Furman Center Releases New Report on Mortgage Lending in New York City

Research & Policy | November 12th 2010

November 12, 2010: While home purchase mortgage lending declined throughout the recession, new research released by the Furman Center finds that lending 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 loans accounted for less than one percent of home mortgage loans issued from 2005 to 2007. View press release.

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