This month’s data talk investigated newly released 2014 data from the Home Mortgage Disclosure Act (HMDA). HMDA data provides the most comprehensive look at mortgage origination from the preceding year, and it is accompanied by an analysis from the Federal Reserve Board of Governors. Neil Bhutta has been one of the lead authors of the analysis for the last several years and was our primary speaker. He first discussed how lending patterns have changed for different demographic groups over time. He also discussed the impact of the Ability to Repay Rule (ATR) and changes to rules under the Homeownership Equity Protection Act (HOEPA). Bhutta also explained the evolution of different lender types, including the expansion of the nonbank role, and focused on market share and mortgage and borrower characteristics. The other two presenters—CoreLogic’s Molly Boesel and the Urban Institute’s Bing Bai—discussed HMDA applications. Boesel introduced CoreLogic’s methodology for estimating mortgage origination (number of loans, dollar amount, and breakdown of refinances and purchases) with a much shorter lag than HMDA, with HMDA as the benchmark. Bai discussed the Urban Institute’s mapping of loan origination by race and ethnicity, using HMDA data.
Laurie Goodman, director, Housing Finance Policy Center, Urban Institute
Bing Bai, research associate, Urban Institute
Neil Bhutta, senior economist, Division of Research and Statistics, Federal Reserve Board of Governors
Molly Boesel, senior economist, CoreLogic
For inquiries regarding this event, please contact Alison Rincon at [email protected].