Table 1. Applications and originations, 2004–16
Numbers of loans, in thousands, except as noted
Characteristic of loan
and of property
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
1–4 Family
Home purchase
Applications
1
9,804 11,685 10,929 7,609 5,060 4,217 3,848 3,650 4,023 4,586 4,679 5,181 5,693
Originations 6,437 7,391 6,740 4,663 3,139 2,793 2,547 2,430 2,742 3,139 3,248 3,662 4,046
First lien, owner occupied 4,789 4,964 4,429 3,454 2,628 2,455 2,218 2,073 2,343 2,703 2,815 3,200 3,545
Site-built, conventional 4,107 4,425 3,912 2,937 1,581 1,089 1,005 999 1,251 1,630 1,741 1,894 2,123
Site-built, nonconventional 553 411 386 394 951 1,302 1,151 1,019 1,033 1,007 1,006 1,230 1,340
FHA share (percent) 74.6 68.6 66.0 65.8 78.9 77.0 77.4 70.9 68.0 62.8 58.3 64.6 64.6
VA share (percent) 21.6 26.7 29.0 27.1 15.2 13.9 15.2 18.2 19.9 24.2 28.3 26.1 26.9
FSA/RHS share (percent) 3.9 4.7 5.0 7.1 5.9 9.0 7.4 10.9 12.0 13.1 13.3 9.4 8.5
Manufactured, conventional 106 100 101 95 68 43 44 40 44 51 51 56 59
Manufactured,
nonconventional 24 27 30 29 28 21 17 15 14 14 16 20 22
First lien, non-owner occupied 857 1,053 880 607 412 292 285 314 355 388 378 403 436
Junior lien, owner occupied 738 1,224 1,269 552 93 44 42 41 43 46 53 58 65
Junior lien, non-owner
occupied 53 150 162 50 6 2 2 1 1 1 2 2 2
Refinance
Applications 16,085 15,907 14,046 11,566 7,805 9,983 8,433 7,422 10,526 8,564 4,526 5,940 7,178
Originations 7,591 7,107 6,091 4,818 3,491 5,772 4,969 4,330 6,668 5,141 2,370 3,228 3,755
First lien, owner occupied 6,497 5,770 4,469 3,659 2,934 5,301 4,516 3,856 5,930 4,393 2,001 2,841 3,371
Site-built, conventional 6,115 5,541 4,287 3,407 2,363 4,264 3,835 3,315 4,971 3,634 1,608 2,152 2,527
Site-built, nonconventional 297 151 110 180 506 979 646 508 917 715 363 658 810
FHA share (percent) 68.3 77.3 87.5 91.5 92.2 83.7 79.3 63.2 61.2 61.2 47.6 59.5 49.4
VA share (percent) 31.4 22.4 12.3 8.3 7.6 15.9 20.3 35.9 37.8 37.6 51.9 40.3 50.3
FSA/RHS share (percent) .2 .3 .2 .1 .2 .4 .4 .9 .9 1.2 .5 .3 .4
Manufactured, conventional 77 70 60 56 42 36 25 25 31 32 22 21 20
Manufactured,
nonconventional 7 8 12 16 22 22 10 9 11 12 8 10 14
First lien, non-owner occupied 618 582 547 474 330 350 359 394 660 673 310 328 329
Junior lien, owner occupied 464 729 1,036 661 219 115 88 74 73 70 55 55 52
Junior lien, non-owner
occupied 13 25 39 23 9 7 6 5 5 5 4 4 3
Home improvement
Applications 2,200 2,544 2,481 2,218 1,413 832 670 675 779 833 846 921 1,005
Originations 964 1,096 1,140 958 573 390 341 335 382 425 411 474 537
Multifamily
2
Applications 61 58 52 54 43 26 26 35 47 51 46 52 50
Originations 48 45 40 41 31 19 19 27 37 40 35 41 40
Total applications 28,151 30,193 27,508 21,448 14,320 15,057 12,977 11,782 15,375 14,034 10,097 12,094 13,926
Total originations 15,040 15,638 14,011 10,480 7,234 8,974 7,876 7,122 9,828 8,744 6,064 7,404 8,378
Memo
Purchased loans 5,142 5,868 6,236 4,821 2,935 4,301 3,229 2,939 3,163 2,788 1,800 2,102 2,232
Requests for preapproval
3
1,068 1,260 1,175 1,065 735 559 445 429 474 474 496 531 530
Requests for preapproval that
were approved but not acted on 167 166 189 197 99 61 53 55 64 69 64 63 60
Requests for preapproval
that were denied 171 231 222 235 177 155 117 130 149 123 125 114 115
Note: Components may not sum to totals because of rounding. FHA is Federal Housing Administration; VA is U.S. Department of Veterans Affairs;
FSA is Farm Service Agency; RHS is Rural Housing Service.
1
Applications by year of action, as opposed to year of application submission. Applications include those withdrawn and those closed for
incompleteness.
2
A multifamily property consists of five or more units.
3
Consists of all requests for preapproval. Preapprovals are not related to a specific property and thus are distinct from applications.
Source: Here and in subsequent tables and figures, except as noted, Federal Financial Institutions Examination Council, data reported under the
Home Mortgage Disclosure Act (
www.ffiec.gov/hmda).
4 Federal Reserve Bulletin | November 2017