A summary of data for last year collected as required by the Home Mortgage Disclosure Act shows that a bigger share of loans went to black and low-income borrowers as non-banks did more of the lending.

Last year, there were 5,852 banks, savings associations, credit unions and non-bank mortgage companies that reported HMDA data, 13 percent fewer than in the preceding year.

The decline was attributed to changes in Regulation C requiring HMDA collection and reporting from depository institutions only if they originated 25 or more purchase-money loans or refinances of purchase mortgages in each of the two preceding years.


Source: Mortgage Daily