U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - Northeast
Table 7-3b. Mortgage Insurance Status, Rental and Vacant 50-or-More-Housing-Unit Mortgaged Properties
^Number of mortgaged properties.
For information on confidentiality protection, sampling error, nonsampling error, and definitions, see text.
For minimum base of derived figures (percent, median, etc.) and meaning of symbols, see text.
@5Includes first mortgages that are guaranteed by the VA or Rural Housing Service/Rural Development or are insured by state and local governments with or without FHA insurance, VA, or Rural Housing Service/Rural Development guarantees.
Monthly Rental Receipts Per Housing Unit, Rental Receipts as Percent of Value, Rental Vacancy Losses as Percent of Potential Receipts, Interest and Principal Payments on First Mortgage as Percent of Rental Receipts and Real Estate Tax as Percent of Rental Receipts acquired before 2000 exclude properties with less than half of units in rental market during all of year preceding survey and cooperatively owned apartments^^

Properties with government-insured
rental market during all of year preceding survey and cooperatively owned apartments^^
or guaranteed first mortgage
Total mortgaged
properties
FHA
first mortgage
Other
insured or guaranteed
first mortgage@5
Properties with
privately-insured
first mortgage
Not insured

50-or-more housing properties
with traditional first mortgage
13052 1061 971 1017 10003

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
12747 1057 927 1010 9754
In central cities 7515 689 413 627 5785
Not in central cities 5233 367 514 382 3969
Outside MAs 305 4 44 7 249

Number of Housing Units

50 to 74 housing units
4430 302 463 400 3264
75 to 99 housing units 2446 120 198 184 1944
100 to 149 housing units 2737 279 116 208 2133
150 to 199 housing units 1219 125 71 73 950
200 to 299 housing units 1277 151 69 96 960
300 to 499 housing units 692 51 35 41 565
500 to 999 housing units 183 21 14 12 136
1,000 or more housing units 69 11 5 2 51

Manner of Acquisition

By purchase
11644 945 697 881 9122
Placed one new mortgage 9043 714 535 717 7077
Placed two or more new mortgages 582 56 67 36 423
Assumed mortgage(s) already on property 978 99 56 70 753
Assumed mortgage(s) already on property
and placed new mortgage
393 18 17 10 348
Borrowed using assets other than this
property as collateral
82 0 1 7 74
Paid all cash-no borrowing 340 46 6 8 280
Other manner 226 12 15 33 166
By inheritance or gift 167 15 16 7 129
By divorce 0 0 0 0 0
By tax free exchange of
other property
51 0 6 12 33
By foreclosure or assignment 69 2 3 5 60
By some other manner 292 53 15 39 184
Not reported 828 45 234 73 475

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
3243 220 180 302 2542
Sale of stock or other partnership
shares for this project
448 28 15 26 380
Sale of previously owned stocks,
shares, or other securities
147 0 3 91 53
Sale of land or other real estate 119 30 4 8 77
Owner's cash, bank deposits,
share accounts, or bonds
1288 74 85 100 1029
Borrowing from a retirement plan 0 0 0 0 0
Borrowing using assets other than this
property as collateral
125 19 1 2 103
Proceeds from an insurance policy 0 0 0 0 0
From a state or local government source 113 4 9 2 98
From a non-profit organization 19 0 1 0 18
Proceeds from sale of tax credits 143 6 24 2 111
From parents or relatives 127 9 0 87 32
Other cash source 306 20 3 95 188
Non-cash source 23 0 2 2 19
No downpayment required 204 17 4 16 167
Not reported 647 29 36 52 530
Other properties 9533 821 769 691 7252
Not reported 277 21 22 24 210

Year Property Acquired

1999 to 2001 (part)
1599 142 103 86 1268
1997 and 1998 1195 64 46 107 977
1995 and 1996 932 54 66 160 651
1990 to 1994 1213 114 87 84 928
1985 to 1989 2172 173 315 156 1529
1980 to 1984 2335 234 162 202 1737
1975 to 1979 1209 104 92 54 959
1970 to 1974 1131 91 45 105 890
1969 or earlier 1267 86 54 64 1063

Building and Land Acquisition

Acquired at same time
9645 762 581 832 7470
Not acquired at same time 2370 235 129 112 1894
Land not owned by building owner 172 13 17 14 129
Not reported 865 51 244 59 511

Property New or Previously Owned When
Acquired

Acquired by purchase
11644 945 697 881 9122
New 3845 334 315 254 2942
Previously owned 7577 586 376 610 6005
As residential property 7177 548 319 593 5716
Converted from nonresidential use 400 38 57 16 289
Other 65 11 2 5 47
Not reported 158 13 4 13 127
Other properties 580 71 40 63 406
Not reported 828 45 234 73 475

Year Structure Built

1999 to March 2000
265 35 11 19 201
1997 and 1998 285 37 20 14 214
1995 and 1996 227 10 37 23 158
1990 to 1994 484 19 33 19 413
1980 to 1989 1882 156 369 100 1257
1970 to 1979 2693 256 132 200 2106
1960 to 1969 2338 203 111 149 1875
1950 to 1959 1241 53 93 163 933
1940 to 1949 790 119 36 53 581
1939 or earlier 2847 173 130 278 2266

