WASHINGTON—The Federal Financial Institutions Examination Council (FFIEC), which includes NCUA, has announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA).
The data covers 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.
According to the FFIEC, the Snapshot National Loan-Level Dataset contains the national HMDA datasets as of May 1, 2023. Key observations from the Snapshot include the following:
- For 2022, the number of reporting institutions increased by about 2.63% from 4,338 in the previous year to 4,460
- The 2022 data include information on 14.3 million home loan applications. Among them, 11.5 million were closed-end and 2.5 million were open-end. Another 287,000 records are from financial institutions making use of Economic Growth, Regulatory Relief, and Consumer Protection Act’s partial exemptions and did not indicate whether the records were closed-end or open-end
- The share of mortgages originated by non-depository, independent mortgage companies has decreased and, in 2022, accounted for 60.2% of first lien, one- to four-family, site-built, owner-occupied home-purchase loans, down from 63.9% in 2021
- In terms of borrower race and ethnicity, the share of closed-end home purchase loans for first lien, one- to four-family, site-built, owner-occupied properties made to Black or African American borrowers rose from 7.9% in 2021 to 8.1% in 2022, the share made to Hispanic-White borrowers decreased slightly from 9.2% to 9.1%, and those made to Asian borrowers increased from 7.1% to 7.6%
- In 2022, Black or African American and Hispanic-White applicants experienced denial rates for first lien, one- to four-family, site-built, owner-occupied conventional, closed-end home purchase loans of 16.4% and 11.1% respectively, while the denial rates for Asian and non-Hispanic-White applicants were 9.2% and 5.8% respectively
Other Products Released
The FFIEC said it has also released several other data products:
- HMDA Dynamic National Loan-Level Dataset
- Aggregate and Disclosure Reports
- HMDA Data Browser
- Loan/Application Registers
Additional observations regarding the 2022 data may be found here.
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