Data Anecdotes: Home Mortgage Lending in 2014

This is an image of a home for sale.

The Qualified Mortgage (QM) Rule went into effect January 10, 2014, and appears to have impacted lending practices by parsing out some potential applicants who had reduced chances of approval under QM before they even submitted an application. This could explain that while all purchase applications were reduced in volume, the origination rates were higher. The origination rate for White borrowers was 86 percent in 2014, compared to 84 percent the previous year.

Commitment to improve lending practices needed in U.S. Bank acquisition of Charter One branches

Written by Dan Fair on March 6, 2014 - 11:10am

In a comment letter to the Office of the Comptroller of the Currency (OCC), Woodstock Institute encouraged the regulatory agency to approve the merger, with the condition that U.S. Bank make commitments to address public needs.

Home mortgage lending plummets in neighborhoods of color: National study exposes possible redlining and unequal access to credit

Written by Paying More for the American Dream Collaborative on April 28, 2011 - 12:00am

The report, Paying More for the American Dream V: The Persistence and Evolution of the Dual Mortgage Market, examines changes in conventional refinance lending between 2008 and 2009 in seven metropolitan areas: Boston, Charlotte, Chicago, Cleveland, Los Angeles, New York City and Rochester, NY. It also compares 2009 loan denial rates across neighborhoods.

Safety in Numbers: Creating a Fairer Housing Market

Written by Janis Bowdler, National Council of La Raza and Dory Rand, Woodstock Institute on September 10, 2010 - 7:23pm

The Home Mortgage and Disclosure Act (HMDA) requires mortgage lenders to provide detailed reports of their lending activities to regulators and the public.  HMDA data have long served as a powerful mechanism that identifies unfair lending practices, such as discriminating against minority families, women, and low-income borrowers.  HMDA is 35 years old, however, and Congress recognized it was time for a tune-up.

Learn how to hold mortgage lenders and bank regulators accountable by improving the Home Mortgage Disclosure Act

Regulators are holding a series of public hearings, including one in Chicago on September 16, on possible revisions to HMDA. HMDA data collection must be more comprehensive in order for regulators and the public to prove abusive discriminatory lending practices and hold lenders accountable.

Why update HMDA? Why now?

Subscribe to HMDA