2009 CT MORTGAGE MARKET
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Transcript of 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 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
2009 Overall Mortgage Market
• Applications: 184,074 • Lenders: 592• Originations: 113,213 (163,419 in 2006)
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