1996 HMDA Data Available

October 01, 1997

The Federal Financial Institutions Examination Council (FFIEC) has announced the availability of data on 1996 mortgage lending activity in metropolitan areas and released analyses of nationwide summary statistics regarding lending patterns. The data reflect lending activity for more than 9,300 institutions covered by the Home Mortgage Disclosure Act (HMDA) that reported data.

The 1996 data include a total of 14.8 million reported loans and applications, an increase of 32 percent from 1995. They show an overall increase in the number of both government-backed and conventional home purchase loans from 1995, with lending to lower-income households up somewhat more than lending to higher-income households. Taken together, government-backed and conventional home purchase lending to all racial and ethnic groups increased from 1995. Lending to Hispanics increased 13.4 percent; to Native Americans, 11.4; to Asians, 8.2 percent; to Whites, 8.1 percent; and to Blacks, 3.1 percent.

By comparison, from 1993 to 1996, government-backed and conventional home purchase loans rose 55.6 percent for Hispanics, 52.5 percent for Blacks, 26.6 percent for Native Americans, 15.3 percent for Asians and 14.0 percent for Whites.

For conventional home purchase loans, taken by themselves, the denial rates continue to vary among racial and ethnic groups. For conventional home purchase loans, the denial rates in 1996 were as follows: 50.2 percent for Native American applicants; 48.8 percent for Blacks; 34.4 percent for Hispanics; 24.1 percent for Whites; and 13.8 percent for Asians.

The disclosure statements underlying these and other summary statistics are now available for public inspection at central depositories throughout the nation. The disclosures include financial institutions' disclosure statements and aggregate data for each metropolitan statistical area (MSA). The location of the central depository for an MSA can be obtained by calling the FFIEC at (202) 634-6526. The FFIEC also makes HMDA data available in various formats including paper, magnetic tape, PC diskette and CD-ROM.

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Bridges is a regular review of regional community and economic development issues. Views expressed are not necessarily those of the St. Louis Fed or Federal Reserve System.

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