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F ederal R
eserve
Bank
OF DALLAS
ROBERT
D. M c T E E R , J R .
DALLAS, TEXAS
p re s id e n t
AN D CH IEF EX ECU TIV E O F F IC E R
AugUSt 22 199 6
75265-5906
Notice 96-78
TO:
The Chief Executive Officer of each
mem ber bank and others concerned in
the Eleventh Federal Reserve District
SUBJECT
Availability of 1995 Data on
Mortgage Loan Transactions
DETAILS
The Federal Financial Institutions Examination Council (FFIEC) has
announced the availability of data on 1995 mortgage lending activities at central
depositories in metropolitan areas throughout the nation. The reports include individual
disclosure statements and aggregate data for each m etropolitan area, and reflect the
1995 lending activity for more than 9,500 institutions that are covered by the H om e
Mortgage Disclosure Act (HMDA). The FFIEC makes H M D A data directly available to
the public in various formats, including paper, magnetic tape, PC diskette, and CDROM.
ATTACHMENT
A copy of the FFIEC ’s notice is attached.
MORE INFORMATION
For more information, please contact Jim Foster at (214) 922-5280. For
additional copies of this B ank’s notice, please contact the Public Affairs D epartm ent at
(214) 922-5254.
Sincerely yours,
For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal
Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston
Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.
This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
Federal Financial Institutions Examination Council
___________________________________________________________________________
2100 Pennsylvania Avenue, NW, Suite 200 • Washington, DC 20037 • (202)634-6526 • FAX (202)634-6556
Press Release
For Use at 4 PM EDT
July 30, 1996
July 30, 1996
The Federal Financial Institutions Examination Council (FFIEC) announced today
that reports of 1995 mortgage lending activity in metropolitan areas are now available for
public inspection at central depositories throughout the nation. The reports include individual
disclosure statements and aggregate data for each metropolitan area, and are available a
month earlier than they were last year and three months earlier than they were for 1993.
The reports reflect the 1995 lending activity for more than 9,500 institutions
covered by the Home Mortgage Disclosure Act (HMDA) that reported data to member
agencies of the FFIEC— Comptroller of the Currency, Federal Deposit Insurance
the
Corporation, Office of Thrift Supervision, National Credit Union Administration, and
Federal Reserve System-and to the Department of Housing and Urban Development.
The 1995 data include a total of 11.2 million reported loans and applications,
a decrease of about 8 percent from 1994 that primarily reflects a decline in refinancing
activity. The reports contain data about loan originations, loan purchases, and applications
that did not result in a loan; and they give information about three characteristics of
applicants or borrowers: race or national origin, sex, and annual income. For loans
Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration,
Office of the Comptroller of the Currency, Office of Thrift Supervision
- 2 relating to property located in metropolitan statistical areas (MSAs), the reports identify the
geographic location, usually by census tract.
The denial rates for conventional home purchase loans continue to vary among
racial and ethnic groups, as in previous years (see attached fact sheet). For conventional
home purchase loans, 41.4 percent of Native American applicants, 40.5 percent of Black
applicants, 29.5 percent of Hispanic applicants, 20.6 percent of White applicants, and 12.5
percent of Asian applicants were denied credit in 1995. These rates of loan denial are higher
than in 1994.
The 1995 data show an overall decrease in the number of conventional home
purchase loans from 1994. However, among racial or ethnic groups, the number of
conventional home purchase loans to Black, Hispanic, and Native American applicants went
up 9.7 percent, 4.1 percent, and 0.2 percent respectively, from 1994 to 1995, while lending
to Asian and White applicants fell over this period by 8.3 percent and 3.3 percent
respectively.
The FFIEC makes HMDA data available in various formats, including paper,
magnetic tape, PC diskette, and CD-ROM. Tables showing the nationwide aggregates and
key demographic information for MS As can be obtained in paper form. The raw data for
individual loans and applications are available on CD-ROM, magnetic tape, and PC diskette.
An order form, with descriptions of the various reports and formats available, is attached to
this release. The location of the central depository for an MSA can be obtained by calling
the FFIEC (Ms. Campbell, 202/634-6526).
Table 3 of the aggregate reports (and some individual disclosure statements)
reflects incomplete data regarding the type of purchaser for loans sold in the secondary
- 3 market, due to an inadvertent omission by a small number of lenders. The complete data are
available from the FFIEC on magnetic tape and in paper form. Because only Table 3 is
affected by the omission, and because the major users of these data obtain that information
on magnetic tape, the FFIEC has elected not to reprint the entire series for distribution to the
central depositories. Further information about Table 3 can be obtained through the HMDA
Assistance Line (202/452-2016).
The FFIEC also provides data on mortgage insurance applications. Data from the
nation’s eight private mortgage insurance (PMI) companies were compiled under the auspices
of the Mortgage Insurance Companies of America (MICA), and are available at individual
PMI companies, at the central depositories in each MSA, and from the FFIEC.
Attachments: Fact Sheet on 1995 (with tables)
HMDA Data Order Form
ft
ft
#
- 4 -
Findings from Analysis of Nationwide Summary Statistics for 1995 Data
Home Mortgage Disclosure Act Fact Sheet
(July 1996)
The following analyses of nationwide summary statistics are based on data
compiled by the Federal Financial Institutions Examination Council (FFIEC) for institutions
covered by the Home Mortgage Disclosure Act and Regulation C.*
The D ata
For 1995, the FFIEC prepared 36,611 disclosure statements for 9,539 lenders,
with a separate statement for each metropolitan area in which the lender has an office
(table 1). The data reflect the lending activity of 5,042 commercial banks, 1,065 savings
associations, 2,279 credit unions, and 1,153 mortgage companies (285 of these were affiliates
of depository institutions and the remainder were independent entities).
Applications Received and Loans Made
These lenders received 9.9 million applications for home purchase loans, home
improvement loans, and refinancings in 1995 (compared with 10.7 million in 1994), and
purchased 1.3 million loans (compared with 1.5 million in 1994). The total volume of home
loan applications and purchases (11.2 million) decreased 8 percent from 1994, largely due to
a 30 percent decline in the number of applications for refinancing. The fall in refinancing
activity is likely due to the effects of higher interest rates on this particularly rate-sensitive
segment of the loan market.
