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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...
New York Is the Home of the Million Dollar Jumbo
New York state had quite a high dollar volume of jumbo mortgages in 2015, Home Mortgage Disclosure Act data show. Of $80 billion in mortgage finance done in the Empire State (this analysis excludes mortgages purchased) during 2015, more than half went to jumbos. The...
More Than Half a Million Texans Got Mortgages in 2015
More than half a million Texans received mortgages in 2015 for more than $122 billion in home finance, Home Mortgage Disclosure Act data show. Specifically, 557,000 residents of the Lone Star State got mortgages, with more than 100,000 going to Hispanics (purchased...
HMDA’s Fun Facts for Credit Unions
Here are some fun facts to know and tell about credit unions as the Credit Union National Association holds its annual Governmental Affairs Conference in Washington, DC: -California is the state with the most credit union mortgage lending, according to...
Florida Shows High Proportion of Hispanic Borrowers And Non-Owner Occupied Units in 2015 HMDA Data
Florida is a state with a considerable Hispanic population and a reputation as a valued source for investor real estate interest. Home Mortgage Disclosure Act data from LendingPatterns™ tend to back both of those characteristics. Nearly $14 billion of nearly $100...
Jumbo Mortgages More Than Half California 2015 Volume As the Average for All Loans Tops the Conforming Limit
More than half of mortgage dollars originated in California in 2015 were for more than the then-$417,000 conforming loan limit, according to Home Mortgage Disclosure Act data analyzed through LendingPatterns™. So many dollars went to jumbos, in fact, that they brought...
Rural Mortgages Differ from Urban and Suburban Ones
I have always been interested in rural housing and mortgages, and LendingPatterns™ has a lot of good information on this small niche of the lending business. There is a category here for “FSA/RHS” which is a combination of two US Department of Agriculture lending...
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)...
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...
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...
CFPB Lenders Made One Third of 2015 Mortgages
It is not hard to isolate most of the nation’s biggest mortgage lenders in LendingPatterns™. The Consumer Financial Protection Board has reserved the category of lenders with $10 billion in assets and above for itself, and there are a lot of familiar names there. The...
94 Percent of HMDA Lenders Made Mortgages to Women in 2015
Nearly all the lenders that made mortgages last year made mortgages to women. Of the 6,880 firms that reported Home Mortgage Disclosure Act originations data to the Federal Financial Institutions Examinations Council in 2015, 6,498 granted mortgage dollars to women....
FDIC Lenders Made $181 Billion in Mortgages in 2015
Lenders insured by the Federal Deposit Insurance Corp. saw their originations volume bump up to $181 billion in 2015 from $140 billion in 2014, HMDA data show. Almost 2,500 lenders (2,476) are counted in the FDIC category in LendingPatterns™. However, this doesn’t...
Patterns in FHA Lending: Non-banks Increase Domination as Share Jumps
The rise to dominance in Federal Housing Administration lending by non-banks continued in 2015, as just two banks made the top 20 ranking, Home Mortgage Disclosure Act data show. For 2014, there were four banks in the top 20, but Bank of America and JPMorgan Chase...