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
2424 171 139 148 1965
Less than $20,000 426 8 24 22 373
$20,000 to $39,999 927 85 39 51 752
$40,000 to $59,999 542 18 48 36 439
$60,000 to $79,999 170 37 6 7 120
$80,000 to $99,999 158 10 16 9 122
$100,000 to $124,999 78 4 0 19 54
$125,000 to $149,999 59 4 5 3 47
$150,000 to $174,999 7 1 0 0 6
$175,000 to $199,999 16 0 0 0 16
$200,000 to $249,999 28 1 0 0 27
$250,000 to $299,999 5 1 0 0 4
$300,000 to $499,999 6 1 0 0 4
$500,000 or more 0 0 0 0 0
Median 36938 38335 42512 40581 36223
Mean 48003 55677 46210 49864 47321
Other properties 10629 890 832 869 8038

Value

Less than $1,000,000
469 41 23 66 339
$1,000,000 to $1,999,999 1822 115 366 174 1166
$2,000,000 to $2,999,999 2077 178 132 218 1548
$3,000,000 to $3,999,999 1591 106 75 110 1301
$4,000,000 to $4,999,999 1079 69 65 58 887
$5,000,000 to $7,499,999 2324 159 150 172 1844
$7,500,000 to $9,999,999 954 93 41 30 790
$10,000,000 to $14,999,999 1243 131 37 81 995
$15,000,000 to $19,999,999 583 67 31 45 440
$20,000,000 to $29,999,999 420 51 23 37 310
$30,000,000 to $39,999,999 171 8 17 4 142
$40,000,000 to $49,999,999 107 9 9 16 73
$50,000,000 or more 211 32 3 7 169
Median 4526511 5324141 2728120 3458335 4730540
Mean 7943265 10384655 5414120 7173283 8008130

Value Per Housing Unit@8

Less than $20,000
1538 121 158 163 1095
$20,000 to $39,999 4643 312 456 431 3443
$40,000 to $59,999 3365 338 197 183 2646
$60,000 to $79,999 1288 98 44 87 1059
$80,000 to $99,999 801 89 25 61 626
$100,000 to $124,999 561 28 58 42 434
$125,000 to $149,999 253 19 12 20 202
$150,000 to $174,999 167 14 9 3 141
$175,000 to $199,999 104 10 0 1 93
$200,000 to $249,999 128 15 3 23 88
$250,000 to $299,999 81 7 5 3 66
$300,000 to $499,999 62 7 4 0 50
$500,000 or more 62 1 0 1 60
Median 42055 45747 34344 36020 43502
Mean 56877 56843 44439 50135 58773

Purchase Price as Percent of Value@8

Acquired by purchase
11644 945 697 881 9122
Purchased 1997 to 2001 (part) 2424 171 139 148 1965
Less than 60 percent 455 8 43 30 374
60 to 69 percent 99 7 3 2 87
70 to 79 percent 164 30 1 7 126
80 to 99 percent 540 47 32 46 415
100 percent or more 1166 80 60 63 963
Median 98 98 94 95 99
Purchased 1990 to 1996 (part) 1895 149 118 230 1398
Less than 40 percent 186 9 23 0 154
40 to 59 percent 218 4 11 43 160
60 to 79 percent 580 44 20 109 407
80 to 99 percent 240 14 15 19 192
100 percent or more 658 78 48 59 473
Median 79 588 86 73 79
Purchased 1989 or earlier 7326 625 441 502 5758
Less than 20 percent 633 68 46 32 487
20 to 39 percent 892 47 53 32 760
40 to 59 percent 879 44 65 44 726
60 to 79 percent 807 67 21 99 621
80 to 99 percent 484 76 27 32 350
100 percent or more 3592 324 229 263 2776
Median 98 306 334 390 95
Not acquired by purchase 1408 116 274 136 882

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
8353 724 545 575 6508
Less than $50,000 1771 137 245 82 1307
$50,000 to $99,999 1456 125 29 106 1197
$100,000 to $249,999 2415 200 102 166 1947
$250,000 to $499,999 1277 101 43 99 1034
$500,000 to $749,999 594 74 48 55 416
$750,000 to $999,999 204 29 35 0 140
$1,000,000 to $1,499,999 218 17 10 37 154
$1,500,000 to $1,999,999 105 20 14 6 65
$2,000,000 to $2,999,999 116 12 1 4 100
$3,000,000 or more 197 9 18 20 150
Median 158934 175125 96834 189921 157859
Mean 438227 370328 404826 535049 440027
Properties with no capital
improvements between 1998 and 2000
2359 194 95 275 1795
Capital improvements not
reported
2340 143 331 167 1700

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
8353 724 545 575 6508
Less than $500 1867 167 219 84 1398
$500 to $999 1734 167 93 130 1344
$1,000 to $2,499 2733 225 107 220 2181
$2,500 to $4,999 1194 69 37 62 1026
$5,000 to $7,499 333 52 27 29 224
$7,500 to $9,999 108 22 8 6 72
$10,000 to $14,999 107 13 8 28 58
$15,000 to $19,999 88 0 32 3 54
$20,000 to $29,999 59 8 8 4 39
$30,000 or more 130 2 6 10 113
Median 1316 1187 789 1502 1353
Mean 3101 2357 3320 3876 3096
Properties with no capital
improvements between 1998 and 2000
2359 194 95 275 1795
Capital improvements not
reported
2340 143 331 167 1700

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
12016 928 886 970 9232
Less than $100 271 29 29 0 213
$100 to $199 174 15 8 13 138
$200 to $299 458 12 237 20 189
$300 to $399 838 39 151 76 571
$400 to $499 1517 84 141 139 1152
$500 to $599 2323 181 74 204 1863
$600 to $799 1930 165 93 203 1468
$800 to $999 2458 179 63 154 2063
$1000 or more 1965 221 89 154 1501
No rental receipts 84 3 0 8 73
Median 640 724 412 629 662
Mean 749 797 555 714 767
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Rental Receipts as Percent of Value@8

Acquired before 2000
12016 928 886 970 9232
Less than 5 percent 400 48 25 12 316
5 to 9 percent 913 39 25 77 771
10 to 14 percent 2899 217 415 188 2079
15 to 19 percent 2481 173 144 133 2031
20 to 24 percent 2031 163 117 184 1566
25 to 29 percent 1066 100 41 134 791
30 to 39 percent 979 69 56 104 750
40 percent or more 1180 119 63 129 869
Median 19 20 15 22 18
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
12016 928 886 970 9232
Less than 1.0 percent 2796 219 146 260 2171
1.0 to 2.9 percent 2699 226 143 242 2088
3.0 to 4.9 percent 1408 118 34 86 1170
5.0 to 6.9 percent 573 92 19 122 341
7.0 to 8.9 percent 327 21 34 23 249
9.0 to 10.9 percent 305 54 6 7 239
11.0 to 12.9 percent 101 4 10 2 85
13.0 to 14.9 percent 106 2 2 0 102
15.0 percent or more 277 6 13 32 227
Not reported or not computed 3422 188 477 196 2561
Median 2.1 2.3 1.8 2.0 2.1
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Age Restrictions

Property restricted to people
age 55 or older
2257 206 223 136 1692
Property not restricted to people
age 55 or older
10290 819 513 864 8093
Not reported 505 35 235 17 218

Age Composition

Over one-half the residents of the
building age 55 or older
1071 70 79 51 871
Over one-half the residents of the
building not age 55 or older
8734 723 427 808 6776
Not reported 3248 269 466 157 2356

Meal Service Provided by Properties
Exclusively or Predominantly Occupied by
People Age 55 or Older

Property provides meal service
969 81 59 41 788
Charge included in rent 572 55 38 26 452
Charge not included in rent 149 4 13 12 120
Not reported 249 22 8 4 215
Property does not provide meal
service
2410 193 250 135 1831
Not reported 9673 786 662 840 7384

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
1551 177 216 156 1002
Government rental subsidy 4386 472 311 446 3158
Government grant 172 10 52 8 101
Property tax relief 1267 84 80 130 973
Federal income tax credit for
low-income, old or historic properties
527 18 87 26 396
Accelerated federal income tax
depreciation for low- and
moderate-income properties
130 6 7 15 102
Subsidy from a non-profit corporation 79 3 7 1 68
None of the above benefits 5851 410 208 337 4896
Not reported 1519 107 286 89 1037

Source of Property Benefits@1

With property benefits
5683 544 478 591 4070
Federal government 4072 405 355 444 2868
State government 1059 128 59 77 796
Local government 1580 186 91 138 1166
Non-profit corporation 79 3 7 1 68
Not reported 118 6 20 4 88
With no property benefits 5851 410 208 337 4896
Not reported 1519 107 286 89 1037

Reason for Benefits@1

With property benefits
5683 544 478 591 4070
Occupied by low- or moderate-income
individuals
4436 441 364 416 3215
Occupied by elderly or disabled
individuals
2243 184 160 153 1746
A historic structure 152 1 12 0 139
Located in a community development or
economic development area
177 21 9 12 135
Covered by a Homestead Exemption 7 0 0 4 3
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 5 0 0 5 0
Other reason 557 33 21 130 372
Not reported 237 12 69 18 137
With no property benefits 5851 410 208 337 4896
Not reported 1519 107 286 89 1037

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
6552 539 395 642 4976
Property has never had tenants
receiving Section 8 assistance
5301 462 273 324 4242
Not reported 1200 60 303 52 786

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
980 113 103 78 686
Limited partnership 5054 424 458 384 3788
Joint venture 56 4 0 3 49
General partnership 1085 91 46 67 880
Life insurance company 35 3 18 0 14
Depository institution 0 0 0 0 0
Public real estate investment trust 76 1 0 9 66
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
2926 205 177 179 2364
Housing cooperative organization 1634 126 90 148 1270
Non-profit or church-related institution 756 48 59 50 600
Pension fund 20 1 2 0 17
Fraternal organization 0 0 0 0 0
Other 430 45 18 99 267

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
11469 892 877 834 8866
2 mortgages 1365 151 69 160 985
3 or more mortgages 218 18 25 23 153

Form of Debt of First Mortgage

Mortgage or deed of trust
13052 1061 971 1017 10003
Contract to purchase 0 0 0 0 0
Some other loan secured by this property 0 0 0 0 0

Method of Loan Application

By computer over the Internet or
by e-mail
35 4 0 0 30
By telephone or FAX 933 78 54 42 759
By regular mail 1642 94 162 139 1247
By personal visit 4060 276 244 411 3129
Through third party (such as real
estate agent or builder)
3339 275 159 223 2682
Some other way 1168 167 77 61 863
Not reported 1529 105 264 103 1057
Not available 347 63 11 37 236

Origin of First Mortgage

Mortgage made at time property acquired
7377 652 744 591 5389
Mortgage assumed at the time property
acquired
750 104 43 56 548
Mortgage placed later than acquisition of
property
4925 305 184 369 4066
Refinanced mortgage 4602 256 169 366 3811
Same lender 1600 70 76 95 1359
Different lender 3001 187 92 271 2451
Mortgage placed on property
owned free and clear of debt
323 49 16 3 255
Not available 0 0 0 0 0

Purpose of First Mortgage Placed
Later Than Acquisition of Property

Properties on which
mortgages placed later
than acquisition of property
4925 305 184 369 4066
Obtain lower interest rate 2704 140 73 177 2313
Increase payment period for mortgage 89 0 3 15 72
Reduce payment period for mortgage 1 0 0 0 1
Renew or extend loan that had fallen
due, without increasing outstanding
balance
631 19 22 52 537
Receive cash or increase outstanding
balance of loan
923 98 53 57 715
Other reason 351 16 21 63 250
Not reported 226 31 12 5 178
Other properties 8128 756 787 648 5937
Not available 0 0 0 0 0

Cash Received From Refinancing
or Placing Mortgage on Property
Owned Free and Clear

Properties on which cash
received
2348 148 90 149 1961
Less than $1,000,000 1474 83 60 81 1251
$1,000,000 to $1,999,999 488 53 15 39 381
$2,000,000 to $2,999,999 157 3 0 19 135
$3,000,000 to $3,999,999 81 2 0 5 74
$4,000,000 to $4,999,999 42 0 0 1 41
$5,000,000 to $7,499,999 45 3 4 2 36
$7,500,000 to $9,999,999 13 1 3 1 8
$10,000,000 to $14,999,999 26 0 3 2 20
$15,000,000 to $19,999,999 9 0 5 0 3
$20,000,000 to $29,999,999 7 1 0 0 6
$30,000,000 to $39,999,999 3 1 0 0 2
$40,000,000 to $49,999,999 0 0 0 0 0
$50,000,000 or more 3 0 0 0 3
Not reported 0 0 0 0 0
Median 796319 892450 750514 927634 783694
Mean 1430215 1480966 2407174 1263515 1394255
Properties that refinanced
and did not receive cash back
1689 79 66 175 1369
Properties that refinanced
and did not report if received
cash back
888 78 29 45 736
Properties that did not
refinance
8128 756 787 648 5937
Not available 0 0 0 0 0

Use of Cash From Refinancing or
Placing Mortgage on Property Owned Free
and Clear

Properties on which cash
received@1
2348 148 90 149 1961
For additions, improvements or repairs
to this property
1616 126 73 107 1310
To consolidate debts 192 3 2 24 163
For investment in other real estate 645 59 27 29 530
For other types of investments 346 42 12 7 285
For educational or medical expenses 4 0 0 0 4
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 67 32 0 0 35
To purchase an automobile, truck, or
other vehicle
9 0 0 0 9
To purchase consumer product other than
automobile, truck, or other vehicle
9 0 0 0 9
Other 275 8 4 24 239
Not reported 104 8 0 0 96
Properties that refinanced
and did not receive cash back
1689 79 66 175 1369
Properties that refinanced
and did not report if received
cash back
888 78 29 45 736
Properties that did not
refinance
8128 756 787 648 5937
Not available 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
1444 150 94 180 1020
Provide funds for the purchase of this
property
305 32 24 44 205
Provide funds for additions,
improvements or repairs to this
property
547 49 41 96 361
Provide funds for consolidation of debts 74 7 0 15 52
Provide funds for investment in other
real estate
25 0 6 1 17
Provide funds for other types of
investments
23 3 1 0 19
Provide funds for educational or
medical expenses
0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0
Other reasons 234 41 7 13 172
Not reported 237 18 15 11 193
Other properties 11609 911 877 838 8983

Purpose of Line of Credit

Properties with second
mortgage or line of credit
167 25 3 6 133
Provide funds for additions,
improvements or repairs to this
property
53 3 0 3 47
Provide funds for consolidation of debts 6 0 0 0 6
Provide funds for investment in other
real estate
9 0 0 0 9
Provide funds for other types of
investments
0 0 0 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0
Other reasons 12 0 0 0 12
Not reported 87 21 3 3 60
Other properties 12886 1036 968 1011 9870

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
3743 265 182 268 3028
1997 and 1998 2887 141 124 258 2364
1995 and 1996 1532 106 147 162 1118
1990 to 1994 1308 96 141 68 1002
1985 to 1989 955 133 252 93 477
1980 to 1984 1240 160 50 97 933
1979 or earlier 1387 160 73 71 1082

Traditional First Mortgage Loan

Less than $500,000
544 15 34 72 422
$500,000 to $999,999 1328 40 278 180 830
$1,000,000 to $1,499,999 1945 140 200 157 1448
$1,500,000 to $1,999,999 1449 139 59 124 1126
$2,000,000 to $2,499,999 1154 85 76 51 942
$2,500,000 to $2,999,999 817 45 47 50 676
$3,000,000 to $3,999,999 1420 116 77 53 1173
$4,000,000 to $4,999,999 948 77 54 53 763
$5,000,000 to $7,499,999 1395 157 37 70 1131
$7,500,000 to $9,999,999 595 64 14 47 470
$10,000,000 to $12,499,999 377 59 26 44 248
$12,500,000 to $14,999,999 185 26 12 6 140
$15,000,000 to $19,999,999 207 21 19 24 142
$20,000,000 or more 247 37 16 10 184
Not reported 443 39 21 75 307
Median 2450487 3402073 1407619 1747540 2559147
Mean 4233561 5856572 3150496 3575305 4232535

Total Mortgage Loan

Less than $500,000
510 15 34 72 389
$500,000 to $999,999 1227 40 271 160 756
$1,000,000 to $1,499,999 1801 128 185 129 1359
$1,500,000 to $1,999,999 1447 133 71 99 1143
$2,000,000 to $2,499,999 1186 85 62 59 980
$2,500,000 to $2,999,999 833 44 47 93 649
$3,000,000 to $3,999,999 1390 113 91 50 1135
$4,000,000 to $4,999,999 988 68 60 55 805
$5,000,000 to $7,499,999 1455 158 35 88 1174
$7,500,000 to $9,999,999 631 78 15 49 489
$10,000,000 to $12,499,999 390 36 21 43 290
$12,500,000 to $14,999,999 214 52 4 7 150
$15,000,000 to $19,999,999 215 28 31 20 136
$20,000,000 or more 326 45 21 16 244
Not reported 441 39 21 75 306
Median 2581020 3587365 1458762 2080696 2671718
Mean 4698391 6470777 3366496 3964626 4713330

Traditional First Mortgage Outstanding
Debt

Less than $500,000
1120 53 58 159 849
$500,000 to $999,999 1795 87 354 177 1177
$1,000,000 to $1,499,999 2122 194 161 142 1625
$1,500,000 to $1,999,999 1424 123 63 96 1142
$2,000,000 to $2,499,999 1078 51 75 66 886
$2,500,000 to $2,999,999 827 68 25 50 684
$3,000,000 to $3,999,999 1262 93 58 51 1061
$4,000,000 to $4,999,999 689 76 45 33 535
$5,000,000 to $7,499,999 1020 115 39 60 806
$7,500,000 to $9,999,999 540 56 25 26 433
$10,000,000 to $12,499,999 254 30 10 48 167
$12,500,000 to $14,999,999 129 24 5 6 94
$15,000,000 to $19,999,999 162 26 16 20 100
$20,000,000 or more 189 25 16 9 139
Not reported 441 39 21 75 306
Median 1945698 2518895 1194955 1474914 2031202
Mean 3515854 4834986 2742134 3140300 3489094

Total Mortgage Outstanding Debt

Less than $500,000
980 45 58 123 754
$500,000 to $999,999 1636 87 340 163 1047
$1,000,000 to $1,499,999 2063 163 149 145 1606
$1,500,000 to $1,999,999 1450 127 71 80 1172
$2,000,000 to $2,499,999 1128 48 73 104 903
$2,500,000 to $2,999,999 817 78 35 50 655
$3,000,000 to $3,999,999 1328 99 54 52 1123
$4,000,000 to $4,999,999 738 76 51 51 560
$5,000,000 to $7,499,999 1065 113 38 62 852
$7,500,000 to $9,999,999 574 59 13 30 471
$10,000,000 to $12,499,999 269 15 25 46 182
$12,500,000 to $14,999,999 169 52 4 2 111
$15,000,000 to $19,999,999 142 24 20 18 80
$20,000,000 or more 260 38 18 16 188
Not reported 436 39 21 75 300
Median 2079584 2769730 1257312 1751288 2151153
Mean 3680123 5202395 2873865 3240033 3641674

Current Interest Rate on First Mortgage

Less than 6.0 percent
4781 108 449 484 3740
6.0 percent 57 0 0 0 57
6.1 to 6.4 percent 170 14 15 0 141
6.5 to 6.9 percent 783 30 76 31 645
7.0 percent 938 8 25 93 812
7.1 to 7.4 percent 750 44 33 40 632
7.5 to 7.9 percent 1220 195 36 58 932
8.0 percent 266 28 24 2 213
8.1 to 8.4 percent 481 52 36 18 375
8.5 to 8.9 percent 555 49 68 9 429
9.0 percent 102 6 10 0 87
9.1 to 9.4 percent 235 28 35 8 165
9.5 to 9.9 percent 175 65 29 2 80
10.0 percent 71 0 0 0 71
10.1 to 10.4 percent 76 26 0 6 44
10.5 to 10.9 percent 69 9 11 3 45
11.0 percent 135 1 10 14 110
11.1 to 12.9 percent 243 103 6 40 93
13.0 percent 49 5 0 4 41
13.1 percent or more 1896 290 110 205 1291
Not reported 0 0 0 0 0
Median 7.1 9.0 6.6 6.9 7.1

Type of Interest Rate Buydown

Properties with interest rate
buydown
3 0 0 0 3
Constant payment 3 0 0 0 3
3-2-1 buydown 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Properties without interest
rate buydown
4813 243 365 213 3991
Not reported 8236 818 606 804 6009

Term of First Mortgage

Less than 5 years
89 0 5 0 84
5 years 340 0 0 0 340
6 to 9 years 342 0 1 0 341
10 years 1483 4 41 88 1350
11 to 14 years 147 0 13 13 121
15 years 489 7 1 30 451
16 to 19 years 87 0 0 3 83
20 years 175 0 58 3 114
21 to 24 years 148 0 15 5 128
25 years 376 0 37 2 338
26 to 29 years 14 5 2 0 8
30 years 1779 998 102 76 603
More than 30 years 781 48 141 0 593
No stated term 6802 0 555 796 5450
Median 21 31 30 15 15

Unexpired Term of First Mortgage

Less than 5 years
848 67 38 20 723
5 to 9 years 1911 134 39 60 1678
10 to 14 years 995 159 1 62 772
15 to 19 years 774 117 98 42 517
20 to 24 years 723 146 114 0 463
25 to 29 years 702 347 26 36 293
30 or more years 297 91 99 0 107
No stated term or not computed 6802 0 555 796 5450
Median 12 22 21 12 10

