WASHINGTON—New data offers some insights into trend lines in mortgage lending.
The Federal Financial Institutions Examination Council (FFIEC) has released data on mortgage lending transactions at 6,762 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA).
Covered institutions include banks, savings associations, credit unions, and mortgage companies.
The HMDA data cover 2016 lending activity and include:
- Applications, originations, purchases, sales of loans, denials, and other actions related to applications
- Loan amounts
- Loan types (conventional, Federal Housing Administration (FHA), Veterans Administration (VA), Rural Housing Service (RHS), or Farm Service Agency (FSA))
- Purposes (home purchase, home improvement, or refinancing)
- Property types (1–4 family, multifamily, or manufactured housing)
- Owner occupancy
- Preapprovals (home purchase loans only)
- Property locations (metropolitan statistical area (MSA), state, county, and census tract)
- Applicant and co-applicant characteristics (race, ethnicity, sex, and income)
- Pricing-related data
- Type of purchasers
- Whether a particular loan is subject to the Home Ownership and Equity Protection Act (HOEPA)
- Whether a particular loan is secured by a first or subordinate lien, or is unsecured
The data also include disclosure statements for each financial institution, aggregate data for each MSA, nationwide summary statistics regarding lending patterns, and Loan/Application Registers (LARs) for each financial institution (LARs are modified to protect borrower privacy).
The FFIEC said it prepares and distributes this information on behalf of its member agencies.
The 2016 HMDA data use the census tract delineations, population, and housing characteristic data from the 2010 Census and the 2006–2010 American Community Survey (ACS), as has been the case since 2012, when these delineations and data were first used. In addition, the data reflect MSA definitions released by the Office of Management and Budget in 2013 that became effective for HMDA purposes in 2014, the FFIEC explained.