Changes in Lending Volume by Race and Income
The data suggest that the affordable home loan programs that have been initiated
in recent years by mortgage originators, Fannie Mae, and Freddie Mac — to benefit lowincome, moderate-income, and minority households and neighborhoods — may be having an
impact (table 2). Overall, conventional home purchase lending was down in 1995 compared
with 1994. Lending to Whites declined by 3.3 percent (a decrease of 76,093 loans) and
lending to Asians declined by 8.3 percent (a decrease of 7,748 loans). However, lending
increased by 9.7 percent for Blacks (an increase of 12,238 loans), by 4.1 percent for
*
The FFIEC also has compiled insurance data submitted by the nation’s eight private
mortgage insurance (PMI) companies under the auspices of the Mortgage Insurance
Companies of America. The data relate to application decisions made by the PMI companies
during 1995. The disclosure statements are available from the individual companies. In late
July, the data will be available at the MSA central depositories and from the FFIEC in the
same formats as the HMDA data.
5
Hispanics (5,287 loans), and 0.2 percent for Native Americans (21 loans). Among
neighborhoods grouped by race or national origin, only those neighborhoods at least 80
percent minority experienced an increase in the number of conventional home purchase
loans. Among neighborhoods grouped by income category, only the low- or moderateincome neighborhoods experienced an increase in the number of conventional home purchase
loans.
Approval/Denial Rates
For conventional home purchase loans, the denial rates continue to vary among
applicants by income and racial or ethnic characteristics (table 3). For example, loan
applications filed by Native Americans, Blacks, and Hispanics are more likely to be turned
down than those submitted by Whites or Asians. In 1995, 41.4 percent of Native American
applicants, 40.5 percent of Black applicants, 29.5 percent of Hispanic applicants, 20.6
percent of White applicants, and 12.5 percent of Asian applicants were denied conventional
home purchase loans. The denial rates for all racial and ethnic groups were higher in 1995
than in 1994 (the comparable denial rates in 1994 were 31.6 percent for Native Americans,
33.4 percent for Blacks, 24.6 percent for Hispanics, 16.4 percent for Whites, and 12.0
percent for Asians).
Differences in the distribution of applicants by income account for some of the
differences in loan disposition rates among racial or ethnic groups (table 4). Other factors
are more important, however, since Whites and Asian applicants, in all income groups, had
lower rates of denial than Native American, Black, or Hispanic applicants. The extent to
which racial discrimination may account for these differences is not known. The HMDA
data provide some information on the reasons for denial as cited by lenders. Poor credit or
no credit history was the most frequently cited reason for denial of conventional home
purchase loan applications, with this factor cited particularly often for Blacks and relatively
rarely for Asians.
Loan Programs
Lending institutions tend to specialize in different types of home loans (table 5).
For example, among home purchase loan originations, mortgage companies tend to do most
of the government-backed lending. Commercial banks, on the other hand, do most of the
home improvement lending.
Among applicants, some are more likely than others to apply for certain types of
home loans (table 6). For example, low- or moderate- and middle-income households are
more likely to apply for government-sponsored home loans (26.1, 29.1, and 25.2 percent,
respectively) than are high-income households (12.3 percent). In addition, Blacks and
Hispanics (31.0 percent and 20.3 percent, respectively) are more likely to apply for such
loans than are Asians, Native Americans, or Whites (11.1 percent, 12.9 percent, and 15.7
percent, respectively).
Attachments: Tables 1 through 6
- 6 -
1. Residential lending activity reported by financial institutions covered by HMDA,
1981-95
Year
Number of loans1
(millions)
Number of reporting
institutions
Number of MSA
disclosure reports
1981
1.28
8,094
10,945
1982
1.13
8,258
11,357
1983
1.71
8,050
10,970
1984
1.86
8,491
11,799
1985
1.98
8,072
12,567
1986
2.83
8,898
12,329
1987
3.42
9,431
13,033
1988
3.39
9,319
13,919
1989
3.13
9,203
14,154
19902
6.59
9,332
24,041
1991
7.89
9,358
25,934
1992
12.01
9,073
28,782
1993
15.38
9,650
35,0693
1994
12.20
9,858
37,7423
1995
11.23
9,539
36,611
1. Before 1990, includes only loans originated by covered institutions; beginning 1990 (first year under revised
reporting system), includes loans originated and purchased, applications approved but not accepted by the
applicant, applications denied or withdrawn, and applications closed because information was incomplete.
2. Revised from preliminary figures published in Glenn B. Canner and Dolores S. Smith, "Home Mortgage
Disclosure Act: Expanded Data on Residential Lending," Federal Reserve Bulletin, vol. 77 (November 1991), p.
861, to reflect corrections and the reporting o f additional data.
3. Revised.
SOURCE.
FFIEC, Home Mortgage Disclosure Act data.
