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Federal Reserve Bank of Dallas 2200 N. PEARL ST. DALLAS, TX 75201-2272 August 19, 2004 Notice 04-56 TO: The Chief Executive Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT Availability of 2003 Data on Mortgage Lending Transactions; Availability of Data on Small Business, Small Farm, and Community Development Lending DETAILS The Federal Financial Institutions Examination Council (FFIEC) has announced the availability of data on 2003 mortgage lending transactions at 8,121 financial institutions covered by the Home Mortgage Disclosure Act (HMDA) in metropolitan statistical areas throughout the nation. These data include disclosure statements for each financial institution, aggregate data for each metropolitan statistical area, and nationwide summary statistics regarding lending patterns. The location of a central depository for a metropolitan statistical area can be obtained by calling the FFIEC at (703) 516-5588. The FFIEC distributes the disclosure statements to institutions and central depositories in electronic form only. In addition, the FFIEC makes HMDA data available directly to the public in CD-ROM format and at the FFIEC’s web site at www.ffiec.gov/hmda. An order form, which gives descriptions of the various reports, prices, and formats, is available at www.ffiec.gov/hmda/orderform.htm. Advance orders will be filled when the data become available. In addition, the FFIEC has announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and thrifts. 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. -2These institutions include independent commercial banks and savings associations with total assets of $250 million or more and institutions of any size if owned by a holding company with assets of $1 billion or more. The FFIEC has prepared a disclosure statement from the 2003 Community Reinvestment Act (CRA) data reported—in electronic form—for each reporting commercial bank and savings association. The FFIEC also has prepared aggregate disclosure statements of small business and small farm lending for each of the metropolitan statistical areas and each of the non-metropolitan counties in the United States and its territories. These statements have been distributed to central depositories throughout the nation, where they are available for public inspection. Central depository locations and an order form for other available data can be found at the following Internet address: www.ffiec.gov/cra The FFIEC’s press releases, fact sheets, and order forms describing the various reports and formats available can be found at www.ffiec.gov/hmcrpr/hm072604.htm and www.ffiec.gov/hmcrpr/cra072604.htm. ATTACHMENT The FFIEC’s press releases, fact sheets, and order forms describing the various reports and formats available are attached. MORE INFORMATION For more information, please contact Eugene Coy, Banking Supervision Department, at (214) 922-6201. Paper copies of this notice or previous Federal Reserve Bank notices can be printed from our web site at www.dallasfed.org/htm/pubs/notices.html. What's New Press Releases About the FFIEC Press Releases Reports Federal Financial Institutions Examination Council For Immediate Release Press Release July 26, 2004 Reporting Forms Handbooks & Catalogues Enforcement Actions and Orders On-line Information Systems Other FFIEC Sites Examiner Education Office Appraisal Subcommittee HMDA CRA Financial Institution Call Report Data The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data for the year 2003 regarding mortgage lending transactions at 8,121 financial institutions covered by the Home Mortgage Disclosure Act (HMDA) in metropolitan statistical areas throughout the nation. These data include disclosure statements for each financial institution, aggregate data for each metropolitan statistical area, and nationwide summary statistics regarding lending patterns. A fact sheet and the nationwide summary statistics are attached to this press release; the following provides a general overview. The FFIEC prepares and distributes the individual disclosure statements and the aggregate reports on behalf of its member agencies-the Federal Deposit Insurance Corporation, Federal Reserve Board, National Credit Union Administration, Office of the Comptroller of the Currency, and Office of Thrift Supervision-and the Department of Housing and Urban Development. Lenders are required to make the disclosure statements available at their home offices within three business days of receiving the statements. In addition, for other metropolitan statistical areas in which they have offices, lenders must either make a copy of the statements available at one branch per metropolitan statistical area or provide a copy upon written request. The disclosure statements and aggregate reports are now available for public inspection at central depositories throughout the nation. The HMDA data cover home purchase and home improvement loans and contain information about loan originations, loan purchases, and applications that did not result in a loan. In 2002, the Federal Reserve Board revised Regulation C, which implements HMDA, to require lenders to collect and report additional data on home loans, including loan pricing information, lien status (secured by a first or subordinate lien, or unsecured), and whether a loan or application relates to a manufactured home.1 Lenders must begin collecting these additional data in 2004 for submission by March 1, 2005 and publication in late summer or early fall 2005. The 2003 data include a total of 42 million reported loans and applications (table 1), which is an increase of about 33 percent from 2002, primarily due to a significant increase in refinancing activity (approximately 41 percent). The number of home purchase loans extended in 2003 compared with 2002 varied by race and ethnicity. From 2002 to 2003, the number of such loans increased 11 percent for whites, 15 percent for blacks, 16 percent for Asians, and 18 percent for Hispanics. Lending to Native Americans fell 5 percent from 2002 to 2003. From 1993 to 2003, the annual number of home purchase loans to Hispanics rose 236 percent; to Asians, 163 percent; to blacks, 106 percent. Over this same period, lending to Native Americans and whites increased more modestly, 50 percent and 44 percent, respectively. (The period 1993 to 2003 is used because HMDA coverage in 1993 was expanded to include significantly more independent mortgage companies than previously had been covered under HMDA.) Refer to table 7, attached, for year-to-year changes during the period 1993 to 2003. The number of home purchase loans extended to all income groups increased modestly from 2002 to 2003. Applicants with incomes less than 80 percent of the median for the metropolitan statistical area experienced an increase of 6 percent; applicants with incomes 80-99 percent of the median, 8 percent; applicants with incomes 100-119 percent of the median, 10 percent; and applicants with incomes 120 percent or more above the median, 13 percent. During the 1993 to 2003 period, the number of home purchase loans to applicants with incomes less than 80 percent of the median for the metropolitan statistical area increased by 102 percent; to applicants with incomes 80-99 percent of the median, 70 percent; to applicants with incomes 100-119 percent of the median, 66 percent; and to applicants with incomes 120 percent or more above the median, 88 percent. Refer to table 7 for year-to-year changes during the period. In 2003, the denial rate for conventional home purchase loans remained the same as in 2002. Denial rates fell from 1999 to 2002, after rising for most of the past decade (information not shown in tables). In 1993, the overall denial rate for conventional home purchase loans was 17 percent; by 1998 this rate had increased to 29 percent. The denial rate fell to 28 percent in 1999; to 27 percent in 2000; to 21 percent in 2001; and to 14 percent in 2002 and 2003. Denial rates continue to vary among racial and ethnic groups. From 2002 to 2003, denial rates changed modestly for some ethnic and racial groups. From 2002 to 2003, denial rates for conventional home purchase loans fell from 26 to 24 percent for black applicants. Native Americans and Asian applicants experienced a slight rise in denial rates for conventional home purchase loans from 2002 to 2003, from 23 percent to 24 percent, and from 10 percent to 11 percent, respectively. Denial rates for whites and Hispanics remained the same, at 12 percent and 18 percent, respectively. Changes reflected in the 2000 Decennial Census complicate 2002 to 2003 comparisons of lending in census tracts grouped by racial or income characteristics. In the 2000 Decennial Census, many census tracts experienced changes in physical boundaries and in demographic characteristics. In 2003, for the first time lenders were required to use these changed census tract boundaries to report property location for loans and applications. In 2002, lenders were required to use the 1990 Decennial Census tract boundaries and demographics. To facilitate comparison of the 2003 data with previous years' data, the 2003 data were adjusted by assigning to the 2000 census tract boundaries their 1990 census tract demographic characteristics (table 8). The adjusted 2003 data show that from 2002 to 2003, census tracts with 80 to 100 percent minority population experienced the greatest increase in home purchase lending, 15 percent; such lending increased 9 percent for census tracts with less than 10 percent minority population; 8 percent for tracts with 10-19 percent minority population and for tracts with 20-49 percent minority population; and 10 percent for tracts with 50-79 percent minority population. Home purchase lending also varies by the income level of census tracts (table 8). Adjusted 2003 data show that low- and moderate-income census tracts taken together experienced the largest increase, 16 percent, in home purchase lending. Such lending for middle- and upper-income census tracts increased by 9 percent, respectively, from 2002 to 2003, according to the adjusted 2003 data. In 2003, the proportion of home loan applications missing race or ethnicity data fell for the second consecutive year. This is a reversal of the trend from 1993 to 2001, when the incidence of applications missing race or ethnicity data increased from 8 percent to 30 percent. The proportion of applications lacking the data fell to 17 percent in 2003, down from 28 percent in 2002 (table 9). The decline in applications missing race and ethnicity data may be due in part to a recent change in reporting requirements. Until January 1, 2003, lenders were not required to request information on an applicant's race or ethnicity and sex when an application was taken entirely by telephone. Because the growth in missing data on race or ethnicity could complicate analyses of changes in home mortgage lending over time, the Federal Reserve Board revised the rule regarding telephone applications. For all applications taken on or after January 1, 2003, lenders are required to ask applicants for race, ethnicity, and sex information in telephone applications. For applications taken in person or by mail or electronic means (such as by facsimile or the Internet), a lender must request the information. In all cases, an applicant has the option not to provide the information. The location of the central depository for a metropolitan statistical area can be obtained by calling the FFIEC at 703/516-5588. The FFIEC distributes the disclosure statements to institutions and central depositories in electronic form only. In addition, the FFIEC makes HMDA data directly available to the public in CD-ROM format and at the FFIEC web site (www.ffiec.gov/hmda). An order form gives descriptions of the various reports, prices, and formats. It is available for printing from the FFIEC web site (www.ffiec.gov/hmda/orderform.htm). Advance orders will be filled when the data become available. The HMDA data also include information on loans that are sold, showing the type of purchaser of the loan. Among other things, the Department of Housing and Urban Development (HUD) uses this information in assessing the performance of Fannie Mae and Freddie Mac in meeting their legislatively mandated affordable housing goals. The FFIEC also provides data from the nation's seven private mortgage insurance (PMI) companies. The 2003 PMI data include information on approximately 2.9 million applications for mortgage insurance; about 1.5 million applications were to insure home purchase mortgages, and about 1.4 million were to insure mortgages to refinance existing obligations. By August, these data will be available-at individual PMI companies, at the central depositories in each metropolitan statistical area, and from the FFIEC-in the same types of reports and in the same formats as the HMDA data. Questions about a HMDA report for a specific lender should be directed to the lender's supervisory agency at the number listed below: Federal Deposit Insurance Corporation - 877/275-3342; hearing impaired 800/925-4618 Federal Reserve Board, HMDA Assistance Line - 202/452-2016 National Credit Union Administration, Office of Examination - 703/518-6360 Office of the Comptroller of the Currency, Compliance Division - 202/874-4428 Office of Thrift Supervision, Consumer Programs - 202/906-6315 Department of Housing and Urban Development, Office of Housing - 202/755-7530. Tables are in Portable Document Format (PDF). Fact Sheet on 2003 Data (with Tables) (Note: Tables are in PDF) HMDA Data Order Forms and Item Descriptions ( PDF) Footnotes 1. 67 FR 7222 (Feb. 15, 2002); 67 FR 43218 (June 27, 2004). 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 What's New About the FFIEC Reports - Nationwide Summary Statistics for 2003 HMDA Data Fact Sheet (July 2004) Reports The following 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. 