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Should we use the word “gender” or “sex” in the Home Mortgage Disclosure Act notice/sign? We say “gender,” but the FFIEC suggests “sex”. – IBA Compliance Connection

IBA Compliance Connection

Your go to source for compliance!

Should we use the word “gender” or “sex” in the Home Mortgage Disclosure Act notice/sign? We say “gender,” but the FFIEC suggests “sex”.

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Regulation C does not require use of the model HMDA disclosure and allows you to use “any text that meets the requirements of the regulation.” Comment 1, Official Staff Commentary, 12 CFR 1003.5(e). If you do want to follow the model form, note that the 2002 amendment to Regulation C replaced the word “gender” with the word “sex” in the model notice:

The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected. [Comment 1, Official Staff Commentary, 12 CFR 1003.5(e).]

The FFIEC’s website also uses “sex” in its model notice.