The Home Mortgage Disclosure Act (HMDA) data is the bedrock of mortgage industry market intelligence, offering unparalleled transparency to lenders, regulators, and market researchers. HMDA is known for transparency, accountability, and, after the 1989 amendments, fair lending. With the 2018 expansion of data points, competitive intelligence and fair lending use cases became especially powerful.
There are three big dates on the HMDA calendar.
This is the annual filing deadline for lenders to report their loan data to the CFPB.
By the end of March, it is the CFPB that is under deadline: it is required to make the HMDA data public before April 1. LAR is the Loan/Application Register (effectively a spreadsheet with one row per loan); modified has to do with privacy: the government holds back fields, like property address, and modifies others, like rounding the loan amount. The CFPB updates the Modified LAR throughout the Spring as lenders file late or submit corrections.
The summer release is not a statutory requirement, so it doesn’t have a fixed date. Its contents are the same as the Modified LAR – it is the same data, but it is augmented with several additional columns and is updated weekly throughout the year (and into ensuing years) with late and corrected filings. The additional columns fall into two categories: 1) derived fields like combining the 10 race fields (each the applicant and the co-applicant an specify up to 5 races) into a single combined field, and 2) value-add fields like the LMI (income) status of the census tract where the property securing the loan is located.
There is one more nuance about the National Loan Level Dataset: it comes in two flavors. This year it was first published June 23 in what the CFPB calls its Dynamic publication. This is the one that will be updated weekly going forward. Alongside of this, the CFPB publishes a series of Snapshot versions, which, as the name implies, are date-specific National Loan-Level publications that it uses for its own reports. The first Snapshot version this year is dated June 2 (note that this is earlier in the year that the first Dynamic publication, even though it only became available on June 23).
Our mission is to unlock and leverage housing finance data for four use case pillars: Measure, Compete, Grow, Include (MCGI), recognizing that everything from strategy to marketing to M&A to fair lending to LO enablement is built on top of these pillars. Our software - Polygon Vision, Polygon Pulse, Polygon Risk, and our new portal https://mortgagedata.ai – are all in service of this mission.
We use the word “unlock” advisedly: the first 2025 modified LAR was over 3GB in size; the first dynamic file was over 5GB, and in our HMDAVision web app we include 8 years of this data at your fingertips, in-memory (on our side – all you need is a browser). This is not spreadsheet territory.
We also don’t make you wait for the Summer for the extra fields that make that second file so much larger. Since the CFPB publishes its algorithms, and since the Census data is also available, we assemble and calculate all the fields in advance – we made all the fields seamlessly available this year on April 1, the day after the CFPB’s Spring publication.
We also treat HMDA like the living data set it is, updating our software monthly with those late filings and corrections. This year for instance, between March 31 June 23 we welcomed 12 late filers and 5,772 net additional loans. When someone talks about “2025 HMDA”, look for a date and which data publication they are referencing.
Finally, we don’t let HMDA stand on its own – we complement it with the rest of the industry’s data – current year and historical – conformed and ready for your workflow: Explore (charts, maps, tables), Chat (AI), or Build (automated reports) – either interactively or via our AI API.
Ready for a competitive clarity? Subscribe to our newsletter for real-time updates on HMDA data releases and actionable insights, start a free trial, or simply book a mortgage market intel consultation to see how our tools keep your strategy sharp year-round.
Navigate HMDA data releases with confidence. Understand the National Loan Level Dataset's power & how Polygon Research delivers unified insights for compliance and market strategy.
The Home Mortgage Disclosure Act (HMDA) data is the bedrock of mortgage industry market intelligence, offering unparalleled transparency to lenders, regulators, and market researchers. HMDA is known for transparency, accountability, and, after the 1989 amendments, fair lending. With the 2018 expansion of data points, competitive intelligence and fair lending use cases became especially powerful.
There are three big dates on the HMDA calendar.
This is the annual filing deadline for lenders to report their loan data to the CFPB.
