Wednesday, September 8, 2010

Fannie, Freddie and FHA Oregon CY 2008: $21.8 Billion+ In Single Family Loans to 101,000+ Families.

I have created the first ever Oregon county summary level table HERE that shows Fannie, Freddie AND FHA single family lending for CY 2008. This table includes ALL counties in Oregon, not just metro areas that are reported in HMDA.

I can say "first ever" with confidence because the data required to create the table was a real pain to acquire, combine and summarize. (As with past mega projects, I blame it on Sisu).

Since we (taxpayers) now own all three of these organizations I thought you might be interested to know that:
  1. 101,640 Oregon families received a CY 2008 loan that was insured or acquired by these three federally owned organizations.
  2. $21.8 billion in Oregon SF loans were insured or acquired by these three federally owned organizations in CY 2008.
  3. Fannie and Freddie accounted for 82%/(83,397) of all Oregon SF loans insured or acquired by these three organizations in CY 2008, and FHA 18% (18,243).
  4. The 5 counties in Oregon that are in the Portland metro area received 52% (52,963) of all loans insured or acquired in Oregon by these organizations in CY 2008.
  5. When compared to the 695,349 mortgages outstanding in Oregon (see my prior post on underwater loans HERE), these 101,640 loans in ONE year would represent 15% of ALL mortgages outstanding in Oregon (actual percentage is likely somewhat less because some 2008 loans have already been taken out through pay off or foreclosure).
Comparison--OHCS SF Loans in CY 2008: 1,598 Loans, $282 Million (Many were FHA insured or acquired by Fannie/Freddie)
To put these numbers in context, during CY 2008, the OHCS Oregon SF bond program originated 1,598 /$282 million in single family loans, many of which were either insured by FHA or acquired by Fannie and Freddie. (OHCS SF loan volume since CY 2008 has also dramatically decreased while I expect future CY 2009 data will show increases for FHA, and perhaps Fannie and Freddie also).

I have much, much more data from the CY 2008 Fannie/Freddie SF database I created and will working with other groups to make snapshots of that data available in the future. 

Originally created and posted on the Oregon Housing Blog.

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