Holder of First Mortgage

Commercial bank or trust company
2350 182 286 142 1740
Savings and loan association, federal
savings bank
1755 138 38 135 1444
Mutual savings bank 334 23 0 48 263
Life insurance company 479 21 14 34 410
Mortgage banker or mortgage company 119 35 4 27 52
Federally-sponsored secondary market
agency or pool
3933 351 252 470 2861
Conventional mortgage pool 83 26 0 29 28
Other federal agency 642 50 127 24 441
Real estate investment trust 736 0 1 0 735
Pension or retirement fund 153 37 38 17 61
Credit union 180 22 2 11 145
Finance company 126 15 4 3 104
State or municipal government or
housing finance agency
1509 122 173 54 1160
Individual or individual's estate 235 12 5 8 210
Other 416 26 27 14 349

Servicer of First Mortgage

Commercial bank or trust company
2883 160 278 138 2308
Savings and loan association, federal
savings bank
1792 131 41 127 1492
Mutual savings bank 282 23 0 8 251
Life insurance company 248 21 14 10 202
Mortgage banker or mortgage company 4485 501 295 587 3102
Federally-sponsored secondary market
agency or pool
0 0 0 0 0
Conventional mortgage pool 21 0 0 0 21
Other federal agency 568 19 127 24 398
Real estate investment trust 10 0 0 0 10
Pension or retirement fund 17 1 0 0 16
Credit union 180 22 2 11 145
Finance company 282 15 4 36 227
State or municipal government or
housing finance agency
1621 122 180 54 1265
Individual or individual's estate 133 12 5 8 108
Other 530 33 25 14 458

Holder's Acquisition of First Mortgage

Originated directly from borrower
7392 639 437 588 5728
Purchased from present servicer 3331 189 238 281 2623
Purchased from someone else 2329 233 296 149 1651
Not reported 0 0 0 0 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
7062 661 530 541 5330
Less than 40 percent 849 72 46 87 645
40 to 49 percent 227 16 17 9 186
50 to 59 percent 505 27 40 25 413
60 to 69 percent 557 72 27 56 402
70 to 79 percent 864 106 50 40 669
80 to 89 percent 775 105 20 122 528
90 to 94 percent 412 44 4 18 346
95 to 99 percent 437 35 112 22 268
100 percent or more 2157 165 195 125 1671
Not reported 279 20 19 37 202
Median 85 83 97 83 85
Other properties 5990 400 441 476 4673
Not available 0 0 0 0 0

First Mortgage Loan as a Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
7062 661 530 541 5330
Less than 40 percent 634 51 27 81 474
40 to 49 percent 257 10 11 4 232
50 to 59 percent 302 0 46 8 247
60 to 69 percent 2381 261 200 114 1807
70 to 79 percent 973 100 40 44 788
80 to 89 percent 624 82 13 111 418
90 to 94 percent 342 43 19 18 262
95 to 99 percent 340 24 84 22 210
100 percent or more 950 69 70 102 709
Not reported 259 20 19 37 183
Median 69 70 69 80 69
Other properties 5990 400 441 476 4673
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
903 36 107 38 723
Not subprime loan 12150 1025 865 979 9281
Not reported 0 0 0 0 0

Total Mortgage Loan as a Percent of
Purchase Price

Properties acquired by purchase
with first mortgage made or
assumed at time of purchase
7062 661 530 541 5330
Less than 40 percent 671 58 46 55 512
40 to 49 percent 247 19 17 17 194
50 to 59 percent 439 34 24 25 356
60 to 69 percent 548 69 18 43 418
70 to 79 percent 783 55 33 35 659
80 to 89 percent 811 122 34 117 537
90 to 94 percent 384 55 9 19 300
95 to 99 percent 453 33 109 25 285
100 percent or more 2450 196 222 166 1867
Not reported 277 20 19 37 201
Median 89 87 98 86 88
Other properties 5990 400 441 476 4673
Not available 0 0 0 0 0

Total Mortgage Loan as Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
7062 661 530 541 5330
Less than 40 percent 1126 95 87 80 864
40 to 49 percent 531 18 45 26 442
50 to 59 percent 1093 107 73 158 755
60 to 69 percent 863 102 37 66 658
70 to 79 percent 837 53 65 30 689
80 to 89 percent 709 126 51 7 526
90 to 94 percent 214 17 2 24 170
95 to 99 percent 188 4 32 10 142
100 percent or more 1244 119 119 102 904
Not reported 258 20 19 37 182
Median 68 70 72 59 68
Other properties 5990 400 441 476 4673
Not available 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
1649 124 74 161 1291
20 to 29 percent 969 60 75 70 763
30 to 39 percent 1188 93 84 66 945
40 to 49 percent 1861 161 284 188 1228
50 to 59 percent 1764 147 58 136 1423
60 to 69 percent 1376 54 81 80 1161
70 to 79 percent 1260 122 84 24 1030
80 to 89 percent 834 89 27 63 655
90 to 99 percent 664 65 94 73 432
100 percent or more 1051 107 88 81 775
Not reported or not computed 436 39 21 75 300
Median 54 55 49 49 54

