On June 29, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies. The Snapshot National Loan-Level Dataset contains the national HMDA datasets as of May 1, 2023. In March 2023, the FFIEC had made available Loan/Application Registers (LARs) for each HMDA filer of 2022 data, as well as a combined dataset for all filers, modified to protect borrower privacy.
Key observations about the 2022 HMDA data include the following:
- The number of reporting institutions increased from 4,338 to 4,460.
- The data includes information on 14.3 million home loan applications (11.5 million were closed-end and 2.5 million were open-end).
- The share of mortgages originated by independent mortgage companies has decreased from 63.9% in 2021 to 60.2% in 2022.
- In terms of borrower race and ethnicity, the share of closed-end home purchase loans made to Black or African American borrowers rose from 7.9% in 2021 to 8.1% in 2022, the share made to Hispanic borrowers decreased slightly from 9.2% to 9.1%, and those made to Asian borrowers increased from 7.1% to 7.6%.
- In 2022, Black or African American and Hispanic applicants experienced denial rates for home purchase loans of 16.4% and 11.1% respectively, while the denial rates for Asian and non-Hispanic White applicants were 9.2% and 5.8% respectively.
On the same date, the FFIEC also released several other data products to serve a variety of data end-users:
- The HMDA Dynamic National Loan-Level Dataset, which is updated weekly to reflect late submissions and resubmissions.
- Aggregate and Disclosure Reports, which provide summary information on individual financial institutions and geographies.
- The HMDA Data Browser, which allows users to create custom tables and download datasets that can be further analyzed.