www.hudclips.org U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, D. C. 20410-8000 July 18, 1990 OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER MORTGAGEE LETTER 90-25 TO: ALL APPROVED MORTGAGES SUBJECT: HOME MORTGAGE DISCLOSURE REPORTING REQUIREMENTS The Home Mortgage Disclosure Act of 1975 (HMDA), as originally enacted, required financial institutions affiliated with depository institutions or holding companies to disclose annually their originations and purchases of mortgage loans by census tract and by type of loan. HMDA was amended by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), which expanded the coverage of HMDA to include mortgage lenders that are not affiliated with depository institutions or holding companies. Regulation C Mortgagees The amendments enacted in FIRREA require all covered institutions to report data regarding applications for mortgage loans in addition to data regarding originations and purchases of such loans. Most of these institutions are also required to report the race, sex, and income of loan applicants. Mortgagees are required by HMDA and Regulation C of the Federal Reserve Board, published as 12 CFR Part 203, to collect and report this data if they meet the following criteria: o Have assets of more than $10 million (including assets of their parent organizations), o Have home offices located in Metropolitan Statistical Areas (MSAs), or received applications for or purchased five or more loans in properties located in an MSA, and o Are not otherwise exempt by the Federal Reserve Board regulation. Mortgagees meeting the Regulation C criteria are required to collect this data annually, beginning with calendar year 1990. This data is to be reported no later than the first day of march of the year following the calendar year for which the data is reported, commencing March 1, 1991. The data is to be reported on the loan/application register format prescribed in Regulation C (copy attached) and sent to the Federal supervisory agency specified in Appendix A to Regulation C. For purposes of HMDA, HUD is the Federal regulatory agency for all financial institutions which meet the criteria of Regulation C but are not regulated by other Federal agencies, i.e., mortgage bankers. _____________________________________________________________________ 2 The preferred method of loan register submissions is a computer tape facsimile of form FR-HMDA-LAR, although non-automated FR-HMDA-LARs are acceptable. Automation instructions for machine-readable input are set forth in Appendix A to this Mortgagee Letter. There will be an error or edit checking process at the Federal Reserve for both automated reports and non-automated reports. Mortgagees will have to correct mistakes detected through the edit process. A copy of the edit routine is attached for mortgagees that wish to pre-edit the data before submission. Mortgagees are required to retain their HMDA reports, which will be sent to them by the Federal Financial Institutions Examination Council, for at least five years. Mortgagees are responsible for having the data report available for public use within thirty (30) calendar days after receipt of the reports. ALL FHA MORTGAGEES MEETING THE REGULATION C CRITERIA ARE REQUIRED TO (1) COLLECT THE FOLLOWING DATA REGARDING THEIR ORIGINATIONS AND PURCHASE OF ALL MORTGAGE LOANS--FHA, VA, FARMER'S HOME, AND CONVENTIONAL---AND APPLICATIONS FOR SUCH LOANS, EVEN IF THE LOANS WERE NOT MADE: TYPE OF LOAN, CENSUS TRACT, RACE, SEX, AND INCOME OF EACH APPLICANT, AND (2) REPORT SUCH DATA TO THE APPROPRIATE FEDERAL SUPERVISORY AGENCY. FHA Mortgagees HMDA also requires the Secretary of HUD to make publicly available, in a manner comparable to the information required to be made publicly available for mortgagees meeting the criteria set forth above, data in the Secretary's possession for each mortgagee which is not otherwise subject to the requirements of HMDA, and the Fair Housing Act imposes a duty upon the Secretary to make studies with respect to the nature and extent of discriminatory housing practices. In furtherance of both of these statutes, FHA mortgagees that are not otherwise required to comply with HMDA, even if supervised by a Federal financial regulatory agency, must report such data concerning FHA insured mortgage loans made and purchased, and applications for FHA insured mortgage loans to the Secretary of HUD. Data shall be reported to HUD in the same manner as described above for data reported to Federal Supervisory agencies pursuant to Regulation C. Because HUD has no way of knowing which mortgagees are required to report to a Federal supervisory agency specified in Regulation C, mortgagees reporting to such agencies must also report to HUD the required information with regard to their originations and purchases of mortgage loans insured by FHA, and applications for FHA insured loans. These mortgagees shall also report (1) if these indicated data were included in a report to a Federal supervisory agency pursuant to Regulation C, and (2) the name of the agency to which the report was made. _____________________________________________________________________ 