1 Reporting Forms The Data Handbooks & Catalogues For 2003, the FFIEC prepared 65,808 disclosure statements for 8,121 lenders, with a separate statement for each metropolitan statistical area in which a lender had an office or could be deemed to have an office under Regulation C, based on the number of applications and loans (table 1). The data reflect the lending activity of 4,050 commercial banks; 638 savings associations; 1,903 credit unions; and 1,530 mortgage companies (of which 1,186 were independent mortgage companies). Press Releases Enforcement Actions and Orders On-line Information Systems Other FFIEC Sites Examiner Education Office Appraisal Subcommittee HMDA CRA Financial Institution Call Report Data Applications Received and Loans Made In 2003, lenders covered by HMDA reported a total of about 42 million loans and applications that did not result in an origination (table 1). The total volume of reported home loan applications and purchases increased in 2003 by 33 percent from 2002, primarily due to a significant increase (41 percent) in refinancing activity. The 2003 data show that lenders acted on approximately 34 million applications for home purchase loans, home improvement loans, and refinancings (compared with approximately 26 million in 2002), and they purchased about 7 million loans (compared with 5 million in 2002). The number of applications for home purchase loans in 2003 increased from 2002 levels by 10 percent. Requests for refinancings accounted for 72 percent of all home loan applications (data not shown in tables). This proportion is about 9 percent higher than in 2002, when applications for refinancings accounted for about 66 percent of all applications. The increased volume and share of applications for refinancings resulted primarily from a sharp drop in interest rates on mortgage loans. Loan Programs and Changes in Lending Volume by Race and Income Lending institutions tend to specialize in different types of home loans. For example, in the case of home purchase loans, mortgage companies tend to do most of the government-backed lending, including FHA and VA loans, accounting for about 83 percent of all such originations in 2003. Depository institutions, particularly commercial banks, do most of the home improvement (84 percent) and multifamily lending (90 percent). (Data not shown in tables.) Lower-income households rely more heavily on government-backed loans than do higher-income households (table 2). The low downpayment requirements and the ability to finance closing costs make FHA and VA loans particularly attractive to lower-income households and first-time homebuyers, who are likely to have fewer financial resources than other homebuyers. Dollar limits on the amount of FHA loan insurance or VA loan guarantees make these government-backed loans unavailable or less attractive to households seeking to buy more expensive properties. Applications for different types of home purchase loans vary across racial and ethnic groups and income categories (table 2). For example, in 2003, 19 percent of Hispanic applicants and 21 percent of black applicants for home purchase loans applied for government-backed mortgages; the comparable rates for Asians, whites, and Native Americans were 4 percent, 12 percent, and 15 percent, respectively. Moreover, 21 percent of home purchase loan applicants with incomes less than 80 percent of the median family income for their metropolitan statistical areas applied for government-backed loans; by contrast, 5 percent of applicants with incomes of at least 120 percent of the metropolitan statistical area median applied for such loans (derived from table 2, government-backed memo item). In addition, loan applicants seeking to buy a home in low- or moderate-income neighborhoods were more likely to apply for government-backed loans than those seeking to buy homes in upper-income neighborhoods. In central cities and neighborhoods with greater proportions of minority residents, applications for government-backed loans accounted for a higher share of all home purchase loan applications, than did such applications in non-central cities and neighborhoods with smaller proportions of minority residents. For conventional and government-backed home purchase lending, lending to Asians, Hispanics, blacks, and whites was up about 16 percent, 18 percent, 15 percent, and 11 percent, respectively, from 2002 to 2003; Native Americans experienced a 5 percent decline in such lending from 2002 to 2003 (table 7). Home purchase lending increased for all income categories from 2002 to 2003. Applicants with incomes 120 percent or more above the median for the metropolitan statistical area experienced the greatest expansion, 13 percent; over the same period, home purchase lending increased by 10 percent for applicants with incomes 100-119 percent of the median, 8 percent for applicants with incomes 80-99 percent of the median, and 6 percent for applicants with incomes less than 80 percent of the median (table 7). Denial Rates The overall denial rate for conventional home purchase loans in 2003 was 14 percent, a rate unchanged from 2002, but well below the rate in 2001 (21 percent). A large portion of this decline can be attributed to a significant drop in 2002 and in 2003 of the number of applications for manufactured home loans, which have very high denial rates.2 (Data not shown in tables). In 2002, the roughly two-dozen reporters categorized by HUD as manufactured home loan specialists denied about 60 percent of all the applications they received for conventional home purchase loans, and in 2003, they denied about 61 percent of those applications. This proportion represents a marginal decline from earlier years, when these lenders denied about two-thirds of all their applicants. In 2002 and in 2003, there was a sharp contraction from 2001 in reported manufactured home loan activity. (Data not shown in tables.) The number of applications for conventional home purchase loans submitted to these lenders in 2002 dropped 65 percent from 2001, and in 2003 fell 37 percent from 2002, reflecting difficulties in the manufactured housing market. If the manufactured home purchase loan applications and denials reported by these lenders are excluded from both the 2002 and 2003 data, the denial rates for conventional home purchase loan applications would have been 11.5 percent in 2002 (instead of 14 percent) and 12.4 percent in 2003 (instead of 14 percent). The HMDA data show that denial rates for home purchase loan applications vary with income. For example, in 2003 the denial rate for conventional home purchase loans for lower-income applicants was 19 percent as compared with 9 percent for higher-income applicants (derived from table 3). Denial rates for conventional home purchase loans continue to vary among applicants by race or ethnicity and by income. In 2003, 24 percent of black applicants, 24 percent of Native American applicants, 18 percent of Hispanic applicants, 12 percent of white applicants, and 11 percent of Asian applicants were denied conventional home purchase loans (table 3). These rates of denial are little changed from 2002: denial rates for conventional home purchase loans in 2002 were 26 percent for blacks, 23 percent for Native Americans, 18 percent for Hispanics, 12 percent for whites, and 10 percent for Asians. The denial rates from 2002 to 2003 follow the general pattern of declining denial rates since 1998. This pattern is in contrast to the experience over the longer period from 1993 to 1998, when denial rates for all ethnic and racial groups increased substantially. Differences in the income levels of the racial or ethnic groups account for some of the differences among them in denial rates for 2003. However, other factors are more important given that for all income groups, white and Asian applicants experienced lower rates of denial than Native American, black, or Hispanic applicants (table 4). The extent to which racial discrimination may account for remaining differences in denial rates across racial and ethnic lines cannot be determined solely from the HMDA data reported by lenders. Many lenders report reasons for denial of loan applications; in 2003, as in prior years, the reason most frequently cited for the denial of a single-family home loan application, regardless of the applicant's race or ethnic status, was poor or no credit history (data not shown in tables). This factor was cited in 36 percent of the denials for Native Americans, 33 percent of the denials for blacks, 30 percent of the denials for whites, 28 percent of the denials for Hispanics, and in 19 percent of the denials for Asians. The Impact of the 2000 Decennial Census on assessing changes in lending by census tract characteristics, 2002 to 2003 Changes reflected in the 2000 Decennial Census complicate 2002 to 2003 comparisons of lending in census tracts grouped by racial or income characteristics. In the 2000 Decennial Census, many census tracts experienced changes in physical boundaries and in demographic characteristics. Lenders were required to use these changed census tract boundaries to report property location for loans and applications for the first time in 2003. In 2002, lenders were required to use the 1990 Decennial Census tract boundaries and demographics. Between the 1990 and the 2000 Decennial Census, substantial changes occurred in neighborhood demographic characteristics (table 8, memo item). In 1990, 43 percent of all census tracts had a population that was less than 10 percent minority (derived from data shown in the 1990 column); in 2000, only 28 percent of the census tracts had a population that was less than 10 percent minority (derived from data shown in 2000 column). Moreover, the number of census tracts that were over 80 percent minority increased by about 50 percent from 1990 to 2000. Changes in the distribution of census tracts by relative median family income were much less significant. To facilitate comparison of the 2003 data with previous years' data, the 2003 data were adjusted by assigning to the 2000 census tract boundaries their 1990 census tract demographic characteristics (table 8). The adjusted 2003 data show that from 2002 to 2003, census tracts with 80 to 100 percent minority population experienced the greatest increase in home purchase lending, 15 percent; such lending increased 9 percent for census tracts with less than 10 percent minority population; 8 percent for tracts with 10-19 percent minority population and 8 percent for tracts with 20-49 percent minority population; and 10 percent for tracts with 50-79 percent minority population. Home purchase lending also varies by the income level of census tracts (table 8). Adjusted 2003 data show that low- and moderate-income census tracts taken together experienced the largest increase, 16 percent, in home purchase lending. Such lending for middle- and upper-income census tracts increased by 9 percent, respectively, from 2002 to 2003, according to the adjusted 2003 data. Missing Information on Race and Ethnicity Until recently, lenders were not required to collect information on an applicant's race or ethnicity and sex for applications taken entirely by telephone. From 1993 to 2001, the incidence of applications of all types lacking race or ethnicity data grew from 8 percent to 30 percent. However, as of January 1, 2003, lenders are required to ask applicants for race, ethnicity, and sex information in telephone applications. For applications taken in person or by mail or electronic means (such as by facsimile or the Internet), a lender must request the information. In all cases, an applicant has the option not to provide the information. The 2003 HMDA data suggest that the change in reporting requirements may have reduced the incidence of applications and loans reported without data on race or ethnicity. The proportion of applications of all types lacking race or ethnicity data fell to 17 percent in 2003, down from 28 percent in 2002 (table 9). For home purchase loan applications, the proportion of applications missing race or ethnicity data is lower than the proportion for other application types, but follows the same general pattern. Applications for home purchase loans lacking information on race or ethnicity grew from about 4 percent in 1993 to about 18 percent in 2001, involving roughly 1.4 million loan applications in 2001. In 2002, the percentage of such applications fell to 15 percent, but involved roughly 1.1 million applications; in 2003, the percentage fell to 12 percent and involved roughly 1 million applications. The same pattern is observed for home purchase loans originated. In 1993, 3 percent of such loans lacked information about race or ethnicity; by 2001, 13 percent lacked this information. In 2002, the proportion of home purchase loans missing the information fell to 12 percent, and in 2003 it fell to 10 percent. Attachments: Tables 1 through 9 Tables are in Portable Document Format (PDF). Footnotes 1.The FFIEC has also compiled insurance data submitted by seven major private mortgage insurance (PMI) companies under the auspices of the Mortgage Insurance Companies of America. These data, which relate to application decisions made by the PMI companies during 2003, show about 2.9 million applications for PMI (about 1.5 million for home purchase loans, and 1.4 million for refinancings). These data are available from the individual companies, and-in the same formats as the HMDA data-at the central depositories and from the FFIEC. 2. These calculations are based on the list of lenders identified by HUD as manufactured home lending specialists in 2002, which was the most recent list available at the time of this publication. 1. Residential lending activity reported by financial institutions covered by HMDA, 1981-2003 Year Number of loans1 (millions) Number of reporting institutions2 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 3 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 35,069 1994 12.20 9,858 37,742 1995 11.23 9,539 36,611 1996 14.81 9,328 42,936 4 16.41 7,925 47,416 1998 24.66 7,837 57,294 1999 22.91 7,833 56,966 2000 19.24 7,713 52,776 2001 27.58 7,631 53,066 2002 31.24 7,771 57,429 2003 41.56 8,121 65,808 1990 1997 1. Before 1990, includes only loans originated by covered institutions; beginning in 1990 (first year under the 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. Beginning with data for 1989, HMDA was amended to extend coverage to mortgage lending subsidiaries of bank holding companies and savings and loan holding companies, and to savings and loan service corporations. Congress expanded HMDA coverage effective beginning with data for 1990, to include most types of mortgage lenders, including independent mortgage companies. Beginning with data for 1993, coverage of independent mortgage companies was significantly increased by an amendment taking into account lending volume as well as asset size. 3. 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 of additional data. 4. First year since HMDA was enacted that the asset exemption threshold for coverage of depository institutions was increased to account for the effects of inflation. SOURCE. For this and subsequent tables, FFIEC, Home Mortgage Disclosure Act data. 2. Applications for one- to four-family home loans under HMDA, grouped by purpose of loan and distributed by characteristic of applicant and census tract, 2003 Home purchase Government-backed1 Characteristic APPLICANT Racial/ethnic identity American Indian/Alaskan Native Asian/Pacific Islander Black Hispanic White Other Joint (white/minority) Total Income (percentage of MSA median)2 Less than 50 50-79 80-99 100-119 120 or more Total CENSUS TRACT Racial composition (minorities as percentage of population) Less than 10 10-19 20-49 50-79 80-100 Total Home refinancing Conventional Memo: Number Percent Memo: Number Percent Home improvement Number Percent Number Percent 4,759 13,852 122,375 157,844 602,978 10,577 29,355 941,740 0.5 1.5 13.0 16.8 64.0 1.1 3.1 100.0 14.7 4.0 20.5 18.6 11.9 9.9 15.1 13.1 27,703 336,447 475,171 688,980 4,464,612 95,742 164,935 6,253,590 0.4 5.4 7.6 11.0 71.4 1.5 2.6 100.0 85.3 96.0 79.5 81.4 88.1 90.1 84.9 86.9 80,665 855,508 1,394,845 1,574,877 15,118,062 491,170 519,310 20,034,437 0.4 4.3 7.0 7.9 75.5 2.5 2.6 100.0 8,279 24,548 132,032 136,623 846,202 19,239 26,025 1,192,948 0.7 2.1 11.1 11.5 70.9 1.6 2.2 100.0 128,373 309,200 161,642 105,335 145,533 850,083 15.1 36.4 19.0 12.4 17.1 100.0 21.0 21.4 17.0 12.8 5.1 12.7 483,869 1,132,751 787,698 718,315 2,723,448 5,846,081 8.3 19.4 13.5 12.3 46.6 100.0 79.0 78.6 83.0 87.2 94.9 87.3 1,647,694 3,822,933 2,751,648 2,482,877 8,644,677 19,349,829 8.5 19.8 14.2 12.8 44.7 100.0 179,386 283,030 180,078 152,223 439,827 1,234,544 14.5 22.9 14.6 12.3 35.6 100.0 202,451 190,132 276,433 114,937 76,239 860,192 23.5 22.1 32.1 13.4 8.9 100.0 10.6 12.2 13.5 13.7 13.5 12.4 1,710,944 1,369,878 1,772,943 726,434 486,605 6,066,804 28.2 22.6 29.2 12.0 8.0 100.0 89.4 87.8 86.5 86.3 86.5 87.6 6,732,090 4,749,112 5,776,945 2,359,834 1,636,195 21,254,176 31.7 22.3 27.2 11.1 7.7 100.0 399,396 246,404 303,079 135,389 123,618 1,207,886 33.1 20.4 25.1 11.2 10.2 100.0 2. (continued) Home purchase Government-backed Characteristic Income3 Low Moderate Middle Upper Total Location4 Central city Non-central city Total Number Percent 20,809 179,031 479,158 191,457 870,455 2.4 20.6 55.0 22.0 100.0 394,977 483,098 878,075 45.0 55.0 100.0 Home refinancing Conventional Memo: Memo: Number Percent Home improvement Number Percent Number Percent 11.8 16.0 14.9 7.8 12.5 154,910 938,156 2,746,775 2,259,474 6,099,315 2.5 15.4 45.0 37.0 100.0 88.2 84.0 85.1 92.2 87.5 392,276 2,963,988 9,963,219 80,084,747 93,404,230 0.4 3.2 10.7 85.7 100.0 39,182 230,459 625,202 347,765 1,242,608 3.2 18.5 50.3 28.0 100.0 14.1 11.5 12.5 2,405,600 3,735,738 6,141,338 39.2 60.8 100.0 85.9 88.5 87.5 7,760,633 13,703,485 21,464,118 36.2 63.8 100.0 476,426 780,666 1,257,092 37.9 62.1 100.0 Note: Lenders reported 34,322,045 applications for home loans in 2003, but applicant and geographic information was not reported for all applications. Thus, the distribution of applications varies in number by characteristic. 1. Loans backed by the Federal Housing Administration, the Department of Veterans Affairs, or the Rural Housing Service. 2. Median for a metropolitan statistical area is median family income of the metropolitan statistical area in which the property related to the loan is located. 3. Census tracts are categorized by the median family income for the tract relative to the median family income for the metropolitan statistical area in which the tract is located. Categories are defined as follows: Low income for census tract less than 50 percent of median family income for metropolitan statistical area; Moderate income, median family income for census tract 50 percent to 79 percent of metropolitan statistical area median; Middle income, median family income 80 percent to 119 percent of metropolitan statistical area median; Upper income, median family income 120 percent or more of metropolitan statistical area median. 4. For census tracts located in metropolitan statistical areas. 3. Disposition of conventional home purchase loan applications, by characteristics of applicant, 2003 Percentage distribution by number of applications Type of disposition Applicant characteristics Approved Denied Withdrawn File closed Total Race/ethnic identity American Indian/Alaskan Native 63.7 24.0 9.5 2.7 100 Asian/Pacific Islander 78.0 11.4 8.2 2.4 100 Black 63.6 24.3 8.9 3.2 100 Hispanic 70.2 18.4 8.5 2.8 100 White 79.8 11.6 6.8 1.8 100 Other 71.2 15.3 10.1 3.3 100 76.9 11.8 9.4 1.9 100 Less than 50 64.0 25.5 8.1 2.4 100 50-79 74.5 15.7 7.3 2.4 100 80-99 77.8 12.5 7.4 2.3 100 100-119 79.3 11.1 7.5 2.1 100 120 or more 80.9 9.3 7.8 2.0 100 Joint (white/minority) Income (percentage of MSA median) 1 1. Metropolitan statistical median is median family income of the metropolitan statistical area in which the property to the loan is located. 4. Disposition of conventional home purchase loan applications, by income and race of applicant, 2003 Percent distribution by number of applications Type of disposition Applicant characteristics Approved Denied Withdrawn File closed Total Less than 50 American Indian/Alaskan Native 52.2 36.2 9.2 2.4 100 Asian/Pacific Islander 70.4 17.3 9.2 3.1 100 Black 55.8 33.1 7.8 3.3 100 Hispanic 59.9 29.7 7.5 2.8 100 White 69.2 22.4 6.5 1.9 100 American Indian/Alaskan Native 64.3 23.6 9.3 2.8 100 Asian/Pacific Islander 78.7 12.1 6.9 2.3 100 Black 64.6 23.5 8.2 3.8 100 Hispanic 68.9 20.5 7.6 3.0 100 White 79.4 12.8 6.0 1.9 100 American Indian/Alaskan Native 69.8 17.9 9.6 2.7 100 Asian/Pacific Islander 80.0 10.8 7.0 2.3 100 Black 67.6 20.3 8.5 3.5 100 Hispanic 71.6 17.8 7.9 2.7 100 White 82.2 9.9 6.1 1.8 100 American Indian/Alaskan Native 70.9 15.6 10.0 3.5 100 Asian/Pacific Islander 80.2 10.4 7.3 2.2 100 Black 68.6 19.3 8.7 3.4 100 Hispanic 73.0 16.4 8.1 2.6 100 White 83.6 8.5 6.2 1.7 100 American Indian/Alaskan Native 74.0 14.0 9.4 2.7 100 Asian/Pacific Islander 78.8 10.6 8.2 2.4 100 Black 69.7 18.0 9.5 2.8 100 Hispanic 74.2 14.5 8.5 2.9 100 White 84.5 7.3 6.6 1.6 100 50-79 80-99 100-119 120 or more 5. Conventional home purchase loans by racial or ethnic group and income of borrowers, 1993-2003 Number of loans and percentage change Borrower and census tract characteristic 1993 1994 1995 1996 Number of loans Percentage change Year Period 1997 1998 1999 2000 2001 2002 2003 19931994 19961997 19951996 19941995 19971998 19981999 Memo: 19992000 20002001 20012002 20022003 Percentage change 1993-2003 Borrower Racial/ethnic identity American Indian 8,638 10,691 10,712 11,368 11,254 13,175 20,965 19,820 11,728 14,244 14,844 23.8 .2 6.1 -1.0 17.1 59.1 -5.5 -40.8 21.5 4.2 71.8 Asian 78,671 93,319 85,571 91,547 103,192 118,486 138,453 152,715 159,065 193,931 230,126 18.6 -8.3 7.0 12.7 14.8 16.9 10.3 4.2 21.9 18.7 192.5 Black 81,322 125,796 138,034 135,944 139,544 158,266 178,108 180,445 166,321 189,817 248,518 54.7 9.7 -1.5 2.6 13.4 12.5 1.3 -7.8 14.1 30.9 205.6 Hispanic 91,345 129,695 134,982 135,683 132,808 162,365 197,731 225,539 252,057 314,951 417,667 42.0 4.1 .5 -2.1 22.3 21.8 14.1 11.8 25.0 32.6 357.2 2,281,450 2,205,360 2,354,024 2,402,232 2,760,370 2,800,695 2,666,849 2,654,809 2,822,776 3,239,564 15.7 -3.3 6.7 2.0 14.9 1.5 -4.8 -0.5 6.3 14.8 64.3 White 1,971,153 Income (percentage of MSA median)1 Less than 80 407,059 516,824 494,007 558,162 571,125 712,690 818,572 803,625 796,138 892,776 1,018,652 27.0 -4.4 13.0 2.3 24.8 14.9 -1.8 -0.9 12.1 14.1 150.2 80-99 248,402 295,734 282,925 315,681 323,000 386,811 411,327 407,703 421,845 476,251 546,548 19.1 -4.3 11.6 2.3 19.8 6.3 -.9 3.5 12.9 14.8 120.0 100-119 246,294 285,044 268,682 299,878 306,796 367,248 381,458 380,762 396,689 442,731 509,760 15.7 -5.7 11.6 2.3 19.7 3.9 -.2 4.2 11.6 15.1 107.0 120 or more 950,597 1,069,305 1,047,464 1,172,762 1,251,561 1,450,085 1,506,628 1,572,914 1,610,825 1,718,553 1,980,357 12.5 -2.0 12.0 6.7 15.9 3.9 4.4 2.4 6.7 15.2 108.3 5. (continued) Borrower and census tract characteristic 1993 1994 1995 1996 Number of loans Percentage change Year Period 1997 1998 1999 2000 2001 2002 2003 19931994 19951996 19941995 19961997 19971998 Memo: 19981999 19992000 20002001 20012002 20022003 Percentage change 1993-2003 Census Tract Racial composition (minorities as a percentage of population) Less than 10 11.1 -3.7 14.6 3.1 17.0 3.7 -1.7 2.9 5.8 -28.4 17.4 10-19 1,077,879 1,197,432 1,153,284 1,321,350 1,362,339 1,594,523 1,653,163 1,625,595 1,672,287 1,768,552 1,265,537 386,443 460,110 437,355 510,044 548,938 664,749 705,721 718,107 747,682 819,564 990,047 19.1 -4.9 16.6 7.6 21.1 6.2 1.8 4.1 9.6 20.8 156.2 20-49 272,690 337,292 322,835 370,646 398,713 493,515 556,203 591,202 616,421 711,096 1,213,156 23.7 -4.3 14.8 7.6 23.8 12.7 6.3 4.3 15.4 70.6 344.9 50-79 81,628 101,817 98,145 105,828 113,049 136,923 156,478 171,565 175,933 208,014 449,202 24.7 -3.6 7.8 6.8 21.1 14.3 9.6 2.5 18.2 115.9 450.3 80-100 43,263 56,329 56,545 55,981 59,347 71,529 86,815 98,868 99,112 125,122 261,894 30.2 .4 -1.0 6.0 20.5 21.4 13.9 0.2 26.2 109.3 505.4 Low or moderate 185,014 224,434 232,659 255,204 268,463 323,795 366,187 393,374 388,519 449,042 644,757 21.3 3.7 9.7 5.2 20.6 13.1 7.4 -1.2 15.6 43.6 248.5 Middle 897,645 1,053,155 1,010,219 1,145,439 1,185,276 1,416,359 1,526,200 1,566,251 1,629,058 1,803,996 1,891,076 17.3 -4.1 13.4 3.5 19.5 7.8 2.6 4.0 10.7 4.8 110.7 Upper 783,695 12.0 -5.7 16.8 6.6 19.0 3.9 -1.4 4.1 6.7 19.5 112.7 Income of census tract2 877,527 827,855 966,599 1,030,747 1,226,778 1,274,545 1,256,511 1,307,542 1,395,165 1,666,649 1. MSA median is median family income of the metropolitan statistical area in which the property related to the loan is located. 2. Census tracts are categorized by the median family income for the tract relative to the median income for the metropolitan statistical area (MSA) in which the tract is located. Categories are defined as follows: low or moderate, median family income for census tract less than 80 percent of median family income for MSA; middle income, median family income for census tract 80 percent to 119 percent of MSA median; upper income, median family income 120 percent or more of MSA median. 6. Government-backed home purchase loans by racial or ethnic group and income of borrowers, 1993-2003 Number of loans and percentage change Borrower and census tract characteristic 1993 1994 1995 1996 Number of loans Percentage change Year Period 1997 1998 1999 2000 2001 2002 2003 19931994 19941995 19951996 19961997 19971998 19981999 Memo: 19992000 20002001 20012002 20022003 Percentage change 1993-2003 Borrower Racial/ethnic identity American Indian 3,298 3,295 2,850 3,743 3,679 4,912 5,158 5,094 3,551 4,508 3,006 -.1 -13.5 31.3 -1.7 33.5 5.0 -1.2 -30.3 27.0 -33.3 -8.9 Asian 12,698 11,662 11,813 13,797 14,998 15,214 16,989 15,728 16,086 12,978 10,281 -8.2 1.3 16.8 8.7 1.4 11.7 -7.4 2.3 -19.3 -20.8 -19.0 Black 81,057 92,514 102,237 111,748 117,689 120,827 131,956 126,227 118,922 101,674 86,140 14.1 10.5 9.3 5.3 2.6 9.2 -4.3 -5.8 -14.5 -15.3 +6.3 Hispanic 66,089 71,761 81,067 109,343 121,574 132,274 150,789 148,775 153,752 134,942 110,862 8.6 13.0 34.9 11.2 8.8 14.0 -1.3 3.3 -12.2 -17.8 67.7 606,619 522,932 512,701 583,962 594,837 621,826 640,173 558,689 602,733 518,956 478,316 -13.8 -2.0 13.9 1.9 4.5 3.0 -12.7 7.9 -13.9 -7.8 -21.2 White Income (percentage of MSA median)1 Less than 80 260,387 250,708 244,011 310,788 349,829 380,605 424,215 388,162 420,698 379,248 329,206 -3.7 -2.7 27.4 12.6 8.8 11.5 -8.5 8.4 -9.9 -13.2 26.4 80-99 148,963 140,168 142,470 168,753 173,160 178,973 193,107 179,307 184,730 148,285 127,482 -5.9 1.6 18.4 2.6 3.4 7.9 -7.1 3.0 -19.7 -14.0 -14.4 100-119 110,821 100,398 105,308 118,066 117,922 122,536 131,331 122,585 125,655 97,859 83,778 -9.4 4.9 12.1 -.1 3.9 7.2 -6.7 2.5 -22.1 -14.4 -24.4 120 or more 165,111 146,654 157,666 173,402 164,429 170,384 177,860 169,660 170,771 136,691 114,237 -11.2 7.5 10.0 -5.2 3.6 4.4 -4.6 0.7 -20.0 -16.4 -30.2 6. (continued) Borrower and census tract characteristic 1993 1994 1995 1996 Number of loans Percentage change Year Period 1997 1998 1999 2000 2001 2002 2003 19931994 19941995 19951996 19961997 19971998 19981999 Memo: 19992000 Percentage change 2000- 2001- 20022001 2002 2003 1993-2003 Census Tract Racial composition (minorities as a percentage of population) Less than 10 285,148 246,603 246,410 297,036 312,574 329,303 360,012 328,597 364,709 309,897 161,091 -13.5 -.1 20.5 5.2 5.4 9.3 -8.7 11.0 -15.0 -48.0 -43.5 10-19 163,988 148,902 152,157 180,104 182,787 196,643 213,278 196,082 208,670 174,786 150,565 -9.2 2.2 18.4 1.5 7.6 8.5 -8.1 6.4 -16.2 -13.9 -8.2 20-49 163,230 159,599 162,391 192,504 197,994 213,323 227,165 211,882 215,533 181,683 212,108 -2.2 1.7 18.5 2.9 7.7 6.5 -6.7 1.7 -15.7 16.7 29.9 50-79 46,295 46,085 48,272 57,631 61,929 65,120 68,911 65,295 63,593 53,134 82,038 -.5 4.7 19.4 7.5 5.2 5.8 -5.2 -2.6 -16.4 54.4 77.2 80-100 27,138 27,943 32,580 39,405 43,993 44,513 47,000 46,376 44,040 36,901 50,961 3.0 16.6 20.9 11.6 1.2 5.6 -1.3 -5.0 -16.2 38.1 87.8 Low or moderate 107,348 100,613 110,075 133,729 142,008 145,386 155,393 153,313 153,064 131,727 142,561 -6.3 9.4 21.5 6.2 2.4 6.9 -1.3 -0.2 -13.9 8.2 32.8 Middle 405,250 375,626 376,620 447,372 467,774 500,665 541,348 503,237 532,983 454,075 371,338 -7.3 .3 18.8 4.6 7.0 8.1 -7.0 5.9 -14.8 -18.2 -8.4 Upper 178,137 158,462 161,753 193,611 198,742 212,015 229,603 201,888 219,098 177,675 148,859 -11.0 2.1 19.7 2.7 6.7 8.3 -12.1 8.5 -18.9 -16.2 -16.4 Income of census tract2 1. MSA median is median family income of the metropolitan statistical area in which the property related to the loan is located. 