The Federal Reserve is working on proposals forcing lenders to submit more detailed mortgage loan information to the government, but regulators are juggling the need for more transparency and how that information could cost borrowers their privacy. Lenders are required to submit loan information through the Home Mortgage Disclosure Act. Glenn Canner senior adviser at the research and statistics division for the Fed, said the new proposal will come in the spring of 2012, and based on regulation under Dodd-Frank, lenders must be in compliance the following January. Canner did admit the borrower could be at risk. “It certainly puts the privacy of the borrower front and center,” Canner said during a session at the Wolters Kluwer CRA & Fair Lending Colloquium in Las Vegas Monday. He added that regulators are looking for solutions such as just pulling raw data. According to one proposal the Fed is discussing, the government will publicize loan information without the lender’s identification or the geography of the loan. All other data such as the mortgage’s loan-to-value ratio would be disclosed. Another solution, he said, is a pooling the information in groups of four to five loans to conceal sensitive borrower identification such as geography, credit score and downpayment. Whatever the new reporting standards will be, Canner said the public needs more information on the mortgages the industry writes. To put the continuing burst of the housing bubble to scale, Canner said home purchases have dropped 60% since 2009. “There’s a concern about borrower privacy,” Canner said, “but we need to have as much information as possible.” Write to Jon Prior