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Nearly Half a Million HMDA Mortgages in California
As the fall gets underway I am looking forward to the release of the full 2016 Home Mortgage Data Act (HMDA) report by the Federal Financial Institutions Examination Council. In the meantime, let’s see what Early Look filers will tell us about the biggest mortgage...
Rural America Gets Mortgages, Too
With LendingPatterns™ you can measure the volume of mortgages done in all of the country’s metropolitan statistical areas. But what if the rural parts of the country interest you as much as the urban parts? There is a good bit of information I’ve been able to glean...
Early Reporters Made One in Five Mortgages to Minorities
Early Look HMDA responders have reported making 21 percent of their 2016 mortgages to minorities. Of lenders who have pre-reported their HMDA data to ComplianceTech as of Aug. 17, 558,000 of 2.7 million originations have gone to minorities, according to an analysis...
Four of five VA mortgages going into Ginnie Mae MBS
Nearly four out of five Department of Veterans Affairs mortgages originated in 2016 by early HMDA reporters are finding their way into Ginnie Mae securities, LendingPatterns™ data show. That’s an even higher percentage than Federal Housing Administration loans going...
Two thirds of FHA mortgages are finding their way into Ginnie Mae MBS
It isn’t true that all Federal Housing Administration mortgages are being pooled into Government National Mortgage Association mortgage-backed securities, an early look at 2016 HMDA numbers show. Well, it’s almost true. Early reporters of 2016 Home Mortgage Disclosure...
Private Label Securities Still Not Robust in 2016
The private label securitization market still hasn’t come back to full life, based on the evidence of an early look at 2016 Home Mortgage Disclosure Act data. LendingPatterns™ Early Look data, which contain more than a third of 2015’s HMDA volume, show that private...
Agency Volume for 2016 Is 48 Percent in Early Going
Agency and non-agency/not sold mortgages were neck and neck in early HMDA reporting. The three main agencies had a little more than 48 percent of early reporter volumes in the 2016 Early Look reports on LendingPatterns™. Non-agency investors and held-in-portfolio...
Early HMDA Reporters Like Jumbos, Refis
It’s here! The Early Look report gives HMDA heads like me a chance to preview 2016 Home Mortgage Disclosure Act data in advance of the official fall release. What happens is, ComplianceTech asks firms that have filed their HMDA reports for 2016 to share them in...
A Tale of Two Mortgage Cities, New York and Los Angeles
Whites received less than half the mortgages originated in the nation’s two most populous cities in 2015. According to data in LendingPatterns™, whites received about 46 percent of mortgages in New York City, the nation’s largest, and 49 percent in runner up Los...
A Tale of Two More Mortgage Cities
The nation’s third and fourth most populous cities, Chicago and Houston, are similar in population (both between two and three million) and in the dollar volume of mortgages made in them in 2015 (Chicago $17.8 billion, Houston $17.1 billion, purchased mortgages not...
Mortgage Denials Tilted Toward Refis in 2015
Potential borrowers were more than twice as likely to see their applications for refinancing dollars denied in 2015 as apps for purchase finance. A look at LendingPatterns™ shows $280 billion of refi denials that year, with just $127 billion of requests for purchase...
Small Mortgage Lenders Saw Only a Small Piece of the Pie
It is a tale of two cities, the mortgage lenders with the most assets in 2015 compared to those in the smallest asset group. In my last blog I looked at the 107 lenders with more than $10 billion in assets. They made more than half a trillion dollars in home loans...
Big Mortgage Lenders Went for Jumbos in 2015
The 107 lenders at the top of the mortgage leader board in 2015, the ones with more than $10 billion in assets, made more than half a trillion dollars in home loans during that year (excluding purchased loans). And more than half of that was in jumbo mortgages. All...
Nonprime Lenders Show Some Range
Nonprime lenders are an interesting group. They don’t always fund only nonprime loans. Their spreads on subordinate liens are actually a couple of basis points lower than those of prime lenders. And they fund a high percentage of manufactured housing. Nonprime lender...
Illinois Is a Conforming State
Illinois in some respects is quite similar to the last state I profiled, New York. Like the Empire State, Illinois has a huge urban center (Chicago) similar to New York City and a lot of non-urban areas comparable to “upstate” New York. But there are significant...