Tuesday, February 28, 2012

1st Data Tables Created Using New GSE CY 2010 Database: State Distribution of $1 TRILLION in GSE Single Family Loan Acquisitions.

I am pleased to note that with the significant assistance from my friend Roberta Ando (also a retired HUD Oregon Field Office Director) I have been able to create the first national MS Access databases for ALL single family loans purchased by Fannie Mae and Freddie Mac during CY 2010, down to the census tract level. 

These databases form a new home owner/buyer focused" Picture of GSE Assisted Households" very similar to the periodic HUD Picture of Subsidized Households database and can be updated annually (more about that below).

Each of the 4.8 million loan level records in the databases contain 39 fields of data, so there are more than
187 million pieces of data in these two databases.(The original data came from FHFA in text files and required many, many tweaks and lots of computing power to get it into useable MS Access formats).
Unlike HMDA Data, These New GSE SF Databases Cover the Entire Country, NOT Just Metro Areas

Unlike HMDA data, these newly created databases cover the entire country and NOT just metropolitan areas; they also include a first time home buyer field not found in HMDA. A complete list of data elements in the database can be found HERE.

Future Plans

I will be releasing additional analysis of the GSE 2010 data in the coming days and weeks and am shopping for a national home to make these large Fannie and Freddie MS Access databases available for download and analysis by others. 

Because the GSE data is now in MS Access format, users can filter records and export files to MS Excel for further analysis or use database tools in Excel to directly query the MS Access databases. 

Maps Possible Too
Some users may also choose to convert the data tables they create into maps to help illustrate the geographic location of GSE loan purchases; for example, a map by state, metro area, county, or census tract of all GSE Hispanic first time home buyer loan counts and dollars.

Updating Annually Possible IF FHFA Cooperates
I will also be following up to encourage greater transparency from FHFA to make this annual public database available in MS Access formats so that the public can actually see who is benefiting from these loans [FHFA currently releases data in text form ONLY]. 

While I am pleased that Roberta and I have been able to put together these databases this year, there is no reason why FHFA should not be expected to post these databases in MS Access format annually.

All PDF tables I create from these databases will be available in a link in the right pane, Picture of GSE Assisted Households, CY 2010.

Today's First Analysis: 

State Distribution by Loan Counts and Shares of $1 Trillion in Loan Acquisitions for 4.8 Million Households
The two tables in the Picture of GSE Assisted Households, CY 2010 PDF file HERE show:
  • Table 1: An alpha listing by state for Fannie, Freddie and both GSE's showing both loan counts and loan $$ [unpaid principal amount of the loans at the time they were purchased by the GSE's].
  • Table 2: A sorted state listing of the highest to lowest shares/%'s of the total national loan counts.
Two Observations From Tables 1 and 2:
  • Five States (California, Illinois,Texas, New York, Florida) Accounted for 40% of CY 2010 GSE Loan $$ and 34% of all GSE SF Loans; 
  • Oregon Had $17 Billion in GSE Loans to 84,000 Families, 1.7% of the national GSE Loan $$

 Originally created and posted on the Oregon Housing Blog.

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