Tuesday, March 13, 2012

In CY 2010 GSE's Purchased 8,100 Loans Made to Millionaires.

I have put together an Excel workbook with loan level detail for $3 billion/8,139 loans purchased by the GSE's in 2010 that were to borrowers with incomes of $1 million or more.  

( I have also added the state level summary of loans to Millionaires to my PDF compilation in the right pane, Picture of GSE Assisted Households, CY 2010). Look for Table 9.  

Millionaires make up a VERY small percentage (2/10ths of 1%) of the more than 4.8 million loans purchased by the GSE's in CY 2010 and a substantial number of these loans could have been refinances of existing loans (users can research that more closely using this Excel workbook). 

In Oregon in CY 2010 there were a total of 104 GSE loans that went to millionaires, totaling $25.8 million; this represented only 1/10th of 1 percent of all loans in Oregon.

How to Download GSE Excel Workbooks
  1. All of these Excel posts are included in a folder I have created on a cloud data sharing service, SpiderOak.  A link to that folder is HERE and it has also been added to the right pane as GSE CY 2010 Excel Files. [Ask me sometime about what a pain it was to find a web site that can host large file sizes].
  2. The link above will open a web page.
  3. From that web page you will see a “download” radio file on the right side that is supposed to allow you to download all Excel files in this folder as a single compressed file-I DO NOT recommend this method as I encounter errors in the size of the downloaded compressed file and in trying to open the file.
  4. INSTEAD you should A. Left mouse click on the underlined folder name on the LEFT side of the page [GSE 2010 Public Shared Excel]  to open the folder AND THEN B. Click the “download” radio button on the right side for that file to download each file individually in an uncompressed format.
  5. After downloading the file(s), navigate to the directory where you downloaded the file and double click to open.
GSE Loans Excel Workbook 3: GSE Loans to Millionaires [3.7 MB]
The data in this Excel workbook consists of $3 billion/8,139 loans purchased by the GSE’s during CY 2010 where borrower income of $1 million or more was reported.  The GSE CY 2010 data dictionary with all 39 field names and values can be found HERE:

In addition, to make the workbook easier to use,  I created lookup formulas to add fields with NAMES for 8 of the 39 data elements; those additional columns begin at column “AN” of the Oregon CY 2010 GSE Data worksheet. These include columns with the county and MSA names, names for race and ethnicity, a name for the purpose of the loan, and a column that places the ratio of borrower income to median area income in one of 5 categories /“bins”.  [For this workbook only I added one additional column that shows the ratio of borrower annual income to the median income for the census tract where the loan was purchased].
 
This workbook also includes a pivot table, allowing users to focus on geographies or demographics of interest; the default view is for a count of all loans by state showing by GSE the number of loans to millionaires. Users can change the fields displayed in the pivot table to retrieve any combination of data using the data fields available.  A summary worksheet in the workbook includes a ranked order by state of the % of all GSE loans that went to millionaires.

NOTE:
Loan records in this workbook are limited to ONLY borrowers with incomes of $1 million or more.
Originally created and posted on the Oregon Housing Blog.

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