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HMDA Race, Ethnicity Categories Not Set in Stone
Race and ethnicity data are one of the hallmarks of HMDA reporting. But the categories are by no means set in stone. The last major changes came for the 2000 Census, with all government agencies having to implement them by 2003. It is interesting both to wonder when the next revisions might come and to…
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ComplianceTech Announces a Major Update to its Industry Leading Web-based Tool for Mortgage Lending Intelligence and Fair Lending/CRA Compliance
ComplianceTech, McLean, VA, announced today a major update to its industry leading web-based tool for mortgage lending intelligence and fair lending/CRA compliance. This new update helps lenders, regulators, researchers, and community-based housing organizations to identify communities with limited access to credit. The system compares a lender’s market share in majority-minority versus majority white census tracts.…
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Early Responders Report $750 Billion in 2015 Mortgages
There’s just time for another quick peak at the “early look” HMDA responders in advance of the official 2015 release. It will be interesting to see how this sample compares to the full universe of HMDA responders! The early look isn’t comprehensive, but it is quite sizable: applications for nearly six million mortgages for $1.4…
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An Industry Moving Toward a More Intelligent Design: National Mortgage News 40th Anniversary
National Mortgage News is celebrating 40 Years. Please use the link to see the article that utilizes data from www.LendingPatterns.com. https://www.nationalmortgagenews.com/news/nonbank-lenders-market-share-is-at-a-two-decade-high-heres-why
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First Republic: Is It Wrong to Build a Bank for Wealthy Clients Only? – WSJ- Mention of LendingPatterns (August 17, 2016)
LendingPatterns.com is mentioned in the Wall Street Journal today. Click on the link to read the article: First Republic: Is It Wrong to Build a Bank for Wealthy Clients Only?
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LP Good for Looking at Small Niches As Well As Large Ones
In my last blog I looked for a trend for 2015 early HMDA responders for one of the biggest cohorts in the mortgage industry—FHA lenders. But LendingPatterns™ also yields lots of data for much smaller niches. For instance I’ve been following mortgage lending to Native Americans for years, as part of my Community Reinvestment Act…
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Patterns in FHA Lending: Banks Lessening Share?
Recent news reports say that commercial banks are lessening their share of Federal Housing Administration loans. What can LendingPatterns™ tell us about this potential trend? Taking a look at the Early Look for 2015 data, six of the top 20 FHA lenders are banks, although several more are mortgage banks affiliated with banks. By comparison,…
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Jumbo Mortgages Play Larger Role at U.S. Banks – Wall Street Journal July 4, 2016
The jumbo mortgage business keeps getting bigger for banks. These high-dollar home loans rose to 24% of mortgage approvals at six of the largest U.S. banks in 2015 from 21% the year before, according to an analysis of federal home-loan data. These mortgages to the affluent, typically worth more than $417,000, have become increasingly popular…
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Getting a Sneak Peek at the 2015 HMDA Numbers
It is now possible to get a four month jump on seeing what is in the 2015 Home Mortgage Disclosure Act data. That’s because 175 lenders who generated more than 40 percent of last year’s application numbers, have reported their numbers early, with the results now collected in LendingPatterns™. It can be accessed at “Early…
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More Than 6,000 Lenders Made Mortgages to Women in 2014
I went looking in LendingPatterns™ to see how many women-owned banks and thrifts there were in 2014 and came up with—none. But there are more than 6,000 lenders that made loans to women in that year. Women (either alone, as primary applicant, or two women together) applied for more than half a trillion dollars’ worth…