Financial Update (January-March 2000)

Masthead

Cover Story

Technology Brings Regulatory Challenges

Golden Dollar

New $5s and $10s

New Law Expands Banks' Activities

DEPARTMENTS

Did You Know?

Data Bank

The Docket

Data Bank

Home Mortgage Disclosure Act1
Aggregate Metropolitan Data on Applications Received by
Banks and Their Mortgage Company Subsidiaries
Conventional Home Purchase Loan Applications by Census Tract Income Level2
  1997 1998
  Applications
Received3
Loans
Originated
(%)
Applications
Denied
(%)
Applications
Received
Loans
Originated
(%)
Applications
Denied
(%)
Nonbank
Applications
Denied (%)4
Alabama Metro Areas
Low income tracts    243 52.7 32.9    236 44.5 41.9 59.7
Moderate income tracts 2,003 50.5 37.1 1,979 55.0 33.0 59.6
Lower middle income tracts 6,064 54.7 33.3 5,765 58.3 30.1 51.5
Upper middle income tracts 5,907 66.1 23.3 5,968 69.8 20.2 44.4
Upper income tracts 7,593 80.0 11.2 8,090 80.7 10.8 27.4
Tract income not available       7 57.1 42.9       8 25.0 50.0 81.7
Florida Metro Areas
Low income tracts   1,362 51.7 28.9   1,537 47.4 33.4 41.3
Moderate income tracts 17,477 58.9 23.7 20,926 57.1 25.5 35.0
Lower middle income tracts 39,836 64.9 19.4 48,005 64.1 20.8 30.0
Upper middle income tracts 39,511 71.3 15.2 47,338 70.9 15.5 23.0
Upper income tracts 52,906 75.2 11.3 63,636 75.6 11.5 14.6
Tract income not available       11 27.3 27.3       21 57.1 28.6 36.4
Georgia Metro Areas
Low income tracts      949 55.5 30.3   1,070 59.2 25.1 38.7
Moderate income tracts   4,335 59.4 28.1   5,041 65.7 22.5 39.8
Lower middle income tracts 11,203 69.4 18.8 13,745 74.7 14.9 31.7
Upper middle income tracts 11,000 75.7 13.4 13,540 77.1 13.1 25.9
Upper income tracts 24,056 83.0 7.5 29,325 84.1 7.4 14.8
Tract income not available         0         0
Louisiana Metro Areas
Low income tracts    631 46.3 38.2    681 51.0 34.8 51.5
Moderate income tracts 2,360 52.6 31.7 2,337 52.1 32.9 49.6
Lower middle income tracts 4,785 60.5 25.1 5,365 59.6 26.4 46.2
Upper middle income tracts 3,870 64.1 21.7 4,545 61.4 23.6 39.3
Upper income tracts 8,948 76.9 11.2 9,773 75.6 13.3 25.3
Tract income not available       0       0
Mississippi Metro Areas
Low income tracts    440 40.5 43.0    433 34.4 51.3 57.5
Moderate income tracts 1,211 44.0 41.2 1,268 50.1 36.8 56.0
Lower middle income tracts 3,315 47.7 37.2 3,182 49.1 35.1 52.8
Upper middle income tracts 3,735 53.0 33.0 3,483 52.6 33.5 54.3
Upper income tracts 3,814 75.0 13.7 3,858 76.3 12.4 32.7
Tract income not available       0       0
Tennessee Metro Areas
Low income tracts    259 55.2 24.7    227 54.6 23.3 34.8
Moderate income tracts 3,156 61.0 25.6 3,305 58.8 26.6 44.8
Lower middle income tracts 6,437 63.2 22.9 6,556 64.7 21.2 44.9
Upper middle income tracts 5,392 71.6 16.9 5,628 70.2 16.2 37.9
Upper income tracts 8,947 79.4 9.7 8,990 78.8 9.4 22.9
Tract income not available       2 100.0       2 50.0 0.0 0.0
1 Access www.ffiec.gov/hmda for more Home Mortgage Disclosure Act data, including data on applicant characteristics.
2 Census tracts are categorized by the ratio of their median family incomes to the median family income of the metropolitan statistical area. Income data are based on the 1990 Census of Population and Housing, not on reported applicant characteristics. Census tracts are defined as follows: low income (<50% of metro median family income), moderate income (>50% and <80%), lower middle income (>80% and <100%), upper middle income (>100% and <120%), and upper income (>120%).
3 Applications that did not result in an origination and were not denied were cancelled by applicants through either nonacceptance, withdrawal or noncompletion of an application.
4 "Nonbanks" are thrifts, thrift mortgage subsidiaries, credit unions, credit union mortgage subsidiaries and independent mortgage companies.