- 7 2. Conventional home purchase loans by race or ethnic group and income of borrowers or census tracts, 1990-95
Number of loans and percentage change
Number o f loans
Borrower and
census tract
characteristic
Year
1990
1991
Percentage change
Period
1992
1993'
1994’
1 99 51
Memo:
Percentage
change
1990-91
1991-92
1 9 9 2 -9 3 1
1993-94'
1994-95'
1993-95
Borrower
Race or ethnic
group
American Indian
7,143
6,395
7,280
8,638
10,691
10,712
-10.5
13.8
18.7
23.8
0.2
24.0
Asian
70,011
64 ,7 8 9
6 8,41 6
78,671
93,319
85,571
-7.5
5.6
15.0
18.6
-8.3
8.8
Black
4 7,04 5
4 4 ,8 9 7
56,516
81,322
125,796
138,034
-4.6
25.9
43.9
54.7
9.7
69.7
Hispanic
6 9,5 48
62 ,2 3 7
66,995
91,345
129,695
134,982
-10.5
7.6
36.3
42.0
4.1
4 7.8
1,296,471
1,312,694
1,582,030
1,971,153
2 ,28 1 ,4 5 0
2 ,2 05 ,35 7
1.3
20.5
24.6
15.7
-3.3
11.9
Less than 80
181,505
2 1 9 ,2 6 9
2 7 8 ,3 9 0
4 0 7 ,0 5 9
5 16 ,82 4
4 9 4 ,0 0 7
20.8
27.0
46.2
27.0
-4.4
21.4
8 0-9 9
135,259
149,544
190,282
2 48 ,4 0 2
29 5 ,7 3 4
2 8 2 ,9 2 8
10.6
27.2
30.5
19.1
-4.3
13.9
10 0-11 9 3
146,535
160,961
196,311
2 46 ,2 94
2 85 ,0 4 4
26 8,6 8 4
9.8
22 .0
25.5
15.7
-5.7
9.1
120 or m ore1
7 98 ,9 28
74 3 ,3 6 6
8 19 ,5 76
9 50 ,5 9 7
1,069,305
1,047,465
-7.0
10.3
16.0
12.5
-2.0
10.2
White
Income (percentage
o f MSA median\)2
8 Table 2 (continued)
Number o f loans
Percentage change
Year
Period
1990-91
1991-92
1992-93'
1993-94'
1994-95'
Memo:
Percentage
change
1993-95
1,153,291
4.7
1.9
26.0
11.1
-3.7
7.0
4 6 0 ,1 1 0
43 7 ,3 5 4
-1.9
48.1
24.4
19.1
-4.9
13.2
27 2,6 9 0
3 37 ,29 2
322,835
-7.9
58.3
21.0
23.7
-4.3
18.4
6 8,14 4
81,628
101,817
98,145
-17.7
61.5
19.8
24.7
-3.6
20.2
23 ,8 3 8
36,937
43,263
56,3 29
56,545
-22.1
55.0
17.1
30.2
0.4
30.7
133,554
116,545
152,137
185,014
2 2 4 ,4 3 4
2 32 ,6 5 9
-12.7
30.5
21.6
21.3
3.7
25.8
Middle3
70 3,1 25
6 95 ,4 7 2
7 25 ,0 69
897,645
1,053,155
1,010,218
-1.1
4.3
23.8
17.3
-4.1
12.5
Upper1
4 1 5 ,4 4 4
445,501
6 18 ,9 3 2
7 83,695
87 7,5 27
8 27 ,85 2
7.2
38.9
26.6
12.0
-5.7
5.6
Borrower and
census tract
characteristic
1990
1991
1992
Less than 10
801,861
8 39 ,4 5 0
8 55,219
1,077,879
1,197,432
10-19
2 13 ,8 1 8
2 0 9 ,6 9 7
310,563
3 86,443
2 0 -4 9
154,575
142,344
22 5,2 75
50 -7 9
51 ,28 0
4 2 ,1 8 9
8 0 -1 0 0
30 ,5 8 9
Low or moderate
1993'
1994'
1995'
Census Tract
Racial minorities
(percentage o f
MSA population)
Income o f census
tract
1. Includes loans reported by newly covered independent m ortgage companies.
2.
M SA m edian is m edian family incom e o f the metropolitan statistical area in which the property related to the loan is located.
3.
T o m ore closely mirror the categorical definitions used in the Com m unity Reinvestm ent A ct regulation, a category definition change shifts a very small n u m b er o f loans from
the range 100-119 to the range 120 or more and from middle income to upp er incom e census tracts beginning in 1995.
SO U RCE .
FFIEC. Hom e Mortgage Disclosure Act, 1990-95.
- 9 -
3. Disposition of conventional home purchase loan applications, by characteristics of applicant, 1995
Percentage distribution, by number of applications
Type of disposition
Applicant characteristic
Approved
Denied
Withdrawn
File closed
Total1
Race or ethnic group
American Indian/
Alaskan native
50.7
41.4
6.8
1.1
100
Asian/Pacific Islander
75.9
12.5
9.7
1.9
100
Black
51.1
40.5
6.7
1.7
100
Hispanic
60.2
29.5
8.3
2.0
100
White
71.8
20.6
6.5
1.1
100
Other
59.4
29.6
8.9
2.0
100
Joint (white/minority)
68.5
22.4
7.7
1.3
100
Less than 80
63.1
29.9
5.9
1.1
100
80-99
74.0
18.0
6.8
1.2
100
100-119
77.7
13.9
7.2
1.2
100
120 or more
82.2
8.7
7.9
1.2
100
Income (percentage o f MSA
median)2
1. In this and subsequent tables components may not sum to totals because o f rounding
2. MSA median is median family income o f the metropolitan statistical area in which the property related to the loan is located.
SOURCE.
FFIEC, Home Mortgage Disclosure Act data.
10 -
4. Disposition of conventional home purchase loan applications, by income and race or ethnic
group of applicant, 1995
Percentage distribution, by number of applications
Applicant income and
race or ethnic group1
Type of disposition
File closed
Total
5.5
1.1
100
16.5
8.2
1.7
100
54.2
37.3
6.6
1.8
100
Hispanic
59.1
32.4
6.8
1.8
100
White
65.5
28.4
5.2
0.9
100
Other
54.3
37.4
6.9
1.4
100
Joint (white/minority)
57.4
35.6
6.0
1.0
100
80-99
American Indian/
Alaskan native
64.8
26.4
7.7
1.1
100
Asian/Pacific Islander
78.2
11.2
9.0
1.6
100
Black
61.8
27.9
8.4
1.9
100
Hispanic
65.7
24.6
7.9
1.8
100
White
76.5
16.4
6.1
1.0
100
Other
67.3
22.7
8.3
1.6
100
Joint (white/minority)
68.0
24.1
6.7
1.1
100
Approved
Denied
Less than 80
American Indian/
Alaskan native
52.6
40.8
Asian/Pacific Islander
73.6
Black
Withdrawn
11
Table 4 (continued)
Type of disposition
Applicant income and
race or ethnic group
Approved
Denied
Withdrawn
File closed
Total
100-119
American Indian/
Alaskan native
69.2
19.6
9.6
1.6
100
Asian/Pacific Islander
78.7
10.4
9.2
1.6
100
Black
64.8
23.9
9.0
2.2
100
Hispanic
67.2
22.4
8.5
1.9
100
White
80.3
12.3
6.4
1.0
100
Other
69.8
19.2
9.1
2.0
100
Joint (white/minority)
74.2
17.5
7.1
1.2
100
120 or more
American Indian/
Alaskan native
74.7
13.4
10.4
1.5
100
Asian/Pacific Islander
79.0
9.5
9.8
1.7
100
Black
70.7
17.5
9.6
2.1
100
Hispanic
72.2
15.6
10.1
2.2
100
White
84.2
7.6
7.3
1.0
100
Other
73.7
13.6
10.5
2.2
100
Joint (white/minority)
79.9
10.7
8.3
1.2
100
I. Applicant income shown as percentage o f the median family income o f the metropolitan statistical area in which the
property related to the loan is located.
