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National Monitoring Information needs Under the HMDA and also the ECOA

National Monitoring Information needs Under the HMDA and also the ECOA

By Aaron Thompson, Senior Examiner, Federal Reserve Bank of Richmond

Introduction

Government monitoring information (GMI) identifies the loan applicant demographic data creditors must gather under Regulation B, which implements the Equal Credit chance Act (ECOA), and Regulation C, which implements the house Mortgage Disclosure Act (HMDA), when customers submit an application for particular home loans.