Federal Reserve Board will examine information collected from mortgage lenders

The Federal Reserve Board will hold hearings to examine whether changes need to be made in a regulation that requires mortgage lenders to provide detailed reports of activity to regulators and the public. 

The Board will evaluate whether 2002 revisions to the Regulation C, requiring lenders to report mortgage pricing dates and information about the mortgage market. The hearings also will examine information to help the Board determine the need for more data and improvements and identify emerging issues in the mortgage market that may warrant more research, the Board announced on Friday. 

The Fed will hold four hearings beginning in July on revisions to Regulation C, which implements the Home Mortgage Disclosure Act. The act requires mortgage lenders to provide annual reports on their mortgage lending activity. 

The hearings will take place at the Federal Reserve Banks in several cities: July 15 in Atlanta, Aug. 5 in San Francisco, Sept. 16 in Chicago and Sept. 24 in Washington, D.C.