SOURCE. FFIEC, Home Mortgage Disclosure Act data.
12 -
5. Home lending, by type and purpose of loan and by type of lender, 1995
Percentage distribution, by number of loans
Type of Lender
Mortgage
company1
Total
1.5
57.5
100
9.7
0.2
81.5
100
9.6
9.4
1.7
79.2
100
FmHA-insured
17.1
13.5
0.2
69.2
100
Conventional
25.2
22.0
1.8
51.5
100
Home refinancing
30.5
17.2
4.1
48.1
100
Home improvement
68.9
7.5
11.8
11.8
100
Multifamily2
51.5
42.3
0.5
5.8
100
Total
31.8
16.9
3.9
47.4
100
Purpose of loan
Commercial
bank
Savings
association
Home purchase
21.7
19.3
FHA-insured
8.7
VA-guaranteed
Credit
union
1. Includes independent mortgage companies and mortgage companies affiliated with a commercial bank or
savings association.
2. Includes dwellings for five or more families.
SOURCE.
FFIEC, Home Mortgage Disclosure Act data.
13
6. Applications for one- to four-family home loans reported under HM DA, grouped by purpose o f loan and distributed by characteristic o f applicant
and census tract. 1995
Home purchase
Home refinancing
Government-backed'
Characteristic
Number
Percent
Home improvement
Conventional
Memo:
percentage of
characteristic's
home purchase
loans
Number
Percent
Memo:
percentage of
characteristic’s
home purchase
loans
Number
Percent
Number
Percent
APPLICANT
Race or ethnic group
American Indian/
Alaskan native
4,051
0.4
12.9
27,351
0.6
87.1
10,578
0.5
9,617
0.7
15,172
1.6
11.1
121,089
2.8
88.9
65,964
3.0
20,414
1.4
Black
146,717
15.4
31.0
325.849
7.5
69.0
189,379
8.6
171,075
12.1
Hispanic
106.687
11.2
29.3
257,826
6.0
70.7
128,399
5.8
115,237
8.2
White
643,050
67.4
15.7
3,462,366
80.0
84.3
1,740,552
78.9
1,054,827
74.7
Other
5.933
0.6
12.6
41,107
0.9
87.4
27,321
1.2
14,633
1.0
32.652
3.4
25.7
94,386
2.2
74.3
44,033
2.0
25,527
1.8
954,262
100.0
18.1
4,329,974
100.0
81.9
2,206,226
100.0
1,411,330
100.0
Asian/Pacific Islander
Joint (white/minority)
Total
14 -
Table 6 (continued)
Home purchase
Home refinancing
Government- backed1
Characteristic
Number
Percent
Home improvement
Conventional
Memo:
percentage of
characteristic’s
home purchase
loans
Number
Percent
Memo:
percentage of
characteristic’s
home purchase
loans
Number
Percent
Number
Percent
Income (percentage o f MSA median)!
Less than 80
314,092
39.1
26.1
890,953
29.3
73.9
541,331
27.8
482,376
35.7
80-99
172,951
21.5
29.1
420,408
13.8
70.9
272,217
14.0
196,614
14.6
100-119
126,099
15.7
25.2
374,235
12.3
74.8
251,248
12.9
174,783
12.9
120 or more
189,610
23.6
12.3
1,357,489
44.6
87.7
885,912
45.4
496,706
36.8
Total
802,752
100.0
20.9
3,043,085
100.0
79.1
1,950,708
100.0
1,350,479
100.0
Less than 10
295,903
37.1
15.9
1,562,872
52.1
84.1
975,894
47.4
617,724
46.9
10-19
186,689
23.4
22.5
641,595
21.4
77.4
396,944
19.3
233,098
17.7
20-49
206,070
25.8
28.4
518,268
17.3
71.6
366,150
17.8
228,549
17.3
50-79
64,117
8.0
27.5
168,716
5.6
72.5
155,564
7.6
103,062
7.8
80-100
44,770
5.6
29.3
108,084
3.6
70.7
163,603
7.9
135,092
10.3
797,549
100.0
21.0
2,999,535
100.0
79.0
2,058,155
100.0
1,317,525
100.0
CENSUS TRACT
Racial/ethnic composition (minorities
as percentage o f population)
Total
- 15 Table 6 (continued)
Home purchase
Home refinancing
Government- backed1
Characteristic
Number
Percent
Home improvement
Conventional
Memo:
percentage of
characteristic’s
home purchase
loans
Number
Percent
Memo:
percentage of
characteristic’s
home purchase
loans
Number
Percent
Number
Percent
Income'
I.ow or moderate
144,546
17.9
26.1
409,030
13.6
73.9
358,685
17.4
296,817
22.1
Middle
463,961
57.5
23.6
1,500,430
50.0
76.4
1,033,298
50.0
694,042
51.8
Upper
197,731
24.5
15.3
1,092,905
36.4
84.7
674,890
32.7
349,440
26.1
Total
806,238
100.0
21.2
3,002.365
100.0
78.8
2,066,873
100.0
1,340,299
100.0
Central city
379.043
46.3
24.2
1,186,518
38.6
75.8
833,506
39.5
606,417
44.2
Non-central city
439.447
53.7
18.9
1,886,593
61.4
81.1
1,276,772
60.5
765,234
55.8
Total
818.490
100.0
21.0
3,073,111
100.0
79.0
2,110,278
100.0
1,371,651
100.0
Location'
N O TE. Lenders reported 9,955,171 applications for hom e loans in 1995.
distributed by characteristic varies by characteristic.
