-
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 money turned down. In all, $426 billion in denials was registered in…
-
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 during that year,…
-
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 told, these lenders extended $584 billion…
-
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 volume fell off by 10 percent in 2015 from 2014, according to an…
-
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 differences in their Home Mortgage Disclosure Act profiles. A…
-
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 $47 billion in jumbo lending was a hefty 58 percent…
-
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 loans are excluded from this analysis). In total more than 31 percent of…
-
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 LendingPatterns™. So a list of CU home loans by Congressional district would be top heavy…
-
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 billion in 2015 mortgage volume in the Sunshine State went to Hispanics, 14 percent…
-
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 the average mortgage made in California in 2015 to more than the conforming limit.…