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2010 HMDA data now available from FFIEC
WASHINGTON (9/23/11)--Data on the mortgage applications, originations, purchases, and denials that were filed by credit unions and other Home Mortgage Disclosure Act (HMDA) -covered financial institutions in 2010 are now available, the Federal Financial Institutions Examination Council reported on Thursday. The mortgage data covers transactions at 7,923 financial institutions. The data includes disclosure statements, aggregate data for metropolitan statistical areas, nationwide summary statistics of lending patterns, and Loan/Application Registers, the FFIEC said in a release. This data covers 12.9 million mortgage applications, 3.2 million mortgage purchases, and 165,000 denied preapproval requests. The data is further broken down by loan type, loan purpose, loan amount, property type, property location, applicant background, and census tract characteristics. The FFIEC noted that the data shows “a continued heavy reliance on loans backed by Federal Housing Agency insurance,” a trend “that began with the emergence of the recent mortgage market difficulties.” The FHA’s total share of first-lien loans fell slightly to 36% in 2010, below 2009’s total of 37%, but well above the 7% total reported in 2007. For more on the FFIEC report, use the resource link. The FFIEC is comprised of the leaders of the National Credit Union Administration (NCUA), the Federal Reserve Board, the office of the Comptroller of the Currency, the Office of Thrift Supervision, the Federal Deposit Insurance Corp. (FDIC), and the newest member, the Consumer Financial Protection Bureau. NCUA Chairman Debbie Matz succeeded FDIC Chairman Sheila Bair as head of the FFIEC on March 4. She is serving a two-year term.
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