N ot all characteristics were reported for all applications; thus, the nu m b er o f applications being
1.
L oans backed by the Federal H ousing Administration, the D epartm ent o f Veteran Affairs, or the Farm ers H om e Administration.
2.
M SA median is m edian family income o f the metropolitan statistical area (M SA) in w hich the property related to the loan is located.
3. C en su s tracts are categorized by the median family income for the tract relative to the m edian family incom e for the metropolitan statistical area (M SA) in which the tract
is located.
C ategories are defined as follows:
Low or m oderate, median family income for census tract less than 80 p e r c e n t o f m edian family income for MSA; Middle
incom e, median family incom e 80 percent to 119 percent o f M SA median; Upper income, m edian family income more than 120 percent or more o f M S A median.
4.
For ccnsus tracts located in MSAs.
SO U RCE .
FFIEC, Hom e M ortgage Disclosure Act.
16
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
(PAYMENT INFORMATION)
FFIEC AND FRB USE ONLY
FFIEC Control Number:
Order Form Received at FRB:
/
________
/
Order Form Completed by FRB:
Order Shipped by FRB: __/__/__
/
/
Credit Authorization Number: _________
N A M E /F IR M :____________________________ /_____________________________ Check if Non-Profit Organization □
ADDRESS:
_______
T E L E P H O N E :_____ -_____ -________
Please make checks payable to: FFIEC
Mail to:
Board of Governors o f the Federal Reserve System
20th & C Street, N.W.
Attn: Management & Administrative Services, Stop 163
Washington, D.C. 20551
Phone: 202-452-2016
Fax: 202-452-6497
•Advance payment required via check, money order, Visa or Master Charge.
•O N LY credit payments (VISA or Master Charge) or no charge items may be sent by fax
•PA Y M EN T INFORM ATION AND PAGE(S) OF THE HMDA DATA ORDER FORM THAT HAVE THE
ITEM(S) THAT YOU ARE ORDERING M UST ACCOMPANY PAYM ENT. Omittance of either payment
or Order Form will delay your order.
□
Please ship the completed order at my expense using my overnight carrier listed below
{Otherwise, orders will be shipped via United States Postal Service at no charge}
Carrier Name
Account Number / / / / /
/ / /
METHOD OF PAYMENT (check appropriate box):
□
□
□
□
Check
Money Order
Visa
MasterCard
CREDIT PAYMENTS (Signature is required when paying by credit card):
Card Number
/ / / / / / / / / / / / / / / / /
Signature
Expiration Date(mmyy)
I
I
Date
I
I
I
/__/__/__/
17
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
(HARDCOPY ITEMS)
FFIEC AND FRB USE ONLY
FFIEC Control Number:
SELECTION LIST
An additional charge applies per year/MSA/institution (see attached item
descriptions)
UNIT
COST
TOTAL
$ 50.00
$
$ 50.00
$
$ 50.00
QTY
$
Disclosure Statement (Item #001)
Data Type (see page 9): FFIEC
, MICA
Indicate HMDA year(s):
,
(Specify Reporter ID selections in ascending order; use back of form if
additional space is required.)
Indicate Reporter Name:
Reporter/Agency ID and
Zip Code:
Reporter
Name:
/ / / / / / / / / / / - / /
Zip Code: / / / / / /
Reporter
Name:
/ / / / / / / / / / / - / /
Zip Code: / / / / / /
Aggregation Report (Item #002)
Data Type (see page 9): FFIEC
Indicate HMDA year(s):
For MSAs:
,
, MICA
,
,
,
,
,
Note: Cost o f hardcopy report by MSA is $50 per year/MSA.
Census Tract Listing (Item #003)
Indicate HMDA year(s):
,
Note: 1990 revised MSA definitions used beginning with 1994 HMDA data;
1990 census tracts used beginning with 1992 HMDA data.
1996 census data includes all census tracts and BNAs in the nation. Years
prior to 1996 include only census tracts within MSAs.
18 -
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
(HARDCOPY ITEMS)
FFIEC AND FRB USE ONLY
FFIEC Control Number:
SELECTION LIST
An additional charge applies per year/M SA/institution (see attached item
descriptions)
QTY
UNIT
COST
TOTAL
MSA Median Family Income Listing (Item #004)
NC
Indicate HMDA year(s):
,
Note: 1996 and years thereafter include non-metro area median family incomes
by state.
Counties Located in Non-Metro Areas Listing (Item #004a)
NC
Note: For the 1996 HMDA reporting year only. Includes county FIPS codes.
National Aggregate Reports (Item #005)
$ 50.00
Data Type (see page 9): FFIEC
Indicate HMDA year(s):
$ 50.00
$
$ 45.00
or
$ 75.00
$
,
MSA by MSA Report on the Disposition o f Applications
by Race and Income o f Each Applicant (Item #006)
Data Type (see page 9): FFIEC
Indicate HMDA year(s):
$
, MICA
, MICA
,
Reporter Directory (Item #007)
Indicate HMDA year(s):
,
Indicate MSA Name and Number:
MSA Name:
MSA Number:
/ / / / /
MSA Name:
MSA Number:
/ / / / /
MSA Name:
MSA Number:
/ / / / /
Note: For non-profit organizations, the charge for the directory is $45.00 per
MSA; the charge is $75.00 per MSA for all others.
