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MORTGAGE MARKET STATISTICS SIXTH DISTRICT STATES  1949 and 1959  Research Department  Federal Reserve Bank of Atlanta  https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  October  I960  Atlanta, Georgia  CONTENTS Table  Page  I  Total Mortgage Debt Outstanding on Residential Properties Located Within District States by Type of Financial Inst­ itution Located Within District States  1  II  Total Residential Mortgage Debt Outstanding On Properties Located Within District States by Type of Mortgage  2  Mortgage Debt Outstanding of Insured Savings and Loan Associations - Sixth District States and U. S.  3  Outstanding Real Estate Loans of All Insured Commercial Banks - Sixth District States and U. S.  4  V  Non-Farm Mortgage Debt Outstanding of Insurance Companies Headquartered Within District States by Location of the Mortgaged Property  5  VI  Mortgage Debt Outstanding on Non-Farm Properties Located Within District States Held by Insurance Companies* Domiciled in District States by Type of Mortgage  6  Residential Mortgage Debt Outstanding Serviced by Mortgage Companies Located Within District States by Location of Financial Institution Owning the Mortgage  7  Residential Mortgage Debt Outstanding Serviced by Mortgage Companies Located Within District States by Type of Mortgage  8  IX  Percentage Distribution of the Number of Mortgage Loans Closed by Mortgage Companies Domiciled in District States Only After Having Received a Firm Commitment from Insti­ tutional Investors  9  X  Changes in Housing Units and Population - Sixth District States  10  III  IV  VII  VIII   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  w m  u a v.  1  Table I  Total Mortgage Debt Outstanding on Residential Properties Located Within District States by Type of Financial Institution Located Within District Statesi/ (Millions of Dollars) December 31 > 1959 Insured Insured Commercial Savings & Loan , Banked/ Associations-/ Amount %Dist. Amount %Dist.  Alabama Florida 2 Georgia Louisiana Mississippi. Tennessee Total 4  327.8 273.2 810.2 743.6 214.5 543.4 912.7  26 58 46 44 53 35 47  113.5 9 6 223.8 184.6 10 8 136.5 12 48.9 145.4 9 852.7 • 8  Insurance . Companies—/ Amount %Dist. 180.4 121.3 70.9 32.2 36.1 331.6 772.5  15 3 4 2 9 21 7  Mortgage Companies^/ Amount #)ist. 623.0 1 298.9 715.8 770.4 106.3 535.4 4 049.8  50 33 40 46 26 35 38  Total Amount %Dist.  1 3 1 1  244.7 917.2 781.5 682.7 405.8 1 555.8 10 587.7  100 100 100 100 100 100 100  December 31j 1^4^ Insured Insured Commercial Savings & Loan Associations^/ Banks 3/ Amount $Dist. Amount %Dist. Alabama Florida Georgia Louisiana Mississippi Tennessee Total  47.5 245.9 174.8 189.5 32.9 107.9 798-5  17 46 43 45 32 24 36  59.6 54.2 90.1 45.7 23.0 66.4 339.0  21 10 22 11 22 15 15  Insurance Companies^/ Amount %Dist. 53.9 33.0 10.6 10.7 19.0 131.0 258.2  19 6 3 3 19 29 12  Mortgage Companies 5/ Amount %Dist. 125.1 205.3 128.5 172.0 28.2 141.6 8OO.7  43 38 32 41 27 32 37  Total Amount %Dist.  286.1 538.4 4o4.o 417.9 103.1 446.9 2 196.4  100 100 100 100 100 100 100  1/ The combined total mortgage holdings of savings and loan associations and insurance companies include a small amount of nonresidential debt. 2/ Data compiled by the Federal Home Loan Bank Board - Savings and Home Financing Source Book. 3/ Data compiled by the Federal Deposit Insurance Corporation - Assets> Liabilities, and Capital Accounts - Commercial and Mutual Savings Banks. 4/ Based on reports published in The Spectator Insurance Year Book of the 20 largest life in­ surance companies in District states and selected on the basis of asset size. These companies account for about 90 percent of all assets of life insurance companies domiciled in District states. 5/ Based on a survey of mortgage companies conducted in August i960 by the Federal Reserve Bank of Atlanta, Only the mortgages serviced for financial institutions located outside District states were included in this total. If mortgages serviced for institutions located within District states had been Included, some double-counting may have occurred since a portion of the total may have been counted in the holdings of local insurance companies.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  2  Table II  Total Residential Mortgage Debt Outstanding On Properties Located Within District States By Type of Mortgage (Millions of Dollars) December 31 > 1959  FHA Amount %Dist.  Amount  Conventional Amount %Dlst.  VA %Dist.  Total iAmount %Dist  Alabama  374.2  30  310.0  25  560.5  U5  1 244.7  100  Florida  760.0  19  713.3  18  2 444.0  63  3 917.3  100  Georgia  441.0  25  379.1  21  961.4  5 1*  1 781.5  100  Louisiana  421.8  25  411.0  24  849.9  51  1 682.7  100  Mississippi  112.2  28  79.5  20  214.1  52  405.8  100  Tennessee  468.4  30  301.7  19  785.7  51  1 555.8  100  2 577.6  24  2 194.6  21  5 815.6  55  10 587.8  100  23 800.0 U. S. (1-4 Family Properties)  18  30 000.0  23  77 200.0  59  131 000.0  100  Total 6 States  For description of data see footnotes, Page 1   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Table III  3  Mortgage Debt Outstanding of Insured Savings and Loan Associations * Sixth District States and U.S. (Millions of Dollars) December 31f 1959  Total  Conv.  VA  Alabama  327.8  280.7  24.0  23.1  Florida  2 273.2  2 041.6  158.1  73.5  Georgia  810.2  677.2  92.8  40.3  Louisiana  743.6  670.4  50.8  22.4  Mississippi  214.5  139.7  42.0  32.9  Tennessee  543 .U  359.0  89.3  95.1  4 912.7  4 168.6  457.0  287.3  49 970.0  40 295.0  6 798.0  2 877.0  Total 6 States  U. S.  FHA  December 31 > 1949 .  VA  Total  Conv.  Alabama  47.5  38.8  6.2  2.4  Florida  245.9  186.5  44.5  14.8  Georgia  174.8  124.4  37.8  12.6  Louisiana  189.5  134.5  35.2  19.9  32.9  28.2  3.6  1.1  Tennessee  107.9  63.4  29.2  15.3  Total 6 States  798.5  575.8  156.5  66.1  9 037.5  6 380.0  2 064.5  593.0  Mississippi  U. S.  FHA.,.  * Parts may not add to totals due to rounding . Data compiled by the Federal Home Loan Bank Board - Savings and Home Financing Source Book.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  4  Table IV  Total  Outstanding Real Estate Loans Of All Insured Commercial Banks Sixth District States & U.S.* (Millions of Dollars) December 31, 1959 Residential Properties Farm Land Total FHA VA  Conv.  Other Properties  Alabama  191.7  29.5  113.5  14.7  5.2  93.6  48.7  Florida  427.0  26.3  223.8  41.7  18.2  l64.o  176.8  Georgia  305.0  46.3  184.6  15.5  4.5  164.5  74.2  Louisiana  261.1  26.0  136.5  20.5  4.6  111.4  98.6  Mississippi  117.7  34.5  48.9  4.3  1.1  43.4  34.3  Tennessee  274.8  55.3  145.4  11.8  7.4  126.3  74.1  1 577.3  217.8  852.7  108.5  41.0  703.2  506.7  28 031.4  1 570.8  20 246.7  6 112.5  3 152.8  10 981.5  6 213.8  Total 6 States*  U. S.  Total  December 312 1949 Residential Farm Land Properties  Other Properties  Alabama  90.3  14.3  59.6  16.4  Florida  87.8  6.5  54.2  27.1  Georgia  135.5  19.0  90.1  26.4  Louisiana  83.7  10.3  45.7  27.7  Mississippi  47.9  13.5  23.0  11.4  Tennessee  122.7  29.5  66.4  26.8  Total 6 States*  567.9  93-1  339.0  135.8  10 892.8  678.5  8 059.7  1 954.6  U. S. *   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Parts may not add to totals due to rounding. Data compiled by the Federal Deposit Insurance Corporation - Assets, Liabilities, and Capital Accounts - Commercial and Mutual Savings Banks.  5  Table V  Non-Farm Mortgage Debt Outstanding of Insurance Companies Headquartered Within District States By Location of the Mortgaged Property* (Millions of Dollars) December 31, 1959  Within Sixth District States  Outside District States  Total  Alabama  180.4  68.3  240.7  Florida  121.3  5.0  126.3  Georgia  70.9  21.7  92.6  Louisiana  32.2  64.2  96.4  Mississippi  36.1  9.9  46.0  Tennessee  331-6  338.4  670.0  Total  772.5  507.5  1 280.0  *  Based on reports published in The Spectator Insurance Year Book of the 20 largest life insurance companies in District states and selected on the basis of asset size. These companies account for about 90 percent of all assets of life insurance companies domiciled in District states.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  6  Table VI Mortgage Debt Outstanding Within District States Domiciled in District (Millions  TOTAL  on Non-Farm Properties Located Held by Insurance Companies States by Type of Mortgage* of Dollars)  Dec. 1959 FHA VA  CONV  Dec. 1949 TOTAL  Alabama  180.4  51.1  6.7  122.6  53.9  Florida  121.3  3^.3  4.5  82.5  33.0  Georgia  70.9  20.1  2.6  48.2  10.6  Louisiana  32.2  9.1  1.2  21.9  10.7  Mississippi  36.1  10.2  1.3  24.6  19.0  Tennessee  331.6  93.8  12.3  225.5  131.0  District  772.5  218.6  28.6  525.3  258.2  * Based on reports published in The Spectator Insurance Year Book of the 20 largest life insurance companies in District states. The data relating to mortgages by type were derived by applying the conventional, FHA, and VA proportions prevail­ ing in the nation to individual state debt totals.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  7  Table VII  Residential Mortgage Debt Outstanding Serviced By Mortgage Companies Located Within District States By Location Of Financial Institution Owning the Mortgage* (Millions of Dollars) December 31, 1959  Sixth District States  New York  Alabama  154  289  Florida  203  Georgia  All Other States  Total  103  231  777  649  410  240  1 502  182  300  184  153  899  Louisiana  60  359  125  207  831  Mississippi  77  53  31  23  184  Tennessee  136  275  149  111  671  Total  892  2 005  1 002  1 045  4 944  New England  * Based on data derived from a survey of mortgage bankers conducted in August i960 by the Federal Reserve Bank of Atlanta.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  8  Table VIII  Residential Mortgage Debt Outstanding Serviced By Mortgage Companies Located Within District States By Type of Mortgage* (Millions of Dollars) December 31, 3-959 FHA  VA  CONV  TOTAL  Alabama  356  342  79  777  Florida  738  655  189  1 582  Georgia  U57  348  94  899  Louisiana  4oi  381  49  831  Mississippi  113  60  11  184  Tennessee  335  244  92  671  2 398  2 029  514  4 941  Total  * Based on data derived from a survey of mortgage bankers conducted in August i960 by the Federal Reserve Bank of Atlanta.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  9  Table IX  Percentage Distribution of the Number of Mortgage Loans Closed by Mortgage Companies Domiciled in District States Only After Having Received a Firm Commit­ ment from Institutional Investors * Proportion of the total number of loans closed Only after institutional investors make a firm Percentage Distribution of Companies commitment to purchase _ ________________________ (Per cent)_______________________________ thejnortgage_____________Alabama Florida Georgia Louisiana Mississippi Tennessee Total  98-100  56  40  6l  52  43  23  46  90-97  22  15  18  13  -  27  18  70-89  22  17  8  4  -  11  12  50-69  -  4  5  9  29  8  6  0-49  -  24  8  22  28  31  18  Total  100  100  100  100  100  100  100  * Based on data derived from a survey of mortgage bankers conducted in August i960 by the Federal Reserve Bank of Atlanta.   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  10  Table X  1950  Changes in Housing Units and Population (Thousands) 1950-1960 Population?/ Housing Unit si/ Net Percent Net Change i960 Change i960 Change 1950  Percent Change  Alabama  844  972  128  +  15  3 062  3 246  184  +  6  Florida  952  1 858  906  +  95  2 771  4 886  2 115  +  76  Georgia  967  1 176  209  +  22  3 445  3 911  466  +  14  Louisiana  778  984  206  +  26  2 684  3 234  550  +  20  Mississippi  609  630  21  +  3  2 179  2 165  - 14  -  1  Tennessee  922  1 085  163  +  18  3 292  3 536  244  +  7  5 072  6 705  1 633  +  32  17 433  20 978  3 545  +  20  Total  1/  i960 Census of Housing:  Preliminary Reports- "Housing Unit Counts for Places of 10,000  Inhabitants or More"  2/  i960 Census of Population:   https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis  Preliminary Reports- "Population Counts for States"