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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 state, California. As of Sept. 18, early look lenders who…
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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 from the database on rural lending. You can…
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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 done through LendingPatterns™. Total finance for those mortgage loans comes to $151 billion…
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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 into Ginnie Maes. I reported in my last blog that two of three FHA loans by…
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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 Act data to ComplianceTech show two FHA loans bought by Fannie Mae and 37 by Freddie Mac.…
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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 securitization investors bought just 3,273 loans last year. (The numbers are…
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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 share came to a little more than 51 percent. (Percentages refer to mortgage dollars, and…
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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 advance. To date, more than 125 lenders have, and…
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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 Angeles that year. On the dollar side, whites received just 37 percent…
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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 included). But there were many fewer loans made in Chicago, suggesting the average…