2. Census tracts are categorized by the median family income for the tract relative to the median income for the metropolitan statistical area (MSA) in which the tract is located. Categories are defined as follows: low or moderate, median family income for census tract less than 80 percent of median family income for MSA; middle income, median family income for census tract 80 percent to 119 percent of MSA median; upper income, median family income 120 percent or more of MSA median. 7. All home purchase loans by racial or ethnic group and income of borrowers, 1993-20031 Number of loans and percentage change Borrower characteristic 1993 1994 1995 1996 Number of loans Percentage change Year Period 1997 1998 1999 2000 2001 2002 2003 19941995 19931994 19951996 19961997 19971998 Memo: 19981999 19992000 20002001 20012002 20022003 Percentage change 1993-2003 Borrower Racial/ethnic identity American Indian 11,936 13,986 13,562 15,111 14,933 18,087 26,123 24,914 15,279 18,752 17,850 17.2 -3.0 11.4 -1.2 21.1 44.4 -4.6 -38.7 22.7 -4.8 49.5 Asian 91,369 104,981 97,384 105,344 118,190 133,700 155,442 168,443 175,151 206,909 240,407 14.9 -7.2 8.2 12.2 13.1 16.3 8.4 4.0 18.1 16.2 163.1 Black 162,379 218,310 240,268 247,692 257,233 279,093 310,064 306,672 285,243 291,491 334,658 34.4 10.1 3.1 3.9 8.5 11.1 -1.1 -7.0 2.2 14.8 106.1 Hispanic 157,434 201,456 216,049 245,026 254,382 294,639 348,520 374,314 405,809 449,893 528,529 28.0 7.2 13.4 3.8 15.8 18.3 7.4 8.4 10.9 17.5 235.7 2,577,772 2,804,382 2,718,061 2,937,986 2,997,069 3,382,196 3,440,868 3,225,538 3,257,542 3,341,732 3,717,880 8.8 -3.1 8.1 2.0 12.9 1.7 -6.3 1.0 2.6 11.3 44.2 White Income (percentage of MSA median)2 Less than 80 667,446 767,532 738,015 868,950 920,954 1,093,295 1,242,787 1,191,787 1,216,836 1,272,024 1,347,858 15.0 -3.8 17.7 6.0 18.7 13.7 -4.1 2.1 4.5 6.0 101.9 80-99 397,365 435,902 425,395 484,434 496,160 565,784 604,434 587,010 606,575 624,536 674,030 9.7 -2.4 13.9 2.4 14.0 6.8 -2.9 3.3 3.0 7.9 69.6 100-119 357,115 385,442 373,991 417,944 424,718 489,784 512,789 503,347 522,344 540,590 593,538 7.9 -3.0 11.8 1.6 15.3 4.7 -1.8 3.8 3.5 9.8 66.2 1,115,708 1,215,959 1,205,130 1,346,164 1,415,990 1,620,469 1,684,488 1,742,574 1,781,596 1,855,244 2,094,594 9.0 -.9 11.7 5.2 14.4 4.0 3.4 2.2 4.1 12.9 87.7 120 or more 7. (continued) Borrower characteristic 1993 1994 1995 1996 Number of loans Percentage change Year Period 1997 1998 1999 2000 2001 2002 2003 19941995 19931994 19951996 19961997 19971998 Memo: 19981999 19992000 20002001 20012002 20022003 Percentage change 1993-2003 Census Tract Racial composition (minorities as a percentage of population) Less than 10 5.9 -3.1 15.6 3.5 14.9 4.6 -2.9 4.2 2.0 -31.4 4.7 10-19 1,363,027 1,444,035 1,399,694 1,618,386 1,674,913 1,923,826 2,013,175 1,954,192 2,036,996 2,078,449 1,426,628 550,431 609,012 589,512 690,148 731,725 861,392 918,999 914,189 956,352 994,350 1,140,612 10.6 -3.2 17.1 6.0 17.7 6.7 -0.5 4.6 4.0 14.7 107.2 20-49 435,920 496,891 485,225 563,150 596,707 706,838 783,368 803,084 831,954 892,779 1,425,264 14.0 -2.3 16.1 6.0 18.5 10.8 2.5 3.6 7.3 59.6 227.0 50-79 127,923 147,902 146,416 163,459 174,978 202,043 225,389 236,860 239,526 261,148 531,240 15.6 -1.0 11.6 7.0 15.5 11.6 5.1 1.1 9.0 103.4 315.3 80-100 70,401 84,272 89,124 95,386 103,340 116,042 133,815 145,244 143,152 162,023 312,855 19.7 5.8 7.0 8.3 12.3 15.3 8.5 -1.4 13.2 93.1 344.4 292,362 325,047 342,731 388,933 410,471 469,181 521,580 546,687 541,583 580,769 787,318 11.2 5.4 13.5 5.5 14.3 11.2 4.8 -0.9 7.2 35.6 169.3 1,302,895 1,428,781 1,386,839 1,592,811 1,653,050 1,917,024 2,067,548 2,069,488 2,162,041 2,258,071 2,262,414 9.7 -2.9 14.9 3.8 16.0 7.9 0.1 4.5 4.4 0.0 73.6 7.7 -4.5 17.2 6.0 17.0 4.5 -3.0 4.7 3.0 15.4 88.8 Income of census tract3 Low or moderate Middle Upper 961,832 1,035,989 989,608 1,160,210 1,229,489 1,438,793 1,504,148 1,458,399 1,526,640 1,572,840 1,815,508 1. Includes both conventional and government-backed home purchase loans. 2. MSA median is median family income of the metropolitan statistical area in which the property related to the loan is located. 3. Census tracts are categorized by the median family income for the tract relative to the median income for the metropolitan statistical area (MSA) in which the tract is located. Categories are defined as follows: low or moderate, median family income for census tract less than 80 percent of median family income for MSA; middle income, median family income for census tract 80 percent to 119 percent of MSA median; upper income, median family income 120 percent or more of MSA median. 8. Home purchase lending by census tract characteristic using both 2000 Decennial Census and 1990 Decennial Census1 Number of loans2 Actual Borrower characteristic 2002 Adjusted 2003 2003 Percent change 2002-2003 Actual Memo: Number of census tracts Adjusted 1990 2000 2000 Adjusted Racial composition (minorities as a percentage of population) Less than 10 2,060,183 1,426,628 2,244,462 -30.8 8.94 20,110 14,236 21,102 10-19 988,080 1,140,612 1,072,011 15.4 8.49 7,775 9,435 9,126 20-49 889,672 1,425,264 963,710 60.2 8.32 8,794 12,888 9,960 50-79 259,980 531,240 285,921 104.3 9.98 4,218 6,818 4,597 80-100 162,030 312,855 185,561 93.1 14.52 5,481 8,288 5,696 565,155 782,038 653,101 38.4 15.56 13,305 16,063 13,853 Middle 2,231,713 2,250,929 2,422,769 0.9 8.56 20,937 22,121 23,400 Upper 1,561,004 1,801,984 1,703,763 15.4 9.15 10,688 13,105 13,199 Income of census tract3 Low or moderate 1. Actual figures are those reported in 2002 or 2003 HMDA data filings excluding Puerto Rico (information on the 1990 characteristics for the 2000 census tract boundaries in Puerto Rico were not available). The 2002 figures were reported using 1990 census tract boundaries and 1990 census tract demographic characteristics. The 2003 data figures were reported using 2000 census tract boundaries and 2000 census tract characteristics. The 2003 adjusted figures assign to each 2000 census tract area its 1990 characteristics. 2. Includes both conventional and government-backed home purchase loans. 3. Census tracts are categorized by the median family income for the tract relative to the median income for the metropolitan statistical area (MSA) in which the tract is located. Categories are defined as follows: low or moderate, median family income for census tract less than 80 percent of median family income for MSA; middle income, median family income for census tract 80 percent to 119 percent of MSA median; upper income, median family income 120 percent or more of MSA median. 9. Applications for home loans missing race or ethnicity information, 1993-2003 Total home loan applications Missing Home purchase loan applications Year Total Percent Total Missing Percent 1993 13,618,477 1,027,218 7.5 4,508,448 199,772 4.4 1994 10,719,915 954,746 8.9 5,200,102 183,824 1995 9,955,171 1,037,202 10.4 5,484,332 1996 13,009,405 1,818,411 14.0 1997 14,330,133 2,525,962 1998 21,436,038 1999 Home purchase loans Total Missing Percent 3,187,693 102,777 3.2 3.5 3,539,531 87,721 2.5 200,087 3.6 3,495,749 101,790 2.9 6,306,937 286,663 4.5 3,806,337 135,320 3.6 17.6 6,748,794 415,011 6.1 3,955,104 191,821 4.8 4,289,640 20.0 7,949,787 724,626 9.1 4,549,997 302,606 6.7 19,905,868 4,452,654 22.4 8,426,010 845,851 10.0 4,849,772 407,983 8.4 2000 16,834,211 4,698,040 27.9 8,266,535 1,210,527 14.6 4,782,957 528,594 11.1 2001 23,821,375 7,074,462 29.7 7,672,299 1,377,297 18.0 4,932,839 637,902 12.9 2002 26,440,691 7,261,344 27.5 7,399,799 1,105,118 14.9 5,095,866 604,300 11.9 2003 34,322,045 5,872,941 17.1 8,154,140 958,798 11.8 5,574,752 531,441 9.5 What's New Press Releases About the FFIEC Press Releases Reports Federal Financial Institutions Examination Council For Immediate Release Press Release July 26, 2004 Reporting Forms Handbooks & Catalogues Enforcement Actions and Orders On-line Information Systems Other FFIEC Sites Examiner Education Office Appraisal Subcommittee HMDA CRA Financial Institution Call Report Data The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and thrifts. The regulations that implement the Community Reinvestment Act (CRA) require the reporting of data on these types of lending by independent commercial banks and savings associations having total assets of $250 million or more, and by commercial banks and savings associations of any size owned by a holding company having assets of $1 billion or more. Analysis of Call Report and Thrift Financial Report data indicates that reporting institutions account for about 91 percent of the number of small business loans and about 33 percent of the number of small farm loans extended by all commercial banks and savings associations. The 2003 CRA data reflect originations and purchases of small business, small farm, and community development loans from 2,103 institutions, including 1,635 commercial banks and 468 savings associations. (See attached fact sheet and related tables.) Approximately 8 million small business loans, totaling $279 billion, and approximately 289,000 small farm loans, totaling $17 billion, were reported for 2003. The number of small business loans reported in 2003 increased by 6 percent from 2002; the total dollar amount of these loans increased by about 10 percent from 2002 to 2003. The number of small farm loans reported in 2003 increased by 13 percent from 2002; the total dollar amount of these loans also increased by 7 percent. The small business and small farm lending data reported under the CRA regulations are more limited than the data reported on home mortgage lending under the Home Mortgage Disclosure Act (HMDA). The CRA data include information on loans originated or purchased, not on applications that are denied by the institution or withdrawn by the applicant. The CRA data are not reported on an application-by-application basis; rather, the CRA data are aggregated into three loan-size categories and then reported at the census tract level. About 38 percent of the small business loans reported for 2003 were extended to borrowers with revenues of $1 million or less, up from 31 percent in 2002, and down sharply from a high point of 60 percent in 1999. The decrease in the share of lending to small firms since 1999 is primarily the result of a substantial increase in reported lines of credit, renewals of such lines with larger limits, and credit card lending to larger firms. The proportion of small farm loans made to borrowers with revenues of $1 million or less in 2003 was 89 percent, about the same percentage as in 2002. The vast majority of reported small business loans (93 percent) and small farm loans (83 percent) extended in 2003 were for amounts under $100,000. Small business loans were heavily concentrated in central city and suburban areas, as are both the U.S. population and U.S. businesses. Small farm loans were heavily concentrated in rural areas. The variation in small business lending among census tracts grouped into income categories generally parallels the distribution of the population and businesses among these categories. In lower-income areas, most small business loans are made in central city census tracts; in higher-income areas, small business loans are most frequently made in suburban census tracts. Most small farm loans are made in rural areas regardless of area income. A comparison of small business lending activity in low-, moderate-, middle-, and upper-income areas in 2003 with 2002 shows that the areas' shares of the number and dollar amount of loans remained about the same. In 2003, commercial banks and savings associations reported community development loans that totaled approximately $42.3 billion. The dollar amount of community development loans increased by about 52 percent from 2002 to 2003. The number of these loans is larger than in 2002, up about 20 percent to 36,830. A community development loan has as its primary purpose affordable housing for lowor moderate-income individuals, community services targeted to these individuals, activities that promote economic development by financing small businesses or small farms, or activities that revitalize or stabilize low- or moderate-income neighborhoods. Under CRA regulations, retail institutions may not report community development loans as small business or small farm loans, or as home mortgage loans under HMDA (except for multifamily dwelling loans). The FFIEC has prepared a disclosure statement from the reported 2003 CRA data, in electronic form, for each reporting commercial bank and savings association. The FFIEC also has prepared aggregate disclosure statements of small business and small farm lending for each of the metropolitan statistical areas and each of the non-metropolitan counties in the United States and its territories, and has distributed these statements to central depositories throughout the nation where they are available for public inspection. The 2003 CRA data will be available on the FFIEC web site today (www.ffiec.gov/cra). An order form for CRA data and related items, with descriptions of the various reports and formats available, is attached to this release and is also available on the FFIEC web site. Central depository locations and an order form for other data available from the FFIEC (including data on home mortgage loans reported under HMDA) can be found on the FFIEC web site. Attachments: Fact Sheet on 2003 Data (with tables) (Note: Tables are in PDF) CRA Data Order Form and Item Descriptions (PDF) 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 What's New About the FFIEC Reports - Findings from Analysis of Nationwide Summary Statistics for 2003 Community Reinvestment Act Data Fact Sheet (July 2004) Reports The following analysis of nationwide summary statistics is based on data compiled by the Federal Financial Institutions Examination Council (FFIEC) for institutions reporting under the Community Reinvestment Act (CRA) regulations. Reporting Forms Background Handbooks & Catalogues The CRA is intended to encourage federally insured commercial banks and savings associations to help meet the credit needs of the local communities in which they are chartered. The CRA regulations require larger commercial banks and savings associations to report data on their small business, small farm, and community development lending. The institutions subject