The Housing Finance System

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A. Primary Housing Finance Market

A.1 Industry Structure and Performance
VariableEnd of 2016End of 2015End of 2014SourcesVar ID
Number of firms originating and funding mortgage loans 69137062
Board of Governors of the Federal Reserve System
A.1.1
Types of originating lenders/market share:A.1.2
Universal/ commercial banks 57.2% of total58.31% of total
Board of Governors of the Federal Reserve System
A.1.2.1
Other depository institutions (savings and loans/mutual savings and credit institutions) 28.51% of total28.09% of total
Board of Governors of the Federal Reserve System
A.1.2.2
Non-depository financial institutions specialized in housing finance 14.29% of total13.59% of total
Board of Governors of the Federal Reserve System
A.1.2.3
General non-depository financial institutions  Not available
 
A.1.2.4
Others (e.g. insurance co, pension funds, labor tax funds)  Not available
 
A.1.2.5
Identify the 3 largest loan originating lendersWellls Fargo, JP Morgan, Quicken LoansWells Fargo, JP Morgan, Quicken LoansWells Fargo, JP Morgan, Bank of America
Board of Governors of the Federal Reserve System
A.1.3
Are there (quasi) public mortgage lenders:  No
Country Editor
A.1.4
Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
as a % of # of loans  1.8%
Office of the Comptroller of the Currency
A.1.6.1
as a % of outstanding loan amount  9.47%
Mortgage Bankers Association
A.1.6.2
Average 1997-2007 A.1.7
Lowest decile of the income distribution served by the dominant mortgage lenders  1 decile
Federal Reserve Bank of New York
A.1.8
A.2 Size of Mortgage Finance Sector
VariableEnd of 2016End of 2015End of 2014SourcesVar ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:11,696,182 USD (millions)11,342,927 USD (millions)11,121,961 USD (millions)
Board of Governors of the Federal Reserve System
A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)62.98%62.89%63.94%
Board of Governors of the Federal Reserve System
A.2.1.1
and as % of all credits outstanding41%42%43%
Bank for International Settlements
A.2.1.2
Total # of home mortgage loans outstanding at the end of year  18,691,550 thousand
Board of Governors of the Federal Reserve System
A.2.2
Total amount of home mortgages made in calender year in millions of USD  1,869,200 USD (millions)
U.S. Department of Housing and Urban Development
A.2.3
and as % of GDP (current)   11.51%
Board of Governors of the Federal Reserve System
A.2.3.1
and as % of all credits originated in calender year  9.28%
Board of Governors of the Federal Reserve System
A.2.3.2
Total # of home mortgage originations made in calender year 7,404 thousand6,054 thousand
Board of Governors of the Federal Reserve System
A.2.4
What % of total new mortgages is refinance? 43.6%39.11%
Board of Governors of the Federal Reserve System
A.2.5
A.3 Housing Finance Products
VariableEnd of 2016End of 2015End of 2014SourcesVar ID
Mortgage products as % of all mortgages (approx.) in local currency:A.3.1
Fixed rate for life of loan  85.77%
Federal Housing Finance Agency
A.3.1.1
Variable rate/indexed  14.23%
Federal Housing Finance Agency
A.3.1.2
Loans based on foreign currency as % of all mortgage products  0%
Country Editor
A.3.2
Most prevalent type of foreign currency mortgage used:A.3.3
Most frequent interest rates on fully amortizing:A.3.4
10 year fixed rate mortgage  3.49%
U.S. Department of Housing and Urban Development
A.3.4.1
most common indexed ARM/10 year term  4.25%
Federal Housing Finance Agency
A.3.4.2
Most frequent rate on interest only 10 yr FRM  3.1%
Freddie Mac Weekly Primary Mortgage Market Survey
A.3.5
Typical lender fees associated with mortgage origination: A.3.6
as % of loan amount  1%
Freddie Mac Weekly Primary Mortgage Market Survey
A.3.6.2
Typical third party fees associated with mortgage origination:A.3.7
Appraisal fees  Not availableA.3.7.1
Title related fees  Not available
Board of Governors of the Federal Reserve System
A.3.7.2
Legal fees  Not availableA.3.7.3
Search fees  Not available
Board of Governors of the Federal Reserve System
A.3.7.4
Loan-to-Value (LTV) on first mortgage: A.3.8
Maximum LTV97%97%97%
Fannie Mae
A.3.8.1
Typical LTV at origination  70.00
Federal Housing Finance Agency
A.3.8.2
Maximum term over which pmt is calculated? 30 years30 years30 years
Fannie Mae
A.3.9
Mortgage pmt-to-income ratio A.3.10
Maximum pmt-to-income ratio (Individual income)  31%
VA, FHA
A.3.10.2
Typical pmt-to-income ratio (HH income)  Not available
Country Editor
A.3.10.3
Typical pmt-to-income ratio (Individual income)  25%
Ellie Mae
A.3.10.4
A.4 Lending and Servicing Process
VariableEnd of 2016End of 2015End of 2014SourcesVar ID
Does the mortgage industry use standard principles/guidelines for underwriting?YesYesYes
Country Editor
A.4.1
Which institutions define underwriting rules? A.4.2
Central Bank/Ministry of FinanceNoNoNo
Country Editor
A.4.2.1
Secondary market facilityYesYesYes
Country Editor
A.4.2.2
Major LenderNoNoNo
Country Editor
A.4.2.3
OtherYesYesYes
Consumer Financial Protection Bureau
A.4.2.4
Are loan originations conducted by others than employees of lenders?YesYesYes
Country Editor
A.4.3
Do third party servicing institutions exist?   Yes
Country Editor
A.4.5
% of loans serviced by originators/lenders  20%
Country Editor
A.4.6
A.5 Credit Risk Assessment
VariableEnd of 2016End of 2015End of 2014SourcesVar ID
Do credit bureaus exist? YesYesYes
FannieMae
A.5.2
Are there legal/regulatory constraints to gaining access to credit information?YesYesYes
Consumer Financial Protection Bureau
A.5.2.1
What percentage of mortgage originations use credit scoring?  99%
Fannie Mae
A.5.1
Is mortgage default insurance available?YesYesYes
Federal Reserve Bank
A.5.3
When did it begin operating?195719571957
Federal Housing Finance Agency
A.5.3.1
What is the typical MI product?Private MI typically covers the top 20 to 30 percent of the loan balance plus interest owed and foreclosure-related costs. The MI premium rate varies by mortgage type (fixed vs. adjustable rate), loan-to-value ratio, loan purpose (purchase vs. refinance), borrower credit score, and owner -occupied vs. rental property. MI typically is used where the down payment is less than 20%. Eligible properties are 1-4 family housing. Government MI (FHA) covers 100% of the loan and is subject to insurable loan limits. Private MI typically covers the top 20 to 30 percent of the loan balance plus interest owed and foreclosure-related costs. The MI premium rate varies by mortgage type (fixed vs. adjustable rate), loan-to-value ratio, loan purpose (purchase vs. refinance), borrower credit score, and owner -occupied vs. rental property. MI typically is used where the down payment is less than 20%. Eligible properties are 1-4 family housing. Government MI (FHA) covers 100% of the loan and is subject to insurable loan limits. Private MI typically covers the top 20 to 30 percent of the loan balance plus interest owed and foreclosure-related costs. The MI premium rate varies by mortgage type (fixed vs. adjustable rate), loan-to-value ratio, loan purpose (purchase vs. refinance), borrower credit score, and owner -occupied vs. rental property. MI typically is used where the down payment is less than 20%. Eligible properties are 1-4 family housing. Government MI (FHA) covers 100% of the loan and is subject to insurable loan limits. A.5.3.2
Number of private mortgage insurers  5
Federal Reserve Board of Governors
A.5.3.3
Are credit guarantee systems used?   Yes
Country Editor
A.5.4
Is there public sponsored MI / guarantee?YesYesYes
HUD
A.5.5
What % of the market does public MI / guarantee serve?  38%
Board of Governors of the Federal Reserve System
A.5.6
What share of total annual mortgage production is insured/guaranteed?   25.07%A.5.7
B. Funding Sources for Mortgages and the Secondary Mortgage Market
VariableEnd of 2016End of 2015End of 2014SourcesVar ID
What are the main funding sources for mortgages?B.1
Retail funding (deposits/other)secondary secondary
Deloitte
B.1.1
Wholesale funding: loans from other banks or corporationstertiary Non-applicable
Deloitte
B.1.2
Funding through mortgage bonds Non-applicableNon-applicableNon-applicable
 
B.1.3
Funding through securitization of mortgagesprimaryprimaryprimary
Deloitte
B.1.4
What % of Residential Mortgage Backed Securities is issued by centralized conduit or liquidity facility?   39.3%
Board of Governors of the Federal Reserve System
B.2
Who are the investors in RMBS?Market investors, institutional investors, depository institutions, GSEs, Federal Reserve Market investors, institutional investors, depository institutions, GSEs, Federal Reserve Market investors, institutional investors, depository institutions, GSEs, Federal Reserve
Board of Governors of the Federal Reserve System
B.3
What is the proportion of RMBS in the overall private securities market?  9.39%
Board of Governors of the Federal Reserve System
B.4
C. Housing Microfinance
VariableEnd of 2016End of 2015End of 2014SourcesVar ID
Types of lenders operating in the housing micro-finance (HMF) sector:C.2
Level of NPLs (>90 days past due) in HMFC.4
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Notes: 15 year FRM data is used
Notes: 15 year FRM data is used
Notes: 15 year FRM data is used
Notes: Binding if mortgages are sold to GSE
Notes: Both FannieMae & FreddieMac
Notes: Both FannieMae & FreddieMac
Notes: Both FannieMae & FreddieMac
Notes: Costs vary regionally
Notes: Federal Housing Authority Insurance
Notes: federal minimum wage is used; July 24 of each year is the annual cutoff.
Notes: federal minimum wage is used; July 24 of each year is the annual cutoff.
Notes: federal minimum wage is used; July 24 of each year is the annual cutoff.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FRM/total single-family loans
Notes: Median of a range from 263-444 USD
Notes: Mortgage interest deductibility is limited to $1 million size of loan. The proportion is very high and estimated at 80% by experts
Notes: National data
Notes: Not at the Federal level, but some states do
Notes: Section 8
Notes: Section 8
Notes: Section 8
Notes: Section 8
Notes: Section 8
Notes: Section 8
Notes: Section 8
Notes: Section 8
Notes: Section 8
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government
Notes: The total number of sales is used as the weight between new and existing housing
Notes: # of Mortgage-free owner occupied units is 24,225 divided by total number of owner occupied units = 76,091
Notes: $400 and up for buyer, $150-$500 for lender, varies by state
Notes: $400 and up for buyer, $150-$500 for lender, varies by state
Notes: 0.40%
Notes: 0.60%
Notes: 0.70%
Notes: 0.70%
Notes: 0.70%
Notes: 0.70%
Notes: 0.70%
Notes: 15 year FRM data is used
Notes: 15 year FRM data is used
Notes: 2011 data now includes Savings and Loans in this data set
Notes: 24% for conventional loans, 28% for FHA
Notes: 28% for conventional loans (Wells Fargo & Others), 31% for FHA loans, 41% for VA Loans
Notes: 36% for conventional through Fannie Mae/Freddie Mac, 31% for FHA, 41% for VA
Notes: 36% for conventional through Fannie Mae/Freddie Mac, 31% for FHA, 41% for VA
Notes: 80 per Square feet - The average construction cost of a single-family home in 2011 is $184,125. Average Home size: 2,311 square feet in 2011
Notes: 82 per Square feet - The average construction cost of a single-family home in 2009 is $222,511. Average Home size: 2,716 square feet in 2009
Notes: All those who itemize tax returns
Notes: Annual average was computed using the quarterly statistics
Notes: Approximation. Mostly big national lenders
Notes: Approximation. Mostly big national lenders
Notes: Approximation. Mostly big national lenders
Notes: Approximation. Mostly big national lenders
Notes: Approximation. Mostly big national lenders
Notes: Approximation. Mostly big national lenders
Notes: Approximation. Mostly big national lenders
Notes: ARM/total single-family loans
Notes: ARM/total single-family loans
Notes: ARM/total single-family loans
Notes: ARM/total single-family loans
Notes: ARM/total single-family loans
Notes: As a percentage of the outstanding loan balance. 30-60%
Notes: As a percentage of the outstanding loan balance. 30-60%
Notes: As a percentage of the outstanding loan balance. 30-60%
Notes: As a percentage of the outstanding loan balance. 30-60%
Notes: As a percentage of the outstanding loan balance. 30-60%
Notes: Bank prime loan rate
Notes: Base year
Notes: Binding if mortgages are sold to GSE
Notes: Binding if mortgages are sold to GSE
Notes: Binding if mortgages are sold to GSE
Notes: Binding if mortgages are sold to GSE
Notes: Binding if mortgages are sold to GSE
Notes: Binding if mortgages are sold to GSE
Notes: Binding if mortgages are sold to GSE
Notes: Both FannieMae & FreddieMac
Notes: Both FannieMae & FreddieMac
Notes: Both FannieMae & FreddieMac
Notes: Both FannieMae & FreddieMac
Notes: Both FannieMae & FreddieMac
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income (Metro District of Columbia)"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income (Metro District of Columbia)"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income (Metro District of Columbia)"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income"
Notes: By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income"
Notes: Consumer Financial Protection Bureau
Notes: conventional loans for owner-occupied home purchase by GSEs
Notes: conventional loans for owner-occupied home purchase by GSEs
Notes: conventional loans for owner-occupied home purchase by GSEs
Notes: conventional loans for owner-occupied home purchase by GSEs
Notes: conventional loans for owner-occupied home purchase by GSEs
Notes: conventional loans for owner-occupied home purchase by GSEs
