Mortgage Lending During the Great Recession: HMDA 2009

While home purchase mortgage lending declined throughout the recession, new research released by the Furman Center finds that ending to low and moderate income homebuyers actually increased in 2009, as did the number of new mortgages backed by the Federal Housing Administration (FHA) and Veteran’s Administration (VA).  The new data brief, Mortgage Lending During the Great Recession: HMDA 2009, finds that 16 percent of the 2009 New York City home purchase mortgages were FHA/VA-backed loans. By comparison, those type of loans accounted for less than one percent of home mortgage loans issued from 2005 to 2007.