Wednesday, February 29, 2012

Fannie, Freddie, and FHA In Oregon, CY 2010: Ho Hum, Another $21 Billion Year.

Readers may recall a September 2010 post HERE that showed an Oregon county breakdown of $21 Billion in Fannie, and Freddie AND FHA loans for CY 2008. 

Because it requires so much work to produce this data, I skipped CY 2009 but have just added two additional tables to the PDF file linked in right pane of the blog; A Picture of GSE Assisted Households, CY 2010.

Look for These Two New Tables:
  • Table 3: Loan Counts by Oregon County for Fannie, Freddie AND FHA, Including Loan Purpose and Shares
  • Table 4: Loan $$ by Oregon County for Fannie, Freddie AND FHA, Including Loan Purpose and Shares

Some Observations:
  1. During CY 2010 in Oregon there were $21.35 Billion in loans acquired or insured by the GSE's and FHA.
  2. The loans went to 104,000 households.
  3. Among the three agencies, FHA's share of all loans was 19%, but it had a much larger 43% share of home purchase loans. 
  4. Refinances made up 82% of the GSE business in Oregon during CY 2010. 

A Multiple Year Look at Federally Supported Home Ownership Program in Oregon:
Last 3 Years: More than $65 Billion; Last 4 Years: Estimated $80 Billion.

Federally supported home loan commitments in Oregon were in excess of $65 billion for the 3 years from 2008-2010 assuming: 
  • That GSE and FHA volume during 2009 was roughly the same as 2008 and 2010.
  • That VA and RDA loans totaled $1 billion annually.
Assuming GSE and FHA loan volume was somewhat down during CY 2011, a working estimate is that for the last 4 calendar years federally supported home loans in Oregon totaled close to $80 Billion.

Putting an Oregon annual $20 Billion, 100,000 GSE, FHA, VA, and RDA Assisted Households A Year Estimate in Perspective:
  • The federal Consolidated Federal Funds Report shows that federally supported Small Business Loans (CFDA 59.012) in Oregon totaled only $104 million during FY 2010.
  • CBPP estimates HERE that there were 54,000 federally assisted renter households in Oregon in 2010, 75 years after the beginning of these programs.

Originally created and posted on the Oregon Housing Blog

No comments:

Post a Comment