Sunday, September 25, 2011

January 2011 Oregon HECM Inventory: Approaching 15,000 Loans; $3.295 Billion.

I have created a first ever Excel file HERE that includes a historical inventory, and status of, ALL HUD/FHA Oregon HECM loans that had been endorsed in Oregon as of January 2011. (See Excel downloading tip below).  

A PDF summary by Oregon county that I constructed showing loan status is HERE.

The Excel file includes the inventory data, a county level status summary sheet, a pivot table, and a lookup sheet that I created and used to populate status names for codes in several select fields:
  1. A case status (cs_sts) field
  2. A county name field
  3. A gender field
  4. A loan type field 
A HUD data dictionary for all the fields in the database is HERE

I highly recommend reviewing the data dictionary and using the Pivot table to extract detailed information; some examples of what is available are included in observations below.

Some observations:
  1. As of January 2011, the inventory of HECM loans in Oregon was 14,697. With 699 Oregon HECM loans endorsed from Jan-June 2011 [see FHA 6 month table I previously constructed and posted HERE], the current historical HECM inventory should now exceed 15,000 loans.
  2. Of the inventory of 14,697 loans, 249 were either assigned to HUD, or had a shortfall claim determination, or had been terminated after assignment. Those status categories represent 1.7% of all Oregon HUD HECM loans. 
  3. The 5 county Portland metro area had 39% of all HECM loans. 
  4. Using the pivot table I calculate that 41% of HECM loans were made to couples. Interestingly, twice as many were made to a single woman (35%) than were made to a single man. (17%). 
  5. Using the pivot table I calculate that the sum of the maximum claim amounts for HECM loan in Oregon as of January 2011 exceeded $3.295 Billion. Wells Fargo had the largest share of that inventory, at 18.2% /$599 million of the total maximum claim total.
Excel Downloading Tip:This workbook was created in Excel 2007/2010 format. Some users report they cannot directly view Excel files in this format from within their browser and/or that Excel files they save end up with a compressed .zip file extension.

My suggestion is to RIGHT CLICK and save the file to your PC. Then navigate to the file you downloaded and look at its file extension. IF it appears as .ZIP extension, change the .ZIP extension to an Excel 2007/2010 extension (.xlsx), and THEN open the file with Excel 2007/2010.

Originally created and posted on the Oregon Housing Blog.

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