Richey May’s Data Analytics TYLER HOUSE TYLER@RICHEYMAY.COM
Data Analytics Dashboards • HMDA Market Share Dashboard • Loan Origination Trends (from NMLS aggregated data) • MBA’s Mortgage Finance Forecast Accessible on our website: http://www.richeymay.com/industries/mortgage-banking/data-analytics-and-benchmarking/
HMDA Data as a Business Intelligence Tool • The most comprehensive data set that captures loan level detail on nearly every mortgage loan application & origination, such as: • Originating Lender • Loan Product, Purpose, Amount • State, County, Metro Area & Census Tract • Borrower Income, Ethnicity-Race, Gender • Secondary Purchaser Type (GSE, Private Securitization, Correspondent, etc.) • Additional Loan Level Detail Coming in 2017 & 2018 • FICO Scores • Interest Rates • Origination Channel • Origination Fees, Points, Lender Credits
What Are Others Using the HMDA Data For? • Fair Lending • Market Share • Evaluating Current Market Share • Looking for New Markets to open branches or add counterparties • Looking for Potential M&A Partners With new requirements coming in 2017 & 2018 this data will add additional significant insights on market share and will add a serious competitive component to the data.
Let’s Demo our Dashboard for Market Share Perspectives http://www.richeymay.com/industries/mortgage-banking/data- analytics-and-benchmarking/ Please note: There is more data in the HMDA than is accessible in our dashboard—for simplicity’s sake, we have limited the data categories to include “core” mortgage products. In doing so. we look at only: Originated, 1 st Lien, 1-4 Family, Purchase/Refinance Mortgage Loans. We exclude: Non-1 st liens, Multifamily, Manufactured Housing, Non-Originated Applications (Apps that fallout) and Home Equity Loans (HELOCs).
Key Trends in 2015 HMDA Data • Total Volume: +33% (1.2 Trill to 1.6 Trill) • Avg. Loan Size: +7% (232k to 247k) • FHA Volume: +76% (132 B to 232 B) +56% • Refi Volume: (488 B to 764 B)
Market Share by Lender Type • Independents official capture the largest slice of the pie. YOY Change in Volume by Change in Lender Type Total Vol Independent Mortgage Co +43% Credit Union +36% Commercial Bank +25% Mortgage Co Owned or +24% Affiliated with Depository
Market Share by Lender Type • Independents also pass Banks in share of refinance volume. YOY Change in Volume by Change in Lender Type Refi Vol Independent Mortgage Co +71% Credit Union +54% Commercial Bank +44% Mortgage Co Owned or +53% Affiliated with Depository
Changes in HMDA Reports by Type • Independents: +28 lenders or +3.5% • Commercial banks: -145 lenders or -3.5% • Credit Unions: -16 lenders or -0.8% • Mortgage Co’s Affiliated/Owned by Banks: -6 lenders or -4.9%
Trends by State Top 10 States YOY Increase 2015 Tot Top 10 States YOY Increase YOY 2015 Avg Vol Change in Total Volume Vol ($ Mill) in Avg Loan Size Change Loan Size 1 Utah +47% 21,834 1 Nebraska +9% 163 2 Colorado +45% 57,032 2 Tennessee +8% 186 3 Oregon +44% 26,175 3 Kansas +8% 168 4 Nevada +42% 17,042 4 Louisiana +7% 186 5 Washington +42% 56,693 5 Iowa +7% 152 6 Idaho +41% 8,569 6 Wyoming +7% 226 7 Minnesota +39% 29,603 7 Arkansas +7% 154 8 Rhode Island +39% 4,720 8 Indiana +7% 153 9 California +39% 366,928 9 Kentucky +7% 158 10 Maryland +37% 41,579 10 Colorado +7% 268
Trends by State Top 10 States YOY Increase 2015 FHA Top 10 States YOY 2015 Refi Vol Change Vol Change in FHA Volume Vol ($ Mill) Increase in Refi Volume Vol ($ Mill) 1 Rhode Island +113% 936 1 Colorado +85% 27,346 2 Hawaii +110% 467 2 Utah +79% 9,670 3 Maryland +108% 8,531 3 Massachusetts +74% 24,319 4 Utah +107% 4,615 4 Minnesota +70% 13,117 5 Oregon +101% 3,240 5 Maryland +68% 21,142 6 New Jersey +101% 8,003 6 Rhode Island +68% 2,288 7 Delaware +100% 925 7 Washington +68% 26,012 8 Massachusetts +100% 4,709 8 New Jersey +67% 23,229 9 Washington +99% 6,871 9 Oregon +66% 11,361 10 California +97% 42,852 10 District Of Columbia +65% 3,677
Questions? • Tyler@richeymay.com • Please fill out our survey after the webinar!
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