Financial Update (First Quarter 2008)


Vol. 21, No. 1,
First Quarter 2008

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

2005 2006
Apps. Received3
Loans
Originated
(percent)
Apps.
Denied
(percent)
Nonbank4
Apps.
Denied
Apps. Received3
Loans
Originated
(percent)
Apps.
Denied
(percent)
Nonbank4
Apps.
Denied
Alabama Metro Areas
Low income tracts 2,526 37.4 39.0 36.5 2,513 44.6 36.8 35.1
Moderate income tracts 20,928 44.3 35.1 33.4 21,531 49.3 32.6 32.7
Middle income tracts 58,639 55.0 26.2 27.4 62,609 55.5 25.9 26.4
Upper income tracts 38,515 63.7 18.0 19.9 41,751 61.2 18.0 19.8
Florida Metro Areas
Low income tracts 12,661 48.5 30.9 28.0 14,414 48.6 30.8 32.0
Moderate income tracts 152,453 53.5 25.7 23.1 162,986 51.8 27.1 26.5
Middle income tracts 465,565 59.3 21.1 19.6 483,352 55.5 23.0 22.8
Upper income tracts 269,306 63.6 17.5 16.6 243,974 58.7 19.9 20.5
Georgia Metro Areas
Low income tracts 12,753 50.0 30.4 31.9 15,970 47.8 32.2 36.9
Moderate income tracts 60,580 53.4 27.7 27.9 67,761 51.5 28.9 29.5
Middle income tracts 170,851 57.7 23.8 24.4 190,267 54.9 25.4 25.6
Upper income tracts 111,744 66.3 16.1 18.1 123,960 61.7 18.1 20.1
Louisiana Metro Areas
Low income tracts 4,443 44.5 38.8 36.5 3,415 47.2 36.0 34.6
Moderate income tracts 19,856 47.4 34.3 34.9 17,928 48.5 34.2 30.2
Middle income tracts 55,584 56.5 25.7 29.0 55,217 56.0 25.9 25.6
Upper income tracts 45,195 64.3 17.8 22.6 45,370 62.5 19.2 19.2
Mississippi Metro Areas
Low income tracts 798 42.5 42.5 34.7 699 48.9 34.6 46.0
Moderate income tracts 6,894 54.6 29.9 34.9 6,589 55.2 29.3 38.0
Middle income tracts 23,482 60.5 22.4 28.5 24,739 60.2 22.7 29.0
Upper income tracts 17,156 68.0 15.3 23.3 17,661 64.9 16.9 25.3
Tennessee Metro Areas
Low income tracts 5,100 46.6 36.1 35.1 5,683 48.4 32.7 39.6
Moderate income tracts 58,993 53.2 29.1 31.5 32,005 54.0 27.6 34.0
Middle income tracts 105,071 60.3 22.3 26.2 111,904 57.9 23.3 27.3
Upper income tracts 57,708 66.8 16.4 20.4 61,997 63.1 17.6 21.4

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 2000 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 nor were 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.