To: All Member Banks and Others Concerned in the Third Federal Reserve District

Attention: Chief Executive Officers and Compliance Officers



The Federal Reserve Board is proposing amendments to its Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). This proposal relates to a final rule that amended the regulation. The issues on which the Board seeks public comment are: (1) the appropriate threshold for collecting price data on higher-cost loans; (2) a proposal to require lenders to ask telephone applicants their race, ethnicity, and sex; and (3) a proposal to require lenders to report lien status for applications and originated loans.

Comment Requested: Comments must be received by April 12, 2002. Comments should refer to Docket No. R-1120 and be mailed to Ms. Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, N.W., Washington, D.C. 20551. However, because paper mail at the Board of Governors is subject to delay, consider submitting your comments by e-mail to or faxing them to the Office of the Secretary at (202) 452-3819 or 452-3102.

Additional Information: A copy of the proposed amendments is attached (23 KB, 8 pages). For additional information, contact the Regulations Assistance Unit at this Reserve Bank at (215) 574-6568 or John C. Wood, Counsel, Kathleen C. Ryan, Senior Attorney, or Dan S. Sokolov, Attorney, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C., at (202) 452-3667 or 452-2412.