Lending institutions are require to report activity under “HMDA” this does not of course cover all activity within the market place, yet produces some interesting information to ponder
2005 you had 11,672,852 loan applications versus 7,382,012 loans received
or a 63% success rate for completing a loan
2011 you had 3,816,222 loan applications versus 2,416,874 loans received
or a 63% success rate for completing a loan
From 2005 to 2011 you have a drop of 67.3% in loan applications and a 67.25% drop in loans received
Using the information from Data Quick that shows home sales in 2012 up 14.6% from a year ago would mean 2,769,737 loan received and still showing a drop of 62.48% from the peak in 2005
So the thought to ponder ………….. the “HMDA” is not produced by a cheer leading group and neither is the Data Quick information
#1 does this information give understanding of why the federal reserve is buying 2/3rd”S of all mortgages created in the United State and we have historically low interest rates
#2 who is trying to fool whom into buying the swamp land of a housing “recovering”?
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