3 Reports relating to FHA-insured mortgages and applications for FHA-insured mortgages submitted to HUD will not be sent to the Federal Financial Institutions Examination Council, and mortgagees are not required to have this information available for public use. When data are reported by paper report, FR-HMDA-LAR, indicate the Respondent I.D. control number and Agency code in the boxes on the transmittal sheet and the data pages. When data are reported on magnetic tape, indicate the sane information in the appropriate field of the automated record attached. See Appendix B to this Mortgagee Letter, Information For Reporting Institutions. Commencing in 1991, completed loan registers for the preceding calendar year are to be sent to the following address no later than March 1 of each year: Assistant Secretary for Housing - FHA Commissioner HMDA Reporting - Room 9233 Department of Housing and Urban Development Washington, D. C. 20410 Mortgagees not complying with the HMDA requirements will be subject to review and possible sanction by HUD's Mortgagee Review Board. In addition to Regulation C, mortgagees may obtain further guidance from the "Guide to HMDA." The guide is currently being revised by the Federal Reserve Board. It can be obtained after it is made available by writing to: Dr. William F. Shaw, Director Information Systems Division Room 9241 Department of Housing and Urban Development Washington, D. C. 20410 Dr. Shaw's telephone number is (202) 708-2190. Any questions concerning this letter or HMNA requirments may also be directed to Dr. Shaw. Very sincerely yours, ____________________________ C. Austin Fitts Assistant Secretary for Housing-Federal Housing Commissioner _____________________________________________________________________ Appendix A Automation instructions for Home Mortgage Disclosure Act (HMDA) reporting to U.S. Department of Housing and Urban Development The tape format is 9 track EBCDIC, unlabeled, blocked 500 per record. The tape file consists of two record types; the first record is the Transmittal Sheet with 304 bytes, and identified as record type "1". The other record type is the detail line item data from the Loan/Application Register, consisting of 152 bytes, and is identified as record type "2". The detail layout for these two record types follow: Note: Reported income must be annual income. _____________________________________________________________________ ___________________________________________________________________________ Record layout for Loan/Application Register Transmittal Sheet ___________________________________________________________________________ Record Identification (if file contains multiple record type) "1" = Transmittal Sheet ___________________________________________________________________________ Bytes ___________________________ Comments, values, Element Label Starting Ending Length Type* keys, etc. ___________________________________________________________________________ 1. Record ID 1 1 1 N Always = 1 ___________________________________________________________________________ CONTROL NUMBER FHA approved 2. Respondent ID 2 11 10 AN mortgagee ID ___________________________________________________________________________ 1 OCC; 2 FRS; 3. Agency Code 12 12 1 N 3 FDIC; 4 OTS; 5 NCUA; 7 HUD ___________________________________________________________________________ 4. Timestamp 13 22 10 N zeros ___________________________________________________________________________ 5. Transaction 1 = delete, 2 = add; Code 23 23 1 N 3 = revise/replace 4 = special (resend) ___________________________________________________________________________ 6. Activity year 24 27 4 N ccyy (e.g. 1990, etc) ___________________________________________________________________________ RESPONDENT, MAILING ADDRESS 7. Respondent Name 28 57 30 AN ___________________________________________________________________________ 8. Respondent Address 58 97 40 AN ___________________________________________________________________________ 9. Respondent City 98 122 25 AN ___________________________________________________________________________ * AN - Alphanumeric N - Numeric ___________________________________________________________________________ A-2 _____________________________________________________________________ ___________________________________________________________________________ Record Layout for Loan/Application Register Transmittal Sheet ___________________________________________________________________________ Record Identification (if file contains multiple record type) "l" = Transmittal Sheet ___________________________________________________________________________ Bytes __________________________ Comments, values, Element Label Starting Ending Length Type* keys, etc. 10. Respondent State 123 124 2 AN 2 Character Postal Code ___________________________________________________________________________ 11. Respondent Zip Code 125 134 10 AN Left Justified ___________________________________________________________________________ PARENT MAILING ADDRESS 12. Parent Name 135 164 30 AN If Any ___________________________________________________________________________ 13. Parent Address 165 204 40 AN If Any ___________________________________________________________________________ 14. Parent City 205 229 25 AN If Any ___________________________________________________________________________ 15. Parent State 230 231 2 AN 2 Character Postal Code ___________________________________________________________________________ 16. Parent ZIP Code 232 241 10 AN Left Justified ___________________________________________________________________________ CONTACT PERSON 17. Name 242 271 30 AN For Report Questions ___________________________________________________________________________ 18. Phone Number 272 283 12 AN aaa-eee-nnnn ___________________________________________________________________________ * AN-AlphaNumeric N-Numeric ___________________________________________________________________________ A-3 _____________________________________________________________________ ___________________________________________________________________________ Record Layout for Loan/Application Register Transmittal Sheet ___________________________________________________________________________ Record Identification (if file contains multiple record type) "l" = Transmittal Sheet ___________________________________________________________________________ Bytes __________________________ Comments, values, Element Label Starting Ending Length Type* keys, etc. ___________________________________________________________________________ 19. Edit Status Code 284 284 1 AN = blank ___________________________________________________________________________ 20. Edit Error Flags 285 304 20 AN = blank ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ * AN - AlphaNumeric N - Numeric ___________________________________________________________________________ A-4 _____________________________________________________________________ ___________________________________________________________________________ Record Layout for Loan/Application Register Data ___________________________________________________________________________ Record Identification (if file contains multiple record type) "2" = Data. ___________________________________________________________________________ Bytes __________________________ Comments, values, Element Label Starting Ending Length Type* keys, etc. ___________________________________________________________________________ 1. Record ID 1 1 1 N Always = 2 ___________________________________________________________________________ CONTROL NUMBER 2 11 10 AN FHA approved mortgage 2. Respondent ID ID If not FHA approved enter zeros ___________________________________________________________________________ 1 OCC: 2 FRS; 3. Agency Code 12 12 1 N 3 FDIC; 4 OTS; 5 NCUA; 7 HUD ___________________________________________________________________________ 4. Timestamp 13 22 10 N enter zeros ___________________________________________________________________________ 1 = delete; 2 = add; 5. Transaction 3 = revise/replace Code 23 23 1 N 4 = special (resend) ___________________________________________________________________________ 6. Loan/ Application 24 48 25 AN Any combination of AN Number ___________________________________________________________________________ 7. Application 49 56 8 AN mm/dd/yy or Date NA left justified ___________________________________________________________________________ 8. Type of Loan 57 57 1 N 1 through 4 ___________________________________________________________________________ 9. Purpose of Loan 58 58 1 N 1 through 4 ___________________________________________________________________________ *AN - Alphanumeric N - Numeric ___________________________________________________________________________ A-5 _____________________________________________________________________ ___________________________________________________________________________ Record Layout for Loan/Application Register Data ___________________________________________________________________________ Record Identification (if file contains multiple record type) "2" = Data. ___________________________________________________________________________ Bytes ___________________________ Comments, values, Element Label Starting Ending Length Type* keys, etc. ___________________________________________________________________________ 10. Occupancy 59 59 1 N 1 through 3 ___________________________________________________________________________ In Thousands (rounded) 11. Loan Amount 60 64 5 N (do not enter commas) ___________________________________________________________________________ 12. Type of Action Taken 65 65 1 N 1 through 6 ___________________________________________________________________________ 13. Date of Action 66 73 8 AN mm/dd/yy ___________________________________________________________________________ FIPS Code with leading 14. MSA of 74 77 4 AN zeros or NA left Property justified ___________________________________________________________________________ FIPS Code with leading 15. State Code 78 79 2 AN zeros or NA left justified ___________________________________________________________________________ FIPS Code with leading 16. County Code 80 82 3 AN zeros or NA left justified ___________________________________________________________________________ Include decimal point 17. Census Tract 83 89 7 AN and any leading/ Number trailing zeros or NA left justified ___________________________________________________________________________ 18. Applicant Race 90 90 1 N 1 through 8 ___________________________________________________________________________ AN - AlphaNumeric N - Numeric ___________________________________________________________________________ A-6 _____________________________________________________________________ ___________________________________________________________________________ Record Layout for)r Loan/Application Register Data ___________________________________________________________________________ Record Identification (if file contains multiple record type) "2" = Data. ___________________________________________________________________________ Bytes _________________________ Comments, values, Element Label Starting Ending Length Type* keys, etc. ___________________________________________________________________________ 19. Co-Applicant Race 91 91 1 N 1 through 8 ___________________________________________________________________________ 20. Applicant Sex 92 92 1 N 1 through 4 ___________________________________________________________________________ 21. Co-Applicant Sex 93 93 1 N 1 through 4 ___________________________________________________________________________ Annual income In Thousands (rounded) 22. Applicants 94 97 4 AN (do not enter commas) Annual Income or NA left justified ___________________________________________________________________________ 23. Type of 98 98 1 AN 0 through 9 Purchaser or Blank (If Sold) ___________________________________________________________________________ 24. Denial Reason 99 99 1 AN Blank or 1 through 9 1 (Optional Item) ___________________________________________________________________________ 25. Denial Reason 100 100 1 AN Blank or 1 through 9 2 (Optional Item) ___________________________________________________________________________ 26. Denial Reason 101 101 1 AN Blank or 1 through 9 3 (Optional Item) ___________________________________________________________________________ 27. Edit Status 102 102 1 AN Blank Code ___________________________________________________________________________ 28. Edit Error Flags 103 152 50 AN Blank ___________________________________________________________________________ * AN - AlphaNumeric N - Numeric ___________________________________________________________________________ A-7 _____________________________________________________________________ Loan/Application Register Edit Reference Index ** Edits for public ** Column Description Reference A Application or Loan Number B Date Application Received (MM/DD/YY) C Type D Purpose E Occupancy F Amount of Loan (in thousands) Action Taken G Type H Date (MM/DD/YY) Property Location I MSA Number J State Code K County Code L Census Tract Applicant Information M Race or National Origin of Applicant N Race or National Origin of Co-Applicant O Sex of Applicant P Sex of Co-Applicant Q Income (in thousands) R Type of Purchaser of Loan S Reason(s) for Denial A-8 _____________________________________________________________________ Form FR HMDA-LAR OMB No. 7100-0247. Approval expires December 31,1992 Hours per response: 10-750 (120 average) This report is required by law (12 USC 2801-2810 and 12 CFR 203 LOAN/APPLICATION REGISTER Control Number (agency use only) TRANSMITTAL SHEET _________________________ - _____ You must complete this transmittal sheet (please type or print) and attach it to the Loan/Application Register, required by the Home Mortgage Disclosure Act, that you submit to your supervisory agency. The Loan/Application Register that is attached covers activity during 19 _____ and contains a total of ___ pages. Enter the name and address of your institution. The disclosure statement that Is produced by the Federal Financial Institutions Examination Council will be mailed to the address you supply below: __________________________________________________________________ Name _______________________________________________________________ Address _______________________________________________________________ City, State, ZIP Enter the name and telephone number of a person who may be contacted if questions arise regarding your report: __________________________________ _______________________ Name Telephone Number If your institution is a subsidiary of another institution or corporation, enter the name of your parent: ______________________________________________________________ Name ______________________________________________________________ Address ______________________________________________________________ City, State, ZIP Enter the name and address of your supervisory agency: ______________________________________________________________ Name ______________________________________________________________ Address ______________________________________________________________ City, State, ZIP An officer of your institution must complete the following section. I certify to the accuracy of this report. _____________________________ ____________________________ _______ Name of Officer Signature Date _____________________________________________________________________ Appendix B INFORMATION FOR REPORTING INSTITUTIONS Respondent ID Control Agency Report should Number 10 Code Type of Reporter cover digits 1 Digit ________________ ________________ ____________ ____________ 1. FHA lenders All applications FHA approved 7 (=HUD) meeting HMDA and loan Mortgagee asset and purchases number location test required by HMDA and HUD as regulator 2. FHA lenders All FHA FHA approved 7 (=HUD) not meeting applications Mortgagee HMDA asset and purchases number and location test and HUD as regulator 3. FHA lenders All FHA ID assigned code meeting HMDA applications by regulator* identifying asset and and purchases regulator* location test and another Federal Agency as regulator 4. FHA lenders All FHA FHA approved 1=OCC 2=FRS not meeting applications mortgagee 3=FDIC 4=OTS asset and and purchases number 5=NCUA 7=HUD locality test and another Federal Agency as regulator 5. Non-FHA lenders All applications Zeros 7 ( =HUD) meeting HMDA and loan asset and purchases location test required by with HUD as HMDA regulator *Same as on HMDA tranmission to regulator _____________________________________________________________________ Appendix VALIDITY EDITS FOR HOME MORTGAGE DISCLOSURE ACT - LOAN/APPLICATION REGISTER ___________________________________________________________________________ Error EDCK Transaction Item(s) Edit Test Explanation ____ ___________________ ____________________ _____________ Transmittal Sheet (only) ________________________ 100 Activity Year Activity Year must = Invalid year being processed Activity Year (>1989). 105 Respondent Mailing Respondent name, Respondent Address address, city, state, name, address, and zip must not be city, state blank. or zip is missing. 110 Parent Mailing If respondent is a Parent name, Address mortgage banking address, city, subsidiary, then state, or zip Parent name, address, is missing city, state, and for mortgage zip must not be banking blank. subsidiary 115 Contact Name Name of contact Name for person must not contact be blank. person is missing. A-10 _____________________________________________________________________ Error EDCK Transaction Item(s) Edit Test Explanation ____ ___________________ ____________________ _____________ 120 Contact Telephone Contact person Telephone Number telephone number number for must not be blank. contact person is missing Loan/Application Register (only) 205 Application/Loan Column A must not Information Number be blank. missing for (Column A) column A 210 Date Application Column B must be Month, day Received in MM/DD/YY format; and/or year (Column B) year must be numeric, not valid month and day must be in the range 01-12 and 01-31, respectively or equal NA. 215 Date Application If column G = 6, Column G Received then column B equals 6 and (Column B) must = NA. column B does not equal NA 220 Loan Type Column C must = 1, Loan type is (Column C) 2, 3, or 4. missing or is not in range 1-4 225 Loan Purpose Column D must = 1, Loan purpose (Column D) 2, 3, or 4. is missing or is not in range 1-4 230 Occupancy Column E must = 1, Occupancy is (Column E) 2, or 3. missing or does not equal 1, 2, or 3 240 Occupancy If column D = 4, Column D (Column E) then column E must equals 4 and = 3. column E does not equal 3 A-11 _____________________________________________________________________ Error EDCK Transaction Item(s) Edit Test Explanation ____ ___________________ ___________________ _____________ 245 Occupancy If column I = NA, Column I (Column E) then column E must equals NA and = 1 or 3. column E does not equal 1 or 3 250 Loan Amount Column F must be Loan amount (Column F) numeric and > zero. is invalid 255 Action Taken : Column G must = 1, Action taken : Type 2, 3, 4, 5, or 6. type is (Column G) missing or not in range 1-6 260 Action Taken : If column S is Column S is Type in the range 1-9, in range 1-9 (Column G) then column G and column G must = 3. does not equal 3 265 Action Taken : Column H must be Month and/or Date in MM/DD/YY format; Day and/or (Column H) month and day must Year not be in the range valid 01-12 and 01-31, respectively. YY must be numeric. 