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 of the state’s total, according to LendingPatterns™.

Not surprisingly, a lot of those mortgages were not sold into the secondary market, as lenders have traditionally considered jumbos good portfolio products. About 52 percent of New York mortgage dollar production for 2015 was not sold.

The jumbo share of the number of mortgages made is not as large, suggesting that jumbo amounts were quite high. Of the 228,000 total mortgages extended, just 19 percent (42,298) were jumbos. That means jumbos averaged about $1.1 million apiece. The 186,000 conforming loans got $33.5 billion in finance, or about $180,000 per loan, making New York a tale of two loan markets, corresponding perhaps too pricey New York City and “upstate” New York.

With such high loan amounts for jumbos, you’d expect to see a high average loan amount for the state, and you’d be right. Average loan size on first liens was $378,000, and on subordinate liens a high $216,000.

In the secondary market by numbers, 89,000 loans were not sold off, or about 40 percent of production. For those that were sold, non-agency got the biggest share, at 23.5 percent. Of the agencies, Fannie Mae had the most share, 16 percent, while Freddie Mac had 11 percent of the sales and Ginnie Mae another ten percent.

Whites totally dominated New York mortgages in 2015, at 70 percent. Among minorities, Asians had the largest share of loans, at seven percent, while Blacks and Hispanics had five percent apiece.

Another interesting thing about New York is the large dollar amount for multifamily mortgages. The $14.3 billion in multifamily finance came to nearly 18 percent of the state total. On the numbers side the percentage was much lower, just 3,800 loans or about two percent of total. Doing the math, the multifamily mortgages averaged more than $3 million apiece, suggesting an active luxury market in New York City.

For borrower income, almost half of these mortgage went to upper income borrowers, with 23 percent going to a combined low- and moderate-income category, and 23 percent to middle-income borrowers.

On the gender rollup (applications with at least one male versus apps with females and no male), women got 21 percent and men 70 percent.

New York’s $80 billion in mortgages places it fourth among the states I have looked at so far. California had the most volume in 2015, with about $415 billion, followed by Texas at $122 billion and Florida at $100 billion. Next, I’ll look at either Pennsylvania or Illinois, which were in a dead heat for fifth in U.S. population for the 2010 census.

(Mark Fogarty is a journalist and analyst who has been covering the mortgage industry for more than 30 years.)