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Indicator
Metadata
Indicator
Conv. first-lien owner refinancing loans with high interest rates
Definition: High interest rate loans, one way of identifying subprime loans, have Annual Percentage Rates exceeding the comparable Treasury yield by 3 percentage points or more for first-liens. Conventional refers to a loan not insured by a government program, like FHA or VA.
Full Label: Number of conventional, first-lien refinancing mortgage originations for owner-occupied 1 to 4 family dwellings and manufactured homes with high interest rates
Source dataset: Home Mortgage Disclosure Act (Federal Financial Institutions Examination Council)
Available Years VS. Geo-Types :
  Census Tract Zip Code Place Metropolitan Area County State Nation
2004-2007 •   p • • • •
Legend : • - Full Data Coverage p - Partial Data Coverage
Quick Preview of Indicator - Washington, DC
Conv. first-lien owner refinancing loans with high interest rates(2007)
Top Ten States in USA
Rank Place see bottom ten
1   California 88,696
2   Florida 68,505
3   Illinois 39,404
4   Texas 36,158
5   Pennsylvania 31,138
6   Georgia 28,311
7   New York 28,197
8   Virginia 25,969
9   Maryland 24,291
10   New Jersey 23,827
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Dataset
Home Mortgage Disclosure Act (Federal Financial Institutions Examination Council)
Description: The Home Mortgage Disclosure Act (HMDA) requires most lending institutions to report mortgage loan applications, including the outcome of the application, information about the loan and applicant, and location of the property. In 2004, FFIEC expanded the data to include structure type, lien status, and if the loan had high interest rates. FFIEC collects the data in order to determine whether financial institutions are meeting a community’s housing credit needs; to target community development funds to attract private investment; and to identify possible discriminatory lending patterns. The reporting requirements are based on the level of institutional assets and the number of loans originated in metro areas. In DataPlace, the loan-level data are summarized for various geographic levels into indicators on the racial and income distribution of borrowers, denial rates by race and income, and loans from subprime lenders by race. For more information about HMDA, visit http://www.ffiec.gov/hmda
Originator: Federal Financial Institutions Examination Council
Publication Date: August 31, 2008
Time Period of Content: December 31, 2006 to December 30, 2007
Bounds:
West
East
North
South
Display in FGDC format
Display all indicators associated with this dataset (1158)