Loan origination volume
The number of home-purchase mortgages originated on properties in a tract each year, and its year-over-year change.
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Not shown in the tool. The data behind this family is held and kept current, but it is not one of the measures the tool offers.
How many home-purchase mortgages were actually made on properties in a tract.
Lenders covered by the Home Mortgage Disclosure Act must record for every application "whether a covered loan was originated or purchased" (12 CFR 1003.4(a)(8)), and originated loans are what is counted here. Counting originations rather than applications means the measure follows completed transactions, which tracks turnover in the housing stock more closely than application flow does.
Origination counts respond to two different things at once: how much housing changes hands in a place, and how large the place is. A large tract with ordinary turnover and a small tract with heavy turnover can report similar counts. The count is not adjusted for the number of housing units, so it is a measure of transaction activity rather than of the rate at which a neighborhood turns over.
Cash purchases and seller financing leave no record here, since no mortgage application is filed. In markets with a high cash share, origination counts understate sales.
Metrics in this family#
Loan origination volume
The annual number of originated home-purchase loans in the tract, averaged across the three most recent reported years. Averaging is what makes the figure legible at tract level, where single-year counts are small and swing sharply.
Loan origination volume, year-over-year change
The percentage change in originated home-purchase loans from the previous year to the most recent reported year.
Because tract-level counts are small, a one-year percentage change is volatile: a move from four loans to eight is a large percentage change built on four transactions. Read it as a coarse signal, and prefer it in tracts with substantial lending.
Considerations#
The register covers institutions meeting the Regulation C reporting thresholds, currently 25 closed-end mortgage loans in each of the two preceding calendar years, or 200 open-end lines of credit (CFPB). Loans made by institutions below those thresholds are absent, so counts are of reported originations, not of all mortgages.
Around 4,768 institutions filed for the 2025 activity year (CFPB). The set of filers changes from year to year as institutions cross the thresholds, merge, or close, which introduces movement in counts that is not movement in the market.
Later static releases of a given year incorporate resubmissions and late submissions (FFIEC), so the most recent year is the least settled.
References#
- 112 CFR 1003.4(a)(8)https://www.consumerfinance.gov/rules-policy/regulations/1003/4/
- 2CFPBhttps://www.consumerfinance.gov/about-us/blog/changes-to-hmda-closed-end-loan-reporting-threshold/
- 3CFPBhttps://www.consumerfinance.gov/about-us/newsroom/2025-hmda-data-on-mortgage-lending-now-available/
- 4FFIEChttps://ffiec.cfpb.gov/documentation/faq/static-dataset-faq