Published November 1, 2007 | November 2007 issue
The Federal Financial Institutions Examination Council (FFIEC) has released 2006 mortgage loan data collected under the Home Mortgage Disclosure Act (HMDA). Enacted in 1975, HMDA requires mortgage lenders located in metropolitan statistical areas to collect and disclose information about their lending patterns. Researchers, financial regulators, policymakers and community groups use HMDA data to examine a variety of mortgage lending issues.
The 2006 data were gathered from mortgage loan transactions at 8,886 financial institutions, including banks, savings associations, credit unions and independent mortgage companies. Data records include the location of the mortgaged property; the nature and disposition of the loan (e.g., purchase vs. refinance, originated vs. denied); and demographic characteristics of borrowers, such as race, ethnicity, sex and income. In addition, the records include pricing information for loans on the high-priced end of the mortgage market.
A summary analysis of the 2006 data is available at www.federalreserve.gov/publications_papers/bulletin/default.htm. Several 2006 HMDA data reports are available free of charge at www.ffiec.gov/hmda. Additional reports can be ordered for a fee at www.ffiec.gov/hmda/orderform.htm.