2008 HMDA Data: The Mortgage Market During a Turbulent Year
DIANE Publishing, 2010 - 42 pages
The data that mortgage lending institutions reported for 2008 under the Home Mortgage Disclosure Act of 1975 (HMDA) reflect the ongoing difficulties in the housing and mortgage markets. This article presents a number of key findings from a review of the 2008 HMDA data. In particular, it documents a reduction in lending activity that was experienced by all groups of borrowers, highlights the Federal Housing Administration's greatly expanded role in the mortgage market, and examines how atypical changes in the interest rate environment affected the incidence of reported higher-priced lending in 2008 relative to earlier years. Chats and tables.
What people are saying - Write a review
We haven't found any reviews in the usual places.
2.75 percentage points 2007 Second half 2008 HMDA data 30-year ﬁxed-rate African American annual percentage rates applications APR spread borrower income census tract conventional loans credit risk credit scores credit unions decline ethnicity Fannie Mae Farm Service Agency FHA eligible FHA loans FICO scores ﬁgure ﬁrst-lien loans Freddie Mac higher priced higher-priced loans Hispanic white HMDA reporting HOEPA home loans home-purchase and reﬁnance home-purchase lending home-purchase loans incidence of higher-priced incidence of reported increase Independent mortgage company interest rate environment Junior lien lenders lending activity loan amount loan limits loans originated loans with LTVs LPS data Market share median Missing6 modiﬁed Non-Hispanic white non-owner-occupied Number of loans owner-occupied percent in 2008 piggyback loans PMMS spread reﬁnance lending reﬁnance loans reﬂect reported as higher reported higher-priced lending reported under HMDA share of home-purchase site-built homes site-built properties subprime subprime lending Total Treasury securities type of loan VA loans white borrowers