WASHINGTON (9/23/15)--The total number of originated loans of all types and purposes declined by about 2.7 million, or 31%, from 2013 to 2014, according to data released Tuesday on 2014 mortgage lending transactions at 7,062 financial institutions covered by the Home Mortgage Disclosure Act (HMDA).
Refinance originations declined by 55%, whereas home purchase lending increased by about 4%. In addition to credit unions, the data cover activity at banks, savings associations and mortgage companies.
The HMDA data includes applications, originations, purchases and sales of loans, denials and other actions related to mortgage applications. This includes information on loan amount, loan type, loan purpose, property type, property location, applicant characteristics and pricing-related data.
Other highlights of the 2014 data include: