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Illinois Is a Conforming State
Illinois in some respects is quite similar to the last state I profiled, New York. Like the Empire State, Illinois has a huge urban center (Chicago) similar to New York City and a lot of non-urban areas comparable to “upstate” New York. But there are significant differences in their Home Mortgage Disclosure Act profiles. A…
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New York Is the Home of the Million Dollar Jumbo
New York state had quite a high dollar volume of jumbo mortgages in 2015, Home Mortgage Disclosure Act data show. Of $80 billion in mortgage finance done in the Empire State (this analysis excludes mortgages purchased) during 2015, more than half went to jumbos. The $47 billion in jumbo lending was a hefty 58 percent…
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More Than Half a Million Texans Got Mortgages in 2015
More than half a million Texans received mortgages in 2015 for more than $122 billion in home finance, Home Mortgage Disclosure Act data show. Specifically, 557,000 residents of the Lone Star State got mortgages, with more than 100,000 going to Hispanics (purchased loans are excluded from this analysis). In total more than 31 percent of…
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Managing Resources in Fair Lending Part 2 – Mortgage Compliance Magazine
March 1, 2017 ComplianceTech’s Managing Director, Michael Taliefero, shares his thoughts on Managing Resources in Fair Lending in Mortgage Compliance Magazine. This is the second in a two part article. Use this link to read the article. http://www.mcmag-digital.com/mcmag/march_2017?pg=40#pg40
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Managing Resources in Fair Lending – Mortgage Compliance Magazine
ComplianceTech’s Managing Director, Michael Taliefero, shares his thoughts on Managing Resources in Fair Lending in Mortgage Compliance Magazine. Use this link to read the article. http://www.mortgagecompliancemagazine.com/fair-lending/managing-resources-fair-lending/
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HMDA’s Fun Facts for Credit Unions
Here are some fun facts to know and tell about credit unions as the Credit Union National Association holds its annual Governmental Affairs Conference in Washington, DC: -California is the state with the most credit union mortgage lending, according to LendingPatterns™. So a list of CU home loans by Congressional district would be top heavy…
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Florida Shows High Proportion of Hispanic Borrowers And Non-Owner Occupied Units in 2015 HMDA Data
Florida is a state with a considerable Hispanic population and a reputation as a valued source for investor real estate interest. Home Mortgage Disclosure Act data from LendingPatterns™ tend to back both of those characteristics. Nearly $14 billion of nearly $100 billion in 2015 mortgage volume in the Sunshine State went to Hispanics, 14 percent…
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Jumbo Mortgages More Than Half California 2015 Volume As the Average for All Loans Tops the Conforming Limit
More than half of mortgage dollars originated in California in 2015 were for more than the then-$417,000 conforming loan limit, according to Home Mortgage Disclosure Act data analyzed through LendingPatterns™. So many dollars went to jumbos, in fact, that they brought the average mortgage made in California in 2015 to more than the conforming limit.…
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Rural Mortgages Differ from Urban and Suburban Ones
I have always been interested in rural housing and mortgages, and LendingPatterns™ has a lot of good information on this small niche of the lending business. There is a category here for “FSA/RHS” which is a combination of two US Department of Agriculture lending programs—the Rural Housing Service and the Farm Services Agency. And you…
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VA Mortgages Hit $150 Billion
Department of Veterans Affairs mortgages hit $150 billion in 2015, up about 30 percent from the $115 billion of mortgages guaranteed in 2014. That’s right in line with the increase the nationwide mortgage market registered that year. Originations (excluding purchases) did not quite hit 50 percent in 2015, with $307 billion in applications for an…