19
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
(HARDCOPY ITEMS)
FFIEC AND FRB USE ONLY
FFIEC Control Number:
SELECTION LIST
An additional charge applies per year/M SA/institution (see attached item
descriptions)
Three-report Package (Item #008):
• Report on Disposition of Loan Applications by Income and Race
• Report on Distribution of Loan Applications
• Census Tract Summary
Indicate HMDA year(s):
Indicate Reporter and MSA:
Reporter
Name:
Reporter/Agency ID and
MSA Number (if known):
/ / / / / / / / / / / - / /
City:
MSA Name:
MSA Number: / / / / /
MSA Name:
MSA Number: / / / / /
Reporter
Name:
/ / / / / / / / / / / - / /
City:
MSA Name:
MSA Number: / / / / /
MSA Name:
MSA Number: / / / / /
Reporter
Name:
/ / / / / / / / / / / - / /
City:
MSA Name:
MSA Number: / / / / /
MSA Name:
MSA Number: I I I I /
Note: For non-profit organizations, the charge for this package is $45.00 per
institution/MSA; the charge is $75.00 per institution/MSA for all others.
QTY
UNIT
COST
$ 45.00
or
$ 75.00
TOTAL
$
- 20 -
GRAND
TOTAL
$
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
(ELECTRONIC ITEMS)
FFIEC AND FRB USE ONLY
FFIEC Control Number:
SELECTION LIST
An additional charge applies per year/M SA/institution (see attached item
descriptions)
Data Type (see page 9): FFIEC
QTY
UNIT
COST
TOTAL
, MICA
$
Aggregation Report (Item #101)
Indicate HMDA year(s)
,
,
LAR & TS Raw Data (Item #102)
Indicate HMDA year(s)
,
$500.00
(reel or cartridge)
,
$500.00
(reel or cartridge)
OR $50.00
(CD-ROM only)
$150.00
(reel or cartridge)
Expected Reporter Panel (Item #103)
Indicate HMDA year(s)
,
,
Select:
_
Reel (6250 bpi) in _
EBCDIC OR _
ASCII
__Cartridge
OR
OR
_
CD-ROM (LAR & TS Raw Data Only)*
*Not available for years prior to 1992
Charge
determined by #
o f diskettes per
MSA
PC Diskettes by MSA (Item #201)
Data Type (see page 9): FFIEC
Indicate year(s)
MSA(s):
, MICA
,
.
.
.
.
.
.
Note: Data will be placed only on 3-1/2 high density PC diskettes. The number
of diskettes generated pe r MSA will determine the charge. The
breakdown on charges is:
1-4 diskettes-$25.00
5-9 diskettes—
$75.00
10 or more diskettes-$150.00
Call 202-452-2016 to determine the amount to send with your order form.
Follow the instructions on the Fax Back System to retrieve the HMDA Fax
Request Catalog to obtain the appropriate document number.
$
- 21
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
______________________________ (ELECTRONIC ITEMS)______________________________
FFIEC AND FRB USE ONLY
FFIEC Control Number:
SELECTION LIST
An additional charge applies per year/M SA/institution (see attached item
descriptions)
Census Data (Item #104)
QTY
UNIT
COST
S250.00
Indicate HMDA year(s):
Select:
_
OR
Reel (6250 bpi) in _
EBCDIC OR _
ASCII
_ Cartridge
Note: 1990 MSA redefinitions used beginning with 1994 HMDA data;
1990 census tracts used beginning with 1992 data;
1980 census tracts used with 1990 & 1991 data.
1996 census data combines HMDA and CRA information, therefore, file
specifications are significantly different than prior years. The 1996 tape
and years thereafter include census tracts and BNAs inside and outside of
MSAs. Years prior to 1996 include only census tracts within MSAs.
$ 50.00
C ensus-G eography Only (Item #105)(see page 9)
Indicate HMDA year(s): ______ , ______
Select:
_
Reel (6250 bpi) in _
OR
ASCII
Cartridge
OR
EBCDIC OR _
Diskette
Note: 1995 data only available on diskette.
1996 data available on reel, cartridge, or diskette.
M SA Aggregate Reports and Disclosure Statements on Microfiche (Item #301)
$ 20.00
Data Type (see page 9): FFIEC___ , M IC A _
_
Indicate year(s): ______ , ______
MSA(s):
_____, _, _______, ______ , ______
Note: Cost o f microfiche is $20.00 per Year/MSA
TOTAL
- 22
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
(ELECTRONIC ITEMS)
FFIEC AND FRB USE ONLY
FFIEC Control Number:
SELECTION LIST
An additional charge applies per year/M SA/institution (see attached-item
descriptions)
QTY
$150.00
MSA Aggregate Reports and Disclosure Statements on CD-ROM (Item #302)
Data Type (see page 9): FFIEC
Indicate year(s):
UNIT
COST
TOTAL
$
, MICA
,
Note: Only available for 1992 and 1994 HMDA reporting
years.
GRAND TOTAL
$
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
(PREPARATION ITEMS)
FFIEC AND FRB USE ONLY
FFIEC Control Number:
Indicate year(s):
*
$
$
#010)
,
This Guide was developed to assist those who prepare the HMDA report.
See the "Item Descriptions" for more information.
HMDA Questions and Answers (Item
*
TOTAL
$ 5.00
A Guide to HMDA Reporting: Getting it Right (Item
UNIT
COST
$ 5.00
QTY
SELECTION LIST
#011)
This Video was prepared by the Federal Reserve Bank of Atlanta. It is a
twenty minute video that answers the most common questions that pertain to
HMDA reporting.
GRAND TOTAL
$
23
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
HMDA/CRA DATA ORDER FORM
ITEM DESCRIPTIONS
Unless otherwise specified, reports using HMDA data are available beginning with
1990. HMDA data generally become available by August of the year following the
reporting year, and data through calendar year 1995 are now available. Reports using
census data and the HUD Median Family Income Listings become available earlier in
the year. Please refer to the HMDA Assistance Line at (202) 452-2016 or email at
HMDAHELP@FRB.GOV for the latest release of these reports.
There is a separate additional charge for each year, MSA, and/or institution selected.
Charges for duplicate requests apply.
