HMDA 2024 Trends

HMDA 2024 preliminary data was released by the CFPB at the end of March 2025. There is a wealth of information contained in this release, below find a summary of important national trends.

1.Origination by bank/nonbank

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• Total issuance by loan count in 2024 edged up by 7.9% compared to the prior year after two consecutive annual declines. The nonbank share rose to a record high 70.7% last year, up from 67.1% in 2023.
• In terms of UPB, issuance volumes rose by 14.4% in 2024 from the prior year, and the nonbank share rose from 66.2% in 2023 to 70.1% last year.

 
2.Origination by loan typ

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• The conventional share of issuance by loan count in 2024 fell to 78.1% in 2024 from 79.5% the prior year, while the VA share rose by 1.3% to 8.0% and the FHA share increased by 0.2% to 13.3%.
• In terms of UPB, the conventional share of issuance last year dropped by 1.8% to 75.7% from 2023, while that of VA gained by 1.6% to 10.3% and FHA improved by 0.2% to 13.7%

 
3.Origination by loan purpos

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• The increase in loan count issuance in 2024 was led by refis (35.7%) while purchase mortgages rose by a much smaller amount (2.0%). The refi share rose by 4.8% to 23.9% while the purchase share dipped by 3.5% to 56.6%.

 
1.Income distributio

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• The income distribution of homebuyers in 2024 was little changed from that of 2023 for both conventional and Government loans.

 
5.Median family income of MH loan and site-built loa

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• The median income of conforming site-built loan buyers in 2024 rose by $5,000 to $125,000. The same figure for FHA rose by $4,000 to $91,000.
• The median incomes of conforming and FHA borrowers in 2024 were very close, coming in at $71,000 and $72,000 respectively. They were both $69,000 the prior year.