New mortgage lending transaction data reported under the Home Mortgage Disclosure Act (HMDA) by 5,223 U.S. financial institutions is now available. The Federal Financial Institutions Examination Council (FFIEC) published the 2023 data from credit unions, banks, savings associations, and mortgage companies.
The Snapshot National Loan-Level Dataset contains the available national HMDA datasets as of May 1, 2024. Key observations on the 2023 data include:
- The number of reporting institutions in 2023 increased by about 14.6% from 4,460 in the previous year to 5,113;
- The 2023 data includes information on 10 million home loan applications, a decrease from the 14.3 million reported in 2022. Among them, 7.7 million were closed-end and 2.1 million were open-end; and
- The share of closed-end home purchase loans for first lien, one- to four-family, site-built, owner-occupied properties made to Black or African American borrowers rose slightly from 8.1% in 2022 to 8.2% in 2023. The share made to Hispanic-White borrowers increased from 9.1% to 9.9%, and the share made to Asian borrowers increased slightly from 7.6% to 7.7%.
The HMDA data is the most comprehensive source of publicly available information on mortgage market activity. It’s used to assess potential fair lending risks and for other regulatory and informational purposes.