to these requirements generally include independent institutions with total assets of $250 million or more and institutions of any size if owned by a holding company that has assets of $1 billion or more. Under the CRA regulations, small business loans are loans of $1 million or less; small farm loans are loans of $500,000 or less. The small business and small farm lending data, when coupled with information reported about the geographic locations that constitute each reporting institution's local CRA assessment area(s), make it possible to better evaluate the performance of reporting institutions under the CRA lending test.1 Press Releases Enforcement Actions and Orders On-line Information Systems Other FFIEC Sites Examiner Education Office Appraisal Subcommittee HMDA CRA Financial Institution Call Report Data The small business and small farm lending data reported under the CRA regulations differ from the data reported on home mortgage lending under the Home Mortgage Disclosure Act (HMDA) in several respects. Unlike the HMDA data, the CRA data include information only on loans originated or purchased, not on applications that are denied by the institution or withdrawn by the applicant. In addition, the CRA data do not include information about applicant income, sex, or racial or ethnic background, although the CRA data do indicate whether a loan is extended to a borrower with annual revenues of $1 million or less. Finally, the CRA data are not reported application-by-application, as HMDA data are, but rather are aggregated into three loan-size categories and then reported at the census tract level. CRA data are a valuable tool for many different types of analyses. At the same time, the analysis of CRA data poses challenges. For example, lending institutions are asked to report the geographic location of the small business or small farm receiving the loan. However, the borrower may have used those funds to support business activities in other locations. Thus, assessment of the data may categorize a loan by the characteristics of the reported geography (typically a census tract) even though the funds are used to support the activities of a firm's offices in a location with different characteristics. While CRA data provide information on extensions of credit in a geographic area, they do not indicate the amount or nature of the overall demand for credit there. Caution should be used in drawing conclusions from analyses using only CRA data, as differences in local loan volume may reflect differences in local demand, among other things. Indeed, CRA performance assessments by the supervisory agencies focus on evaluating the volume and distribution of lending in the context of local credit needs. General Description of the 2003 CRA Data A total of 2,103 lenders reported data on small business and small farm lending in 2003, including 1,635 commercial banks and 468 savings associations (table 1). Most of the reporting institutions (75 percent) had assets under $1 billion, including 12 percent (256 institutions) that had assets under $250 million (derived from table 3) and are required to report data because they are owned by a holding company that has assets of $1 billion or more. Compared with 2002, the number of reporters has slightly increased (up 6 percent). Reporting institutions' small business and small farm lending is a significant portion of total small business and small farm lending by commercial banks and savings associations. Analysis of Call Report data on small loans to businesses and farms indicates that CRA reporters account for about 91 percent of the small business loans outstanding measured by number of loans (77 percent measured by dollars) and 33 percent of the small farm loans outstanding measured by number of loans (39 percent measured by dollars) extended by all commercial banks and savings associations (table 1). In the aggregate, about 8 million small business loans, totaling $279 billion, and about 289,000 small farm loans, totaling $17 billion, were reported having been originated or purchased in 2003 (table 2). Unlike home mortgage lending, a well developed secondary market for small business loans does not exist, and the CRA data reflect this.2 Most reported small business and small farm loans were originations; about 2 percent of the small business loans and less than 1 percent of the small farm loans were reported as purchases from another institution (derived from table 2). The CRA data provide information about the size of small business and small farm loans. For small business loans, the maximum loan size reported is $1 million; for small farm loans the maximum is $500,000. In 2003, the average small business loan was approximately $34,800, up slightly from $33,500 in 2002. The average small farm loan in 2003 was about $59,900, down from $63,300 in 2002 (derived from table 2). Measured by number of loans, 93 percent of the small business loans and 83 percent of the small farm loans were for amounts under $100,000 (table 2). Measured by dollars, the distribution differs: only 32 percent of the small business loan dollars and 36 percent of the small farm loan dollars were extended through loans of less than $100,000 (table 2). The CRA data include information on how many of the reported loans were extended to businesses or farms with revenues of $1 million or less. Such firms fall within generally accepted definitions of a small business, although somewhat larger firms are also often categorized as being a small business or small farm. For 2003, 38 percent of the reported small business loans and 89 percent of the small farm loans (measured by number of loans) were extended to firms with revenues of $1 million or less (table 2). The data also show that, on average, loans to firms with revenues under $1 million are larger than loans to larger firms. For example, for 2003, the average business loan to small firms was about $42,250 while the average loan to larger businesses was roughly $30,300 (derived from table 2). This relationship is contrary to expectations and to relationships found in years prior to 2000 when small business loans to small firms were on average about two-thirds the size of loans to larger firms. The change in the pattern reflects a substantial increase in the volume of credit card lending to larger businesses in the past few years. Such loans tend to be for relatively small amounts. Most of the reported small business loans (about 78 percent measured by number of loans and 92 percent measured by dollars) were either originated or purchased by commercial banks (data not shown). This preponderance of commercial banks in small business lending is consistent with data provided by other sources, including the Federal Reserve's 1987, 1993, and 1998 National Surveys of Small Business Finances, which show that commercial banks are the predominant source of credit for small businesses.3 Larger commercial banks and savings associations (those with assets of $1 billion or more) originated or purchased about 76 percent by dollars of the reported small business loans (table 3). These larger banks and savings associations represent a minority, however, of the institutions reporting such loans. No significant differences between commercial banks and savings associations were observed in this regard; larger institutions did the majority of small business lending within their institutional categories (data not shown). The overall pattern differs for small farm loans, where larger institutions accounted for less than half of the loans. These patterns are little changed from previous years. Reconciling the Numbers The 2003 CRA data show a large increase (about 170 percent) over the 2002 data in the total number of small business loans purchased, with nearly all of the increase occurring in loans of $100,000 or less (data not shown in tables). These changes appear to be primarily the consequence of the purchase of small business loan portfolios by two large commercial banks. The proportion of small business loans extended to smaller firms at 38 percent is down sharply from a high point of 60 percent in 1999, but up from 31 percent in 2002. The overall decline in the share of lending to small firms since 1999 is primarily a consequence of a substantial increase in reported lines of credit, renewals of such lines with larger limits, and credit card lending to larger firms. In addition, the decline reflects a change in the data collection practices of some banks that no longer request revenue-size information from business customers and as a result, no longer report which, if any, small business loans are to small firms. The Geographic Distribution of Small Business and Small Farm Lending The availability of information about the geographic location of businesses and farms receiving credit provides an opportunity to examine the distribution of small business and small farm lending across areas grouped by their socio-demographic and economic characteristics. Information on the distribution of businesses and population provide some context within which to view these distributions. CRA performance assessments include an analysis of the distribution of small business and small farm loans (of all types) across census tracts grouped into four neighborhood income categories: low-, moderate-, middle-, and upper-income.4 Overall, the distribution of the number and the dollar amounts of small business loans across these categories parallels the distribution of population and businesses across these four income groups (table 4.1 and table 4.2 ).5 For example, low-income areas include about 4.6 percent of the population and about 4.2 percent of the businesses, and received about 3.6 percent of the number and about 4.4 percent of the total dollar amount of small business loans.6 Low- and moderate-income areas' shares of the number and dollar amount of loans remained about the same in 2003 as in 2002. The same year-over-year pattern is observed for lending in middle- and upper-income areas. In the distribution of small business lending reported under the CRA across central city, suburban, and rural areas, small business loans are heavily concentrated in U.S. central city and suburban areas (about 83 percent of the number or dollar amount of all small business loans), as are the bulk of the U.S. population and the number of businesses (table 4.1 and table 4.2 ). In lower-income areas, most small business loans (about 86 percent) occur in central city census tracts; in higher-income areas, small business loans are most frequently made in suburban census tracts. Most small farm loans are made in rural areas regardless of area income (about 71 percent of the number of loans and 70 percent of the dollar amount of such lending) (table 4.3 and table 4.4). Community Development Lending In addition to information about small business and small farm lending, institutions covered by the CRA data-reporting requirements also disclose the number and dollar amount of their community development loans. Among the 2,103 institutions reporting in 2003, about 63 percent extended community development loans (derived from table 5 ). For 2003, institutions reported 36,830 community development loans totaling $42.3 billion (table 5 ). The total number of reported community development loans is higher than in 2002, up about 20 percent measured by number of loans and 52 percent by dollars. Rules allowing institutions to report renewals as additional loans may account for some of the increased lending, as may more aggressive outreach activities. However, part of the increase in lending is attributable to underreporting in previous years by several lenders. As in earlier years, on average, community development loans are much larger ($1.15 million) than the typical small business loan ($34,800) reported in the CRA data. Larger lenders (assets of $1 billion or more) extended the bulk of community development loans. Tables are in Portable Document Format (PDF). Footnotes 1.The regulations that implement the CRA provide three performance tests for large retail institutions: a lending test, an investment test, and a service test. The lending test focuses primarily on the geographic distribution of lending, considering the proportion of loans extended within the institution's local community and the distribution of these loans among different types of borrowers and neighborhoods. 2. The one exception is for small business loans guaranteed by the Small Business Administration. See "Report to Congress on Markets for Small Business and Commercial Mortgage Related Securities," Board of Governors of the Federal Reserve System and U.S. Securities and Exchange Commission (September 1996). 3.See Rebel A. Cole, John D. Wolken, and R. Louise Woodburn, "Bank and Nonbank Competition for Small Business Credit: Evidence from the 1987 and 1993 National Surveys of Business Finances," Federal Reserve Bulletin, vol. 82, no. 11 (November 1996), pp. 983-995; and Marianne P. Bitler, Alicia M. Robb, and John D. Wolken, "Financial Services Used by Small Businesses: Evidence from the 1998 Survey of Small Business Finances," Federal Reserve Bulletin, vol. 87, no. 4 (April 2001), pp. 183-206. 4.For purposes of the regulations, a low-income census tract has a median family income that is less than 50 percent of the median family income for the broader area (the metropolitan area containing the tract or the entire non-metropolitan area of the state); a moderate-income tract, 50 percent to less than 80 percent; a middle-income tract, 80 percent to less than 120 percent; and an upper-income tract, 120 percent or more. 5. Beginning with 1998 data, institutions filing CRA data were allowed to report that the census tract location of a firm or farm receiving a loan was unknown. For 2003, 4.9 percent of the reported small business loans by number and 1.2 percent by dollar amount included such a designation. 6. Data on the share of population across census tract income categories is derived from the 2000 Census of Population and Housing (most current available). Data on the share of businesses across census tract income categories is derived from information from Dun and Bradstreet files of businesses. Calculations exclude agricultural-related firms. 1. Small loans to businesses and farms, 1996-2003 Year 1996 Item 1997 1998 4 1999 20014 2000 2002 2003 Total business loans number ................................ 2,424,966 2,560,795 2,736,389 3,287,974 5,110,001 6,094,606 7,556,999 8,004,463 dollar (thousands of dollars) ................................ 149,718,193 159,401,302 161,211,231 174,538,571 179,056,204 224,914,485 253,225,288 278,612,596 Percent to small firms 1 by number ................................ 55.9 50.0 54.5 60.2 41.7 40.0 31.0 37.8 by dollars................................ 43.1 42.1 47.0 48.5 45.9 44.8 44.2 45.8 217,356 212,822 206,267 220,587 204,318 235,417 256,117 288,739 dollar (thousands of dollars) ................................ 10,480,989 11,192,400 11,373,691 12,302,881 11,634,880 14,330,467 16,222,070 17,297,590 Total farm loans number ................................ Percent to small farms 1 by number ................................ 88.4 89.5 90.4 90.6 90.2 90.0 88.5 88.8 by dollars................................ 81.4 81.3 83.0 83.7 83.8 83.6 83.0 83.0 by number of loans................................ 65.9 71.0 67.8 67.8 83.7 84.0 88.0 90.5 by amount of loans ................................ 67.5 69.4 69.4 72.4 75.6 75.0 76.9 77.1 by number of loans................................ 22.2 24.1 24.9 28.0 30.6 32.3 32.2 33.3 by amount of loans ................................ 27.9 28.4 30.1 34.1 37.5 38.2 38.1 38.5 3.7 1.2 1.9 1.0 .5 .4 .1 .1 100 to 249 ................................ 19.7 6.5 5.5 1.4 .8 13.8 .5 .4 250 to 999 ................................ 16.1 15.7 20.3 15.9 18.8 13.2 25.1 12.5 1,000 or more ................................ 60.6 76.6 72.3 81.8 79.8 72.6 74.3 86.9 100 100 100 100 100 100 100 100 less than 100................................ 1.6 1.4 0.8 1.0 .6 1.0 .4 .4 100 to 249 ................................ 5.7 3.5 3.2 2.2 2.0 2.7 1.6 1.5 250 to 999 ................................ 22.4 20.9 22.7 21.6 23.0 21.8 23.6 22.6 1,000 or more ................................ 70.3 74.2 73.3 75.2 74.4 74.5 74.4 75.6 100 100 100 100 100 100 100 Activity of CRA reporters as a percentage of2 All small loans to businesses All small loans to farms Distribution of business loans by asset size of lender by number of loans (percent) less than 100................................ Total ................................ by amount of loans (percent) Total ................................ 100 1. Continued Year Item 1996 1997 19984 1999 2000 20014 2002 2003 Distribution of farm loans by asset size of lender by number of loans (percent) 9.8 6.4 4.9 4.9 2.2 1.2 1.0 100 to 249 ...................................................................... 14.2 10.4 8.2 6.6 4.8 3.4 2.5 2.5 42.7 49.1 44.2 less than 100 ................................................................ 1.5 250 to 999 ...................................................................... 34.5 37.4 38.7 37.7 46.7 1,000 or more................................................................ 41.5 45.8 48.2 50.8 46.3 52.6 47.4 51.8 Total....................................................................... 100 100 100 100 100 100 100 100 6.4 5.1 3.5 4.0 1.7 .9 .7 1.2 2.8 2.3 2.4 by amount of loans (percent) less than 100 ................................................................ 100 to 249 ...................................................................... 11.5 8.2 6.6 5.6 4.0 250 to 999 ...................................................................... 31.7 34.2 36.0 36.3 42.7 38.8 43.2 44.6 1,000 or more................................................................ 52.5 53.9 54.1 51.5 57.5 53.8 51.8 100 100 100 100 Total....................................................................... 50.4 100 100 100 100 4.7 4.6 4.3 3.6 3.6 4.0 3.7 3.6 Distribution of business loans by income of census tract3 by number of loans low ................................................................................. moderate ........................................................................ 15.9 16.0 15.5 14.6 14.6 15.2 15.2 17.0 middle ............................................................................ 49.4 49.1 49.5 50.1 50.2 50.1 50.5 47.6 upper .............................................................................. 29.5 29.8 30.3 31.2 31.2 30.3 30.3 31.6 .4 .4 .2 100 100 100 income not reported ....................................................... .5 .5 .5 .4 .4 Total....................................................................... 100 100 100 100 100 by amount of loans 5.6 5.4 5.2 5.0 4.9 4.9 4.7 4.4 moderate ........................................................................ 16.0 16.0 15.7 15.5 15.4 15.2 15.2 17.9 middle ............................................................................ 46.8 46.5 46.8 47.1 47.6 47.6 47.9 45.4 upper .............................................................................. 30.9 31.4 31.6 31.7 31.5 31.7 31.7 31.9 .7 .7 .7 .5 .6 .6 .4 100 100 100 1635 low ................................................................................. income not reported ....................................................... .7 100 100 100 100 100 commercial banks .......................................................... 1583 1421 1576 1450 1471 1443 1495 475 290 461 470 469 491 468 1911 1941 1912 1986 2103 Total....................................................................... Memo: Number of reporters savings associations ....................................................... 496 Total....................................................................... 2079 1896 1866 1. Business and farms with revenues of $1 million or less. 2. Percentages reflect the ratio of activity by CRA reporters to activity by all lenders. Calculations based on information reported in the June Call Reports for commercial banks and the Thrift Financial Reports for savings associations. 3. low income: census tract median family income less than 50 percent of MA median family income or nonmetropolitan portion of state median family income; moderate income: 50-79 percent; middle income: 80-120 percent; upper income: 120 percent or more. Excludes loans where census tract or block number area was not reported. 4. Revised to reflect correction of reported data. Source: FFIEC 2. Originations and purchases of small loans to businesses and farms, by size of loan, 2003 MEMO Loans to firms with revenues of $1 million or less Size of loan (dollars) Type of borrower and loan All loans 100,000 or less Total 100,001 to 250,000 Percent Total Percent More than 250,000 Total Percent Total Percent Total Percent Number of Loans Business Originations Purchases Total 7,292,914 161,812 7,454,726 93.0 97.6 93.1 282,417 1,677 284,094 3.6 1.0 3.5 263,410 2,233 265,643 3.4 1.3 3.3 7,838,741 165,722 8,004,463 100 100 100 2,974,963 47,565 3,022,528 38.0 28.7 37.8 238,134 1,080 239,214 83.0 61.3 82.8 34,791 395 35,186 12.1 22.4 12.2 14,053 286 14,339 4.9 16.2 5.0 286,978 1,761 288,739 100 100 100 255,724 556 256,280 89.1 31.6 88.8 7,531,048 162,892 7,693,940 92.7 97.3 92.8 317,208 2,072 319,280 3.9 1.2 3.8 277,463 2,519 279,982 3.4 1.5 3.4 8,125,719 167,483 8,293,202 100 100 100 3,230,687 48,121 3,278,808 39.8 28.7 39.5 50.7 272,313,660 19.4 6,298,936 50.0 278,612,596 100 126,313,174 100 1,410,054 100 127,723,228 46.4 22.4 45.8 30.0 49.3 30.2 100 100 100 14,309,511 55,902 14,365,413 83.8 25.6 83.0 100 140,622,685 100 1,465,956 100 142,088,641 48.6 22.5 48.0 Farm Originations Purchases Total All Originations Purchases Total Amount of loans (thousands of dollars) Business Originations Purchases Total 84,954,912 4,811,538 89,766,450 31.2 76.4 32.2 49,343,910 262,290 49,606,200 6,149,487 42,896 6,192,383 36.0 19.7 35.8 5,811,988 67,650 5,879,638 91,104,399 4,854,434 95,958,833 31.5 74.5 32.4 55,155,898 329,940 55,485,838 18.1 138,014,838 4.2 1,225,108 17.8 139,239,946 Farm Originations Purchases Total 34.0 31.0 34.0 5,118,167 107,402 5,225,569 17,079,642 217,948 17,297,590 All Originations Purchases Total 19.1 143,133,005 5.1 1,332,510 18.8 144,465,515 49.5 289,393,302 20.4 6,516,884 48.8 295,910,186 3. Originations and purchases of small loans to businesses and farms, grouped by type of borrower and loan and distributed by size of lending institution, 2003 Institutions, by asset size (millions of dollars) Type of borrower and loan Less than 100 Total 100 to 249 Percent Total All institutions 250 to 999 Percent Total 1,000 or more Percent Total Percent Total Percent Number of loans Business Originations Purchases Total 11,417 0.1 35,510 0.5 1,001,225 12.8 6,790,589 86.6 7,838,741 243 0.1 235 0.1 2,655 1.6 162,589 98.1 165,722 100 100 11,660 0.1 35,745 0.4 1,003,880 12.5 6,953,178 86.9 8,004,463 100 4,334 1.5 7,105 2.5 127,292 44.4 148,247 51.7 286,978 100 5 0.3 5 0.3 433 24.6 1,318 74.8 1,761 100 4,339 1.5 7,110 2.5 127,725 44.2 149,565 51.8 288,739 100 15,751 0.2 42,615 0.5 1,128,517 13.9 6,938,836 85.4 8,125,719 100 248 0.1 240 0.1 3,088 1.8 163,907 97.9 167,483 100 15,999 0.2 42,855 0.5 1,131,605 13.6 7,102,743 85.6 8,293,202 100 22.8 205,056,068 75.3 272,313,660 100 11.2 86.6 6,298,936 100 22.6 210,509,008 75.6 278,612,596 100 51.6 17,079,642 100 65.5 217,948 100 Farm Originations Purchases Total All Originations Purchases Total Amount of loans (thousands of dollars) Business Originations Purchases Total 1,104,855 0.4 4,026,362 1.5 62,126,375 83,786 1.3 56,509 0.9 705,701 1,188,641 0.4 4,082,871 1.5 62,832,076 205,300 1.2 411,965 2.4 7,641,378 44.7 8,820,999 1,279 0.6 1,510 0.7 72,314 33.2 142,845 206,579 1.2 413,475 2.4 7,713,692 44.6 8,963,844 51.8 17,297,590 100 1,310,155 0.5 4,438,327 1.5 69,767,753 24.1 213,877,067 73.9 289,393,302 100 85,065 1.3 58,019 0.9 778,015 11.9 85.9 6,516,884 100 1,395,220 0.5 4,496,346 1.5 70,545,768 74.2 295,910,186 100 5,452,940 Farm Originations Purchases Total All Originations Purchases Total 5,595,785 23.8 219,472,852 MEMO Number of institutions reporting 99 157 1,322 525 2,103 Number of institutions extending loans 88 151 1,244 478 1,961 4.1. Number of small loans to businesses, grouped by neighborhood characteristics and distributed by amount of lending, 2003 MEMO Distribution of U.S. businesess and population (percent) Characteristics of neighborhood 100,000 or less Businesses Population MEMO Number of loans to firms with revenues of $1 million or less Number of loans, by size category (dollars) 100,001 to 250,000 More than 250,000 to 1 million MEMO MEMO MEMO Percent of Percent of Percent of Percent Percent Percent small small small business business business loans loans loans All Total MEMO Percent of Percent small business loans Total MEMO Percent of small business loans Location 35.6 44.7 19.6 100.0 92.1 93.4 92.7 92.8 36.2 46.7 17.1 100.0 4.0 3.3 4.2 3.7 39.2 41.3 19.5 100.0 3.9 3.3 3.0 3.5 41.5 43.6 14.9 100.0 2,783,010 3,530,391 1,302,790 7,616,191 100 100 100 100 0.0 0.0 100.0 100.0 99.3 5.2 93.1 --- 0.4 0.5 3.5 --- 0.3 0.4 388,272 100 4.9 106,804 27.5 3.3 - - - 8,004,463 100 - - - 3,022,528 37.8 3.7 0.5 0.1 4.2 3.9 0.5 0.1 4.6 90.8 92.3 90.6 91.0 3.0 0.4 0.1 3.5 4.4 3.7 5.4 4.4 3.7 0.4 0.1 4.2 4.7 4.0 4.0 4.6 4.2 0.5 0.1 4.8 236,692 31,115 4,579 272,386 100 100 100 100 3.1 0.4 0.1 3.6 79,584 10,508 2,007 92,099 33.6 33.8 43.8 33.8 Moderate (50 to 79) Central City Suburban Rural Total 10.1 6.1 2.5 18.6 11.1 6.9 2.5 20.5 91.8 93.3 92.9 92.4 9.3 5.7 1.9 16.9 4.1 3.3 4.1 3.8 10.4 5.1 2.1 17.6 4.1 3.4 3.0 3.7 11.2 719,668 5.5 432,284 1.6 143,943 18.3 1,295,895 100 100 100 100 9.4 5.7 1.9 17.0 257,702 154,896 64,583 477,181 35.8 35.8 44.9 36.8 Middle (80 to 119) Central City Suburban Rural Total 12.4 22.5 14.2 49.1 12.8 23.5 14.1 50.4 92.5 93.4 93.1 93.1 12.8 22.8 12.0 47.7 3.8 3.4 4.0 3.7 13.1 20.8 13.0 46.9 3.7 3.2 2.8 3.2 13.7 980,948 21.0 1,728,504 9.8 913,143 44.5 3,622,595 100 100 100 100 12.9 369,292 22.7 632,696 12.0 412,547 47.6 1,414,535 37.6 36.6 45.2 39.0 Upper (120 or more) Central City Suburban Rural Total 9.4 15.3 3.1 27.8 7.7 13.8 2.9 24.4 92.2 93.5 91.2 92.9 10.9 17.7 3.1 31.6 4.0 3.2 5.0 3.6 11.7 15.0 4.2 31.0 3.8 3.3 3.8 3.5 12.0 832,734 16.5 1,335,259 3.4 240,103 32.0 2,408,096 100 100 100 100 10.9 17.5 3.2 31.6 333,135 485,365 108,037 926,537 40.0 36.3 45.0 38.5 Income not reported Central City Suburban Rural Total 0.2 0.0 0.0 0.3 0.0 0.0 0.0 0.1 87.8 90.0 81.0 87.8 0.2 0.0 0.0 0.2 5.6 4.6 8.3 5.6 0.3 0.1 0.0 0.3 6.6 5.4 10.7 6.6 12,968 3,229 1,022 17,219 100 100 100 100 0.2 0.0 0.0 0.2 3,881 865 626 5,372 29.9 26.8 61.3 31.2 Subtotal 100.0 100.0 92.8 100.0 3.7 100.0 3.5 100.0 7,616,191 100 100.0 2,915,724 38.3 Tract not known Total 0.0 0.0 99.3 5.2 0.4 0.5 0.3 0.4 388,272 100 4.9 106,804 27.5 100.0 100.0 93.1 --- 3.5 --- 3.3 - - - 8,004,463 100 - - - 3,022,528 37.8 Central City Suburban Rural Subtotal 35.8 44.3 19.9 100.0 Tract not known Total Low (less than 50) Central City Suburban Rural Total 36.5 1,043,594 46.4 1,284,330 17.1 587,800 100.0 2,915,724 37.5 36.4 45.1 38.3 Area Income 0.3 0.1 0.0 0.4 Memo: Number of loans Subtotal Tracts not known Total Number of businesses (millions) Population (millions) 7.5 285.2 7,069,208 282,535 385,518 1,559 264,448 1,195 7,454,726 284,094 265,643 4.2. Amount of small loans to businesses, grouped by neighborhood characteristics and distributed by amount of lending, 2003 MEMO Amount of loans to firms with revenues of $1 million or less Amount of loans (thousands of dollars) 100,000 or less Characteristics of neighborhood Percent 100,001 to 250,000 MEMO Percent of small business loans Percent MEMO Percent of small business loans More than 250,000 to 1 million MEMO Percent of small Percent business loans All Total Percent MEMO Percent of small business loans Total MEMO Percent of small business loans Location Central City Suburban Rural Subtotal 29.8 32.2 35.3 31.7 37.7 44.1 18.1 100.0 17.7 17.1 20.6 17.9 39.6 41.6 18.8 100.0 52.5 50.7 44.1 50.3 41.9 43.8 14.3 100.0 110,551,430 119,864,182 44,947,652 275,363,264 100.0 100.0 100.0 100.0 40.1 43.5 16.3 100.0 48,529,116 52,251,271 25,801,459 126,581,846 43.9 43.6 57.4 46.0 Tract not known Total 72.1 32.2 2.6 --- 7.8 17.8 0.5 --- 20.1 50.0 0.5 --- 3,249,332 278,612,596 100.0 100.0 1.2 --- 1,141,382 127,723,228 35.1 45.8 26.9 29.7 31.3 27.3 3.3 0.4 0.1 3.8 17.4 16.2 22.1 17.4 3.8 0.4 0.1 4.3 55.7 54.1 46.6 55.4 