news.cuna.org/articles/118323-cfpb-issues-analysis-of-hmda-data-points
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CFPB issues analysis of HMDA data points

August 27, 2020

The Consumer Financial Protection Bureau (CFPB) Thursday issued a new Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data. This data article is the second in a series and follows the first article published in June of this year. 

HMDA data are the most comprehensive source of publicly available information on the U.S. mortgage market, and the only publicly-available and free source that provides nationwide application-level data on the demand and supply of mortgage credit. 

Data are used to assist in determining whether financial institutions are serving the housing needs of their local communities; facilitate public entities’ distribution of funds to local communities to attract private investment; and help identify possible discriminatory lending patterns.

Some of the findings in this year’s data points article include:

  • The top 25 open-end lenders accounted for about 573,000 open-end originations, or 53.6% of all open-end originations reported under HMDA.
  • Conventional jumbo loans have the highest mean and median credit scores among closed-end mortgages, with a mean score of 765 and a median of 773. FHA borrowers have the lowest mean and median scores among closed-end mortgages, with a mean score of 668 and a median of 663.
  • Among Black and Hispanic White homebuyers seeking conventional conforming loans, the median combined loan-to-value and debt-to-income ratios are higher than their Asian and non-Hispanic White counterparts.