By the end of March, it is the CFPB that is under deadline: it is required to make the HMDA data public before April 1. LAR is the Loan/Application Register (effectively a spreadsheet with one row per loan); modified has to do with privacy: the government holds back fields, like property address, and modifies others, like rounding the loan amount. The CFPB updates the Modified LAR throughout the Spring as lenders file late or submit corrections.
The summer release is not a statutory requirement, so it doesn’t have a fixed date. Its contents are the same as the Modified LAR – it is the same data, but it is augmented with several additional columns and is updated weekly throughout the year (and into ensuing years) with late and corrected filings. The additional columns fall into two categories: 1) derived fields like combining the 10 race fields (each the applicant and the co-applicant an specify up to 5 races) into a single combined field, and 2) value-add fields like the LMI (income) status of the census tract where the property securing the loan is located.
There is one more nuance about the National Loan Level Dataset: it comes in two flavors. This year it was first published June 23 in what the CFPB calls its Dynamic publication. This is the one that will be updated weekly going forward. Alongside of this, the CFPB publishes a series of Snapshot versions, which, as the name implies, are date-specific National Loan-Level publications that it uses for its own reports. The first Snapshot version this year is dated June 2 (note that this is earlier in the year that the first Dynamic publication, even though it only became available on June 23).
Our mission is to unlock and leverage housing finance data for four use case pillars: Measure, Compete, Grow, Include (MCGI), recognizing that everything from strategy to marketing to M&A to fair lending to LO enablement is built on top of these pillars. Our software - Polygon Vision, Polygon Pulse, Polygon Risk, and our new portal https://mortgagedata.ai – are all in service of this mission.
We use the word “unlock” advisedly: the first 2025 modified LAR was over 3GB in size; the first dynamic file was over 5GB, and in our HMDAVision web app we include 8 years of this data at your fingertips, in-memory (on our side – all you need is a browser). This is not spreadsheet territory.
We also don’t make you wait for the Summer for the extra fields that make that second file so much larger. Since the CFPB publishes its algorithms, and since the Census data is also available, we assemble and calculate all the fields in advance – we made all the fields seamlessly available this year on April 1, the day after the CFPB’s Spring publication.
We also treat HMDA like the living data set it is, updating our software monthly with those late filings and corrections. This year for instance, between March 31 June 23 we welcomed 12 late filers and 5,772 net additional loans. When someone talks about “2025 HMDA”, look for a date and which data publication they are referencing.
Finally, we don’t let HMDA stand on its own – we complement it with the rest of the industry’s data – current year and historical – conformed and ready for your workflow: Explore (charts, maps, tables), Chat (AI), or Build (automated reports) – either interactively or via our AI API.
Ready for a competitive clarity? Subscribe to our newsletter for real-time updates on HMDA data releases and actionable insights, start a free trial, or simply book a mortgage market intel consultation to see how our tools keep your strategy sharp year-round.
HMDAVision helps lenders measure market share, compare performance with peers, identify geographic and borrower opportunities, and evaluate fair lending and community reach. Users can analyze multiple years of HMDA data through interactive charts, maps and tables without downloading or preparing the underlying files.
Polygon Research standardizes and enriches HMDA data so it is ready for analysis. HMDAVision combines multiple years of loan-level data with derived fields, census information and consistent lender and market classifications, allowing users to move directly from public data to practical market intelligence.
Many fields added to the summer National Loan-Level Dataset are based on published CFPB methodologies and publicly available census data. Polygon Research calculates and integrates those fields earlier, allowing HMDAVision users to begin deeper market, peer and fair lending analysis shortly after the Modified LAR is published.
Yes. Institutions may submit late filings, corrections and resubmissions after the Modified LAR is initially published. Analyses of the same HMDA year can therefore produce different results depending on the publication used and the date the data was downloaded. Polygon Research refreshes HMDAVision throughout the year to incorporate these changes.