Conclusions

The Senate Banking Committee is to be commended for its continued efforts to see that the data compiled under the Home Mortgage Disclosure Act of 1975

is effectively analyzed for future public policy decisions and program development. Without Congressional monitoring, it appears that the very community organization

that developed and fought for this legislation would be left to their own analytical devices.

I would also urge that you ask federal regulatory agencies and HUD to examine mortgage disclosure data for concentration of FHA and VA loans in certain neighborhoods and to question why? Is the volume of insured mortgages based on the financial resources of the current buyer or the lenders' perception of the neighborhood as "high risk"?

Finelly, I would strongly recommend that in major urban areas, a means of examining the regular mortgage loan process be established. While reinvestment efforts

like Neighborhood Housing Services muy do well by a few, small areas of the cicy, they are "special" urban loan programs I believe it is crucial to assess the "rules" by which home loan decisions are made through rypeals procedures like the Mortgage Review Board in Boston.

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