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
Date Written: November 1, 2015
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: Suggested Citation