The 2014 Home Mortgage Disclosure Act Data

Federal Reserve Bulletin, Vol 101, No. 4, November 2015

43 Pages Posted: 31 May 2017 Last revised: 22 Oct 2017

See all articles by Neil Bhutta

Neil Bhutta

Board of Governors of the Federal Reserve System

Jack Popper

Board of Governors of the Federal Reserve System

Daniel Ringo

Board of Governors of the Federal Reserve System

Date Written: November 1, 2015

Abstract

This article documents patterns in residential mortgage lending through 2014 along a number of dimensions using data reported under the Home Mortgage Disclosure Act. After describing high level trends in mortgage lending by race, ethnicity and income through 2014, the article examines: (1) The effects of the new Ability-to-Repay and Qualified Mortgage rules on credit availability; (2) the effects of changes in the Home Ownership and Equity Protection Act (HOEPA); and (3) long-run trends in mortgage origination by banks and other depositories versus non-banks or non-depositories, documenting a sharp, widespread rise in the market share of independent non-banks.

Keywords: HMDA, mortgage, discrimination, Qualified Mortgage (QM), Ability to Repay Rule (ATR), large bank, nonbank, credit union, higher-priced mortgage, FHA, Community Reinvestment Act (CRA)

JEL Classification: G21, G23, G28

Suggested Citation

Bhutta, Neil and Popper, Jack and Ringo, Daniel, The 2014 Home Mortgage Disclosure Act Data (November 1, 2015). Federal Reserve Bulletin, Vol 101, No. 4, November 2015. Available at SSRN: https://ssrn.com/abstract=2975511

Neil Bhutta (Contact Author)

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Jack Popper

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Daniel Ringo

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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