1. BCAC CONFERENCE October 26, 2010
2009 CT MORTGAGE MARKET
BCAC CONFERENCE
October 26, 2010

2. Fair Lending Analysis Depends on comparisons (treatment & outcomes)
Internal records to internal records
Internal outcomes to market facts
Fair Lending Analysis is not done in a vacuum. It is done in the context of other mortgage applications processed by your bank and your market’s demographics as local mortgage market. Comparisons are necessary to determine disparate treatment and disparate outcomes if any

3. 2009 CONNECTICUT MORTGAGE MARKET DATA
Mortgage market overview (reports & tables)
Minority & LMI borrowers
Volume
Origination rates
Denial rates
High Cost Mortgage Data
High Cost Mortgage Volume and incidence
High Cost disparities between minority/non-minority & LMI borrowers
What we will review today is the following market data – primarily minority mortgage market data and high cost mortgage market data

4. Review the basic reports and tables in the special market report prepared for BCAC

5. 2009 Overall Mortgage Market
Applications: 184,074
Lenders: 592
Originations: 113,213 (163,419 in 2006)

9. Mortgage Market Report 1 presents overall mortgage lending including market rank for all lenders. Also recaps lending to minorities and LMI borrowers

10. Report 1A and 1 B reviews High Cost mortgage lending in CT

21. Report 3B reviews denials and denial rates for each lender for minority and non-minority applications disaggregated for income class of borrower.

22. Tables review the minority mortgage market rank and penetration rates (as well as LMI borrowers)

37. HIGH COST MORTGAGE DATA
Very large decline in rate spread mtgs from 2007
392 lenders extended no rate spread mtgs
74 lenders made 10 or more
Only 6 lenders originated +100 high cost mtgs
2 CT based lenders originated +40 high cost mtgs