12 CFR 27.4 - Inquiry/Application Log.

§ 27.4 Inquiry/Application Log.
(a) The Comptroller, among other things, may require a bank to maintain a Fair Housing Inquiry/Application Log (“Log”), based upon, but not limited to, one or more of the following causes:
(1) There is reason(s) to believe that the bank may be prescreening or otherwise engaging in discriminatory practices on a prohibited basis.
(2) Complaints filed with the Comptroller or letters in the Community Reinvestment Act file are found to be substantive in nature, indicating that the bank's home lending practices are, or may be, discriminatory.
(3) Analysis of the data compiled by the bank under the provisions of the Home Mortgage Disclosure Act (12 U.S.C. 2801 et seq. and Regulation C of the Federal Reserve Board, 12 CFR part 203) indicates a pattern of significant variation in the number of home loans between census tracts with similar incomes and home ownership levels, differentiated only by race or national origin (i.e., possible racial redlining).
(b) The Comptroller, when requiring the maintenance of a Log, will specify in writing:
(1) The location(s) where the information shall be obtained;
(2) The length of time it shall be maintained;
(3) The frequency with which it shall be submitted to the Comptroller; and
(4) The reason(s) for imposing this requirement.
(c) A bank which has been directed by the Comptroller to maintain a Log shall obtain and note all of the following information regarding each inquiry or application for the extension of a home loan and each inquiry or application for a government insured home loan (not otherwise included in this part):
(1) Date of application or inquiry.
(2) Type of loan using the categories: purchase, construction-permanent; refinance; and government insured by type of insurance, i.e., FHA, VA, and FmHA (if applicable).
(3) Indication of whether the entry refers to an application or an inquiry.
(4) Case identification (either a unique number which permits the application file to be located, or the name(s) and address(es) of the applicant(s)).
(5) Race/national origin of the inquirer(s) or applicant(s) using the categories: American Indian or Alaskan Native; Asian or Pacific Islander; Black, not of Hispanic origin; White, not of Hispanic origin; Hispanic; Other. In the case of inquiries, this item shall be noted on the basis of visual observation or surname(s) only. In the case of applications, the information shall be obtained pursuant to § 27.3(b)(2).
(6) Location. Complete street address, city, county, state and zip code of the property which will secure the extension of credit. The census tract shall also be recorded when the property is located in an SMSA in which the bank has a home office or branch office.
(d) The information required under § 27.4(c), of this part, shall be recorded and maintained on the form set forth in appendix III. Additional information may be recorded and maintained at the bank's discretion.
[44 FR 63089, Nov. 2, 1979, as amended at 59 FR 26415, May 20, 1994]

Title 12 published on 2014-01-01

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United States Code
U.S. Code: Title 12 - BANKS AND BANKING
U.S. Code: Title 15 - COMMERCE AND TRADE
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE