Top mortgage buyers ranked
|October 14, 2004|
Report finds loan activity highest in California
The Mortgage Bankers Association released a new mortgage market report that details the number and dollar amount of mortgage originations sold by type of purchaser. The new report, 2003 Mortgage Originations by Purchaser Type and State, breaks purchase originations into totals by all of the major players in the secondary market for each state.
On a national basis, Fannie Mae purchased 4.98 million loans (totaling $754 billion), compared with 2.95 million loans ($425 billion) by Freddie Mac, 721,000 loans ($88 billion) by Ginnie Mae, and 491,000 loans ($96 billion) by commercial banks. In 2003, California, the state with the largest mortgage market, had almost 2.6 million loans purchased, while Wyoming only had 21,000 purchase originations.
The mortgage market summary reports are based on mortgage lending transactions at more than 8,100 financial institutions covered by the Home Mortgage Disclosure Act (HMDA) in metropolitan statistical areas throughout the nation. Covering more than 34 million loans, the HMDA data aims to provide the most comprehensive source of mortgage originations.
Washington, D.C.-based Mortgage Bankers Association is a national association representing the real estate finance industry.
Source: Inman News