council ("FFIEC") on such
loans for the preceding calendar year. The Office of Thrift Supervision
("OTS") monitors and enforces compliance with HMDA for federal
savings banks.
Other HMDA Resources
Federal Financial
Institutions Examination Council (FFIEC)
The Federal Reserve Board
Office of Thrift Supervision
(OTS)
Lehman Brothers Bank HMDA Activities
In compliance
with HMDA, the Bank will complete and submit the required Loan
Application Register (“LAR”) for the previous year’s loan
activity by March 1st. The Bank will make its LAR
available to the public after modifying it in accordance with
Appendix A of Federal Reserve Regulation C ("Modified-LAR"). Pursuant to HMDA and to protect
the privacy of applicants and borrowers, the information
listed below will be deleted from the LAR before releasing it
to the public.
a.
Application
or loan number
b.
Date
application received
c.
Date of
action taken
The Modified
LAR will be made available following the calendar year for
which the data is compiled. A request received on or before
March 1st will be fulfilled by the provision of a copy of the Modified
LAR on March 31st. A request received after March 1st
will be fulfilled by providing a copy of the Modified LAR within 30 days of
receipt of the request by the Bank at its home office in Delaware.
The Bank will
make its Loan Disclosure Statement available to the general
public at its home office no later than three business days
after receiving the statement from the FFIEC. The branch
office will make the Loan Disclosure Statement available no
later than ten business days after receipt from the FFIEC.
The Loan Disclosure Statement will be available during normal
business hours at the home office and branch office.