4.3 0.5 0.1 4.9 10,747,973 1,244,810 193,238 12,186,021 100.0 100.0 100.0 100.0 3.9 0.5 0.1 4.4 4,051,658 441,925 104,356 4,597,939 37.7 35.5 54.0 37.7 29.0 31.5 35.7 30.4 9.7 5.4 2.0 17.1 17.8 16.9 20.4 17.8 10.6 5.1 2.0 17.7 53.1 51.6 43.9 51.7 11.2 5.6 1.6 18.4 29,339,701 14,934,355 4,904,063 49,178,119 100.0 100.0 100.0 100.0 10.7 5.4 1.8 17.9 11,913,911 6,034,606 2,717,823 20,666,340 40.6 40.4 55.4 42.0 30.4 32.2 36.7 32.8 12.8 21.4 12.6 46.9 17.6 17.6 20.5 18.3 13.1 20.7 12.5 46.4 52.0 50.2 42.8 48.9 13.8 21.0 9.3 44.1 36,770,284 58,133,362 30,137,430 125,041,076 100.0 100.0 100.0 100.0 13.4 21.1 10.9 45.4 16,610,081 25,746,921 17,137,426 59,494,428 45.2 44.3 56.9 47.6 31.0 32.5 30.9 31.8 11.7 16.9 3.4 31.9 17.8 16.6 21.1 17.5 11.8 15.3 4.1 31.2 51.2 50.9 48.0 50.7 12.2 16.7 3.3 32.2 32,911,415 45,387,266 9,615,699 87,914,380 100.0 100.0 100.0 100.0 12.0 16.5 3.5 31.9 15,737,508 19,992,172 5,799,502 41,529,182 47.8 44.0 60.3 47.2 Central City Suburban Rural Total 23.1 25.6 24.6 23.6 0.2 0.0 0.0 0.3 16.6 17.4 14.8 16.6 0.3 0.1 0.0 0.4 60.3 57.0 60.6 59.8 0.3 0.1 0.0 0.5 782,057 164,389 97,222 1,043,668 100.0 100.0 100.0 100.0 0.3 0.1 0.0 0.4 215,958 35,647 42,352 293,957 27.6 21.7 43.6 28.2 Subtotal 31.7 100.0 17.9 100.0 50.3 100.0 275,363,264 100.0 100.0 126,581,846 46.0 Tract not known Total 72.1 32.2 2.6 --- 7.8 17.8 0.5 --- 20.1 50.0 0.5 --- 3,249,332 278,612,596 100.0 100.0 1.2 --- 1,141,382 127,723,228 35.1 45.8 Area Income Low (less than 50) Central City Suburban Rural Total Moderate (50 to 79) Central City Suburban Rural Total Middle (80 to 119) Central City Suburban Rural Total Upper (120 or more) Central City Suburban Rural Total Income not reported Memo: Amount of loans Subtotal Tracts not known Total 87,422,685 49,353,142 2,343,765 253,058 138,587,437 652,509 89,766,450 49,606,200 139,239,946 4.3. Number of small loans to farms, grouped by neighborhood characteristics and distributed by amount of lending, 2003 MEMO Share of U.S. population (percent) Characteristics of neighborhood 100,000 or less Population MEMO Number of loans to farms with revenues of $1 million or less Number of loans, by size category (dollars) 100,001 to 250,000 More than 250,000 to 1 million MEMO MEMO MEMO Percent of Percent of Percent of Percent Percent Percent small small small farm farm farm loans loans loans All Total MEMO Percent of Percent small farm loans Total MEMO Percent of small farm loans Location Central City Suburban Rural Subtotal 35.6 44.7 19.6 100.0 82.3 81.6 83.0 82.7 8.2 20.5 71.3 100.0 Tract not known Total 0.0 93.8 1.8 100.0 82.8 --- Low (less than 50) Central City Suburban Rural Total 3.9 0.5 0.1 4.6 90.0 88.3 88.4 89.2 0.3 0.1 0.2 0.6 Moderate (50 to 79) Central City Suburban Rural Total 11.1 6.9 2.5 20.5 88.1 83.2 82.9 83.7 Middle (80 to 119) Central City Suburban Rural Total 12.8 23.5 14.1 50.4 Upper (120 or more) Central City Suburban Rural Total Income not reported Central City Suburban Rural Total 11.6 12.5 12.4 12.3 7.7 21.1 71.2 100.0 6.2 5.9 4.6 5.0 3.5 0.5 2.7 12.2 --- 5.0 5.2 4.8 9.8 6.8 0.1 0.0 0.2 0.3 4.8 6.9 1.8 3.9 1.4 2.1 5.8 9.3 6.5 10.6 12.0 10.9 0.7 1.8 5.7 8.1 81.1 80.9 83.1 82.6 4.0 15.2 59.4 78.6 13.0 13.2 12.4 12.6 7.7 13.8 2.9 24.4 80.3 83.7 82.5 82.4 2.4 3.2 5.8 11.5 0.0 0.0 0.0 0.1 81.8 91.7 100.0 86.5 Subtotal 100.0 82.7 Tract not known Total 0.0 93.8 1.8 100.0 82.8 --- 10.1 24.6 65.3 100.0 23,279 59,130 201,705 284,114 100 100 100 100 0.9 4,625 100 --- 288,739 100 0.3 0.1 0.1 0.4 827 145 553 1,525 100 100 100 100 5.4 6.2 5.1 5.4 1.4 2.5 6.0 9.9 3,698 5,787 16,565 26,050 4.3 16.6 59.4 80.4 5.9 5.9 4.5 4.9 4.9 18.5 53.3 76.6 12.7 10.6 12.4 12.0 2.6 2.7 5.9 11.2 7.0 5.7 5.1 5.7 0.0 0.0 0.0 0.0 9.1 8.3 0.0 8.1 0.0 0.0 0.0 0.0 100.0 12.3 8.2 20.8 71.0 100.0 19,623 50,398 182,638 252,659 84.3 85.2 90.5 88.9 1.6 3,621 78.3 --- 256,280 88.8 0.3 0.1 0.2 0.5 675 112 447 1,234 81.6 77.2 80.8 80.9 100 100 100 100 1.3 2.0 5.8 9.2 3,036 4,884 14,887 22,807 82.1 84.4 89.9 87.6 11,626 44,174 167,935 223,735 100 100 100 100 4.1 15.5 59.1 78.7 9,953 37,951 152,291 200,195 85.6 85.9 90.7 89.5 3.5 3.6 6.0 13.1 7,106 9,012 16,649 32,767 100 100 100 100 2.5 3.2 5.9 11.5 5,944 7,441 15,010 28,395 83.6 82.6 90.2 86.7 9.1 0.0 0.0 5.4 0.0 0.0 0.0 0.0 22 12 3 37 100 100 100 100 0.0 0.0 0.0 0.0 15 10 3 28 68.2 83.3 100.0 75.7 100.0 5.0 100.0 284,114 100 100.0 252,659 88.9 3.5 0.5 2.7 0.9 4,625 100 1.6 3,621 78.3 12.2 --- 5.0 --- 288,739 100 --- 256,280 88.8 Area Income Memo: Number of loans Subtotal Tracts not known Total Population (millions) 285.2 234,876 35,026 4,338 160 14,212 127 239,214 35,186 14,339 4.4. Amount of small loans to farms, grouped by neighborhood characteristics and distributed by amount of lending, 2003 MEMO Amount of loans to farms with revenues of $1 million or less Amount of loans (thousands of dollars) 100,000 or less Characteristics of neighborhood Percent 100,001 to 250,000 MEMO Percent of small farm loans Percent MEMO Percent of small farm loans More than 250,000 to 1 million MEMO Percent of small Percent farm loans All Total Percent MEMO Percent of small farm loans Total MEMO Percent of small farm loans Location Central City Suburban Rural Subtotal 29.0 31.6 37.9 35.8 6.6 19.1 74.3 100.0 33.1 33.7 34.3 34.0 8.0 21.5 70.6 100.0 37.9 34.7 27.8 30.1 10.3 24.9 64.8 100.0 1,407,899 3,721,247 12,059,621 17,188,767 100.0 100.0 100.0 100.0 8.2 21.6 70.2 100.0 1,044,518 2,813,633 10,418,214 14,276,365 74.2 75.6 86.4 83.1 Tract not known Total 31.3 35.8 0.5 --- 25.3 34.0 0.5 --- 43.4 30.2 0.9 --- 108,823 17,297,590 100.0 100.0 0.6 --- 89,048 14,365,413 81.8 83.0 24.2 21.3 52.3 35.1 0.1 0.0 0.2 0.4 25.2 17.0 34.4 27.9 0.1 0.0 0.1 0.3 50.6 61.7 13.3 37.0 0.3 0.1 0.1 0.5 30,836 7,038 25,101 62,975 100.0 100.0 100.0 100.0 0.2 0.0 0.1 0.4 18,875 3,469 20,777 43,121 61.2 49.3 82.8 68.5 29.2 28.6 35.8 33.4 0.8 1.6 5.8 8.1 25.1 31.1 33.3 31.9 0.7 1.8 5.6 8.2 45.7 40.3 30.9 34.6 1.5 2.7 5.9 10.0 165,985 341,879 991,175 1,499,039 100.0 100.0 100.0 100.0 1.0 2.0 5.8 8.7 109,197 239,029 844,612 1,192,838 65.8 69.9 85.2 79.6 29.7 32.4 38.3 36.6 3.5 15.1 62.2 80.8 35.3 34.2 34.4 34.4 4.4 16.8 58.9 80.1 35.0 33.4 27.3 29.0 4.9 18.5 52.8 76.3 732,708 2,868,834 10,010,794 13,612,336 100.0 100.0 100.0 100.0 4.3 16.7 58.2 79.2 555,656 2,216,848 8,671,443 11,443,947 75.8 77.3 86.6 84.1 28.1 29.4 36.5 32.7 2.2 2.4 6.1 10.7 33.0 32.9 33.5 33.3 2.7 2.8 5.9 11.4 38.9 37.7 30.0 34.0 3.6 3.7 6.0 13.2 476,847 503,118 1,032,330 2,012,295 100.0 100.0 100.0 100.0 2.8 2.9 6.0 11.7 360,053 353,961 881,161 1,595,175 75.5 70.4 85.4 79.3 17.9 49.7 100.0 32.1 0.0 0.0 0.0 0.0 19.7 50.3 0.0 23.1 0.0 0.0 0.0 0.0 62.4 0.0 0.0 44.8 0.0 0.0 0.0 0.0 1,523 378 221 2,122 100.0 100.0 100.0 100.0 0.0 0.0 0.0 0.0 737 326 221 1,284 48.4 86.2 100.0 60.5 Subtotal 35.8 100.0 34.0 100.0 30.1 100.0 17,188,767 100.0 100.0 14,276,365 83.1 Tract not known Total 31.3 35.8 0.5 --- 25.3 34.0 0.5 --- 43.4 30.2 0.9 --- 108,823 17,297,590 100.0 100.0 0.6 --- 89,048 14,365,413 81.8 83.0 Area Income Low (less than 50) Central City Suburban Rural Total Moderate (50 to 79) Central City Suburban Rural Total Middle (80 to 119) Central City Suburban Rural Total Upper (120 or more) Central City Suburban Rural Total Income not reported Central City Suburban Rural Total Memo: Amount of loans Subtotal Tracts not known Total 6,158,343 5,852,075 34,040 27,563 5,178,349 47,220 6,192,383 5,879,638 5,225,569 5. Community development lending, 2003 Number of loans Amount of loans (thousands of dollars) MEMO: CRA reporters Asset size of lender (millions of dollars) Total Percent Total Percent Number Percent Community development loans Number extending Percent extending Institution assets Less than 100 100 to 249 85 0.2 142,118 0.3 99 4.7 34 2.6 401 1.1 184,044 0.4 157 7.5 57 4.3 9,443 25.6 4,647,137 11.0 1,322 62.9 807 60.8 1000 or more 26,901 73.0 37,295,043 88.2 525 25.0 430 32.4 All 36,830 100.0 42,268,342 100.0 2,103 100.0 1,328 100.0 449 1.2 1,016,203 2.4 ... ... 27 2.0 250 to 999 MEMO: Lending by all affiliates FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL CRA/HMDA DATA ORDER FORM (PAYMENT INFORMATION) FFIEC AND FRB USE ONLY FFIEC Account/Order Number: _________________ Order Form Received at FRB: Order Shipped by FRB: Please Print Legibly CONTACT NAME: _____________________________________________________________________________ ORGANIZATION: ______________________________________________________________________________ ADDRESS: _____________________________________________________________________________________ CITY/STATE/ZIP: _______________________________________________________________________________ TELEPHONE: Check if: - - EXT. 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CRA Disclosure Statement (Item #402) Indicate year(s): ______, ______ (Specify Respondent ID selections in ascending order; use back of form if additional space is required.) Indicate Institution Name: Respondent/Agency ID and Zip Code: Institution Name: __________________________ /_/_/_/_/_/_/_/_/_/_/-/_/ Zip Code: /_/_/_/_/_/ Institution Name: __________________________ /_/_/_/_/_/_/_/_/_/_/-/_/ Zip Code: /_/_/_/_/_/ Note: Hardcopy item. Not available for years prior to 1996. Cost of hardcopy report by institution is $10 per year/institution. CRA Aggregate Report (Item #403) $ 10.00 $ $ 10.00 $ Indicate year(s): ______, ______ For MAs: _____, _____, _____, _____, _____, _____ For non-MA of state(s) (provide state abbreviation): _____, _____ Note: Hardcopy item. Not available for years prior to 1996. Cost of hardcopy report by MA is $10 per year/MA; by non-MA is $10 per year/state. CRA 1996 Export Data on CD-ROM (Item #404) Note: Electronic item. Only available for 1996 data; these export data are included on the Aggregate Reports and Disclosure Statements CD-ROM (Item #401) beginning with 1997 data. GRAND TOTAL/CRA ITEMS 2 $ July 2004 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL CRA DATA ORDER FORM ITEM DESCRIPTIONS • Unless otherwise specified, reports using CRA data are available beginning with 1996. CRA data generally become available by August of the year following the reporting year, and data through calendar year 2003 are now available. Please e-mail CRAHELP@FRB.GOV or view the Internet at www.ffiec.gov/cra or refer to the CRA Assistance Line at (202) 872-7584 for the latest release of these reports. • There is an additional charge for each year, MA/non-MA, and/or institution requested. • Charges for duplicate requests apply. CRA Aggregate Report: This report aggregates the business and farm lending information reported within an MA or statewide non-MA. For MA reports, enter the MA number for each MA desired in the space provided. For statewide non-MAs, enter the name of the state in the space provided. The statewide non-MA aggregate report is unique to CRA; it does not have a HMDA counterpart. This report aggregates the data for all counties in a selected state that are not part of an MA. The Aggregate Reports are distributed on hardcopy at a cost of $10 for each MA/nonMA/year requested. (Item #403) For an electronic version, see Item #401 below. For 1996 and years thereafter, data are available via the Internet at www.ffiec.gov/cra. CRA Disclosure Statement: The Disclosure Statement summarizes business and farm lending information from data that are prepared yearly by individual institutions. The Disclosure Statement is available in hardcopy at a cost of $10.00 for each institution/year requested. (Item #402) For an electronic version, see Item #401 below. For 1996 and years thereafter, data are available via the Internet at www.ffiec.gov/cra. CRA Aggregate and Disclosure Reports on CD-ROM: The Aggregate Reports (by MA and non-MAs) and individual institution Disclosure Statements are available on CD-ROM at a cost of $10.00 for the entire nation. (Item #401) The CRA Aggregate and Disclosure Software allows you to access reports at the MA, state, county, and institution (for disclosures only) level, print reports, and/or export the data for selected reports. Beginning with 1997, the three flat files described in the “1996 Export Data on CD-ROM” (Item #404) below are included on the Aggregate and Disclosure Reports CD-ROM at no additional cost. CRA 1996 Export Data on CD-ROM: The CD-ROM contains three flat files, which in combination, represent all the 1996 CRA Aggregate & Disclosure report data. This CD is best used for analyzing large portions of the CRA data. Detailed information regarding each of the three files is as follows: 1) TS.DAT contains all the transmittal sheet information for the CRA reporting institutions. (The information on this file is viewable but not exportable from the Aggregate & Disclosure CD.) 2) AGGR_ALL.DAT contains all the MA Aggregate report data. 3) DISC_ALL.DAT contains all the individual Disclosure Statement report data. The Transmittal Sheet file (TS.DAT) and CRA data files (AGGR_ALL.DAT and DISC_ALL.DAT) are ASCII files with fixed record lengths. NOTE: The file specifications for each of the individual Aggregate & Disclosure tables have been included in a write file on the CD-ROM. The CD-ROM (for 1996 only) is available at a cost of $10.00. (Item #404) 3 July 2004 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL CRA/HMDA DATA ORDER FORM (CENSUS DATA ITEMS) FFIEC AND FRB USE ONLY FFIEC Account/Order Number: ________ SELECTION LIST There is an additional charge for each year requested (see attached item descriptions) Census Data on CD-ROM (Item #303) QTY UNIT COST TOTAL $ 10.00 $ Indicate year(s): ______, ______ Note: Not available from FFIEC for years prior to 2001. GRAND TOTAL/CENSUS DATA ITEMS 4 $ July 2004 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL CENSUS DATA ORDER FORM ITEM DESCRIPTIONS • Unless otherwise specified, reports using Census data are available beginning with 1990. Census data generally become available in the second quarter of the current year, and data through calendar year 2003 are now available. Please e-mail HMDAHELP@FRB.GOV or view the Internet at www.ffiec.gov/hmda or refer to the HMDA Assistance Line at (202) 452-2016 for the latest release of these reports. • There is an additional charge for each year requested. Census Information and Census Data on CD-ROM: This is the nationwide census data used as input to HMDA and CRA processing. Data are distributed on CD-ROM. The CD-ROM, with software for the PC, contains the same data that was previously on the cartridge tape. It also includes printable reports and an option to export data to spreadsheet or text formats. The Census Tract Listing (Item #003), MA Median Family Income Listing (Item #004), Counties Located in Non-Metro Areas Listing (Item #004a), and Census--Geography Only (Item #105) can be produced from the CD-ROM. Those interested in data distributed on cartridge tape or CD-ROM for years prior to 2001 should contact the National Technical Information Service (NTIS) at www.NTIS.gov. For 1997 and years thereafter, census data are also available via the Internet (www.ffiec.gov/hmda). The charge for the CD-ROM is $10.00 (Item #303). 