ComplianceTech releases unique findings from its web-based LendingPatterns™ application based on the 2016 Home Mortgage Disclosure Act (HMDA) data

Lenders by Regulatory Agency

I am proud that we are releasing our 13th year of HMDA data in LendingPatterns™. It is extremely comprehensive and able to highlight trends and address complex questions in the home mortgage lending industry.

ComplianceTech, McLean, VA-based fair lending, HMDA and CRA software analysis company, released unique insights from its web-based LendingPatterns™ application today at the Mortgage Bankers Association (MBA) Annual Convention in Denver, Colorado. These reports were made possible by last month’s public release of the 2016 Home Mortgage Disclosure Act (HMDA) data.

Lenders grouped by regulatory agency reported show Federal Deposit Insurance Corporation (FDIC) regulated banks to be the largest group of home mortgage lenders at 35.61%. This is followed by credit unions at 28.93%, independent mortgage companies at 13.18%, Office of the Comptroller of the Currency (OCC) regulated banks at 12.32%, Federal Reserve banks at 8.18% and lenders with over $10 Billion in assets at 1.79% (CFPB).

LendingPatterns™ shows independent mortgage companies reported nearly half of all 2016 HMDA reportable applications at 48.15%. It is important to note that the percentage could actually be higher because there are independent mortgage companies in the lender group with assets of $10 Billion (CFPB). There are also credit unions reporting HMDA with CFPB as the regulatory agency.

Geographically, LendingPatterns™ shows the top market for home purchase loans to be the Atlanta metropolitan statistical area (MSA), followed by the Chicago, New York, Houston and Phoenix MSAs.

In comparison, the top market for refinance loans is the Los Angeles MSA, followed by the Chicago, Washington, DC, Denver and…

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