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FFIEC releases 2022 mortgage lending data
The Federal Financial Institutions Examination Council (FFIEC), which includes the NCUA, yesterday announced that mortgage lending data from 2022 is now available. That data encompasses transactions reported under the Home Mortgage Disclosure Act (HMDA) by nearly 4,500 financial institutions – including credit unions.
The announcement noted that the number of reporting institutions increased 2.63 percent. Additionally, the share of mortgages originated by non-depository, independent mortgage companies fell nearly 4 percent. The FFIEC also mentioned that the share of closed-end home purchase loans to Black or African American borrowers rose from 7.9 percent to 8.1 percent in 2022.
The council released additional data that credit unions can view.
Of note, NAFCU released a Regulatory Alert earlier this year that details the changes in HMDA reporting thresholds. The association will continue working with federal financial regulators to limit the regulatory burden on credit unions.