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HUD Archives: News Releases
SURVEY of MORTGAGE LENDING ACTIVITY
Second Quarter 1997The Department of Housing and Urban Development has announced that originations of
mortgages on 1-4 family homes totaled $192.7 billion in the second quarter of 1997,
down 8 percent from the same quarter in 1996.
Other Findings for the Second quarter 1997
Total mortgage loan repayments were $217.2 billion, down 12 percent from $246.0 billion repayments made during the Second quarter 1996.
Revisions were made to the following lender groups for the months indicated:
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IMPORTANT NOTE TO USERS OF THE SURVEY OF MORTGAGE LENDING ACTIVITY:
HUD is consistently striving to enhance the reliability and accuracy of this important survey. Towards this effort a competitive contract was awarded to improve the collection commercial bank and mutual savings bank mortgage transaction data. The successful vendor selected to perform this challenging and valuable work is the American Bankers Association (ABA). As a part of this improvement effort, the samples for the commercial banks and mutual savings banks have been re-drawn and new benchmark expansion weighting factors have been created. In some situations, the refined methodology has resulted in substantial revisions to the previously reported 1997 Third Quarter commercial bank data; and in a few cases, a significant shift in the level of activity has occurred compared to historical data.
Because the HUD survey includes mortgages held by banks and bank branches in U.S. possessions and territories but excludes real estate loans held by foreign banking offices in the U.S., the commercial bank and mutual savings bank holdings reported in the tables differ slightly from the comparable figures reported in the Federal Reserve Board's Federal Reserve Bulletin and Flow of Funds Accounts publications.
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The PUBLIC AFFAIRS BULLETIN BOARD at HUD has been discontinued.
Content Archived: January 20, 2009