-
VA Mortgages Hit $150 Billion
Department of Veterans Affairs mortgages hit $150 billion in 2015, up about 30 percent from the $115 billion of mortgages guaranteed in 2014. That’s right in line with the increase the nationwide mortgage market registered that year. Originations (excluding purchases) did not quite hit 50 percent in 2015, with $307 billion in applications for an…
-
Upper/Lower Income Applicants Show Major Differences
A look at mortgage applicants with the highest and lowest incomes in 2015 reveals major differences between the two cohorts, as well as the occasional similarity. Both groups were similar, for instance, in loan purpose, with each cohort fairly split between home purchase and refinancing business. Upper income borrowers applied for 45 percent purchase and…
-
Bank in Texas Leads Minority-Owned Bank/Thrift Mortgage Volumes for 2015
A Hispanic-owned bank in Texas funded the most minority-owned bank/thrift mortgage dollars in 2015, followed by two Asian American banks. International Bank of Commerce, Laredo Texas, made $347 million in mortgages in 2015, making it the biggest minority owned bank or thrift in home loan finance, according to 2015 Home Mortgage Disclosure Act data. CTBC…