The FFIEC has entered into an agreement with the Mortgage Insurance Companies o f America
(MICA) to compile data on mortgage insurance applications for the nation’s eight private
mortgage insurance companies. These data are available beginning with data for the fourth
quarter of calendar year 1993 and for calendar years 1994 through 1995. The FFIEC makes
the data available in formats similar to those for the HMDA data. The following items are
available for MICA data: Disclosure Statements (Item #001), Aggregation Reports (Item
#002), National Aggregate Report (Item #005), and LAR & TS Raw Data (Item #102). When
ordering these products, be sure to specify that the order is for MICA data.
Aggregation R eport: The Aggregation Reports of MSAs (340 for 1990; 341 for 1991, '1992
and 1993; and 329 for 1994), sorted by MSA, distributed as either hardcopy or on tape.
Printed reports of MSAs range from 30 to 604 pages each, amd average about 60 pages.
This report aggregates the mortgage and home improvement lending information for those
institutions within an MSA. It is in the same format as the disclosure statements; however,
individual institutions can not be identified from these reports. Tape distribution is used in
lieu of hardcopy as a convenience to those sites that can print the tape locally. This is a
print image tape; therefore, the data can not be manipulated.
For hardcopy distribution, enter the MSA number for each MSA desired on the report in
the space provided on the form. If additional space is required, use the back of the form.
The charge for hardcopy distribution is $50.00 for each MSA requested. (Item #002)
For tape distribution, all MSAs are included on the tape. Also, a listing is provided that
shows the relative position and number of pages for each MSA on the tape. Data are in
EBCDIC and formatted as follows: record length = 166; block size = 24,900; and record
format = fixed block. Printing these records requires a printer featured for 166 character
- 24 -
output. The charge for tapes is $500.00. (Item #101) The hardcopy Aggregate item is
also available for MICA data. These data are not available prior to 1993 (see above).
Census (Geography Only): This is the nationwide census data that can be used to verify
HMDA/CRA property location information. For 1995, the data contain valid
MS A/State/County/Tract for HMDA reporting. For 1996, the data contain the valid
MSA/State/County/Tract-BNA combinations for HMDA/CRA reporting. These
combinations include those State/County/Tracts-BNAs outside of MSAs that will be verified
for correctness. The data do not include demographic data. Census data are distributed on
diskette (for 1995 and 1996) and magnetic tape (cartridges or reels, for 1996 only) at a cost
of $50. Record formats and file descriptions are included with each order. (Item #105)
Census Inform ation: This are the nationwide census data used as input to HMDA and CRA
processing. Beginning with 1996, this information combines HMDA and CRA data elements
into one source. Data are distributed as in hardcopy (paper) form or on tape. The hardcopy
Census Tract Listing contains valid census listings and does not have demographic
information. The listing for 1996 and years thereafter includes all census tracts and BN As
inside and outside of MSA boundaries. Data on the tape do contain demographic information
for each tract. The listing for 1996 and years thereafter includes all tracts and MSAs inside
and outside of MSA boundaries. Tapes are available on either reels or cartridges; file
descriptions are included with each order.
The charge for hardcopy distribution is $50.00 (Item #003).
The charge for tape distribution is $250.00 (Item #104).
The 1980 census tracts were used in processing 1990 and 1991 HMDA data; 1990 census
tracts were used for processing data for 1992 and subsequent years; 1990 MSA redefinitions
were used beginning with 1994 HMDA data. The census data distributed will be consistent
with the HMDA year specified. For example, if HMDA year 1991 is selected, 1980 census
tract data with 1991 MSA definitions will be issued.
Counties Located in Non-Metro Areas Listing: The listing shows all county codes in non
metro areas by state. The listing is only available for the 1996 HMDA reporting year and is
distributed free of charge. (Item #004a)
Disclosure Statem ent: The Disclosure Statement summarizes mortgage and home
improvement lending information from data that are prepared yearly by individual
institutions. The Disclosure Statement is distributed in hardcopy at a cost of $50.00 for each
institution requested. (Item #001)
The Disclosure Statements are also available for MICA data. These data are not available
prior to 1993.
Expected Reporter Panel: The Expected Reporter Panel is the universe of all institutions
who were expected to report under HMDA. The panel includes the name of the institution,
the reporter ID and agency code, and the MSA numbers of the metropolitan areas for which
they were expected to report. The panel is captured from the database at the same time that
the final disclosure and aggregate reports are prepared for the Central Depositories. The
- 25
Expected Reporter Panel is distributed in reel or cartridge only at a cost of $150.00. A
format description is included with each order. (Item #103)
The Expected Reporter Panel is also available for MICA data. These data are not available
prior to 1994.
Loan Application Records (LAR) and Transm ittal Sheet (TS) D ata: The LAR & TS data
are collected by a financial institution as a result of applications for, and originations and
purchases of, home-purchase loans (including refinancings) and home-improvement loans for
each calendar year. LARs for 1990 total almost 6.6 million records and 9,332 Transmittal
Sheets (TSs); the 1991 LARs data total over 7.9 million records and 9,359 TSs; the 1992
LARs data total approximately 12.0 million records and 9,072 TSs; and the 1993 LARs data
total approximately 15.0 million records and 9,650 records. The following should be noted:
•
Data are not certified to be error free.
•
For reasons of privacy, the dates and loan application numbers are
omitted from each record.
•
To form a unique identifier for a reporter, the Respondent ID and
single character Agency Code must be used. To form a unique
loan record identifier, the Respondent ID, Agency Code and Loan
Sequence Number must be used. See record layout enclosed with
distribution tape for additional information.
LAR and TS data are distributed on tape at a cost of $500.00. Reels or cartridges may be
chosen. Record formats and file descriptions are included with each order. (Item #102)
If reels are ordered, there will be multiple reels containing the LAR data and one reel
containing the TS data. If cartridges are ordered, there will be several cartridges containing
the LAR data and one containing the TS data. (The number of reels/cartridges containing
LAR data will vary according to the year requested because of the volume of data). Note
that both reels and cartridges containing LAR data will be multi-volume datasets. This
means that to process ALL of the LAR data, each of the reels or cartridges must be read
successively.
LAR and TS data are also distributed on CD-ROM at a cost of $50.00. The user will have
the ability to:
•
Download the data contained on the compact discs to a file
•
Search by MSA, State, County, or Respondent ID and save to a file.
