What must institutional lenders with assets over ten million dollars do under the Home Mortgage Disclosure Act?

Under the Home Mortgage Disclosure Act (HMDA), institutional lenders with assets over ten million dollars are required to make annual reports on their residential mortgage loans. This obligation is designed to provide transparency in lending practices, particularly in relation to the accessibility of loans to different demographic groups and in various geographic areas. The data collected through these reports helps regulators, researchers, and the public make informed assessments of lending patterns and potential discrimination in the mortgage market.

This requirement ensures that lenders are held accountable for their lending practices, as the reports contain information on loan applications, originations, and denials, as well as the demographics of applicants. Compliance with this aspect of HMDA is crucial for maintaining fair lending practices and for the protection of consumers seeking mortgage loans. The other choices do not accurately reflect the specific requirements placed on lenders under HMDA.