Notes: Costs vary regionally
Notes: Costs vary regionally
Notes: Costs vary regionally
Notes: Costs vary regionally
Notes: End of Period
Notes: Fannie Mae, Freddie Mac, Ginnie Mae
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: Federal Housing Authority Insurance
Notes: federal minimum wage is used; July 24 of each year is the annual cutoff.
Notes: federal minimum wage is used; July 24 of each year is the annual cutoff.
Notes: federal minimum wage is used; July 24 of each year is the annual cutoff.
Notes: FHA & VA
Notes: FHA & VA
Notes: FHA & VA
Notes: FHA & VA
Notes: FHA & VA
Notes: FHA & VA
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FNMA, FreddieMac & GinnieMae are implicitly guaranteed by the federal government.
Notes: FRM/total single-family loans
Notes: FRM/total single-family loans
Notes: FRM/total single-family loans
Notes: FRM/total single-family loans
Notes: Housing Expense Ratio and Short-term Debt Obligations/the latter is most frequently applied and is calculated over debt/income of all signers of the note/It is not prescribed and lenders have flexibility
Notes: HUD
Notes: HUD
Notes: HUD
Notes: HUD
Notes: HUD
Notes: in number of loans
Notes: in number of loans
Notes: in number of loans
Notes: in number of loans
Notes: in number of loans
Notes: in number of loans
Notes: in number of loans
Notes: in number of loans
Notes: Includes public and private rental units
Notes: Median
Notes: Median in the range from 84-600 USD
Notes: Median in the range from 84-600 USD
Notes: Median is used (1800 square feet)
Notes: Median of a range from 263-444 USD
Notes: Median Price of New Homes Sold in the U.S.
Notes: Median Sale Price for New Houses Sold
Notes: Mortgage interest deductibility is limited to $1 million size of loan
Notes: Mortgage interest deductibility is limited to $1 million size of loan. The proportion is very high and estimated at 80% by experts
Notes: Mortgage interest deductibility is limited to $1 million size of loan. The proportion is very high and estimated at 80% by experts
Notes: Mortgage interest deductibility is limited to $1 million size of loan. The proportion is very high and estimated at 80% by experts
Notes: Mortgage interest deductibility is limited to $1 million size of loan. The proportion is very high and estimated at 80% by experts
Notes: Mortgage interest deductibility is limited to $1 million size of loan. The proportion is very high and estimated at 80% by experts
Notes: Mortgage interest deductibility is limited to $1 million size of loan. The proportion is very high and estimated at 80% by experts
Notes: National data
Notes: National data
Notes: National data
Notes: National data
Notes: National data
Notes: National data
Notes: National data
Notes: National data used
Notes: National data used
Notes: National figures are used
Notes: National figures are used
Notes: National figures are used
Notes: National figures are used
Notes: National figures are used
Notes: National figures are used
Notes: New + existing housing are weighted equally
Notes: New + existing housing are weighted equally
Notes: New + existing housing are weighted equally
Notes: New + existing housing are weighted equally
Notes: New + existing housing are weighted equally
Notes: New + existing housing are weighted equally
Notes: New + existing housing are weighted equally
Notes: no income limits; function of house price and income (at any level)
Notes: no income limits; function of house price and income (at any level)
Notes: no income limits; function of house price and income (at any level)
Notes: no income limits; function of house price and income (at any level)
Notes: no income limits; function of house price and income (at any level)
Notes: no income limits; function of house price and income (at any level)
Notes: no income limits; function of house price and income (at any level)
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: not at federal level, some states have it
Notes: Not at the Federal level, but some states do
Notes: Not at the Federal level, but some states do
Notes: Not at the Federal level, but some states do
Notes: Not at the Federal level, but some states do
Notes: Not at the Federal level, but some states do
Notes: Not at the Federal level, but some states do
Notes: Not at the Federal level, but some states do
Notes: Not at the Federal level, but some states do
Notes: Only at the state level
Notes: Only at the state level
Notes: Only at the state level
Notes: Only at the state level
Notes: Only at the state level
Notes: Only at the state level
Notes: Only at the state level