•
Import the file created from a download or search into a software package or
mainframe application. It is important to consider the space limitations
of each application prior to loading the data into that application.
- 26
These LAR and TS files are also available for MICA data beginning with the fourth quarer
1993. The 1993 MICA data are available at a cost of $125 and are only available on reel or
cartridge.
MSA Aggregate Reports and Disclosure Statements on M icrofiche/CD-ROM : The MSA
Aggregate Reports and individual lender Disclosure Statements for each MSA are available
on microfiche at a cost of $20.00 per MSA (Item #301) or on CD-ROM at a cost of $150.00
for the entire nation. (Item #302)
The CD-ROM allows the user to search by MSA, an institution’s individual disclosure
statement, or a specific table on the MSA aggregation report. Printing these records requires
a printer featured for 166 character output.
The MSA Aggregate Reports and Disclosure Statements on Microfiche/CD-ROM are also
available for MICA data. These data are not available prior to 1994.
MSA bv MSA Report on the Disposition of Applications bv Race and Income of Each
Applicant: This report contains one table for each of the MSAs (341 in 1992). It provides
the number and percentage of applications denied by the race and income of the applicants
within the MSA. The report is available in hardcopy only at a cost of $50.00. (Item #006)
These reports are also available for MICA data. These data are not available prior to 1994.
MSA Median Family Income Listing: The listing shows "MSA Median Family Incomes
for 19xx HMDA Reports" where xx is the HMDA year (i.e., 1990, 1991, etc.). If a 1990
Listing is selected, there will be an adjustment factor of 1.6424 applied to the 1980 Median
Family Income column for each MSA to arrive at the Inflation Adjusted 1980 Median Family
Income column. For 1991 and subsequent listings, the median family income of the MSA is
based on estimates developed annually by the Department of Housing and Urban Develop
ment (HUD). The figure for the MSA is the HUD estimate for the fiscal year that corre
sponds to the year for which the loan/application data are reported. For 1996 and years
thereafter, the listing includes median family incomes for non-metro areas by state. This
information is calculated by taking the median family incomes of all census tracts and BNAs
by state outside of the MSA boundaries. The Listing is distributed free of charge. (Item
#004)
National Aggregate R eports: These reports are a nationwide summation of the individual
MSA Aggregate Reports. They indicate the number and dollar amounts of lending, cross
tabulated by loan, applicant, and geographic characteristics. The reports are available in
hardcopy only at a cost of $50.00. (Item #005)
Im imr
r
i Tr
lO
The National Aggregate Reports are also available for MICA data. These data are not
available prior to 1993.
PC Diskettes bv M SA: The PC Diskettes by MSA will contain individual loan application
records coded for the MSAs selected on the form. The data contained for each MSA will be
only for institutions that are located in that MSA — that is, the data reflected in the
Aggregate Report for that MSA. These data cover the institution’s loan activity only in the
27
MSA ordered. There are also seven fields added to each loan application that identify the
population, minority population, and other census information. The number of PC diskettes
generated per MSA will determine the charge. The charges are broken down as follows: 1-4
diskettes per MSA is $25; 5-9 diskettes per MSA is $75; and 10 or more diskettes per MSA
is $150. To determine the amount to submit with your order form, call 202-452-2016 for the
number of diskettes required for each requested MSA(s). (Item #201)
The PC Diskettes by MSA are also available for MICA data. These data are not available
prior to 1994 (see page 9).
'
Reporter Directory: The Reporter Directory is a hardcopy of all HMDA reporters within a
specified MSA, sorted by name of reporter and then by state and county codes. This report:
•
Provides ID number, name of institution, city and state locations,
total assets, and parent ID number.
•
For each state and county in which an institution has activity, the
following are provided:
—
—
—
—
—
—
the state and county codes;
the number of tracts with loans;
the number of loans originated;
the number of applications;
the ratio of loans to applications; and
the number of loans purchased
The charge for non-profit organizations will be $45 per requested MSA and $75 per MSA
for all others. (Item #007)
:
..
”
■
*
■
.
Three-Report Package: This package of three reports is available in hardcopy only. The
following information is provided fpr a specified institution/MSA combination:
Report on Disposition of Loan Applications by Income and Race
•
Compares applications by disposition and by income levels (as a
percentage of the MSA median income—
less than 80%, 80-99%,
100-119%, and 120% or more)
•
Is subdivided by race
Report on Distribution of Loan Applications
•
Provides a summary of a specific institution’s activity by income and racial
characteristics of the census tract within an MSA
•
Covers applications for mortgage and home improvement loans and
refinancings
- 28
•
Provides the number of applications received, the number of loans
originated, and the number of 1-4 family owner-occupied units within each
category of census tract characteristics.
Census T ract Summary
•
Provides the number, dollar amounts, and disposition of applica
tions for a specific institution/MSA by census tracts
•
For each census tract, the following are also provided:
— the median housing value
— the median age of the housing stock
— the median age of the population
— the minority population percentage
— the number of owner-occupied units
— the number of households
— the median income (adjusted)
— the denial rate
•
Census tracts that are low- to moderate-income tracts are highlighted
These reports for non-profit organizations are priced at $45 per requested institution/MSA,
and $75 per institution/MSA for all others. These reports are ordered as a package, not
separately. (Item #008)
A Guide to HMDA Reporting: The Guide was developed to assist those who prepare the
HMDA report for their institution, and also contains an executive summary for management
officials that explains the responsibilities of institutions that are subject to HMDA.. The
1995 version is a comprehensive edition for use beginning with the 1996 calendar year data
(due March 1, 1997). It provides a summary of responsibilities and requirements, directions
for assembling the necessary tools, and step-by-step instructions for reporting HMDA data.
It includes information about obtaining data from the Bureau of the Census, and contains a
listing of MSA, state, and county codes. Appendices include Regulation C; the Instructions
for Completion of the HMDA-LAR; Form and Instructions for Data Collection on Race or
National Origin and Sex; and the Staff Commentary on Regulation C. (Item #010)
@FedFRASER