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
2010 106 82 126 1696
Treasury security 381 0 3 40 338
Average cost of funds in bank district 45 0 0 4 41
National average cost of funds 8 0 6 0 3
OTS contract mortgage rate 0 0 0 0 0
Other method 314 0 9 9 295
No index used 37 0 0 0 37
Not reported 1225 106 64 73 982
Other properties 11042 955 889 891 8307
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
2010 106 82 126 1696
Monthly 49 0 0 0 49
Every 3 months 14 0 0 0 14
Every 6 months 19 0 9 0 9
Yearly 25 0 6 0 19
Every 3 years 28 0 0 0 28
Every 5 years 493 0 3 49 441
Other 109 3 0 4 102
Not reported 1273 103 64 73 1033
Other properties 11042 955 889 891 8307
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
2010 106 82 126 1696
Less than 1 percent 7 0 0 0 7
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 2 0 0 0 2
2.1 to 2.9 percent 4 0 0 4 0
3 percent 7 0 0 0 7
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 14 0 0 0 14
No caps 721 0 18 49 654
Not reported 1254 106 64 73 1012
Other properties 11042 955 889 891 8307
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
2010 106 82 126 1696
Less than 1 percent 1 0 0 0 1
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 3 0 0 0 3
2.1 to 2.9 percent 7 0 0 0 7
3 percent 12 0 0 0 12
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 123 0 0 4 119
No caps 590 0 18 49 523
Not reported 1275 106 64 73 1032
Other properties 11042 955 889 891 8307
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
2010 106 82 126 1696
Yes, rate has changed 307 3 9 0 295
No change since mortgage made 471 0 9 53 408
Not reported 1233 103 64 73 993
Other properties 11042 955 889 891 8307
Not reported 0 0 0 0 0

Change in Monthly Interest and Principal
Payments Other Than Change in Interest
Rate

Monthly payments can change
(other than change in interest
ra
23 0 0 0 23
Payments can change monthly 1 0 0 0 1
Payments can change every three months 0 0 0 0 0
Payments can change every six months 3 0 0 0 3
Payments can change yearly 3 0 0 0 3
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 2 0 0 0 2
Other 14 0 0 0 14
Not reported 0 0 0 0 0
Monthly payments cannot
change
11770 958 904 944 8964
Not reported 1260 103 67 73 1016

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
23 0 0 0 23
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 23 0 0 0 23
Not reported 0 0 0 0 0
Monthly payments cannot change 11770 958 904 944 8964
Not reported 1260 103 67 73 1016

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
12249 1033 750 937 9530
Interest and principal 12124 1033 745 937 9409
Fully amortized 8835 946 626 784 6479
Not fully amortized 3289 86 119 153 2930
Interest only 125 0 5 0 120
No regular payments required 123 2 0 0 121
Not reported 681 26 222 80 353

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
12124 1033 745 937 9409
Real estate taxes 4091 345 265 129 3352
Property insurance 1930 340 261 37 1292
Mortgage insurance 638 326 102 65 145
Other 2172 285 202 69 1615
No items included or not reported 7950 684 465 808 5993
No regular payments of interest
and principal
929 28 226 80 594

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
12930 1059 971 1017 9882
Less than $100 1639 75 130 167 1266
$100 to $199 4215 264 319 376 3255
$200 to $299 2954 285 123 161 2384
$300 to $399 1366 72 57 113 1123
$400 to $499 766 120 22 51 573
$500 to $599 428 65 22 31 309
$600 to $699 270 59 44 10 157
$700 to $799 158 27 8 20 103
$800 to $899 75 17 1 3 54
$900 to $999 72 0 6 0 67
$1,000 to $1,249 138 44 3 2 90
$1,250 to $1,499 36 1 0 1 33
$1,500 or more 133 2 14 0 117
Not reported 681 26 222 80 353
Median 209 262 177 180 210
Mean 290 347 283 229 290
No regular payments required 123 2 0 0 121

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
12930 1059 971 1017 9882
Up-to-date, ahead of schedule, or
less than 90 days past due
5387 355 404 192 4436
Delinquent by 90 days or more 49 0 9 0 40
Legal proceedings have begun 4 0 0 0 4
Legal proceedings have not begun 44 0 9 0 34
Not reported 1 0 0 0 1
Not reported 7494 704 557 825 5407
Other properties 123 2 0 0 121

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
12930 1059 971 1017 9882
Less than $100 2224 100 351 228 1546
$100 to $199 3979 239 279 351 3111
$200 to $299 3060 285 144 179 2453
$300 to $399 1472 85 74 137 1177
$400 to $499 817 100 27 53 637
$500 to $599 443 85 22 29 307
$600 to $699 281 61 44 14 162
$700 to $799 168 27 8 22 111
$800 to $899 87 17 1 3 65
$900 to $999 74 7 6 0 62
$1,000 to $1,249 137 44 3 2 89
$1,250 to $1,499 41 1 0 1 39
$1,500 or more 146 9 14 0 123
Not reported 0 0 0 0 0
Median 209 267 148 180 212
Mean 284 371 224 222 287
No regular payments required 123 2 0 0 121

Interest and Principal Payment on
First Mortgage as Percent of Rental
Receipts

Acquired before 2000 and
regular payments of interest
and/or princi
11276 900 666 891 8819
Less than 20 percent 2203 142 136 216 1709
20 to 29 percent 2751 176 183 217 2175
30 to 39 percent 2320 207 100 237 1776
40 to 49 percent 1797 158 119 91 1430
50 to 59 percent 777 38 32 61 647
60 to 69 percent 427 39 16 34 337
70 to 79 percent 230 25 7 18 180
80 to 89 percent 90 0 49 0 42
90 to 99 percent 79 28 0 4 48
100 percent or more 536 86 26 4 420
Not reported or not computed 64 0 0 8 56
Median 33 36 31 30 33
Other properties 1776 161 305 126 1184

