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2009 CT MORTGAGE MARKET

2009 CT MORTGAGE MARKET. BCAC CONFERENCE October 26, 2010. Fair Lending Analysis. Depends on comparisons (treatment & outcomes) Internal records to internal records Internal outcomes to market facts. 2009 CONNECTICUT MORTGAGE MARKET DATA. Mortgage market overview (reports & tables)

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2009 CT MORTGAGE MARKET

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  1. 2009 CT MORTGAGE MARKET BCAC CONFERENCE October 26, 2010

  2. Fair Lending Analysis • Depends on comparisons (treatment & outcomes) • Internal records to internal records • Internal outcomes to market facts

  3. 2009 CONNECTICUTMORTGAGE MARKET DATA • Mortgage market overview (reports & tables) • Minority & LMI borrowers • Volume • Origination rates • Denial rates • High Cost Mortgage Data • High Cost Mortgage Volume and incidence • High Cost disparities between minority/non-minority & LMI borrowers

  4. 2009 Overall Mortgage Market • Applications: 184,074 • Lenders: 592 • Originations: 113,213 (163,419 in 2006)

  5. HIGH COST MORTGAGE DATA • Very large decline in rate spread mtgs from 2007 • 392 lenders extended no rate spread mtgs • 74 lenders made 10 or more • Only 6 lenders originated +100 high cost mtgs • 2 CT based lenders originated +40 high cost mtgs

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