Agencies release HMDA information for 2022

The Federal Financial Institutions Examination Council today launched the 2022 Home Mortgage Disclosure Act information on home loan financing deals at 4,460 banks, up from 4,338 organizations the previous year. The information includes 14.3 million mortgage applications. Among them, 11.5 million were closed-end loans and 2.5 million were open-end loans such as house equity credit lines. There were likewise 287,000 records that did not suggest loan type.

The share of home mortgages come from by non-depository, independent home loan business reduced in 2022, representing 60.2% of house-purchase loans compared to 63.9% in 2021, according to the report.

The share of closed-end home purchase loans made to Black debtors increased from 7.9% in 2021 to 8.1% in 2022, the report stated. The share made to Hispanic-White debtors reduced a little from 9.2% to 9.1%, and those made to Asian debtors increased from 7.1% to 7.6%. Black and Hispanic-White candidates experienced rejection rates of 16.4% and 11.1% respectively, while the rejection rates for Asian and non-Hispanic-White candidates were 9.2% and 5.8% respectively.


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