Interest and Principal Payment on Total
Mortgages as Percent of Rental Receipts

Acquired before 2000 and regular
payments of interest and/or
principal
11289 900 666 891 8832
Less than 20 percent 2079 134 121 193 1632
20 to 29 percent 2570 161 172 220 2017
30 to 39 percent 2318 213 96 206 1804
40 to 49 percent 1880 151 133 118 1478
50 to 59 percent 872 48 42 61 720
60 to 69 percent 486 39 16 60 371
70 to 79 percent 261 31 12 18 199
80 to 89 percent 110 1 43 0 66
90 to 99 percent 98 28 5 4 61
100 percent or more 547 94 26 4 423
Not reported or not computed 68 0 0 8 60
Median 34 37 34 31 34
Other properties 1764 161 305 126 1172

Real Estate Tax Per Housing Unit

Acquired before 2000
12016 928 886 970 9232
Less than $100 1046 62 60 112 812
$100 to $199 523 64 50 51 357
$200 to $299 589 48 223 16 302
$300 to $399 682 36 48 84 513
$400 to $499 809 49 42 138 581
$500 to $599 997 111 109 68 709
$600 to $699 1152 58 72 81 941
$700 to $799 1239 96 42 36 1065
$800 to $899 673 37 65 61 510
$900 to $999 699 36 17 49 597
$1,000 to $1,249 1444 105 104 124 1110
$1,250 to $1,499 645 74 32 61 479
$1,500 to $1,999 683 86 9 35 553
$2,000 to $2,499 247 20 3 16 207
$2,500 or more 450 44 5 31 370
Not reported 138 1 4 8 126
Median 711 736 516 616 732
Mean 878 940 577 769 912
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Real Estate Tax Per $1,000 Value

Acquired before 2000
12016 928 886 970 9232
Less than $5 1332 98 73 130 1031
$5 to $9 1032 83 48 66 835
$10 to $14 2115 172 338 112 1492
$15 to $19 1592 81 83 221 1207
$20 to $24 1400 82 48 172 1098
$25 to $29 1106 114 44 83 866
$30 to $39 3282 287 245 171 2578
$40 to $49 3 0 3 0 0
$50 to $59 0 0 0 0 0
$60 or more 16 9 0 7 0
Not reported or not computed 138 1 4 8 126
Median 20 22 15 19 20
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
12016 928 886 970 9232
Less than 5 percent 2236 205 121 196 1713
5 to 9 percent 4142 341 404 399 2998
10 to 14 percent 3080 201 213 134 2532
15 to 19 percent 1241 79 45 120 998
20 to 24 percent 556 44 67 68 378
25 to 29 percent 211 12 23 14 162
30 to 34 percent 83 4 6 14 60
35 to 39 percent 23 0 0 0 23
40 percent or more 238 40 3 11 183
Not reported or not computed 206 1 4 16 185
Median 9 9 9 9 10
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Property Management

Property managed by paid property
management company
11202 907 646 866 8784
Property not managed by paid property
management company
1360 128 91 132 1009
Not reported 490 27 234 19 211

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
12016 928 886 970 9232
Less than $100 113 8 0 0 105
$100 to $199 466 39 44 49 334
$200 to $299 1009 55 45 111 798
$300 to $399 1445 101 85 113 1146
$400 to $499 1201 66 54 98 983
$500 to $599 1172 96 27 148 901
$600 to $699 777 21 54 25 676
$700 to $799 629 64 38 37 490
$800 to $899 443 31 12 49 350
$900 to $999 349 41 22 13 273
$1,000 to $1,249 862 109 52 42 659
$1,250 to $1,499 457 13 20 20 404
$1,500 to $1,999 559 73 36 35 415
$2,000 to $2,499 276 36 15 38 186
$2,500 or more 295 34 27 40 194
No expenses 732 73 89 81 490
Not reported or not computed 1231 68 264 72 827
Median 568 712 621 526 566
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
12016 928 886 970 9232
Less than $100 188 10 6 6 166
$100 to $199 259 32 36 53 138
$200 to $299 519 37 58 60 365
$300 to $399 707 78 113 44 472
$400 to $499 786 39 61 42 644
$500 to $599 713 34 36 53 591
$600 to $699 682 71 37 33 542
$700 to $799 742 54 33 77 578
$800 to $899 758 50 15 62 632
$900 to $999 498 31 54 41 371
$1,000 to $1,249 1012 64 53 56 839
$1,250 to $1,499 910 48 33 72 758
$1,500 to $1,999 1223 88 42 170 923
$2,000 to $2,499 642 57 10 34 541
$2,500 or more 947 167 37 86 658
No expenses 53 1 2 0 51
Not reported or not computed 1377 67 261 84 965
Median 892 981 607 936 897
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
12016 928 886 970 9232
Less than $250 396 2 97 11 286
$250 to $499 1044 64 46 69 864
$500 to $749 2230 132 157 115 1826
$750 to $999 2428 216 141 129 1942
$1,000 to $1,249 2084 116 88 265 1615
$1,250 to $1,499 1028 135 44 106 744
$1,500 to $1,749 567 80 17 127 343
$1,750 to $1,999 247 44 8 16 180
$2,000 to $2,499 253 33 9 12 199
$2,500 or more 305 39 15 32 218
No expenses 112 1 0 6 105
Not reported or not computed 1322 66 262 83 912
Median 917 1035 770 1109 896
Acquired 2000 and 2001 (part) 1036 133 86 47 771

Source: U.S. Census Bureau | Residential Finance Survey |  Last Revised: 2012-08-02T15:15:13.203-04:00