Financial Update (First Quarter 2006)


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Data Bank

HOME MORTGAGE DISCLOSURE ACT1
Aggregate Metropolitan Data on Conventional Home Purchase
Loan Applications by Census Tract Income Level2

2003 2004
Apps. Received3
Loans
Originated
(%)
Apps.
Denied
(%)
Nonbank4
Apps.
Denied
(%)
Apps. Received3
Loans
Originated
(%)
Apps.
Denied
(%)
Nonbank4
Apps.
Denied (%)
Alabama Metro Areas
Low income tracts 497 61.8 22.5 34.4 2,366 43.8 31.1 43.2
Moderate income tracts 3,674 67.5 18.4 28.9 18,459 49.8 26.2 38.2
Lower middle income tracts5 9,543 70.3 16.0 28.4 52,712 61.2 19.0 30.7
Upper middle income tracts 8,121 76.8 10.2 20.9
Upper income tracts 18,242 83.6 4.5 12.1 37,646 69.7 12.2 23.0
Tract income not available
Florida Metro Areas
Low income tracts 1,961 58.1 19.4 28.1 9,043 48.2 31.6 30.7
Moderate income tracts 32,474 65.5 16.1 18.2 124,001 55.3 25.2 25.9
Lower middle income tracts5 57,436 71.1 12.7 14.7 373,610 61.5 19.8 22.5
Upper middle income tracts 62,719 75.5 9.3 12.2
Upper income tracts 76,015 78.3 7.3 9.0 235,703 66.3 15.8 18.1
Tract income not available 221 81.4 13.6 11.5
Georgia Metro Areas
Low income tracts 3,830 52.3 20.4 29.6 10,212 51.6 28.5 32.8
Moderate income tracts 13,053 67.3 14.2 20.6 50,234 59.5 22.5 31.0
Lower middle income tracts5 18,383 73.0 11.2 15.4 142,537 63.8 18.3 27.6
Upper middle income tracts 18,316 74.9 9.8 13.0
Upper income tracts 30,793 80.5 6.3 9.4 94,886 71.3 12.7 20.2
Tract income not available 2 50.0 50.0 3 100.0 20.0
Louisiana Metro Areas
Low income tracts 1,014 63.4 19.2 27.1 4,589 50.1 33.1 37.2
Moderate income tracts 3,937 63.0 21.6 30.6 20,397 52.4 30.3 36.5
Lower middle income tracts5 7,058 66.6 19.0 29.0 56,921 60.8 22.8 31.4
Upper middle income tracts 6,786 73.1 14.1 23.7
Upper income tracts 15,206 79.8 8.1 14.6 45,171 68.2 15.8 24.2
Tract income not available 1 100.0 60.0
Mississippi Metro Areas
Low income tracts 219 54.8 30.6 44.8 847 44.7 37.4 40.0
Moderate income tracts 1,024 57.1 27.1 33.2 7,529 55.9 28.3 37.4
Lower middle income tracts5 2,839 64.7 18.7 32.0 26,230 64.0 19.6 29.4
Upper middle income tracts 3,941 73.2 13.0 26.4
Upper income tracts 5,844 80.5 6.8 17.5 18,411 72.7 12.8 24.1
Tract income not available 1 17 70.6 5.9 30.0
Tennessee Metro Areas
Low income tracts 1,054 59.4 22.8 41.6 4,137 46.6 34.7 38.4
Moderate income tract 5,697 66.4 16.9 34.1 25,456 56.0 26.6 36.0
Lower middle income tracts5 12,515 70.7 14.1 32.4 92,187 63.5 20.2 30.1
Upper middle income tracts 13,071 75.4 10.4 23.6
Upper income tracts 20,479 80.0 6.9 11.7 54,239 70.5 14.0 22.8
Tract income not available 2 2 50.0 75.0

Note: The 2000 Census of Population and Housing redefined the metropolitan statistical areas (MSAs) for the data reported in this table. The new definitions were used beginning with the 2004 data collection, so the 2003 data, based on the 1990 definitions, are not comparable to the 2004 data. For a more detailed explanation of the census revisions and the standards for defining metropolitan and micropolitan statistical areas, see the Federal Register article published by the Office of Management and Budget.

1 Access www.ffiec.gov/hmda for more Home Mortgage Disclosure Act data, including data on applicant characteristics.
2 Applications are those received by banks and their mortgage company subsidiaries. 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 and 2000 Censuses 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.
5 Beginning in 2004, the lower middle income and upper middle income tracts were combined into a middle income tract. Figures for 2004 are for this middle income tract.

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