Mortgage applications by race

Description

The Home Mortgage Disclosure Act (HMDA) requires most financial institutions to report data on the mortgage applications they receive. The act was intended to help regulators determine whether financial institutions were adequately serving different groups or areas.

The HMDA data shown here is filtered to display only home purchases (not refinances home improvement loans, or reverse mortgages), primary owner-occupied dwellings, and non-business loans. Very large incomes or loan amounts have been filtered out, although the user can further refine those ranges. The race of the borrower is based on data self-reported by the first person listed on the mortgage application, and does not reflect the race of any co-borrowers.

The status of the loan refers to the action taken by the mortgage lender. If the loan is originated, the mortgage loan was issued to the borrower. Loans denied were either denied during the preapproval or the application stage. Denial reasons vary, but the most common reasons for Vermont are excessively high debt to borrower income ratio, poor credit history, or collateral (meaning the value of the home does not support the loan and the borrower did not provide another means of backing it). Loans not originated for other reasons include incomplete applications, applications withdrawn by the borrower, or applications approved by the lender but not accepted by the borrower. 

Related Terms

Race
Mortgage

Related Pages on HousingData.org

Households by race
Owner/Renter rate by race

Need help displaying data? Click below or visit the Data guide to learn more.

Downloading data 

The Vermont Community Profiles are displayed using Tableau, a software that creates interactive data visualizations. These visualizations or "vizzes" are controlled by filters, allowing users to select only the information that interests them. Data can be downloaded for other uses using the Download button on the Tableau toolbar at the bottom of the page in the following download options:

Tableau download menu

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  • Powerpoint: Downloads a Powerpoint file containing the selected view as an image

     

Download troubleshooting:

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  • Sometimes when data is downloaded as a crosstab, Tableau will organize data from a graph or table in a different way than users might expect.   To get more usable downloads, choose the "Data" option in the download menu, which will open the view in a new browser window in a table with two tabs. Select the "Full data" tab. Then click the hyperlink that says "Download all rows as a text file". This will open a csv (comma separated value) file, which can be saved to your computer as an Excel workbook.
     
  • Tableau will only download data from the options selected in the filters. If you wish to download the entire data set, you must select "all" in every field. This may overload the visualization since the visualization does not have room to display the chosen data. However, you can still download the selected data in a table or crosstab, even if the visualization itself cannot display all those fields.
     
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