Financial Update (January-March 2001)

Masthead

Cover Story

Fannie Mae and Freddie Mac

2001 Outlook

Economic Review Article

New Birmingham Building

New Consumer Protections

Board Appointments

Financial Literacy Conference

Updated Brochure

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
  1998 1999
  Applications
Received3
Loans
Originated
(%)
Applications
Denied
(%)
Nonbank
Applications
Denied (%)4
Applications
Received
Loans
Originated
(%)
Applications
Denied
(%)
Nonbank
Applications
Denied (%)4
Alabama Metro Areas
Low income tracts      236 44.5 41.9 59.7    278 59.0 35.6 59.4
Moderate income tracts   1,979 55.0 33.0 59.6 2,482 48.1 36.1 56.5
Lower middle income tracts   5,765 58.3 30.1 51.5 7,527 53.9 32.1 48.6
Upper middle income tracts   5,968 69.8 20.2 44.4 7,394 66.7 21.8 42.2
Upper income tracts   8,090 80.7 10.8 27.4 8,619 75.7 13.0 25.2
Tract income not available         8 25.0 50.0 81.7     37  2.0 27.0 67.9
Florida Metro Areas
Low income tracts   1,537 47.4 33.4 41.3   2,156 42.5 32.0 42.8
Moderate income tracts 20,926 57.1 25.5 35.0 25,191 56.1 25.5 31.8
Lower middle income tracts 48,005 64.1 20.8 30.0 58,434 61.9 21.1 26.2
Upper middle income tracts 47,338 70.9 15.5 23.0 57,436 68.1 16.2 19.6
Upper income tracts 63,636 75.6 11.5 14.6 70,988 73.3 11.9 13.1
Tract income not available       21 57.1 28.6 36.4       55 16.4 70.9 32.4
Georgia Metro Areas
Low income tracts   1,070 59.2 25.1 38.7   1,810 53.9 28.0 38.3
Moderate income tracts   5,041 65.7 22.5 39.8   6,803 62.6 22.9 38.9
Lower middle income tracts 13,745 74.7 14.9 31.7 17,779 70.4 17.7 30.6
Upper middle income tracts 13,540 77.1 13.1 25.9 16,841 73.8 14.6 27.5
Upper income tracts 29,325 84.1  7.4 14.8 32,178 81.0 17.4 14.5
Tract income not available
Louisiana Metro Areas
Low income tracts    681 51.0 34.8 51.5    788 45.3 37.6 43.8
Moderate income tracts 2,337 52.1 32.9 49.6 2,811 49.7 32.4 46.7
Lower middle income tracts 5,365 59.6 26.4 46.2 6,075 55.2 28.6 42.5
Upper middle income tracts 4,545 61.4 23.6 39.3 4,970 57.2 25.8 35.7
Upper income tracts 9,773 75.6 13.3 25.3 9,792 70.4 14.9 21.1
Tract income not available
Mississippi Metro Areas
Low income tracts    433 34.4 51.3 57.5    454 39.9 45.4 50.9
Moderate income tracts 1,268 50.1 36.8 56.0 1,331 52.7 32.8 58.8
Lower middle income tracts 3,182 49.1 35.1 52.8 3,553 53.0 32.0 48.7
Upper middle income tracts 3,483 52.6 33.5 54.3 4,007 54.4 31.1 50.3
Upper income tracts 3,858 76.3 12.4 32.7 4,179 74.3 13.4 49.6
Tract income not available
Tennessee Metro Areas
Low income tracts    227 54.6 23.3 34.8    340 40.6 36.5 51.4
Moderate income tracts 3,305 58.8 26.6 44.8 3,938 57.4 26.4 44.9
Lower middle income tracts 6,556 64.7 21.2 44.9 7,820 60.2 23.8 40.2
Upper middle income tracts 5,628 70.2 16.2 37.9 6,493 64.9 19.9 33.0
Upper income tracts 8,990 78.8  9.4 22.9 8,964 76.7 10.0 21.1
Tract income not available       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.