270 Action Taken : Year (YY) reported Year for Date in column H, must = action taken (Column H) activity year (YY) does not for period being matach processed. activity year 275 Action Taken : If column B does not Action taken : Date = NA then column H date is (Column H) must be >= column B. earlier than application date 280 MSA Number Column I must = a MSA number is (Column I) valid MSA FIPS code missing, does for period being not equal NA processed or NA. or a valid FIPS code _____________________________________________________________________ Error EDCK Transaction Item(s) Edit Test Explanation ____ ______________________ ____________________ ______________ 290 MSA/State/County Codes if column I does not MSA, State, (Columns I, J, and K) = NA, then columns I, and County J, and K must = a Codes do not valid combination equal a valid combination 300 Census Tract If column I does not Census tract (Column L) = NA, and county is is missing, not classified as or does not small or untracted, equal a valid then column L must census tract = a valid census number for tract number. MSA/State/ County combination 305 Census Tract If column L does not Column L does (Column L) = NA, then columns I, not equal NA J, and K must not and columns I, = NA. J, and K do not equal NA 3101 Applicant Race Column M must = 1, 2, Applicant race (Column M) 3, 4, 5, 6, 7, or 8. is missing or is not in range 1-8 315/1/ Co-Applicant Race Column N must = 1, 2, Co-Applicant (Column N) 3, 4, 5, 6, 7, or 8. race is missing or is not in range 1-8 320/1/ Applicant Sex Column O must = 1, 2, Applicant sex (Column O) 3, or 4. is missing or is not in range 1-4 325/1/ Co-Applicant Sex Column P must = 1, 2, Co-Applicant (Column P) 3, or 4. sex is missing or is not in range 1-4 _____________________________ /1/ These edits not applied if depository institution has assets < $30 million or action type = 6 _____________________________________________________________________ Error EDCK Transaction Item(s) Edit Test Explanation ____ ___________________ ____________________ _____________ 330/1/ Income Column Q must be Income is (Column Q) numeric or equal NA. missing or does not equal NA 335/1/ Income If column D = 4, Column D (Column Q) then column Q must equals 4 and = NA. column Q does not equal NA 340 Type of Purchaser Column R must = 0, Type of (Column R) 1, 2, 3, 4, 5, 6, purchaser is 7, 8, 9, or blank. not blank or in range 0-9 345 Type of Purchaser If column R is blank, Column R is (Column R) then column G must blank and = 2, 3, 4, or 5. column G is not in range 2-5 350 Type of Purchaser If column G = 1 or 6, Column G (Column R) then column R must equals 1 or 6 = 0, 1, 2, 3, 4, 5, and column R 6, 7, 8, or 9. is not in range 0-9 355 Reasons for Denial Column S must = 1, 2, Column S is (Column S) 3, 4, 5, 6, 7, 8, 9, not blank or or blank. in range 1-9 360 Reasons for Denial Responses for column Reasons for (Column S) S must not be the denial are same (i.e. 1,1; the same 1,1,2; 1,2,2; .....). 365 Reasons for Denial If column G = 1 or 6, Loan was not (Column S) then Column S must denied and = blank. reason for denial should equal blank _______________________________ /1/ These edits not applied if depository institution has assets < $30 million or action type = 6 A-14 _____________________________________________________________________ QUALITY EDITS FOR HOME MORTGAGE DISCLOSURE ACT - LOAN/APPLICATION REGISTER Error EDCK Transaction Item(s) Edit Test Explanation ____ ___________________ __________________ ______________ Q540 Occupancy If column C = 3, Column C (Column E) then column E must equals 3 and = 1. column E does not equal 1 A-15 _____________________________________________________________________ LOAN/APPLICATION REGISTER Use the following codes to complete the Loan/Application Register. The instructions explain the proper use of each code. Application or Loan Information Type: 1 - Conventional (any loan other than FHA, VA or FmHA loans) 2 - FHA-Insured (Federal Housing Administration) 3 - VA-guaranteed (Veterans Administration) 4 - FmHA-Insured (Farmers Home Administration) Purpose: 1 - Home purchase (one-to-four family) 2 - Home Improvement (one-to-four family) 3 - Refinancing (home purchase, one-to-four family) 4 - Multifamily dwelling (home purchase, home improvement, and refinancings) Occupancy: 1 - Owner-occupied as a principal dwelling 2 - Not owner-occupied 3 - Not applicable Action Taken: 1 - Loan originated 2 - Application approved but not accepted by applicant 3 - Application-denied 4 - Application withdrawn 5 - File closed for incompleteness 6 - Loan purchased by your institution _____________________________________________________________________ LOAN/APPLICATION REGISTER (Continued) Applicant Information Race or National Origin: 1 - American Indian or Alaskan Native 2 - Asian or Pacific Islander 3 - Black 4 - Hispanic 5 - White 6 - Other 7 - Information not provided by applicant in mail or telephone application 8 - Not applicable Sex: 1 - Male 2 - Femle 3 - Information not provided by applicant in mail or telephone application 4 - Not applicable _____________________________________________________________________ LOAN/APPLICATION REGISTER (Continued) Type of Purchaser 0 - Loan was not sold in calender year covered by register 1 - FNMA (Federal National Mortgage Association) 2 - GNMA (Govemment National Mortgage Association) 3 - FHLMC (Federal Home Loan Mortgage Corporation) 4 - FmHA (Federal Home Administration) 5 - Commercial Bank 6 - Savings Bank or Savings Association 7 - Life Insurance Company 8 - Affiliate institution 9 - Other type of purchaser Reasons for Denial 1 - Debt-to-Income ratio 2 - Employment history 3 - Credit history 4 - Collateral 5 - Insufficient cash (downpayment, closing costs) 6 - Unverifiable information 7 - Credit application incomplete 8 - Mortgage Insurance denied 9 - Other