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ADD NAME/TITLE HERE. REPORT ON HOME LOAN MORTGAGE DISCLOSURE ACT (HLAMDA) PRESENTATION TO THE PORTFOLIO COMMITTEE ON HOUSING DATE: 28 JULY 2010. 1.

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  1. ADD NAME/TITLE HERE REPORT ON HOME LOAN MORTGAGE DISCLOSURE ACT (HLAMDA) PRESENTATION TO THE PORTFOLIO COMMITTEE ON HOUSING DATE: 28 JULY 2010 1

  2. All financial institutions have an obligation to disclose the required home loans information on annual basis in terms of the Home Loan and Mortgage Disclosure Act (HLAMDA) 63 of 2000. The main purpose of HLAMDA is to promote fair lending practices, which require disclosure by financial institutions of information regarding the provision of home loans and thereby eliminate discriminatory lending patterns. The analysis of the information provided will enable the department to make informed decisions in identifying problem areas in order to respond appropriately. Overview

  3. TOTAL APPLICATIONS RECEIVED PER BANK

  4. TOTAL APPLICATIONS RECEIVED PER RACE

  5. APPLICATIONS RECEIVED PER RACE

  6. APPLICATION RECEIVED PER INCOME CATEGORY

  7. TOTAL APPLICATIONS APPROVED PER BANK

  8. INDIVIDUAL BANKS’APPLICATIONS APPROVED PER RACE

  9. PERCENTAGE OF APPLICATIONS APPROVED PER RACE

  10. TOTAL APPLICATIONS APPROVED PER BANK

  11. TOTAL APPLICATIONS DECLINED PER RACE

  12. PERCENTAGE OF APPLICATIONS DECLINED PER BANK

  13. TOTAL APPLICATIONS RECEIVED PER PROVINCE

  14. PERCENTAGE OF APPLICATIONS RECEIVED PER PROVINCE

  15. PERFORMANCE RATINGS

  16. FINDINGS • 1.1 million home loan applications received with a total value of R250 billion. • 164 075 (15%) were approved and 458 500 (42%) were declined. • The banks approved home loans to the value of R106 billion and declined applications worth R84 billion. • poor quality of information submitted. • The use of “Other and Unknown” categories contributed negatively to the credibility of information provided. • required information was not provided. • On the positive side, data from small financial institutions was of good quality.

  17. WAYFORWARD The following recommendations are made in compliance to Section 5(1) (g) of HLAMDA: • Compliance Manual needs to be reviewed. • Section 2(4) of HLAMDA can not be implemented. • national data repository system should be developed.

  18. I THANK YOU 18

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