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FFIEC Announces 2013 Data on Mortgage Lending
Tuesday, September 23, 2014 9:10 AM

Yesterday, the Federal Financial Institutions Examination Council announced the availability of data on mortgage lending transactions at 7,190 U.S. financial institutions covered by the Home Mortgage Disclosure Act. Covered institutions include banks, savings associations, credit unions, and mortgage companies. 

 The HMDA data is the most comprehensive publicly available information on mortgage market activity. Among other uses, the data helps the public determine how financial institutions are serving the housing needs of their local communities, and facilitates fair lending and compliance examinations. The FFIEC prepares and distributes this information on behalf of its member agencies.

 When examiners evaluate an institution's fair lending risk, they analyze HMDA data in conjunction with other information and risk factors, in accordance with Interagency Fair Lending Examination Procedures. Risk factors for pricing discrimination include the presence of broad pricing discretion and consumer complaints.

 The FFIEC website offers many summary observations for the 2013 mortgage lending data. For instance, in 2013, the number of reporting institutions declined about 3 percent to 7,190 from 2012, continuing a downward trend since 2006 when HMDA covered about 8,900 lenders. The decline reflects mergers, acquisitions, and the failure of some institutions. 

The 2013 data includes information on nearly 14 million home loan applications—of which, 8.7 million resulted in loan originations—and about 2.8 million loan purchases, for a total of nearly 16.8 million actions.

Please refer to the FFIEC website for additional observations.