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Journal Article
New HMDA requirements expand reporting and public disclosure
Journal Article
The federal response to home mortgage distress: lessons from the Great Depression
This article examines the federal response to mortgage distress during the Great Depression: It documents features of the housing cycle of the 1920s and early 1930s, focusing on the growth of mortgage debt and the subsequent sharp increase in mortgage defaults and foreclosures during the Depression. It summarizes the major federal initiatives to reduce foreclosures and reform mortgage market practices, focusing especially on the activities of the Home Owners' Loan Corporation (HOLC), which acquired and refinanced one million delinquent mortgages between 1933 and 1936. Because the conditions ...
Journal Article
The mortgage market in 2010: highlights from the data reported under the Home Mortgage Disclosure Act
This article presents a number of key findings from a review of the data that mortgage lending institutions reported for 2010 under the Home Mortgage Disclosure Act (HMDA). The article documents home-purchase lending activity reflected in the HMDA data and discusses how the ending of the government's first-time homebuyer tax credit program during the year may have affected such lending. It also documents refinance lending activity and explores factors that may have muted such lending during 2010. In addition, the article closely examines patterns of lending across different racial or ethnic ...
Discussion Paper
Home Mortgage Disclosure Act (HMDA) home purchase data: summary for New England, 2003
This paper provides summary statistics for home purchase data collected under the Home Mortgage Disclosure Act in 2003. In addition to aggregate totals, patterns by income and race / ethnicity are also described. These analyses of HMDA data have been conducted to examine access to home purchase loans, while focusing on traditionally underserved populations ? low- and moderate- income (LMI) households and minorities. Overall lending activity has risen in recent years in New England, driven mainly by increasing volumes of applications from LMI and minority households. Although higher income ...
Journal Article
Amendment effective January 1, 1993
Journal Article
The mortgage market in 2011: highlights from the data reported under the Home Mortgage Disclosure Act
This article presents a number of key findings from a review of the data that mortgage lending institutions reported for 2011 under the Home Mortgage Disclosure Act (HMDA). The article documents home-lending activity reflected in the HMDA data and places the 2011 activity in historical context. It also examines changes in mortgage market concentration in recent years and in the credit scores of recent homebuyers. In addition, the article reviews patterns of lending across different racial or ethnic and income groups and across areas that differ in terms of housing market distress. Finally, it ...
Journal Article
The 2009 HMDA data: the mortgage market in a time of low interest rates and economic distress
The data that mortgage lending institutions reported for 2009 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 2009 HMDA data. In particular, it documents the wave of refinancing but discusses factors that may have muted such opportunities, explores patterns of lending across groups and areas with high rates of foreclosure, highlights the federal government’s greatly expanded role in the mortgage market, and examines how the interest rate ...