| FOR IMMEDIATE RELEASE: August 18, 1998
Michigan Financial Institutions Bureau Commissioner, Patrick M.
McQueen, announced today that data compiled under the federal Home
Mortgage Disclosure Act are available. The data cover mortgage and
home improvement loan applications taken by lenders during 1997
and provide information such as the amount and terms of a loan request,
the decision made, the census tract where the subject property is
located, and certain borrower characteristics. Demographic information
and aggregate information on home loans by census tract for each
metropolitan area also are available.
The data are available in a variety of media formats from the Federal
Financial Institutions Examination Council. Questions related to ordering
the data may be directed to the Council by telephone at (202) 452-2016
or by facsimile at (202) 452-6497. Both metropolitan area aggregate and
institution disclosure data also may be downloaded via the Council's HMDA
Web site at http://www.ffiec.gov/hmda/.
The Michigan Financial Institutions Bureau is the primary regulator
of Michigan's state-chartered banks, credit unions, savings banks,
and over 4000 other licensed lenders
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