Monday, November 28 2022

The Federal Financial Institutions Examination Council (FFIEC) recently announcement the public availability of Home Mortgage Disclosure Act data for 2021. The CFPB has also issued a summary Datas. The data includes information on 23.8 million home loan applications, of which 21.1 million are identified as fixed-term loan applications. A total of 15 million applications resulted in loans.

Among other things, the data reflects the following:

  • The share of site-built, owner-occupied, and first-lien home purchase loans that were insured by the Federal Housing Administration fell from 19.4% in 2020 to 17.2% in 2021.

In March 2022, the FFIEC released amended 2021 loan/application records for each HMDA reporting institution. In its press release regarding the data, the CFPB notes that “HMDA data is generally not used alone to determine whether a lender is complying with fair lending laws. The data does not include some legitimate credit risk considerations for loan approval and pricing decisions. Therefore, when regulators conduct fair lending reviews, they analyze additional information before passing judgment on an institution’s compliance with fair lending laws.

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