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The Federal Financial Institutions Examination Council released 2021 Home Mortgage Disclosure Act data for 4,338 U.S. financial institutions.
Key Data: The FFIEC said:
The number of reporting institutions declined by roughly 3.1% from 4,475 the previous year.
Among the 23.3 million reported home loan applications, 21.1 million were closed-end, 1.8 million were open-end, and 350,000 were not reported either way due to the S. 2155 regulatory relief law's partial exemptions.
The share of mortgages originated by non-depository, independent mortgage companies accounted for 63.9% of reported loans, up from 60.7%.
The share of closed-end loans to African American borrowers rose from 7.3% to 7.9%, the share to Hispanic-White borrowers increased from 9.1% to 9.2%, and those made to Asian borrowers increased from 5.5% to 7.1%.