2007 Home Mortgage Disclosure Act Data


Every year, the Federal Financial Institutions Examination Council (FFIEC) releases the latest Home Mortgage Disclosure Act (HMDA) data. HMDA requires banks and other lenders to record the race and other characteristics of loan applicants. This information can then be analyzed to find disparities and differences across borrowers, lenders and geographic regions. In 2007, both the number of applications and reported loans fell significantly. The number of conventional home purchase originations dropped 49% for blacks, 42% for whites and 53% for Latinos. The data continue to show wide gaps both for pricing and denial rates for African-Americans as well as other minorities; but in the context of the current banking crisis, minorities are a small part of the problem.

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