1990 census tracts and MA redefinitions were used for processing data for 2000 thru 2002; 2000 census tracts were used for processing data for 2003 and subsequent years. The census data distributed is consistent with the HMDA year specified. For example, if HMDA year 2001 is selected, 1990 census tract data with 2001 MA definitions are issued. 5 July 2004 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL CRA/HMDA DATA ORDER FORM (HMDA HARDCOPY ITEMS) FFIEC AND FRB USE ONLY FFIEC Account/Order Number: ________ SELECTION LIST There is an additional charge for each year/MA/institution requested (see attached item descriptions) QTY UNIT COST TOTAL $ 50.00 $ Disclosure Statement (Item #001) Data Type (see box on page 9): HMDA____, PMIC____ Indicate year(s): ______, ______ (Specify Respondent ID selections in ascending order; use back of form if additional space is required.) Indicate Institution Name: Respondent/Agency ID and Zip Code: Institution Name: __________________________ /_/_/_/_/_/_/_/_/_/_/-/_/ Zip Code: /_/_/_/_/_/ Institution Name: __________________________ /_/_/_/_/_/_/_/_/_/_/-/_/ Zip Code: /_/_/_/_/_/ Note: Only available for HMDA years 1990 – 1996 and PMIC years 1994 – 1996. Beginning with the release of calendar year 2004 data in 2005, the hardcopy report will no longer be available. Cost of hardcopy report by institution is $50 per year/institution. 6 July 2004 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL CRA/HMDA DATA ORDER FORM (HMDA ELECTRONIC ITEMS) FFIEC AND FRB USE ONLY FFIEC Account/Order Number: ________ SELECTION LIST There is an additional charge for each year requested (see attached item descriptions) QTY UNIT COST TOTAL $ $50.00 ____ LAR & TS Raw Data on CD-ROM (Item #102b) Indicate year(s): ______, ______, ______ Data Type (see box on page 9): HMDA____, PMIC____ Note: Not available from FFIEC for HMDA years prior to 2001. Not available for PMIC years prior to 1995. $ $150.00 (cartridge) ____ Reporter Panel (Item #103) Indicate year(s): ______, ______, ______ Data Type (see box on page 9): HMDA____, PMIC____ Select: __ Cartridge in __ EBCDIC or __ ASCII Note: All reporter panel data, except the reporter’s agency group code and parent information (where appropriate) are included on the LAR & TS Raw Data and the Aggregate & Disclosure (A&D) CD-ROMs for 1997 – 2002. Beginning with 2003 and years thereafter, all data on the cartridge tape will be included on the raw data and A&D CD-ROMs and the reporter panel cartridge tape product will not be available. Not available from the FFIEC for HMDA reporting years prior to 2001. $10.00 Aggregate and Disclosure Reports on CD-ROM (Item #302) $ Indicate year(s): ______, ______ Data Type (see box on page 9): HMDA____, PMIC____ Note: Not available from FFIEC for HMDA years prior to 2001. Not available for PMIC years prior to 1994. GRAND TOTAL/HMDA ELECTRONIC ITEMS 7 $ July 2004 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL CRA/HMDA DATA ORDER FORM (HMDA PREPARATION ITEMS) FFIEC AND FRB USE ONLY FFIEC Account/Order Number: ________ SELECTION LIST There is an additional charge for each year requested (see attached item descriptions) QTY UNIT COST TOTAL $ $ 5.00 A Guide to HMDA Reporting: Getting It Right! Indicate year(s): ______, ______, ______ Note: The most current edition dated January 1, 2004, is available in paper format (Item #010) or on the Internet at www.ffiec.gov/hmda. The 2003 edition is only available on the Internet. The 1998 edition used for calendar year 2002 data is available in paper format (Item #010) or on the Internet. GRAND TOTAL/HMDA PREPARATION ITEMS 8 $ July 2004 FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL HMDA 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 2003 are now available. Reports using census data and the HUD Median Family Income numbers become available earlier in the year. Please e-mail HMDAHELP@FRB.GOV or view the Internet at www.ffiec.gov/hmda or refer to the HMDA Assistance Line at (202) 452-2016 for the latest release of these reports. • There is an additional charge for each year, MA, and/or institution requested. • Charges for duplicate requests apply. Seven Private Mortgage Insurance Companies (PMIC) (formerly known as Mortgage Insurance Companies of America (MICA)) have a voluntary agreement with the FFIEC to compile and provide data on mortgage insurance applications. (Beginning in 1999, the number was reduced from eight to seven companies.) These data are available beginning with data for calendar years 1994 through 2003 (unless otherwise noted in the item description). The FFIEC makes the PMIC data available in products and formats similar to those for the HMDA data. The following items are available for PMIC data: Disclosure Statements (Item #001); Aggregate Reports (Item #002); the National Aggregate Report (Item #005); LAR & TS Raw Data (Item #102); Reporter Panel (Item #103); and Aggregate and Disclosure Reports on CD-ROM (Item #302). The data are collected annually, and charges do not differ from the FFIEC data. When ordering items, be sure to specify the data type. The FFIEC HMDA data include those institutions required to report HMDA under Regulation C, and the PMIC data include the mortgage insurers reporting private mortgage insurance data as agreed upon with the FFIEC. Aggregate and Disclosure Reports on CD-ROM: The Aggregate Reports and individual lender Disclosure Statements for each MA are available from the FFIEC on CD-ROM at a cost of $10 for years 2001 and forward only. (Item #302) For 1997 and years thereafter, Aggregate and Disclosure data are also available via the Internet at www.ffiec.gov/hmda. The Aggregate and Disclosure Reports on CD-ROM are also available from the FFIEC for PMIC data. These data are not available prior to 1994 (see above box). For 2000 and years thereafter, data are available via the Internet at www.ffiec.gov/hmda/online_rpts.htm. Aggregate Report: This report is sorted by MA. The report aggregates the mortgage and home improvement lending information within an MA, regardless of whether the institution has a home or branch office in that MA. It is in the same format as the disclosure statement; however, individual institution’s data cannot be identified. The Aggregate Reports are available from the FFIEC only on CD-ROM for years 2001 and forward at a cost of $10 for each MA requested (see Item #302). Those interested in the Aggregate Reports for years prior to 2001 should contact the National Technical Information Service at www.NTIS.gov. For 1997 and years thereafter, aggregate data are also available via the Internet at www.ffiec.gov/hmda. The Aggregate Reports are also available for PMIC data, however, they are not available prior to 1994 (see above box). Data on CD-ROM are available from the FFIEC for years 1994 and forward at a cost of $10. For 2000 and years thereafter, data are available via the Internet at www.ffiec.gov/hmda/online_rpts.htm. A Guide to HMDA Reporting: Getting It Right: The Guide was developed to assist those who prepare the HMDA report for their institutions. It also contains an executive summary for management officials that explains the responsibilities of institutions that are subject to HMDA. The Guide 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 MA, state, and county codes. Appendices include Regulation C: the Instructions for Completion of the HMDA-LAR; Form and Instructions of the Government Monitoring Information; and the Staff Commentary on Regulation C. The most recent edition of the HMDA Guide dated January 1, 2004 is available in paper format and via the web (www.ffiec.gov/hmda). This edition lists additional MSA/MD changes made by OMB in December 2003. An insert page was added to the paper copies of the 2004 HMDA Guide to reflect these changes. 9 July 2004 The 2003 edition of the HMDA Guide dated January 1, 2003 is available via the web (www.ffiec.gov/hmda). It contains minor differences from the 1998 edition and is to be used for collecting and processing calendar year 2003 data. The 1998 edition of the HMDA Guide is offered in paper format and on the Internet (www.ffiec.gov/hmda). A Guide Information Letter that highlighted the major changes for the 2002 processing year is on the FFIEC web site. If you must refile HMDA data for calendar year 2002, the 1998 edition along with the 2002 information letter should be used for guidance on collecting and reporting the data. Disclosure Statement: The Disclosure Statement summarizes mortgage and home improvement lending information from data that are prepared yearly by individual institutions. For 1996 and years thereafter, a supplemental report discloses data for property located outside of MAs in which the institution has a home or branch office. The Disclosure Statement is available from the FFIEC in hardcopy for years 1990 - 1996 at a cost of $50.00 (Item #001). (Beginning with the release of calendar year 2004 data in 2005, distribution on hardcopy will no longer be offered from the FFIEC.) The Disclosure Statement is also available from the FFIEC on CD-ROM for years 2001 and forward at a cost of $10 (Item #302). For 1997 and years thereafter, data are available via the Internet at www.ffiec.gov/hmda. The Disclosure Statements are also available for PMIC data, however, they are not available prior to 1994 (see box on page 9). Hardcopy reports are available from the FFIEC for years 1994 – 1999 at a cost of $50. The Disclosure Statement is also available from the FFIEC on CD-ROM for years 1994 and forward at a cost of $10 (Item #302). For 2000 and years thereafter, data are available via the Internet at www.ffiec.gov/hmda/online_rpts.htm. Loan Application Register (LAR) and Transmittal Sheet (TS) Raw Data on CD-ROM: 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 refinances) and home-improvement loans for each calendar year. The 2003 LAR data total over 41.6 million records and 8,121 TSs. The following should be noted: • Data are not certified as error free. • For reasons of privacy, the two date fields and loan application numbers are omitted from each record. • To form a unique identifier for an institution, 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. For additional information, review the file formats located under the Information tab on the CD-ROM. LAR and TS data are distributed from the FFIEC on CD-ROM at a cost of $50.00 for years 2001 and forward only (Item #102b). Those interested in this data distributed on cartridge tape or CD-ROM for years 1990 - 2000 should contact the National Technical Information Service (www.NTIS.gov). All Reporter Panel (Item #103) data, except the reporter’s agency group code and parent information (where appropriate) are included on the LAR & TS Raw Data CD-ROM for 1997 – 2002. Beginning with 2003 and years thereafter, all panel data on the cartridge tape will be included on the raw data CD-ROM, and the reporter panel cartridge tape product will not be available. The user has the ability to do the following: • Download the data contained on the compact discs to a file. • Search by MA, 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. These LAR and TS files are also available from the FFIEC for PMIC data beginning with 1995 (see box on page 9). 10 July 2004 National Aggregate Reports: These reports are a nationwide summation of the individual MA Aggregate Reports. They indicate the number and dollar amounts of lending, cross tabulated by loan, applicant, and geographic characteristics. For 1997 and years thereafter, data are available on the Internet at www.ffiec.gov/hmda. Those interested in this data distributed on cartridge tape or CD-ROM for years 1990 – 2000 should contact the National Technical Information Service (www.NTIS.gov). The National Aggregate Reports are also available from the FFIEC for PMIC data; however, they are not available prior to 1994 (see box on page 9). For 2000 and years thereafter, data are available via the Internet at www.ffiec.gov/hmda/online_rpts.htm. Reporter Panel: This is the universe of all institutions that reported under HMDA. The Reporter Panel information is taken from the database at the same time that the final aggregate and disclosure reports are prepared for the institutions, central depositories, and the public. From 1997 – 2002 all panel data except the reporter’s agency group code (other lender code) and parent information (where appropriate) were included on the LAR and TS Raw Data CD-ROM. Beginning with 2003 and years thereafter, the reporter panel product on cartridge tape is not available for purchase via the FFIEC Data Order Form. Instead, a fixed flat file (ReporterPanel.dat) that contains the panel data and additional information from the transmittal sheet is included on the LAR and TS Raw Data and Aggregate and Disclosure Reports CD-ROMs. For years 2001 and 2002, the HMDA reporter panel product is available from the FFIEC for $150. A format description is included with each order (Item #103). Those interested in the HMDA reporter panel information for years 1990 – 2000 should contact the National Technical Information Service (www.NTIS.gov). The majority of the PMIC Reporter Panel data are also available from the FFIEC for calendar years 1994 and thereafter. PMIC reporters do not report parent information or assets. All the necessary panel information has been included in a fixed flat file (PMICInfo.dat) on the PMIC TS and LAR Raw Data and Aggregate and Disclosure CD-ROMs since 1997. 11 July 2004
@FedFRASER