2008 Increases in Manufactured Home Purchase Loans

The Federal Reserve Bank of Philadelphia works with PolicyMap to perform calculations on the Home Mortgage Disclosure Act (HMDA) data that they find particularly useful. We’ve chosen to share these numbers with all PolicyMap users in the Mortgage Originations tab under “Federal Reserve Loan Calculations”. This year’s 2008 update to the Federal Reserve Bank’s calculations shows some interesting trends in manufactured home purchase loans from years previous.

To see where manufactured housing lending was on the rise, we considered counties with the highest percent change in the number of manufactured home purchase loans from 2006 to 2008. The places with the highest increase in these loans were primarily rural communities, and they were distributed across the nation fairly evenly. Adams County, CO, and Toombs County, GA, topped the list with 200%+ increases in manufactured housing lending.

Percent change in the number of manufactured home purchase loans between 2006 and 2008, as defined by the Federal Reserve Bank.

County State Percentage Change
Adams CO 263.86%
Toombs GA 233.33%
Jefferson CO 187.50%
Davis UT 171.43%
Niagara NY 163.64%
Cass ND 160.87%
Jefferson MS 160%
Campbell KY 142.86%
Wilkinson MS 140%
Bent CO 120%

HMDA data for 2004-2008 is available for free and can be found in the Mortgage Originations tab. The custom Federal Reserve Bank HMDA calculations differ from the PolicyMap calculations we also display on PolicyMap, although they may have similar designations. The baseline of data from which we run the calculations for the Federal Reserve Bank differs from the PolicyMap as follows: the Federal Reserve Bank home loan (called “All Loans” in PolicyMap) is defined as all loans originated for the purchase, home improvement, or refinance of a building that is either owner-occupied or not owner-occupied, which is a one to four-family dwelling, a manufactured house, or a multifamily building. However, the PolicyMap home loan (called “All Originations” in PolicyMap) is defined as all loans originated for the purchase or refinance of an owner-occupied, one-to-four family dwelling. For more information about HMDA data, TRF’s calculations on HMDA data, and the calculations PolicyMap displays for the Federal Reserve Bank, please see the HMDA (Home Mortgage Disclosure Act) entry in our Data Directory.

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