2009 CT MORTGAGE MARKET

BCAC CONFERENCE

October 26, 2010

Fair Lending Analysis

• Depends on comparisons (treatment & outcomes)

• Internal records to internal records• Internal outcomes to market facts

2009 CONNECTICUTMORTGAGE 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

2009 Overall Mortgage Market

• Applications: 184,074 • Lenders: 592• Originations: 113,213 (163,419 in 2006)

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