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Mortgage market conditions and borrower outcomes: evidence from the 2012 HMDA data and matched HMDA–credit record data


  • Neil Bhutta
  • Glenn B. Canner


This article describes mortgage lending activity in 2012 based on newly available data reported under the Home Mortgage Disclosure Act of 1975 (HMDA). In addition, we present the results of a first look at a new data set composed of HMDA records matched to borrowers' credit records. The matched data provide an opportunity to explore aspects of home lending that the HMDA data alone cannot address. In particular, we are able to compare borrowers’ credit characteristics (for example, credit scores) at loan origination, and subsequent payment performance, by various HMDA attributes such as income, minority status, and type of lender.

Suggested Citation

  • Neil Bhutta & Glenn B. Canner, 2013. "Mortgage market conditions and borrower outcomes: evidence from the 2012 HMDA data and matched HMDA–credit record data," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Sept.
  • Handle: RePEc:fip:fedgrb:y:2013:i:sept

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    Cited by:

    1. Patrick Bayer & Fernando Ferreira & Stephen L. Ross, 2014. "Race, Ethnicity and High Cost Mortgage Lending," Working papers 2014-36, University of Connecticut, Department of Economics.
    2. Courchane, Marsha & Darolia, Rajeev & Gailey, Adam, 2015. "Borrowers from a different shore: Asian outcomes in the U.S. mortgage market," Journal of Housing Economics, Elsevier, vol. 28(C), pages 76-90.
    3. Wix, Carlo & Schüwer, Ulrich, 2016. "Monetary Policy and Bank Lending: A Natural Experiment from the US Mortgage Market," Annual Conference 2016 (Augsburg): Demographic Change 145943, Verein für Socialpolitik / German Economic Association.
    4. Kim, You Suk & Laufer, Steven & Pence, Karen M. & Stanton, Richard & Wallace, Nancy, 2018. "Liquidity Crises in the Mortgage Market," Finance and Economics Discussion Series 2018-016, Board of Governors of the Federal Reserve System (U.S.), revised 01 Jun 2018.

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    Mortgages ; Home Mortgage Disclosure Act;


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