Which of the following transactions is subject to HMDA?

The Home Mortgage Disclosure Act (HMDA) aims to provide the public with important information about mortgage lending and ensure transparency in lending practices. Under HMDA, certain transactions must be reported, and this includes not only home purchase transactions but also home equity lines of credit and all loans secured by a dwelling.

These provisions ensure that a wide range of mortgage activities are captured, which is crucial for monitoring lending patterns and practices. By including home equity lines of credit, HMDA recognizes the significance of various forms of borrowing against the equity of a home, which can impact borrowers' financial stability and access to credit.

In contrast, transactions like only home purchase loans or business purpose loans fall outside the scope of HMDA reporting requirements. Similarly, commercial real estate transactions are not included under HMDA since the act primarily focuses on residential lending practices. Hence, the inclusion of home equity lines of credit alongside loans secured by a dwelling as part of HMDA's scope is what makes this choice the correct one.