Notes: Only Credit Unions - Savings in 2011 were included in Universal Commercial Banks figure
Notes: p.3
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Quoted on investment basis
Notes: Range from 225-450
Notes: Range from 225-450
Notes: Section 8
Notes: some special programs
Notes: some special programs
Notes: some special programs
Notes: some special programs
Notes: some special programs
Notes: some special programs
Notes: some special programs
Notes: some special programs
Notes: some special programs
Notes: some states do
Notes: some states do
Notes: some states do
Notes: some states do
Notes: some states do
Notes: The cost of title services and title insurance varies by state. For example, a lender's policy on a $100,000 loan can range from $175 in one state to $900 in another. In some states, the price can even vary by county
Notes: The cost of title services and title insurance varies by state. For example, a lender's policy on a $100,000 loan can range from $175 in one state to $900 in another. In some states, the price can even vary by county
Notes: The cost of title services and title insurance varies by state. For example, a lender's policy on a $100,000 loan can range from $175 in one state to $900 in another. In some states, the price can even vary by county
Notes: The cost of title services and title insurance varies by state. For example, a lender's policy on a $100,000 loan can range from $175 in one state to $900 in another. In some states, the price can even vary by county
Notes: The cost of title services and title insurance varies by state. For example, a lender's policy on a $100,000 loan can range from $175 in one state to $900 in another. In some states, the price can even vary by county
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The Federal Home Loan Bank System is implicitly guaranteed by the federal government.
Notes: The state of Louisiana system is based on principles from France and Spain (civil law). State of California is based on common law but has codified it in a manner of civil law. California and a number of other Western states, however, have retained the concept of community property derived from civil law.
Notes: The total number of sales is used as the weight between new and existing housing
Notes: The total number of sales is used as the weight between new and existing housing
Notes: The total number of sales is used as the weight between new and existing housing
Notes: The total number of sales is used as the weight between new and existing housing
Notes: The total number of sales is used as the weight between new and existing housing
Notes: The total number of sales is used as the weight between new and existing housing
Notes: There was no AHS-Metropolitan Sample in the 2011 survey. Instead, a supplemental sample of housing units was selected for 29 metropolitan areas. This supplemental sample was combined with the National Sample in these areas in order to produce metropolitan estimates using the National survey.
Notes: This figure is a % of first-lien residential mortgages serviced by selected national and federal savings banks from the OCC Mortgage Metrics Report for the fourth quarter of 2011. All these mortgages comprise 60 percent of all mortgages outstanding in the United States
Notes: This figure is a % of first-lien residential mortgages serviced by selected national and federal savings banks from the OCC Mortgage Metrics Report for the fourth quarter of 2011. All these mortgages comprise 60 percent of all mortgages outstanding in the United States
Notes: This figure is a % of first-lien residential mortgages serviced by selected national and federal savings banks from the OCC Mortgage Metrics Report for the fourth quarter of 2011. All these mortgages comprise 60 percent of all mortgages outstanding in the United States
Notes: This figure is a % of first-lien residential mortgages serviced by selected national and federal savings banks from the OCC Mortgage Metrics Report for the fourth quarter of 2011. All these mortgages comprise 60 percent of all mortgages outstanding in the United States
Notes: This figure is for households in metropolitan areas as defined by the U.S. Census Bureau
Notes: U.S. Department of Housing and Urban Development By the U.S. Housing Affordability convention, the ratio computed here is "Median Price for Existing Single-Family" to "Median Family Income (Metro District of Columbia)"
Notes: VA
Notes: VA
Notes: VA
Notes: VA
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee
Notes: Veterans Authority guarantee