Back in 1968, the Fair Housing Act was passed to protect home buyers from discriminations in mortgage lending. Did it work? Not really. So, in 1975, Congress enacted the Home Mortgage Disclosure Act or HMDA. It's a disclosure law, implemented by the Federal Reserve Board's Regulation C, and it requires covered institutions to compile and disclose data of applications for, originations of, and purchase of home purchase loans, home improvement loans, and refinancing. In this program, we'll talk about which financial institutions this applies to, which transactions are covered, and which are excluded. We'll also discuss what needs to be recorded, reported, and disclosed.