econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 17 October 2015

2014 Home Mortgage Disclosure Act Data Gets Released

from CoreLogic

On September 22, the Federal Financial Institutions Examination Council (FFIEC) released Home Mortgage Disclosure Act (HMDA) data for 2014. Newly released HMDA data provides a number of key mortgage origination metrics for the preceding year and is used by analysts and regulators to determine not only who received a mortgage, but also the terms of financing. The evaluation of this information guides supervisory activities over lenders, informs private-market assessments of lending volumes, helps inform grant funding for the Department of Housing and Urban Development and is used as a key factor in determining affordability goals for the Government Sponsored Enterprises, Fannie Mae and Freddie Mac.

One of the most prominent metrics released, originations, showed that they declined for all types and purposes from 8.7 million loans in 2013 to 6 million in 2014. Moderate increases in mortgage interest rates from 2013 to 2014 had a noticeable impact on refinance volumes, which declined by over half on a year over year basis, while home purchase lending rose by nearly 4 percent. Though there were declines overall in one- to four-family property refinances, the share made to black borrowers increased from 4.4 percent in 2013 to 5.2 percent in 2014, and the share made to Hispanic white borrowers rose a full percentage point over the same period.

Throughout the crisis years, the first-lien home mortgage for purchase transactions on one- to four-family, owner occupied properties was heavily reliant on government financing through the Veteran Loan Guaranty program, Federal Housing Administration and Rural Housing Services, peaking at 42 percent in 2009. The new figure indicates that the government-backed share in 2014 has also halved and was down an additional 3 percentage points from 24 percent in 2013 to 21 percent.

HMDA data is the product of what's known as Regulation C, which was transferred to the Consumer Financial Protection Bureau (CFPB) from the Federal Reserve Board and the industry continues to await the final rulemaking on modifications to the rule under the new supervisory agency. The CFPB has proposed to expand reporting requirements going forward as required under the Dodd-Frank Act. [1] On October 6, a colleague of ours will be further analyzing HMDA data alongside two researchers at the Urban Institute Data Talks.

[1] The CFPB has also exercised the statutory mandate to capture data that they deem necessary beyond the explicit fields within the Dodd-Frank Act.

©2015 CoreLogic, Inc. All rights reserved.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



You can also comment using Facebook directly using he comment block below.





Econintersect Contributors


search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
A New Era of Central Banking?
Is Free Trade Harming the Economy?
News Blog
Canada's Best Employers 2017
What We Read Today 22 February 2017
01 February 2017 FOMC Meeting Minutes: Little Seems to Have Changed Since the Previous Meeting
An Inside Look At Doomsday Bunker Homes With A Price Tag Of 2 Million
January 2017 Headline Existing Home Sales Surprisingly Good
China Moves To Put North Korea In Its Place
Trucking Data Improves In January 2017
February 2017 Chemical Activity Barometer Has Strong Gain
Infographic Of The Day: 2017's Top New Year's Resolutions
Early Headlines: Asia Stocks And Dollar Up, Oil And Gold Steady, Nat Gas Plunges, Fed's Williams Says Low Rates Will Last, Steep UK Brexit Bill, Greek Poverty, China Stocks Look Up? And More
Climate of the Southwest
Did the Romans Create both Christianity and Islam?
The Psychology Behind Trump's Awkward Handshake ... And How To Beat Him At His Own Game
Investing Blog
The Real 401k Plan Manager 20 February 2017
Investing.com Technical Summary 21 February 2017
Opinion Blog
The Blame Game
Fascism Defined And Described By Oswald Mosley
Precious Metals Blog
Deflation And Gold: A Contrarian View
Live Markets
22Feb2017 Market Close: Wall Street Passes On New Highs Except For The DOW, Interest Rate Hike May Come Sooner Rather Than Later
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved